All Forum Posts by: Therese V.

 Yes, last year I had them get a CPA because they were dealing with HR Block and the person said since they charge per form not to file all the extra forms they could. It's annoying, but we're past that now.

I just want to know do the capital gains, in this case maybe $90k get added to the social security amount to determine their capital gains rate or is it determined based on the amount of social security the person gets per year, or is the person considered to have $0 ordinary income to determine the capital gains rate for the $90k gain.

Someone I know bought a property in the 70s to use as a second home. They did this and then turned it in to a rental, self-managed, after a number of years. They never took depreciation on the property for whatever reason. The person is now selling the property for about $100k. The property has been vacant for the past 2 years. The only income this person receives is about $800/month Social Security (this person is in their 90s).

The person doesn't remember how much they paid for the property (either the realtor or the person will have to go to the assessor's office to see if there is some document on file stating how much was paid). Let's just go off paying $10k to make numbers easy. So, that's a $90k gain. Will that be added to the social security amount to calculate Capital Gains or is it dependent only on the ordinary income, is social security considered part of ordinary income to determine capital gains?

I'm trying to ballpark what might be owed for 2019 taxes for this person. Does it matter that the person never took depreciation, or much of any tax breaks for the property? The person usually never really owed any tax due to such low income in general.

Yes, I auto-reject them. Is this something common that happens?

The person has worked for the public school system for 3 years (in a major US city).

It isn't my rental, I just run the credit reports. But, I recommended to ask for a co-signor (it appears that will be the person's mom). 

I have been running in to people that use social security numbers that indicate multiple people are using them when I run the credit report. Is this something that happens often to any of you? How do you factor that in the evaluation? Do you auto deny? I denied because I couldn't establish rental or credit history, but curious to see how others treat the situation.

(I think one person was definitely trying to use another family member's info because it came up as a totally different birthdate associated with the social security number, BUT the credit check said that this person was one of the known people to use that social security number) They used one name on the app and then the email had the other person's name in it (like I wouldn't notice??)

I am looking at a potential tenant that has a solid job with the local school system. This tenant was in an abusive relationship and left and that caused an eviction proceeding when the partner stopped paying rent (court record searches confirm the story).

This person has a low credit score, a bunch of student loans that are constantly 120+ days late (I'm not sure if the credit report is indicating they aren't paying or just always paying really late- total of all debt is about $15k). The rental is less than 1/3 their monthly income and they have some medical bills in collections, 2 comcast and 1 verizon (dating back to the abusive relationship situation).

It seems to me this person may be trying to dig themselves out of the situation but I just want some additional input. I am leaning towards saying to accept with them understanding that rent must be a priority to pay each month (it's a month to month lease in a very landlord friendly state so eviction wouldn't be too hard and they would need both first month's rent and security in order to move in- in addition to having electric in their name).

There aren't any other qualified potential tenants that have come forward- the place has been "for rent" for months now and we have been getting people lying on the application, criminal records, wrong social security numbers, etc. So this person is looking more attractive because at least she didn't lie about the eviction and everything.

When I want to do an increase it's because my rent is now below market or some other cost has gone up. I write the tenant a letter and state what the new rent will be and what date that will be effective. I have month to month leases so I need to make sure that the letter is sent in advance of 30 days so they have proper notice. I may also offer a reason for the increase if it has to do with expenses, but that is not necessary.

I have done $50 rent increases to 2 separate tenants once already and added in payment of the water bill to one tenant. Other than that, the one location that I have had turnover I just added in payment of the water bill as part of what they owe.

@Colton S.

Tenants can work on cars but what if they get oil everywhere etc? Can you charge them for cleanup or tell them they must cease working on cars?

@Michele Fischer

Let's say a tenant is in a 2 bedroom home that the city limits to 2 people per bedroom. She has 3 children. So 4 total people landlord was made aware of at the time of move in. She moved in boyfriend (unannounced to landlord and thus putting them over the occupancy limit) and boyfriend has non-custodial children stay occasionally. 

I have seen people mention these scenarios when talking about screening tenants. What does a landlord do if that situation happens? They are clearly over the occupational limits of that locality. The tenant also has moved in someone that did not get the background checks and is not on the lease. This also makes the tenant a liar and untrustworthy? what remedies does a landlord have? Just file eviction even if they are paying since it is against a locality regulation to have that many people in that dwelling?

@Thomas S.

How does the "no trespass" to non-tenants work? Is that literally like saying no visitors or does it just apply to the person/people you think are over the occupancy limit or staying there without going through the background checks in place?