Trevor Borg
Purchased Property with a Tenant, but Prior Owner Amended Lease Prior to Sale
Hello everyone, long time reader, researcher, podcast listener but first time posting, as I finally closed on a rental property a few days ago (wish I was posting on a slightly more positive note).I tried to search th...
Minh Le
Seller taking on another contract while escrow as not closed
Hi all,I have everything in place to close on a property purchase, however, Seller is wanting to take on another contract, because closing was delayed by a week, and we did not have an amendment to officially extend t...
Albert George
Small claims court hearing for unreturned sec deposit- Minnesota
I have a past tenant of mine, who filled a claim for unreturned security deposit. Below is the situationShe broke the lease before the 1 year term. She violated the lease by having pets and when i enquired she was not...
Michael Stutelberg
Duplex in Minnesota with shared meters how to bill for utilities
I recently purchased a duplex in MN and am wondering how billing for electricity (without separate meters) can be accomplished? I have all utilities in my name but would like to add a fee each month added to the rent ...
Ray Slack
Advantages of being a "real estate Professional" for tax purposes Vs disadvantages
So, I keep hearing about it being great to be classified as a "real estate Professional" for tax purposes. It seems the only benifit is to be able to deduct passive rental losses from ordinary income.. Since I have no...
Tom Lipps
Tenant's 30 year old son moved in, do I increase rent?
Hi BP Community,I've been looking for a rental property for about a year now in Cincinnati, Ohio and am about to close on my first property (Duplex, 2bdr, 1bdr)!I'm inheriting two tenants on the first floor (the 2-bed...
Brown Nathan
Depreciation Land Vs Building
I have always been using a 85% building and 15% land value for calculating my depreciation basis. Now my accountant is saying I have to use the tax basis and the county is assessing most properties in my county at 50%...
Isha Suri
Lease Agreement With Tenant and a LLC
Hello Everyone
I have to move out of my house due to job reasons. I am planning to rent my house. The house is on mine and my husband's name. I created a LLC with me being the only member on Sep 21st. I created the ...
Peter Turner
Will changing insurance type to rental create Issues with Lender?
First time trying to rent my primary residence and was wondering if the lender will find out when I change the insurance type from home owner's to Rental type.
If they do find out, will that create any realis...
Chang Pan
What should I do? Girlfriend boyfriend tenants broke up
The girl decided to move out and the boy decided to stay on the lease. What should I do paperwork wise?
Do I sign and termination agreement with the girl? Do I need to sign a new lease with the boy? Please let me know...