Questions tagged [rental-property]
Questions around the use of property that is rented to others.
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How to properly split the rent/utilities
I'm confused on the order I'm supposed to calculate all of these values between me and my roommate.
Rent agreement: We split the rent, utilities and internet but I pay $30 extra for the bigger room ...
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What do I need to consider when refinancing one home to pay the down-payment of another?
I recently (2+ years ago) purchased my first home, and we are financed with an 7:1 ARM loan as well as a HELOC as a second mortgage. I also have excellent (760+) credit. My family is growing and I ...
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Long Distance Landlording
I hate for this question to be overly general, but I think the problem is that I don't know what I don't know. My wife and I are thinking about becoming a long distance landlord/landlady, but having ...
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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 ...
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Apartment leased two month notice
I am currently living in an apartment in Atlanta, Georgia which lease ends in two weeks. I called my apartment to tell them I am leaving and wanted to pay my last month prorated bill and they said I ...
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Should I refinance my primary home, take cash out to pay off my investment property?
My primary home has an interest rate (15 years) 3.125% and 100k mortgage loan left. I have just bought a second home for investment with the rate 4.625% for 30 years.
Should I refinance my primary ...
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1
answer
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Renting from self during out of area remodel project - deductible?
I own a nightly rental that's out-of-area. I was considering moving to that area for a month and renting and living in my own property while I (personally) do an extensive remodel on it. Would those ...
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Better to rent condo to daughter or put her on title?
We're contemplating purchasing a small condo in MI for our daughter to live in while she goes to law school. This would be an all cash purchase, so no mortgage. If daughter is listed as a co-owner, ...
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Aggressive Mortgage Repayment
We're 5.5yrs into a 15yr note with a rate somewhere in the high 3% range and are on our way to early payoff as-is. However, I have found a way to payoff the remaining $100k within 11mo by ...
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How to treat disposal of rental property appliance
I disposed of a broken washing machine in a rental property and purchased a new one. My question is how to handle the disposal of the old one. Should it show up on form 4797 in Part I or Part III or ...
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Second house: buy & sell, or make rental income as landlord
I'm looking into purchasing one or two modest houses (I have the budget for this), both on a mortgage, but renting out one of them. One of these would be a primary residence, and the second an "...
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I'm under contract for a house, but I'm moving away suddenly. Still purchase as an investment?
I'm under contract for my first house. But I just got an outstanding job offer across the country that is almost double what I currently make. I will be moving.
Purchase price for the house is 290k, ...
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Using a self-directed IRA to buy vacation condo, rent it out to an LLC for $1
Let's say I have $80k in a 401(k). I know there are benefits and drawbacks to buying property with a self-directed IRA.
If I buy a condo in a vacation/rental area with the IRA for $80k, the IRA then ...
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Can I distribute a deduction from rental losses over multiple years?
Situation: During the last decade, I have accumulated significant losses from a rental property; the deductions I can get for that in every year are very limited, so there is pending carryover.
Issue:...
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Rental property or second home?
I'm trying to figure out if a piece of real estate that I own should be treated as a rental property or a second home on my US 2016 income taxes.
I bought the home in 2010 and lived in it until 2014 ...
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What documentation might be needed to support a rental property's depreciation basis, and under what circumstances? (IL, USA)
Last year, after moving out of our residential property, we converted it to a rental.
When arriving at a Fair Market Value (FMV) for determining the basis for depreciation, we relied on an estimate ...
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Looking for advice on rental property
For about five years, a close relative and I have co-managed jointly owned rental properties together in California. We each have a 50% share and make joint decisions on everything together. This ...
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Using property to achieve financial independence
I am working towards financial independence.
The most impressive rate of returns in Pakistan have been in buying property;
It provides a greater return than inflation.
The property could be rented ...
user4884
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5
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Why are residential investment properties owned by non-professional investors and not large corporations?
This question is relevant for Australia but I would think that it would apply to other countries too.
I've noticed that nearly all residential investment properties are owned by non professional ...
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How often can a landlord increase the rent in a UK Assured Shorthold Tenancy?
I came across the following page from the UK government's website:
https://www.gov.uk/private-renting/rent-increases
It states:
For a periodic tenancy (rolling on a week-by-week or month-by-month
...
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Depreciation and capital gains on a rental condo in the US
I rent out a condo that I purchased two years ago. I make a small profit. It may be advantageous for me to depreciate the condo. This presumably will increase the capital gains that will occur when it ...
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4
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Is it sensible to redirect retirement contributions from 401(k) towards becoming a landlord?
I understand diversification; the idea is that one should spread capital over a variety of investments to mitigate risk. This question is about diversification across Roth IRA/401(k), state pension ...
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Is a property that comes with tenants a risk?
I just saw a property listed as part of an estate liquidation of four properties. Looking through the other properties it seems that the ones that were vacant sold pretty quickly, while the ones still ...
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Canceling a Rental lease hours after signing
I am looking for an apartment and I came across a property management that had some rentals available.
The person in the leasing office of the property management gave me a sheet with buildings ...
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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 ...
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How to protect yourself from a fake security deposit check?
I am subletting my place to someone on craigslist for the first time. The potential tenant and I have a dilemma.
The tenant does not want to give me a check (with a security deposit and first months ...
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Avoid Capital Gains on Rental
I bought my first house in May 2012. I moved into my second (current) house in November 2014. After I moved out of my first house, I began doing repairs on it, and started renting it out around May of ...
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Do I have to find the tenant's roommate by myself?
I may purchase a condo and rent it out. The issue is the condo is two bedrooms and two bathrooms. Because the property is near a college campus. Most of the similar units are rent for college students....
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Merits of buying apartment houses and renting them
Here is my situation: I am not a U.S. citizen but I am studying here under F-1 visa. My plan is to buy 3-4 apartment houses and rent them. I am not planning to apply for a mortgage and the payment ...
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Diagnostic Questions to Determine if Renter intends to pay
CONTEXT
As a landlord, what are the proper diagnostic questions to ask a renter that is behind on rent and does not deliver on promises? The context is Florida and the renter is my sister's ...
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Are REIT worth it and is it a good option to generate passive income for a while?
I was talking to a friend of my who is into investing. I told him my plan is to buy a house and rent it out for passive income and have a property management company handle it.
My friend then told ...
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Is it beneficial to convert non-investment real estate to rental if I need to make major repairs? (USA/Missouri)
In 2009 I bought a small (850 sq ft) home via an FHA loan as a first time home buyer. Later, In 2013 I had a crazy month in which I accepted an out-of-state job and immediately learned my marriage was ...
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Security deposit Interest return
I'm getting ready to receive my $1,900 security deposit back on an apartment and I'm trying to figure out what is the additional interest I should receive at the time the account was set up the escrow ...
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Renting property to a relative for less than market
I bought a house that I am renting to a relative for less than the market value (she's paying about 75% of the rent market value from my appraisal, and not paying for utilities or anything else, so I'...
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Should I start investing in property with $10,000 deposit and $35,000 annual wage
I am a 23 year old Australian man with a degree in computer science and a steady job from home working as a web developer.
After expenses I have about $1000 a month spare cash if I am careful with my ...
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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 ...
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Should I sell my rental property or keep it if it has mold growth problems? [closed]
I bought a foreclosed home all cash for $165,000 (no mortgage) so that I could use it as a rental property. It had some mold growth in the basement and I thought it was something I could fix by ...
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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 ...
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Rental Property - have someone look for you
My issue is that I live in a city where good rental properties are gone within the first couple hours of being posted... and I'm working all the time.
Can I pay someone to check everywhere, check out ...
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Is it possible to sell a rental property WHILE tenants are living there?
I am thinking about selling my rental property, but currently there are tenants living there. Is it possible to "hand over" the current leases to a buyer/landlord or do I have to wait for all the ...
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Why GST carries weight in property price?
Country is New Zealand. Some properties in the market carry a message,
This property is worth xxx,xxx dollars (plus GST if any)
I am really confused by this "plus GST if any" statement. If GST ...
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Why do people talk about "buying versus renting"? Why can't people do both?
I have heard of people having to choose between buying a property versus renting a property. Yet that seems like a weird dichotomy for me. Couldn't you do both?
Buy a property and rent it out to ...
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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 ...
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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 ...
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Tax write off for week spent at my own VRBO rental?
I own two different VRBO rentals in two different states. I would like to stay in each at least 1 week per year for no other reason than to inspect them, fix minor things if needed and in general ...
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Charging the company I work for to rent from myself
I have a Vacation Rental By Owner (VRBO) rental in a city that the company I work for (large company - W2) requires I travel to regularly. I am authorized to use either hotels or VRBO/AirB&B ...
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What to do when paying for an empty office space?
I recently let go my only two employees, leaving me with an empty ~1,000 sq ft office space. The space has two smaller rooms and one open concept area (big enough to comfortably accommodate 6 or 7 ...
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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? ...
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Remortgaging my home to release capital for second property
I bought my first property in June 2014 under the UK Help To Buy scheme. I have until June 2019 before I start paying interest on the Help to Buy equity loan. The property's increased in value by ...
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Bookkeeping accounts for rent-to-own property
I own a house which I'm renting to tenants. We've entered a long-term rent-to-own contract, where the principle portion of each mortgage payment becomes potential equity for the tenant. How do I ...
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