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Questions tagged [rental-property]

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

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0answers
43 views

Establish rental property expertise with American Apartment Owners Association

"Every Landlord's Tax Deduction Guide" by Stephen Fishman includes many things to prove profit motive when not turning a profit, including: Establish your expertise: If you lack a solid background ...
9
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6answers
6k views

Should I move out from my current apartment before the contract ends to save more money?

I'm renting a room at $800 per month. I've lived here 2 months and I have a contract of 12 months. So, I have 10 more months before the contract ends. I have deposited $1300 as a security deposit. ...
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2answers
159 views

Is it a wise decision to buy a home in the current market in a coastal market where prices are at a premium [closed]

I am looking at the possibility of purchasing a property in the San Diego costal area, however I wanted to get some feedback from people that know the economic outlook better than I would. Is it a ...
1
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2answers
209 views

Can I use a property I own as a permanent mailing address even if I'm renting it to someone else?

This SE is the most applicable I think because it is in the context of business (renting) and personal finance (permanent address) logistics, even if mainly about mail. A friend bought a property in ...
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0answers
75 views

Can Landlord Make Changes To Apartment Fee Policy In A Memo? [migrated]

I'm running into some difficulty with the new property manager for my apartment complex in Washington state. I broke one of the rules that weren't ever enforced in the past five years I lived here. I ...
2
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1answer
55 views

Can I do a 1031 exchange and later get Section 121 tax free gain

My wife owns a condo from before. We plan on doing a 1031 exchange and getting one instead in our city partly b/c it will be easy to manage rental rather than having to fly cross country. Down the ...
40
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6answers
9k views

Why invest in becoming a landlord?

One of the most recommended ways to invest one's money still is real estate. Sure there are different ways to invest in real estate, but why does it make sense financially to buy property and become a ...
46
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12answers
22k views

How much more than my mortgage should I charge for rent?

We're considering moving at some point in the future, and right now we have a mortgage on our home. So far we've been here about 3 years, and we're considering renting out our home. Obviously there ...
2
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3answers
5k 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 ...
14
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5answers
5k views

When leasing/renting out an owned property, is there a standard ratio between monthly rent and the mortgage? [duplicate]

I'm leaving the country for work for roughly a year, and would like to sublease my home to a friend of mine living in the area. I have no experience as a landlord, and I've had a tough time figuring ...
5
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2answers
11k views

How long do I have to live as first time buyer before renting out the property?

Couple of days I've asked a question - How long I should pay the mortgage to break even when selling? (is 2 years enough) - as you can tell I'm thinking about taking a mortgage. I'm trying to gather ...
1
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1answer
150 views

Should I rent out a home I own outright or one with a mortgage?

If I have two homes of equal value ($300K each) and one is paid off and other has a mortgage balance of $235K. I'd like to rent one of those out. Which one should give me the most advantages with ...
4
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1answer
255 views

Can suspended passive losses of a former passive activity be used to offset capital gains on a current passive activity?

I had two rental properties, each of which had its own column on Schedule E. I purchased one in 2001 and one in 2007. The 2001 property has had minor Schedule E losses along the way, and has built up ...
2
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2answers
175 views

Break even for renting house in California

Hi am trying to figure out what our break even would be for renting out my house in California. All the options with taxes can be a bit confusing so i wanted to ask if have calculated it correctly ...
0
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3answers
171 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 ...
2
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1answer
150 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 ...
0
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1answer
216 views

Rental Property Detroit; profitability

I am considering buying a property in Detroit, renovating it and renting it out. I was wondering if I have a good chance of renting the property out in this part of Detroit, what vacancy I should ...
26
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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 ...
1
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1answer
67 views

Status of unused depreciation on improvements to rental property, at death of owner

How is "unused" depreciation for improvements handled, on real property at time of death? Imagine my uncle purchased residential rental property for $10,000 in 1950. In 2005 he added an enclosed ...
0
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2answers
60 views

Claiming depreciation on a Real estate rental

Say Joe began renting out a rental property in 2015 and he has been claiming a reasonable depreciation annually for the tax years till now. For 2018 taxes, Joe wishes to stop claiming a depreciation. ...
3
votes
1answer
156 views

Schedule C vs. Schedule E for rental income

I own a few residential rental properties in the United States. I actively manage all of them, although this is not my full-time job. The properties are owned by an LLC of which I am the sole member. ...
2
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0answers
45 views

Can you claim past unclaimed expenses from previous years on a rental property?

My question is the following: Let's say I have some repair renovations that were performed in 2016 that I never claimed in the 2017 tax year (because I had enough expenses to fully balance out the ...
6
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2answers
394 views

Rental Car Company or Insurance Provider: Whom Do I Call First?

Scenario: I have a 7-day rental on a car from Budget Rent-A-Car. I purchased the rental it with my Capital One Platinum MasterCard, which has rental car coverage. During the evening--below freezing ...
3
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1answer
61 views

Managed rental property: income from late fees. How to report on Schedule E?

We have a rental property that is managed by a property management company. This year, our tenants have paid late fees in addition to the rent. The management company filed these fees under Box 3, '...
2
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4answers
443 views

Buy 2nd house vs investing?

I've an interesting dilemma that will occur in a few years. My wife and I are currently overpaying our mortgage and will be mortgage free by the age of 35. We are also already putting away some money ...
2
votes
1answer
99 views

The formula to calculate the Net Present Value of monthly rental payment, adjusted for rental annual increase?

I am renting my apartment out, and for that I need to calculate the Net Present Value of the rental payment, after deducting the management fees (f) and adjusted for rental increased. Assuming that ...
4
votes
4answers
1k views

Financing mother-in-law suite to rent out

Context: My wife & I just bought a home for $175,000 with 10% down. We pay $1,020 per month on our mortgage, which includes property taxes and insurance. The home has a very large, finished ...
3
votes
3answers
270 views

Splitting rental expenses between friends

I am moving in to a rented apartment in London with 2 other friends. Our contract is for 1 year, and we all intend to stay in the property for at least that long. We are trying to work out a good way ...
6
votes
3answers
1k 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 ...
7
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2answers
314 views

Estate agent wants to charge a large amount to change the contract

I live with two other people in a house share in the UK. One is moving out, and the estate agent who handles the contract wants to charge us £300 for the pleasure of changing a name. We think this is ...
4
votes
3answers
255 views

Are people with bad finances likelier to pay using money orders?

I manage rental properties and have noticed a trend among various tenants with a history of paying late or bad credit: They often pay rent using money orders. They do this even though I also accept ...
0
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0answers
80 views

Renting a property with a golf cart under a separate LLC

I am considering listing my property with VRBO / AirBNB. My property is a lake property, where other comparable houses are making a nice profit. One of my buddies is doing this, and he also has a ...
6
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1answer
24k views

Can I locate the name of an account holder by the account number and sort code? (U.K.)

I received an invoice from a landlord about a cleaning bill. I heavily dispute this (is seriously out of whack: charging 7 hours work for a 15 minute job). She's being all weird and cagey about things ...
2
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2answers
74 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
4answers
267 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 ...
5
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3answers
2k views

Is this type of behavior a type of rental scam?

I have noticed in my area there are a ton of people advertising rooms for rent, where someone owns a large 3 or 4 bedroom home and is trying to rent the rooms out. These are usually advertised at $...
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1answer
253 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 ...
2
votes
3answers
1k views

Sell or keep rental Property?

My father has an old single-family home he purchased at the height of the real-estate bubble. He lived in the property for about 5-years, refinanced to 3.25%, purchased another brand new home designed ...
1
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1answer
77 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
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1answer
85 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
62 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 ...
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2answers
2k views

As a prospective tenant, how can I screen a potential landlord and what should I look for?

I am looking for a room and I came across one Craigslist Ad. Please find the image below for the Ad: As can be seen above, there are lot of things that a landlord is demanding from a prospective ...
0
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1answer
373 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 ...
3
votes
3answers
178 views

Retirement Options for Income

I am in the UK and hoping to retire in a few years. I am aware that pension rules have changed recently so an annuity is now not my main option for an income - due to my age annuity would only yield ...
7
votes
2answers
136 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 ...
2
votes
2answers
169 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 ...
3
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2answers
2k views

Why would I choose a 40-Year depreciation instead of the standard 27.5-Year?

I converted my primary residence into a rental property last year. For depreciation purposes, I must choose between GDS ("General Depreciation System") or ADS ("Alternative Depreciation System"). ...
5
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3answers
4k views

Should I buy my house from my landlord?

The situation This is a specific situation, but hopefully the general themes of the question will be helpful to others. I read the question at In general, is it financially better to buy or to rent ...
5
votes
3answers
63k 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 ...
4
votes
1answer
691 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 ...