Questions around the use of property that is rented to others.
1
vote
1answer
95 views
Can I form a company to rent a car or apartment to my wife's employer for her to use?
My wife's job places her on long-term contracts (> 6 months) in different parts of the US. The employer currently pays for a permanent car through a popular car rental agency and a permanent room ...
6
votes
1answer
114 views
What is a rule of thumb for accruing debt on a rental property?
My sister and I were fortunate enough to inherit 2 properties from my father, one a suite of apartments and cottages worth about ~$3M and also his home.
We currently have about $200K in mortgage ...
3
votes
1answer
56 views
Can I transfer my investment property into a SMSF?
I have two existing investment properties which I am looking to hold for the long term, basically to provide me with rental income in my retirement. If I set up a SMSF can I transfer these properties ...
10
votes
1answer
192 views
How to choose a good tenant as a private landlord?
I have 2 rental houses and am sick of the real estate agents providing such bad service. I have changed real estates 3 times over the past 5 years and I have to the conclusion that I am the best ...
2
votes
2answers
60 views
Can the interest on a cash out refinance for a rental property be claimed as an expense?
I currently have my home all paid off. I am thinking about purchasing another property as my primary home, and renting out my paid off current home. My question is should I:
Get a regular loan for ...
3
votes
3answers
130 views
One lease owner continues while other moves out
I was sharing a lease with another person in the apt. and the other guy for the last year. Now with the new lease I'm the sole lease owner.
The problem is since I continued lease, the other guy is ...
0
votes
0answers
55 views
Risk involved in buying Spanish property
I am considering investing in a Spanish property to let in a tourist area. I would be interested to know what people would consider are the risk factors. Here are some:
Anti-foreign sentiment in ...
4
votes
1answer
65 views
Failed attempt to refinance my rental property, can I deduct the cost of appraisal?
I attempted to refinance my rental property in 2012, but the appraisal came in low making it impossible. Can I consider the cost of the appraisal and rent schedule (close to $600) to be a rental ...
4
votes
1answer
99 views
Overpaid Rent Owed By Real Estate
Over the course of my last lease I had overpaid around 2 weeks rent to the real estate. I was notified of this when I moved out, but despite chasing them up about it they have failed to refund me the ...
1
vote
1answer
44 views
What are the tax rules of owning a vacation rental property?
I am considering purchasing a vacation property and renting it out for a majority of the season. Best case scenario I could generate about 50% of the annual cost (mortgage, tax, utilities, ...
3
votes
1answer
127 views
Are there Cashflow Positive Investment Properties in the USA?
I know someone in Australia who tells me they just settled on a property in Cleveland, Ohio last week.
These are the details of the purchase:
3 bedroom, 1 bath brick home
2 car garage;
Price: ...
3
votes
2answers
379 views
want to refinance FHA loan, may move out unexpectedly and would like to keep as investment property, what are my options?
I'm currently in my primary residence with an FHA loan. I'd like to refinance for a better rate (as I can likely get it down at least 1.5 percentage points or so). I also intend to ultimately use ...
4
votes
3answers
234 views
2 houses 450k each or one 800k?
I currently have a house worth about $450k. I'm thinking of upgrading. Upgrade is mostly for location and I can find a house in the location I want for around $450 to $500k.
What is a better option ...
0
votes
1answer
647 views
How to calculate the interest on my security deposit to my landlord?
Quoted from http://www.oag.state.md.us/Consumer/landlords.htm#deposits, here is the way to calculate the interest on security deposit a landlord in Maryland pays to his tenant:
The landlord must ...
1
vote
2answers
287 views
Should I finance rental property or own outright?
I own a rental property outright (no mortgage). We will most likely hire an accountant for at least our first year of doing this, but I wasn't planning on doing this until tax time. I am new to the ...
2
votes
2answers
2k views
What happens if I move out before my lease ends?
Suppose I sign a one year lease for an apartment or a house and pay a security deposit for the same amount as a month's rent. If I move out before the lease ends I know that my security deposit will ...
0
votes
2answers
133 views
Financial information for applying an apartment
I am applying an apartment whose management company will do some credit and background checking on me.
The application form asks for my employment information and my monthly income.
My financial ...
3
votes
3answers
366 views
Cash flow implications of converting primary mortgaged residence to rental
I'm considering the net monthly cost of moving from a mortgaged home to a rental, and converting my current primary residence to a rental property.
(Note: the reason for renting instead of selling ...
8
votes
4answers
953 views
Landlords: what's the maximum amount of time to allow a guest of tenant to stay in a rental?
As the title says, but with these details:
I have a rental unit; this situation has come up with a potential tenant. This tenant has an adult daughter, who, the tenant volunteered, has an unstable ...
3
votes
1answer
54 views
Commencing a Pension from an SMSF
If I have bought a number of investment properties through my SMSF during the accumulation phase, which are all or mostly paid off with net positive income by the time I reach preservation age and ...
6
votes
0answers
123 views
Buying an Investment Property in a Self Managed Super Fund (SMSF)
What is the best way to structure the purchase of an investment property in a Self Managed Super Fund (SMSF)?
Now that limited recourse borrowing is allowed in SMSFs to purchase assets such as ...
3
votes
3answers
265 views
Is there a formula to use to analyse whether an investment property is a good investment?
How do I determine the real cost of buying an investment property over time considering rent, interest, expenses and capital gain?
I know there are many factors at play but is there a generic ...
4
votes
1answer
585 views
How does a real estate agent get paid when they're helping us find rental properties (in the US)?
My wife and I are looking into moving to a new area and would like to rent initially. It would be good to enlist the services of a local real estate agent in the search for a good rental property as ...
6
votes
6answers
196 views
Is it a good idea to buy a house with a low ARM monthly payment, then rent it out?
I'm looking around for houses in my college town to rent to others, and I've found a decent 4-bedroom house with an interest-only 5 year ARM monthly payment (of $1700). Assuming I have enough to ...
4
votes
1answer
55 views
Should you work out the yield on property or shares against the purchase price, or the current market price?
In What is a good rental yield?, there's some discussion about whether you should calculate yield by dividing the original purchase price, or the current market price. Which is the correct ...
7
votes
3answers
205 views
Emergency Fund Suggestions - Purchasing Second Home
My wife and I are looking to purchase a home in the near future. With this in mind I am curious about how we should now look at our emergency fund situation. The general guideline you will see is ...
6
votes
2answers
365 views
Primary residence converted to a rental property & tax implications
In June this past year, we moved out of our condo in the Seattle, WA area that we initially purchased in December 2005 for $240K. We were able to purchase a new home and decided that we'd rent out ...
5
votes
1answer
177 views
What are the basics of apartment rental finances?
During the last few weeks I have been reading on rental yield and other rental finances questions.
I own a property that I have been keeping above the water by putting money into it. The mortgage ...
15
votes
7answers
2k views
What is a good rental yield?
If you are thinking of buying a property for investment purposes, what is a good gross yield?
I've been told you should take 3 zero's off the price of the property, so if a property is worth 400,000, ...
2
votes
1answer
64 views
Did the rules for filing a 1099-MISC change this year?
My property manager just sent me a W-9 (request for taxpayer ID) and asked me to send it back to her. When I asked her about this last year for my 2010 taxes, she said it wasn't necessary, even ...
7
votes
4answers
270 views
What to ask a tenant on a rental application to determine if their income is stable?
I have a residential rental unit standing empty now; the last tenant – the first I'd signed myself since buying the place – turned out bad. Thankfully, not in the tear-the-place-up sense, ...
4
votes
3answers
481 views
What things should I ask for in a lease addendum from tenants?
I am renting my home for a short, nonrenewable period. I have a standard lease agreement in hand which I'll use (one example here). It talks about the big issues: payments, security deposits, ...
2
votes
1answer
213 views
Can depreciation be offset against rent of a UK income property?
In the U.S., an income property investor is allowed to depreciate a residential income property over a period of 29.5 years. Does a similar concept exist in the UK? Can a UK citizen deduct the ...
4
votes
4answers
950 views
Will we have trouble getting a mortgage for our second home if we keep our first to rent out?
My wife and I are currently saving for a home. We currently own a small condo, which we would like to keep as a rental unit once we purchase the second home. Currently our home costs are under 12% ...
7
votes
3answers
207 views
What can cause rent prices to fall?
In the 2007 Global Finanical Crisis many places like the US, Ireland and Europe, experienced a popping of their housing bubble and as a result, house prices dropped quite a lot.
However, as most ...
4
votes
1answer
158 views
what is the best way to legally rent out a parking spot?
I recently purchased a condo. Since I do not have a car, I would like to rent out the parking spot. Now, i can simply put an ad in the notice board and make a deal with some one willing to rent it.
...
10
votes
2answers
199 views
Short-sell, or try to rent out?
I'm currently considering taking a job in another state, and I currently own a home that's up-side down in it's mortgage. I'm trying to figure out what I would do with my home in the event that I ...
6
votes
1answer
243 views
How is rental income taxed?
I own two properties which I rent out. I am also paying mortgages on each of these properties (I'm not sure if this matters). How is the rental income taxed? Do I have any options regarding how this ...
12
votes
1answer
193 views
At what point did my former primary residence become an income property?
Last year we bought another house (and moved into it as our primary residence). Rather than sell our previous house, we opted to keep it and rent it out.
Since the tax treatment for rentals is ...
4
votes
2answers
663 views
If I moved out of my house and rented it out, would I need to refinance into an investment loan?
I'm curious what I would need to do about my mortgage if I moved from my current house to a larger house in five or ten years. Would I need to refinance my residential mortgage into an investment ...
2
votes
1answer
235 views
Can I refinance a rental property that is currently only 75% loan to value?
I have two separate rental properties that each have a LTV of about 75%. I'd like to leverage these properties to buy another investment or rental property so I am considering refinancing with cash ...
