All Forum Posts by: Lacey A.

Is it legal, per the IRS, to rent my primary home back to myself? 

I have some upcoming repairs needed that outweigh the Homestead Exemption and plan to make my primary home a long term rental in the next 7 years but the repairs can’t wait. 

And Go! 

I'm canceling quickbooks ($20/mo) and want to implement a new app to track my mileage. 

It must: 

1) Automatically Track my Mileage 

2) Provide a comprehensive export to excel/spreadsheet for tax purposes 

3) Free -any good ones free? 

Has anyone had any luck in lowering their insurance premiums by providing the leases, that include a long list of safeguards, to their insurance company? Safeguards would include verbiage like; no grills, candles, open flames, ect. And what are some safeguards that you include?

Thanks for the tip! 

We’ve implemented a Google calendar invite/reminder and require photo evidence

Our tenants are required by their lease to change out the air filters for the Hvac on a regular basis. They did not do so causing poor circulation which caused an ice build up on the less than two year old air handler. This damage is not covered by the warrantee. Who is liable for the cost of repairs? and on what grounds? 

There is additional damages due the water leak, most of which I can handle. 

Totally agree! 

Can you elaborate? ! Excited to learn! 

Hi there,

We had a REALTOR reach out to us hoping to place his clients in our rental home. The tenant(s) are employees of a big foreign company that we've all heard of. The agent tells us that the company will guarantee the tenants. They also want to pay more than asking and lock it in for 1.5 years with the option of extending at the same rate. (We are very much okay with the higher rate for five years if they'd ask.) 

We will supply our ACH and W9 from our LLC to the company and they will pay us like a vendor.

What are the pros and cons of signing a lease this way? Sounds like the agent has done this before. (The agent is registered on NAR and checks out).

Thanks!

Lacey 

If you haven't tried ChatGPT yet, it is amazing! I've used it to write listing descriptions, consulted it for ways to address issues with tenants, and most recently used it to create a task list from an inspection report including trade services and tools required to complete the repair! All things I would have done manually. 

Would love to hear how you are using chatGPT for your real estate business!! 

Hi there,

We have strong candidates for renting our property but they are one year in the country. Is it a concern? Help me understand the pros and cons of renting to non-nationals.

Thanks in advance!

Lacey