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1 July 2024 | 28 replies
Makes cleaning schedules easy to manage.
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2 July 2024 | 26 replies
For the first time I went way over budget but virtually met the schedule goal.
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1 July 2024 | 13 replies
Virtual assistants can handle calls, texts, appointment scheduling, and more, contributing to increased efficiency.
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30 June 2024 | 5 replies
Then I tell them I need to schedule an initial inspection within one week.
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30 June 2024 | 6 replies
Have leases available and a list of questions to discuss during your interviews, and give tenants whatever required advance notice is necessary for inspections during the scheduled interviews so potential managers can walk through the units with you.
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29 June 2024 | 1 reply
Get on a budget to help you.If you have questions, just don’t know what to do, please schedule an appointment with me, I can help you get there, help with a budget, get you back on track.
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29 June 2024 | 7 replies
@Sean O'Keefe how "timely".Sending owners an Annual Owners Statement with line items that correspond to Schedule E is not difficult.
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28 June 2024 | 2 replies
Then there would be a hearing scheduled for them to substantiate their claim to determine whether a mechanics lien is needed.
28 June 2024 | 10 replies
Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.