All Forum Posts by: Jennifer Mora

Feds say owner occupied duplex is exempt, but our muni says no. I checked with an equal rights group here and they said I had to list as 3 bedroom and I couldn't limit the number of tenants beyond what is standard occupancy for the size. In this case, 2 per large bedrooms and 1 per small, so up to 5 tenants. Rent has to be solid no matter how many tenants, but it was suggested I may be able to increase the security deposit based on the number of tenants, since the money would be returned if there were no applicable damage, but the specifics would need to be in the advertisement. For example, rent $1800, SD $1800 for 2 tenants, each additional tenant requires an additional $900 SD. What do you think?

Thanks Andrea.

I have a 3-bedroom rental. Is it ok for me to list it as a 2-bedroom with office? Also, can I limit the number of tenants to 2? If it's ok to limit number of tenants, is it discriminatory to not rent to a 2 adult/1 child if I will accept a 1 adult/1 child tenant?

Didn't think this would be an easy answer, and it hasn't been. I appreciate your insights gentlemen. It does seem as though the IRS bases its definition of out of service on permanence and purpose, and I never permanently withdrew it from its rental purpose. I'll have to give this some thought. Thank you all.

Thanks for the answers guys. The remodel is extensive. Flat roof changed to trussed and shingled and insulated. Removed and redid the ceiling drywall and vapor barrier. Removed upper porches and changed to window only. New boiler. All new upstairs windows in different sizes than previously there (framing work). New wiring (open up one wall and suddenly you have 5 extra things to do). Insulate and airseal crawlspace. Tenant side only: completely gutted interior, so [i][/b][b][u]everything inside is new except the walls. Also removed and installed new wood deck. Lots and lots of other things not listed here. Never thought it would take this long, but none of this has been on credit and I could only pay for what I could afford. Place hadn't been worked on in about 20 years. Looking pretty spif now, though. I know I can only deduct half of what apples to both sides of the duplex, so no need to adivse on that. Unlikely it will be rented in December. More likely January. I know that's not optimal, but is it still ok as far as depreciations and deductions?

I've been renovating a duplex since June, 2011 (I know. It's almost done.) Had a tenant prior, but it's been vacant since then due to the remodeling. I know I can claim the 2011 deductions because I have rental income to offset them. What about 2012? Can I still depreciate and deduct expenses if the property was vacant and unrentable?