There is nothing more troubling for your budget, then when you find out that your homeowner’s insurance policy does not provide coverage for the emergency expenses. You’ve been paying month after month a substantial amount only to find out that your plan does not cover the particular situation you experience. For this reason, it is […]
We receive questions regarding Section 8 vouchers so often that we decided to prepare a comprehensive guide for landlords on this topic. Here’s everything you need to know about renting out to the Section 8 tenants.
According to the National Oceanic and Atmospheric Administration, natural disasters cause billions of dollars of damage each year in the United States. The net worth of damage costs for 2017 and 2018 was almost $400 billion, with hurricane damage being the costliest. Whether you have been directly impacted, or you know someone who has, you […]
Do you own a condo or plan to buy one soon? You’ve got to deal with HOA and their monthly or annual fees that they want you to pay for their services. But first, let’s do a small research and see who are these people and why you should pay them those fees.
Once you sell your investment property, you need to pay taxes on any gains. That is true unless you utilize a 1031 exchange. Besides the common tax deduction methods, this is a precious tax deferral strategy that enables an investor to sell a business or investment property and replace it with another property without any […]
Rendering a habitable living space is the primary responsibility of the landlord. State and municipal regulations may differ on the points of what that means. However, in every state, it’s explicit that landlords have to provide a warm and sanitary place. It needs to have a toilet, shower or tub, wash basin and a kitchen […]
Being a landlord is not an easy business. If you thought that you can invest in this asset class and receive passive you are wrong. Renting out require sophisticated management that is strictly regulated by various federal, state, and municipal laws. Management of residential property is full of risks and liabilities. The lawsuits are a […]
It is crucial for the landlord to understand the costs you are allowed to deduct on your taxes. You need to take advantage of every possible tax deduction to reduce your tax burden and maximize your profit. Some of the expenses might seem intuitive, while others unstated and you need to understand the specific prerequisites […]
Fair Housing Amendments Act and the Fair Housing Act forbid landlords to select tenants based on the following characteristics: Mental or Physical Disability Sex Race Familial status, including having children or being pregnant Ethnicity Color Religion Moreover, certain state and local jurisdictions outlaw discrimination based on marital status, age or sexual orientation. The best strategy […]
Rental property is a shared responsibility of the tenant and landlord. Maintaining a clean, secure, and comfortable rental property takes two people. That is why it is essential from start to articulate the duties and responsibilities of each party. It is the legal responsibility of the landlord to render the livable and safe residence; it […]