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GR84_Square_3-29-18

Every landlord has encountered a difficult tenant, with issues ranging from payment, property upkeep, or just general neediness. These are the tenants who make renewal decisions the most difficult. But the grass is not always greener on the other side. How can you decide whether to retain your difficult tenant for another rental term?

Whether you send them a lease renewal or a non-renewal document comes down to your long-term goal, the property itself, and the rental market. Here are a few things to think about:Read More »

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Ever-present technology means that breaking news and social media are regular fixtures during our waking hours. When every opinion has an outlet, you may see more and more rental horror stories that can scare you out of being a landlord. While it is true that being a landlord can have its awful moments, there is room for the mundane and true rewards in the life of the landlord as well. As you look a littleRead More »

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Setting your rental rate is a delicate balance. The best way to increase your cash flow is to increase the rental amounts. Whether you are placing a new renter or renewing a long-time tenant, there are careful considerations that must be made.

Often, the easiest time to increase rent is when initially placing a new tenant. When the old tenant leaves and a new tenant arrives, there are no emotional attachments or preconceivedRead More »

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Depreciation is defined by the IRS as “an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property.”

The annualized deduction is calculated by dividing the house value (not including the land value) by 27.5. That deduction may create a “book loss” that allows you to show a loss onRead More »

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When serving as a landlord for the first time, there are many lessons to be learned along the way. One common mistake comes in preparing your taxes as a landlord for the first time. Two forms that can easily be confused are Schedule A and Schedule E. It is easy to make a mistake in this area if you do not know the difference between the two schedules. First let’s look at how each scheduleRead More »

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Recent Educational Articles

sq WARNING! Problem Tenant Ahead: 5 Red Flags
When choosing a new tenant, it can be difficult to navigate the information overload that confronts you. You must analyze each tenant's work history, references, number of occupants, and the like. Here are five red flags that can act as shortcuts, and weed out some potentially problematic renters. While these aren’t 100 percent accurate all of the time, they will save you from headaches most of the time! If your prospect does any of these things, take a step back and ask yourself, is it worth the risk? Read More »
FSBO_invest_purchase Does Selling Your House FSBO Really Save Money?
Selling 'for sale by owner' does not guarantee more profit in your pocket just because you are saving on realtor costs. Furthermore, while some FSBO do work out well, they are not all equal, as they depend on the house and the market. Read More »
Halloween_Decoration-Housesq Tenants Overdoing Halloween Decorations?
A realistic dummy laid on a lawn in Michigan each Halloween caused panic when passersby didn’t realize it was a prank. Many thought someone was seriously hurt and called 911 as the homeowner giggled inside the house. A much more gruesome scene, hosted each October on a front porch in Texas, included a child’s crib filled with zombie babies. And, in Illinois, a homeowners association felt compelled to enact new rules about Halloween displays after receiving complaints about a home whose decorations included 2,000 lights that blazed for weeks. Read More »
How_Does_Eviction_Work_SQUARE How Does Eviction Work?
More rumors surround the subject of eviction than perhaps any other rental topic. Landlords and tenants alike seem to rely on word-of-mouth information, which seems rather inappropriate considering that the eviction process follows fixed guidelines. States and local municipalities set these guidelines, and very few are identical. One feature of virtually all eviction laws is a requirement that landlords give tenants written notices before filing eviction court cases. This is where things get confusing. It takes more than a notice from a landlord for a situation to become an eviction case. A complaint must be filed in court for a case to be officially recorded. Read More »
ZElectric_MeterSq Saving Energy at Your Rental Property
It used to be easy for landlords to control energy costs at their rentals; they simply offloaded utility bills onto tenants. That still happens, but when tenants pay for electric, gas and water, they are more likely to demand efficiencies. Fortunately, it doesn’t take much effort to slash energy bills; the chance to save hundreds of dollars a year should be all the incentive you need. No matter who pays the bills, a landlord’s chances of getting and retaining the best renters improve with the ability to cut energy costs. Either tenants renew the lease because the landlord gives them ways to save on their utility bills, or they stay because the landlord controls rising energy charges, rather than automatically boosting the rent. Read More »
Real_Estate_Investing_Tips Real Estate Investing 101 with Industry Expert Paul Cohen, Esq.
Two real estate attorneys and two real estate investing experts answer common property investing questions from financing to taxes to repairs. Read More »
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