Questions around the use of property that is rented to others.

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-4
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0answers
53 views

London or New York - Which city is better to be a first time landlord? [on hold]

Am specifically looking at guidance from a tax, compliance & transaction costs standpoint. Thanks!
1
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1answer
56 views

Is there a rule of thumb when getting roommates in a house?

I have a 3 br house, and I'm considering getting roommates. For the sake of round numbers, let's say my mortgage and all bills(water, electricity, cable, internet, etc) comes to $1,500 a month. Of ...
2
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2answers
45 views

Can my local municipality charge taxes on rental income I make out of state?

EDIT Sorry for the unclear question - been staring at tax forms all night. I meant to say that I live in a municipality in Ohio that charges local income taxes. It looks like my local municipality ...
1
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2answers
56 views

Tax Impact of Selling Appliances in a Rental Property

I sold the refrigerator in one of my rental properties this year & replaced it with a new one. On my Federal Income Taxes (Schedule E) this year, would the proceeds from the sale count as Rents ...
0
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1answer
74 views

If I own 50% of the house, and my partner rents the home how is the rental income taxed?

I own 50% of a home, which I would like to use to write off the taxes, as I will be paying the bills. The other person invested 50% up front and they would like to rent out a room in the house. If ...
0
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2answers
121 views

Priced out of London property market. What are my accommodation investment options?

I'm from the UK, I don't have any debt and have some savings that could get me a mortgage somewhere but not where I currently live in London. At the moment I pay low rent but I'm very keen to divert ...
5
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4answers
258 views

Multiple people interested in an Apartment

I own a four family building which I am actively renting. Every time I go to rent it I raise the rent slightly and I check the comparables in the area to make sure I am still not pricing myself out ...
2
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1answer
47 views

Investing in DHA property in Queensland

I was interested in investing in DHA (Defence Housing Australia) properties in Queensland. Does anyone who may have any DHA investment properties within Queensland know how these properties have ...
1
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3answers
75 views

Might I need a credit score to rent, or for any other non-borrowing finances?

I'm moving to Canada soon, and I've read that some people use credit cards for the sole purpose of building up a credit score that they might need. Personally, I consider a system requiring this ...
0
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0answers
32 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 ...
8
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3answers
2k views

Should I deduct or capitalize the cost to replace a water heater in my rental property? (details Below)

Recently had a water heater die in my rental property and it had to be replaced with a new one. Here are the specifics: Old water heater that was in the unit when I bought it. The property was ...
1
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1answer
101 views

Who pays the fee on a NYC no-fee co-broke apartment rental?

I know the following is true (or if it's not, please correct me!): a) If my broker shows me a place that has a fee that's listed by another broker, then they split the fee (i.e. a typcial co-broke ...
1
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2answers
248 views

How to declare/deduct owner occupied multi-unit property that only owner occupied one year, but is partially rented the next?

Context: I'm still doing 2011 and 2012 taxes. I purchased a house in the beginning of 2011 that is 3 units all of which needed some level of renovation. For the first year, 2011, I lived in the whole ...
0
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3answers
256 views

Is a broker's fee equivalent to one month's rent reasonable in San Francisco?

Friend and I are looking to move from elsewhere in the Bay Area to SF, found a decent option in an okay location. Have been attempting to negotiate with a broker on the rent, and he surprised us by ...
0
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2answers
198 views

Tax Implications of Renting a property

I am thinking of buying a condo and renting it out. Let's say I buy it for $200k, and then put it up for rent at $1500/mo. I have to pay $500/mo in HOA dues + property taxes. How much tax do I owe at ...
1
vote
1answer
98 views

I sublet my flat. What should I put when scholarships ask me for the owner's contact information?

I'm a student, and I've been living in a rental flat for a week. As it happens, some scholarships ask me to give details about my contract terms. Everything is all right so far, but the person that ...
8
votes
1answer
159 views

Is my financial plan for buying a house logically sound

All money is in NZD, all calculations done Weekly. Linked house is just example. House in North Shore, Auckland, New Zealand. $600K 30 year Mortgage with ASB, 430K loaned at 5.75% variable, (170K ...
7
votes
2answers
531 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 ...
5
votes
2answers
208 views

How to deal with a landlord charging more than what is specified in the lease when I break the lease?

I am not from the U.S. and this is my first experience breaking the lease. I had to break it to move for a new job, and no one would like to sublet the apartment since it is a damp basement. The ...
3
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2answers
444 views

Minimize capital gains on sale of investment/rental property

I bought the property in 1979 for $40K. It was zoned R4 and was a duplex. Several years later, the city camein and did a blanket rezoning of the entire street to C-2. I shared the house/owner-occupied ...
4
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1answer
83 views

What should I be aware of when renting a home to a corporation instead of an individual?

A prospective tenant requested a corporate rental lease on a single family home in Arizona. He plans to live there. Is there anything I should know about renting to a corporation instead of an ...
1
vote
1answer
222 views

How effective are hotel condos for investment properties?

There is an opportunity to invest in a condo hotel in my area which is very frequently visited by tourists. This opportunity is on a hotel that each room is sold like a condo, and you can either use ...
1
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2answers
96 views

Condo Purchase - Tax Strategies [US]

I'm looking to purchase a condo. Without getting into the details, it is likely that the wife and I will lose money on it for a portion of time. Can we treat the condo as a business, and can we ...
0
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1answer
306 views

How do I evaluate a potential investment in rental property?

I am looking to buy a long-term rental property. My objective is to maximize cash-flow. At this point I have a few figures, but I have no context to measure the numbers against: For example - This ...
3
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1answer
409 views

Are there any disadvantages to DHA Investment Properties?

In Australia, Defence Housing Australia (DHA) sells a selection of their properties to private investors under a leaseback arrangement in order to supplement housing supply for the Australian Defence ...
3
votes
1answer
62 views

How to quantify the cost of your Credit Score?

In the event you have an investment property that have lost 10% value since 2005. Is returning a -30% in terms of revenue. Costs are $12,915 (including mortgage payments) and Revenue (rental income) ...
5
votes
1answer
289 views

Is a lease still binding if all of the parties didn't sign it?

My wife and I were leasing a house with another couple. Two weeks into the lease, the other couple left in the middle of the night and we have yet to hear from them. My wife never got to sign the ...
1
vote
1answer
316 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
186 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 ...
2
votes
1answer
284 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
511 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
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2answers
462 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
151 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 ...
4
votes
1answer
128 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 ...
3
votes
1answer
5k views

Calculating capital gain tax on selling rental property I lived in for a while, and renovated?

I am finding it extremely difficult to get an answer to this question. I can understand if its not possible to give me an exact number but I am just trying to figure out, roughly how much I will be ...
4
votes
1answer
173 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
77 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, ...
1
vote
1answer
202 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
772 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
308 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 ...
3
votes
1answer
3k 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
493 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 ...
3
votes
2answers
8k 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
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2answers
192 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
582 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
3k 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 ...
0
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1answer
65 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 ...
5
votes
1answer
192 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 ...
4
votes
3answers
712 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
2k 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 ...