home office tax deduction

Home Office Tax Deduction for Landlords

Individual landlords don’t always realize their rental property income is basically its own small business. In order to manage the business, it has to operate somewhere and that is usually at a desk or in an entire room in your home. As long as it’s exclusively used for your rental activities like paying bills, screening […]

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Rental Property Tax Deductions

Rental Property Tax Deductions

As a landlord, you don’t want to overlook the rental property tax deductions that can help make a profit or minimize a loss. The IRS allows landlords to deduct expenses directly associated with the rental property that are necessary for its maintenance and management. The following are examples of acceptable landlord tax deductions: Employee and […]

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What to Do When a Tenant Breaks a Lease

When a Tenant Breaks a Lease

Most of time, it’s up to landlords to decide (under the law) how they wish to handle early terminations initiated by tenants, but there are a few exceptions rental property owners should understand. This video discusses the most common options for a landlord to take when a tenant breaks a lease by leaving early. It […]

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Buying Your First Rental Property

This post is not intended to replace an in depth book, it’s quick reference to give you some of the most important tips. The very first property for any landlord, should be a 3 bedroom/2 bathroom single-family home. They are the most desirable properties for renting, buying, and selling in most markets and the easiest to finance. Note: […]

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Who’s Responsible for Bed Bugs?

Bed bug infestations are something no landlord or tenant ever wants to have to deal with. They bite, their tiny, and their tough to completely exterminate – thriving on blood, bed bugs can live up to a year without feeding. Signs of Bed Bugs Shared/used mattresses or furniture are a common culprit Blood stains on […]

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Charging a Pet Deposit

If you allow tenants to have pets in order to broaden your applicant pool, you need to keep in mind the need to protect yourself from the possibility of additional damage that could be caused by the pets. Some states allow for a specific pet deposit that is separate from – and in addition to […]

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Is Income or Credit More Important?

Income verification (as well as employment verification) is not a very reliable tool when screening a tenant for the very reason that jobs are changed frequently and it doesn’t matter how much a person earns. An example of this can be clearly seen in the auto financing industry. Even though employment data is collected at […]

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