Dan Turkel
How to track income/expenses when income is net of fees
My property manager uses Appfolio. When I receive my rent payment each month, it’s put into my account as a single deposit. This number consists of the combined rent for all of my properties. It is also net of all exp...
Sahil Relan
Inheriting Tenants, Help Needed
Hi All,
I am about to purchase a 2-unit property in Chicago for 100k. It is an REO so I am not getting good responses from the seller. Here is my concern:
The property is already rented.
a. The seller says one of ...
Remone R.
Tenant breaking lease
So one of my tenants are soon as she is getting a voucher for new housing and has asked me if she can break her lease. Her lease ends November 30th, but in October she signed a new lease for 6 months starting Decembe...
Mark N.A
Craigslist Scam
So I've got a couple rentals posted on Craigslist. I get an inquiry from someone in the U.K. who is transferring here and s/he absolutely loves the house. I tell them the rent and security deposit.
So next email I ...
CJ F
Does the IRS compare tenant/landlord tax returns?
For example, if I state on my return I made 21000 for the year from a duplex, while one tenant says they paid 12000, and the other tenant says they paid 13000. Anyone know if the IRS computers go through and compare ...
David Scharler
Pet rent vs pet fee in Seattle
Hi, I'm thinking about charging pet rent instead of a non-refundable pet fee. Does anyone have any experience with pet rent? Can I just update my pet agreement and change the language to a monthly payment or do I need...
Marek Kucharski
How much to charge for wall holes, broken lightbulbs, and cleaning?
Here is my dilemma: My tenants just moved out (20 days prior to when their lease actually ended), but they left the house in less-than-ideal condition, after living there for only 2 years. - They were big fans of han...
Thomas Harpole
Need help calculating profit for a Fix-Flip deal in Denver, CO!
Hi there,
My business partner (Jordan) and I need some help calculating the profit for our recent fix and flip in Denver, Colorado.
We, as a joint partnership, originally purchased the home for
$340,000. Jordan ...
Zack Kosenka
Water Service Turned Off and In Different Name
Hello BP, I rehabbed and rented out my first rental property this April. Everything was going ok, until I got a bill for the water service between May 16-June 14 ...they offer a program that switches the service back ...
Atwan Kwan
What would you say to this tenant's email??
Got this email from the tenant.... What would you say??I'd say one of the worst parts of the job is doling out responsibilities when there's repairsAtwan, Just wanted to let you know that we had a shower tile break l...