All Forum Posts by: Richard Prater

can i still use a lease extension form if i raise the rent and/or change the lease length from 18 months to 12?

can i still use a lease extension form if i raise the rent and/or change the lease length from 18 months to 12? 

Ok thanks.  

Where can I find a receipt templet or book for my tenants?

i was told that if the building is worth $100K, then there is no tax on the first $3600.  ($100K/27.5 yrs = $3600) so i could make $300 a month tax free.  But what if it's paid off and the rent is $1000 per month.  i understand there is still no tax on $300 of the $1000 but what about the other $700 i get per month?  in other words, is there a tax benefit by NOT paying off the mortgage? 

how does the depreciation tax credit work on a paid off rental property?   are we taxed more or less vs a rental with a mortgage? 

its my first rental sf property.  Should I Escrow Taxes and Insurance in with the mortgage?

My real estate agent found a tenant.   The concern is he has a 100#  Rottweiler!   It's my first rental property completely rehabbed with new everything!  Should I have a weight limit on pests?  Should I avoid  aggressive dog breeds?