All Forum Posts by: Krista Shane

We have a small (<520sq. feet) commercial condo in a uptown area that has residential condos above. It was rented when we bought it and has been rented ever since. My problem now is the tenant doesn't want to stay after her lease ends. I've heard it takes longer to rent commercial property...seems to be true. I've got ads on Craigslist, Loopnet, and even Rentlinx (geared more toward residential)...and I'm getting almost no response.

Is there other places to list it for rent that I'm not aware of or that have better results? I want to try to stay away from using a commercial realtor if I can.

Any advice would be helpful.

Thanks!

Hi BP!

My tenant of multiple years wants to buy and build a swing set in the fenced in backyard for her kids for Christmas. Should I allow this? If I do,  I was thinking of possibly having a lawyer draw up something for them to sign saying they accept all liability and responsibility for the swing set, including it's removal when they vacate the property.

Any suggestions or input would be greatly appreciated!

Thanks!

Krista

Hi BP community!

We own a house that we lived in for greater than 2 years...we have heard about the capital gains tax rule that says you don't have to pay capital gains tax if you lived in the property 2 of the last 5 years if you sell the home and make a profit. We put our former primary residence in a LLC to protect our other assets while using it as a rental,( we are the only memebers of the LLC and the only thing in the LLC is this house). My questions are as follows: since the property is in the LLC now... will we have to pay the capital gains taxes? Will taking it back out of the LLC and putting it back in our names make any difference?

Any advice would be helpful...don't think we want to sell it if we would have to pay capital gains.

Thanks!

Krista