11 November 2024 | 3 replies
Now, each lease will be unique, so you can't apply this across all commercial leases, but commonly, LL is responsible for exterior and structural components, while tenant is reponsible for any interior items.How to best explain this: honestly, I would request the tenants have their own legal counsel review their respective leases.

14 November 2024 | 21 replies
Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually when rents are increasing or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

14 November 2024 | 6 replies
However, professional remediation is essential for quality results, complete documentation, and assurance that the job meets industry standards.
15 November 2024 | 5 replies
Hopefully, your previous PMC made the necessary documentation available to you.

13 November 2024 | 10 replies
While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.

13 November 2024 | 4 replies
Even if the tenant can’t pay, it sets the expectation and documents the issue.Small Claims Court: If the tenant refuses to pay, you could take them to small claims court, where you can seek repayment without needing a lawyer.Security Deposit: If the tenant has a deposit, apply it toward the damages.Consider Eviction: Given the arrears and damage, eviction might be a last resort to prevent future losses.Talk with your property manager to create a plan that minimizes further risk.

15 November 2024 | 10 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

16 November 2024 | 3 replies
Then additional expenses for virtual assistants, legal help, accounting, etc.

17 November 2024 | 9 replies
https://www.biggerpockets.com/forums/51-tax-legal-issues-con...

15 November 2024 | 3 replies
So, I decided to drive a nearby neighborhood close to my residence, recently and document addresses of seemingly vacant distressed properties.