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6 October 2024 | 1 reply
We did not have the properties deeded in our name but have had rented out the property for 2 years and that's included on our taxes.
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5 October 2024 | 14 replies
The client copy of the tax return should include a depreciation schedule of each rental property that you have.If the tax return that you have does not include it, you should be able to request it from your accountant and ask if they can provide it to you annually going forward.The depreciation schedule will include the original cost basis along with the accumulated depreciation.Best of luck.
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5 October 2024 | 2 replies
When selecting your name, don't include a Comma.
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7 October 2024 | 16 replies
Other factors to consider include market growth, local laws, property management, and financing strategies.Good luck!
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6 October 2024 | 7 replies
@Dee Mandrekar highly doubtful there's such a big difference between market rent and S8 rent.First off, the GROSS S8 amount includes specific amounts for all utilities - electric, gas, water, trash, etc.We do NOT recommend including utilities in the rent because S8 only pays a certain amount and the owner is then exposed to tenant abuse of utilities.
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8 October 2024 | 22 replies
Property access instructions: Provide the guest with detailed access instructions in either your Welcome Guide, listing description, Reservation Manager or through the Vrbo messaging platform(For example, include guidance in your listing description about picking up a key from the office upon check-in.)OrB.
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6 October 2024 | 8 replies
Criteria can include location, population growth, job diversity, amenities, desirability of bedrooms and bathrooms, size, and comparable rents in the neighborhood.
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9 October 2024 | 39 replies
My go/no-go was break even (net 0 cash flow) under the following assumptions: 50% occupied at market rent (based on comparable properties) including 15% of gross rents to maintenance/cap-ex (at 100% occupancy) and utility costs.
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8 October 2024 | 14 replies
Some of the benefits I offered included a steady schedule, above-market pay, and verified clients.
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8 October 2024 | 16 replies
Here are a few of my top tips for making your property pet-friendly:Research local pet fees: Ensure your pet fees are competitive while still allowing you to cover potential wear and tear and make a profit.Set a pet limit: Specify the maximum number of pets allowed on your short-term rental platforms and highlight this in multiple areas of your listing, including your property rules.Provide pet essentials: Invest in items like a large dog crate and pet food bowls for guest use.Create clear pet rules: Share these rules with guests during check-in.