Matthew A Brady
Refusing to evacuate the premises
Hello AllMy tenant informed me that she would not be able to pay rent and would be out by the end of the month. She is out of my duplex, but she had some family staying with her without them being on the lease. My ten...
Account Closed
April 15th is 10 days away! Why Filing an extension is NOT the end of the world.
Tax season is in full swing, and for most individual taxpayers, the looming deadline for filing and payment is Monday, April 18, 2022. However, life can get complicated, and if you find yourself needing more time to g...
Danay Ramirez
Foreign individual direct ownership
Income tax: A foreign investor receiving rental income from U.S. real property must pay income tax. Usually, the rental income is considered effectively connected with a U.S. trade or business, and therefore, it is ta...
Richard Alvarez
Tenant Bankruptcy -- delaying w Skeleton Bankruptcys -- 3rd party taking over space?
I need help and hope someone has tried this before. I have a tenant that has not paid for over 6 months rent (becoming dire), they continue with first a Skeleton Bankruptcy, followed by not completing the paperwork pr...
James Syed
5 Day Notice Illinois
Hi BP.I have a tenant who has NOT paid rent for this month (August), rent is due 1st of every month according to lease agreement. I sent her a 5 day notice via certified mail with return receipt requested because she ...
Guilong Wang
Landlord received claim of practicing RE without RE licence
My husband and I own a property and I took care of the markeing, showing and tenant screening. We rent it out months ago. Recently, I receivedd a call saying he represented the state Commonwealth, Department of State,...
Chris Hamm
Is a Tax Return necessary for a LLC holding property w/ no income
Hey folks. I created a LLC to own a vacation property in Virginia. The LLC has 4 members. Each own 25%. We own the land and the house in the name of the LLC. We have never rented it, and never plan to rent it. ...
Bienes Raices
Making a loan to an LLC
What would be the rationale for making a loan with a promissary note from your personal name to your LLC instead of just making a capital contribution? Is there some tax advantage to doing that? It seems simpler to j...
Jennifer H.
Should you rent to a tenant who filed Chapter 13 Bankruptcy one year ago?
What are your thoughts to renting to a tenant who went under Chapter 13 bankruptcy? Tenant that applied has a very low credit score of 545 and is under Chapter 13 bankruptcy. Credit check reported bankruptcy on ...
Roschelle McCoy
Placing judgment against prior tenant facing bankruptcy?
A prior tenant moved out quite abruptly in the middle of a lease period owing about $2K in back rent and lease break fees (specifically outlined in the lease). I've been communicating with the tenant over the past fe...