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28 June 2024 | 13 replies
Quote from @Eric Justice: Quote from @Anderson S.: Many have!
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28 June 2024 | 46 replies
@Justice Cm, you reply to the email that sent you the price quote.
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27 June 2024 | 37 replies
Same reason people ask criminal record.
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28 June 2024 | 5 replies
For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.
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28 June 2024 | 16 replies
In my area, they have recently made it a violation to turn down an applicant for having a criminal record.
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27 June 2024 | 14 replies
Unfortunately, the only serious applicants I've received either have a criminal history, poor references from previous or current landlords, or have faced evictions in the past three years.
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.
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25 June 2024 | 10 replies
-->"Justice for Renters Act" It's because of things like that, numbers, and the hope/prayer that appreciation will bail me out from a property running a negative all the time that got me looking elsewhere.
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24 June 2024 | 58 replies
It's called the "Justice for Renters Act."
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27 June 2024 | 41 replies
Do an internet search for Paul Gulbronson with the words criminal, scam, fraud and you'll find very interesting info.