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Questions tagged [rental-property]

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

2
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4answers
122 views

How to know if negative cash flow rental property is a good investment?

I am completely new to the concept of investments and investment property. I've done research on rental properties and negative cash flow but am unclear how to actually measure if something is a good ...
1
vote
1answer
165 views

Trying to rent an apartment, processing fee $1000?

I am a student and soon to be tenant who is looking to rent a place for about 4 months between January and May. I have to relocate near Atlantic City, NJ and I have come across many winter rentals ...
1
vote
1answer
38 views

New York, Rental Apartment in Chinatown has issues with Gas Connection. Can I get rent abatement

I live in a rental apartment in Chinatown, New York area. My building had its gas turned off by ConEd because of a faulty pipe. Talking to the super, it seems the landlord as no immediate plans to fix ...
2
votes
1answer
75 views

Looking to calculate expected profit from sale of house

I'm trying to calculate the money I will see as profit from the sale of my house. I'm tallying the various expenses associated with selling and would like input on any costs I'm missing. I'm in ...
1
vote
1answer
57 views

Can I claim management fee as business expense?

Location is New Zealand. I have an agency that looks after a rental property for me, and they charge me management fee every two weeks. The tenants pay the agency rent, the agency deducts their ...
0
votes
1answer
265 views

Apartment rent possible fraud

I permanently moved to Spain in September and rented a one apartment through a Russian agency. I never met the Russian owner who I was told lives in Canada. A woman from the agency signed in his name ...
2
votes
2answers
73 views

Optimizing property insurance payments for tax purposes

I own a residential rental property in the United States. I recently received the bill to pay the property insurance on it. The bill can be paid in full this month, or I can pay it in monthly ...
2
votes
1answer
98 views

Capital Gains Tax allowance sharing for married couples

A husband owns a flat (mortgaged). He is selling it after marrying earlier in the year. Some capital gains tax will be payable as he no longer lives there - the couple moved into a larger place ...
2
votes
2answers
155 views

Capital gains when selling property

My parents bought a condo in 2005 for $75,000 and rented it out through 2015. I got married in March 2016 and moved in. I paid the HOA and property taxes to my parents. My parents gifted this ...
7
votes
2answers
128 views

Can I have a dual-purposed limited company

I am an IT Consultant and have a limited company which I use to invoice my clients a daily rate for my consulting work. Can I use this same limited company to buy property and then offset the gains ...
0
votes
3answers
154 views

Buying a flat abroad through British LTD company

I'm an IT contractor in the UK, I'm considering buying a flat in Poland, rent it on Airbnb or work remotely from there. I'm thinking if it's worth buying it through LTD company in my case. Would it ...
1
vote
1answer
62 views

Writing off purchases to improve rental property when partner made the purchases

I bought my split-level house from my mother and moved in. I rented the upstairs to a couple of tenants. They use the upstairs while my girlfriend and I use the downstairs (except for two shared ...
4
votes
5answers
277 views

Buying a vacation home

My wife and I are thinking to buy a house in upstate NY. We live in Brooklyn, NY (US) and rent AirB&B houses for weekends year round for a few days there. Our thought is that we would like to buy ...
3
votes
1answer
235 views

I applied to an apartment without paying fees, now I want to cancel but they still want deposits

I was recently on the hunt for a new apartment. I was worried about some apartments going missing so I applied to more than one. Now I have moved into an apartment and signed a lease but one of the ...
0
votes
2answers
171 views

How hard is it to rent an apartment with high assets, but little income?

Let's say someone has high assets (say, over a million), but currently has no salary, but do have passive (interest and dividends) income. How difficult would it be to rent an apartment? I've heard ...
-1
votes
1answer
117 views

Rental Property Detroit; profitability

I am considering buying a property in Detroit, renovating it and renting it out. >Photo of the property< I was wondering if I have a good chance of renting the property out in this part of ...
1
vote
1answer
85 views

Will an international student owe capital gain taxes upon selling the property if they didn't live there for 4 years?

I am trying to figure out the Capital Gain taxes on a property in Toronto. I am very new to this, so sorry if I say something weird. I live in a condo, which I own, and I am thinking of renting it. ...
11
votes
9answers
5k views

23 Years Old, With No Debt. Invest into Rental Properties or 401K?

I am 23 years old and selling my Sports Car/Winter Car to gain economic freedom faster (Don't really need to do this, but I want to). Currently I make around 65K a year and bought a very cheap trailer ...
1
vote
1answer
53 views

Issued a W9 for Rental Property (Computer Hardware)?

As I understand, a W9 is typically issued for employment of a person. If a person from another company (for multiple company events) agrees to pay a rental fee of a hardware item owned by a person/...
3
votes
1answer
113 views

How can I claim a tax deduction for home improvements made to my rental property?

Scenario I need to do 5k worth of home improvement in the form of replacing an A/C and a furnace. The property is a rental and I'm probably going to break even this year. On the other hand, I have ...
3
votes
0answers
175 views

Would renters insurance cover this scenario?

This is US based. I have renters insurance and the coverage overview is as follows: Personal Property Loss of Use Personal Liability Medical. I have read my policy, but I do not believe the ...
1
vote
2answers
167 views

How do I calculate the ROI for a rental property I've owned (mortgaged) for about 15 years?

We own a two family house and both parts are being rented. We moved out years ago and now live with extended family... "temporarily." Trying to figure out the best financial route while getting into ...
0
votes
1answer
104 views

As a landlord Moving into as lodger of the tenant, in UK [complicated scenario] [closed]

I would like to check on one scenario. We've rented out a flat that we own (and we have a residential mortgage on) through an Assured Shorthold Tenancy, via an agent. Now as our situation has ...
8
votes
2answers
379 views

Wait for the perfect tenant or lower the price?

I bought a two-family investment property. Each apartment has four large bedrooms and contains more than 2000 square feet. That makes it about twice as large (in terms of number of bedrooms as well as ...
0
votes
3answers
113 views

Would a commercially-owned personal rental property be considered commercial property?

If a property rental company, essentially a corporate landlord, is looking to acquire homes to rent out on mortgage, would the company take out a personal mortgage or a commercial mortgage, or is ...
3
votes
2answers
150 views

Trust issues with rental security deposit

I'm in a situation where I will need to rent an apartment without the ability to see it or meet the landlord/sublessor first. This creates a trust issue that I'm not sure how to address. Most ...
4
votes
1answer
127 views

Single vs. multi-family investment properties

I own a few rental properties in my town and am looking to purchase more. All of my current rentals are two- or three-family detached houses. The cost of multi-family houses locally has shot up ...
1
vote
1answer
72 views

How do new apartments affect rental rates in a city?

I live in a small city of about 25,000 people in the United States. Much of the existing housing stock in the urban core/downtown area is old (100 years or older) and in average condition. Recently, ...
2
votes
2answers
473 views

Should I pay off rental property mortgage before selling in order to save on interest?

My renters are moving out and I believe it will take at least 3 months to sell the house. The mortgage is $63k at 7% interest and the house will probably sell for $145k. The reason I'm thinking to ...
1
vote
1answer
69 views

2018 Federal Income Tax Deduction for Owner Occupied Rental Property

I live in a 3 bedroom condo in California and decided to rent out 2 of the bedrooms and live in one. The mortgage is $1M and interest is $4000 per month HOA is $600 per month Property tax is $1000 ...
52
votes
8answers
24k views

Why is rent going up in an apartment complex with multiple units sitting unrented?

I'm moving to a new city at the end of the month and am looking for an apartment. I found a property that I like, but the rent was a little more than I wanted to pay. So I decided I would take a risk ...
4
votes
2answers
345 views

Can I break a lease in response to a nonrenewal notice?

Just got notice that our house is being put up for sale and that we need to be out in 6 months. This is not an early termination, but a notice we will not be able to renew our lease. Since we'll ...
1
vote
1answer
41 views

Tax Free Exclusion (Capital Gain)

I have question regarding to capital gain tax to a sale of a townhouse in WA State. I just want to see if any of you can provide some advise. Thanks! home purchase in 2008 for 385k and was primary ...
0
votes
2answers
170 views

investing in mutual fund vs. rental property over 10 - 15 years

I have about $75K currently in a mutual fund. I've been considering adding an extension on to my house as a rental apartment, for which I think I could get $1200 - $1500/month currently. After 10 or ...
1
vote
1answer
72 views

What would be a financially intelligent rental cost to bear if you earn $90000CAD annually in Toronto?

Imagine if I earned $90000CAD annually (before Tax) in Toronto, what would be the most financially sensible maximum rental cost to bear? Would renting a house for $2500CAD monthly be somewhat over-...
14
votes
2answers
300 views

If a tenant makes a capital improvement to a leased property, is that income to the landlord?

If a tenant makes a capital improvement to a leased property, is that income to the landlord? For example, let's say I am renting a house to a family and at their own expense they build an addition ...
4
votes
1answer
273 views

Building passive income streams: Rentals vs. stocks vs.?

I've been fortunate for the past few years to have a very high-paying job. Over that time, I've put myself in the following financial situation: I own my personal home outright I own (also outright) ...
4
votes
1answer
140 views

USA: Renter had major medical setback and may become unable to make rent. What implications?

For 2017 taxes (USA) I formally converted my first home to a rental by declaring income, establishing cost-basis for depreciation, etc. The tenant's lease is July/2017-July/2018. Complicating things, ...
0
votes
0answers
16 views

Can the interest on a HELOC used to fund rental repairs be claimed as an expense to the CRA?

I have a rental property which is a single unit in a strata/condo association. Currently there is a very large special assessment to replace the envelope with a new cladding. I have paid the special ...
4
votes
0answers
78 views

Euro rental income earned in Spain but can it be paid in Sterling in UK

I am a UK national with a property in Spain. The tenants of this property currently pay the monthly rental in Euros to my Spanish bank account but have asked if they can change this arrangement and ...
4
votes
0answers
208 views

How does one calculate their AMT MAGI to determine their passive activity loss limitation?

The instructions for line 19 (passive activities) of Form 6251 (Alternative Minimum Tax) mention that you may need to do an AMT version of Form 8582 (Passive Activity Loss Limitations): Refigure ...
4
votes
1answer
46 views

Tax classification- non-real property rental income

A company rents equipment from me that I own. Does this income get taxed as passive income, in the same way that real property does? I've scoured the IRS tax code and have yet to find clarity. It ...
0
votes
1answer
55 views

Pay echeck with money order

I recently started invoicing my tenants via QuickBooks. They allow for free payments with checks. This is great. However, I can already hear someone saying that they don't have a checking account and ...
0
votes
0answers
61 views

If I convert a primary residence to a rental, are the cost of improvements potentially lost?

According to the IRS: When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of fair market ...
26
votes
16answers
10k views

How to best invest 90,000 EUR with zero knowledge in investing?

I have 90,000 EUR and difficulty figuring out what to do with it. This money is in a savings account with an interest rate of only 0.05%. Here in Netherlands, I pay around 600 EUR each year on this ...
3
votes
1answer
121 views

Should my regular income tax unallowed prior year passive activity loss carry over to the AMT passive activity loss calculation?

This is a pretty esoteric question but worth a shot. I have a rental property. In 2015 I had an unallowed loss. In 2016 I exercised incentive stock options which resulted a higher alternative minimum ...
1
vote
0answers
49 views

Regarding leasing removal

I am living in shared accommodation. I am a student and not working yet so I don't have a SSN. But due to some reason I want to move out from apartment and my name is also on the lease, so I need all ...
4
votes
1answer
109 views

IRS ramifications of renting to a family member who also entitled to 1/3 of home (informally)

My mother quit claimed her mortgage-free home to me many years ago. It was understood that she would retain financial control the remainder of her life, although never formalized as a living trust. ...
3
votes
0answers
40 views

Can construction Soft Costs be carried forward on Canadian rental income?

I built a home and am renting it out for profit. While building, I incurred soft costs (mainly interest costs on money borrowed during construction, and insurance costs). In the years that I had these ...
2
votes
5answers
444 views

How important is the “1% rule” for income properties?

The 1% Rule - The monthly rent earned on an income property should meet or exceed 1% of the total buying price of the property. How accurate/important is this rule when it comes to personally ...