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Questions tagged [rental-property]

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

-2
votes
1answer
189 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
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 ...
1
vote
1answer
54 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
votes
2answers
56 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
81 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
votes
0answers
41 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
votes
2answers
389 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
votes
1answer
60 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
votes
4answers
425 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
76 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
262 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
votes
2answers
309 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
251 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
votes
0answers
79 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 ...
7
votes
1answer
22k 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
votes
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 ...
5
votes
1answer
245 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 ...
0
votes
3answers
156 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
votes
1answer
125 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
4answers
186 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
votes
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 $...
1
vote
1answer
244 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
vote
1answer
75 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
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
61 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 ...
1
vote
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
votes
1answer
351 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
135 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
166 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
votes
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
votes
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
61k 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
675 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 ...
5
votes
1answer
3k views

Is a lease still binding if not all of the parties 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 ...
0
votes
2answers
956 views

Is It Possible to Get Out of an Apartment Lease?

My daughter is in a bad situation and I need advice. She recently moved into a new apartment near school. There were a lot of problems, she doesn't feel safe, and wants to move out. But her lease ...
14
votes
3answers
863 views

My landlord is being foreclosed on. Should I confront him?

I just found out that my landlord is being foreclosed on. My lease agreement runs out at the end of this month, but I had, through email, agreed to stay for another year (no new contract was signed). ...
0
votes
4answers
5k 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 ...
1
vote
4answers
2k views

What happens if I break lease while landlord does not have my SSN?

I live in Chicago and my landlord is a large apartment rental/management company. What would happen if I break the 12-months rental lease by leaving 2 months early if they do not have my SSN on file? ...
3
votes
1answer
95 views

Lease term is described as additions instead of a sum

I have been looking at an investment property, it states: Term: 30 years based on 15 + 5 + 5 + 5 Initial rent per unit: Ranging from $13,500 to $19,000 gross plus GST if any (including free-stay ...
5
votes
2answers
885 views

The cost of cleaning the house that we rented far exceeds the security deposit. Should we bother?

My wife and I rented an 1100-sqft house in Florida for the last six years. All rent was paid on time, and our credit is good. The landlord has been kind to us, doing such things as forgiving the ...
1
vote
2answers
381 views

“Missing” Apartment Rent Payment

So I'm currently renting an apartment through real estate agent. I've been paying monthly. They claimed that they didn't receive the May payment and there is no unclaimed money in their account. I ...
1
vote
0answers
50 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
2answers
364 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 ...
3
votes
1answer
250 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 ...
1
vote
1answer
63 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
301 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 ...