26
votes
5answers
4k views

What are the economic benefits of owning a home?

I am trying to figure out if owning a home is more economical then renting. According to all the tools, according to the rent I pay now (< $800) owning a home is not economical, even in the long ...
5
votes
1answer
124 views

Tax deduction for rental repairs after tenant moves out?

I purchased a home last July and began living there, while renting out a second bedroom in the property to a friend. I am now getting married in August, so the friend has moved out to his own place. ...
10
votes
3answers
1k views

Is there a way to live with and contribute to someone else's mortgage payments without the money being considered taxable rent income?

If my business partner purchases a home and I move in with him, presumably the money I'd give him to help out with his mortgage would be considered rent, and so he'd have to pay taxes on rent income. ...
1
vote
4answers
73 views

How much will I pay in agent's fees or commissions to rent a house in Boston metro suburbs?

I am being relocated for work to the Boston metro area. As I'm starting the search for a home to rent, I have noticed that many properties are listed through brokers and/or agents. What is the ...
5
votes
1answer
329 views

Should I sell the home in 2014 or continue to rent it out?

The home was bought in Dec. 2010, and we lived there from Dec. 2010 to Jan. 2013. It's been a rental property since Feb. 2013, when we moved into a rental home to be closer to work (about 30 miles ...
2
votes
0answers
139 views

My Rights as Renter Without Lease Renewal [closed]

My wife and I signed an 11-month lease about 13 months ago. We had sold our condo, and needed a place to rent while we looked for a house to buy. About a month ago, we bought that house, which we ...
7
votes
2answers
916 views

How to lower my rent when it is listed as less than what I am paying

I live in a large apartment complex that opened last year. I just moved in mid-July 2013 signing a 12-month lease. As of today, the apartment complex is about 30% occupied. There are many units ...
1
vote
2answers
130 views

If mortgage payments are deductible, how much of my income is left over each month after the mortgage

I'm currently renting and thinking of buying a house. Say I make 8k/mo. After rent (1000) and taxes (2000) I'm left with 5k/mo. If I were to get a mortgage at (say) 2500/mo, how much money is actually ...
11
votes
3answers
1k views

Tips for negotiating a rent increase (as a renter)

My landlord asked me today (via email) whether we plan to stay in the apartment and sign another lease in September. He mentioned there may be a small rent increase. He did not tell me what "small" ...
5
votes
2answers
380 views

Interest on security deposits paid to landlords, in Michigan?

Does the state of Michigan require landlords to put security deposits in interest bearing financial institutions?
10
votes
4answers
305 views

Buying a house for a shorter term

I've lived under the impression that it is never wise to buy a house (as your home) unless you are planning to live there "at least five years" (or something like that). But is this necessarily ...
3
votes
3answers
601 views

Why could rental costs for apartments/houses rise while buying prices can go up and down?

In this U.S. city, I have the impression that the rents of apartments and houses always go up, say, about a 5% per year, while the prices of buying them fluctuates throughout the same years. If my ...
2
votes
1answer
104 views

Where can I find the current price to rent ratio of the locality of my interest?

After reading an article about where to buy homes, I'm trying to do research on renting versus purchasing a home. I'd like to figure out what the price to rent ratio is as one factor of my research. ...
5
votes
4answers
1k views

Better to rent with or without utilities?

By the end of the year, I will be renting a small apartment with one other person and we will be splitting the costs. I am a college student so I've only lived either at home or in dorms. In general, ...
4
votes
1answer
78 views

Renter starts next year, but advance checks received this year. How to report the income for tax purposes?

I have a renter who will start occupying my second home in January. He will provide checks for the first and last month in December. The IRS states that income should be reported in the year that I ...
15
votes
7answers
2k views

How can a person with really bad credit history rent decent housing?

My ex got evicted out of her apartment for non-payment of rent. This didn't entirely take me by surprise, as she is financially pretty clueless. She attempted to rent another place but given her ...
5
votes
1answer
423 views

How do I track 'bartered' rent?

My brother and his wife are renting part of my house from me (in Kansas). Due to financial hardship on their part, I've agreed to let him do some house repairs in lieu of paying rent for a few ...
10
votes
5answers
2k views

How to determine how much to charge your business for rent (in your house)?

I started a business this year and have a dedicated room in my home for this business. How do I determine the rate at which I will charge the business rent for the space?
5
votes
2answers
1k views

What if only one of two tenants signs a lease?

The title is a little misleading. Lease agreements tend to have multiple forms that need to be signed. In my case there was the actual lease agreement (with checkmarks next to many things that needed ...
3
votes
1answer
60 views

Source for information about Australia and U.S. real estate market rent-to-price ratios?

Would like to make a comparison between the two markets, in particular during the global financial crisis.