Monitor Utility Bills to Prevent Property Liens The Threat of a Property Lien - utility providers and trash services can put a lien on your property if their bills are not paid! If these bills at your rental property do not get paid, even if they are in the tenant’s name, the service providers can still put a lien on the property for the debt.
The Synchronicity Investor - presents - ADVANTAGES OF BEING A LANDLORD
Owning real estate is to enjoy the many advantages, and tax advantages only available to this type of investment ownership. In fact, favorable tax rules are a big reason so many fortunes are made in real estate. The other big reason is that leveraging real-estate investments with mortgage debt, can greatly multiply the upside potential.
A common issue between tenants and landlords is the amount of the deduction that the landlord has taken from their security deposit. As a landlord there are specifics that you can do to alleviate these problems
How you run your rental business, will impact if the business is successful, or due to fail. The successful investor will have an operation manual which will qualify their operating procedures and help to keep them out of trouble by making autonomous decisions.
The Synchronicity Investor - presents - EBOOK FORMATS A GUIDE FOR EVERYONE
Everyone needs a GUIDE, and this booklet explains what you need to know about ebooks formats. Through the explanations within this guide, you will be able to maximize, and benefit from the formats that meet your needs, and the applications to be used.
Important Strategies That Investor Can Use Include Logging in the date the property was placed in service. When you first purchase a rental property, it will be considered “placed in service” on day one if there is a tenant in the property. If there is no tenant, then the property is not in service
The Synchronicity Investor presents FREE TREES To Beautify Your Property
One of the easiest ways that you can beautify your property is to plant trees on it! Did you know that the Arbor Day Foundation, a 501(c) (3) nonprofit conservation and education organization has free trees for you? To find out more just click on the icon, bottom left.
Real estate investors are always puzzled on the question of deductible expenses. The simple answer is to have an accordion file with vanilla files that you keep all your like receipts banded together. You should also create a ‘special file’ named UNKNOWN. In this file you will keep banded together everything you question for presentation to your quarterly meeting with your accountant team member.
There is only one ‘for instance’ that you should accept a partial rent payment from a tenant. That is when the tenant has been renting from you for several years, and has never been late, then you might want to give this outstanding tenant a chance to catch up and let them make a partial rent payment on the due date for one time only. This tenant has proven to be trustworthy!
Once you have placed your rental property into service, you will need to determine whether repairs and maintenance expenses that you incur should be classified as a regular expense or a capital improvement.
Landlords, Management Companies and Property Owners........ You must provide all prospective tenants with an official notice outlining the hazards of lead poisoning on a form prepared by your State Department of Public Health for all housing built before 1978. You must also enclose a copy of the most recent lead inspection report for the unit if there has been one, a letter of Interim Control if immediate steps are being taken to control the lead paint, or a letter of Compliance indicating that any necessary de-leading measures have been taken.
Capital Expenses or Expenditures are payments made by the investor / investment business to acquire or improve long-term capital assets (buildings and equipment). Capital expenses are significant purchases (adds to the value) that the investor / investment business makes as an investment. The cost of these capital expenditures is depreciated (capitalized) over a period equal to the useful life of that asset.