Condos, short for condominiums, are individually owned units that compose one housing complex. The units may be attached or detached and can vary in size from studios to 3- or 4-bedroom residences. Homeowners’ associations cover these condos, often located in downtown areas. Among property investment options, condos are the most approachable due to their versatility, …
Continue reading “When is a Condo a Good Real Estate Investment?”
Owning multiple properties can be an exciting way to expand your assets and take advantage of growth opportunities as a real estate investor. But each new property will likely require additional financing, which leads to the question: how many mortgages can you have? In 2009, the Federal National Mortgage Association, commonly known as Fannie Mae, …
Nothing adds to curbside appeal quite like attractive landscaping. But upkeeping grounds is also one of the biggest pains of owning a rental property. The good news is that you can promote your property’s visual appeal without a major hassle. Here are some tips for producing an attractive landscape that’s simple to maintain. Take advantage …
As a rental property owner, you make every effort to select responsible tenants that pay rent on time each month. But no matter what precautions you take, no landlord will always receive rent on time. So, when a tenant misses a payment, what then? How should a landlord respond to maximize his odds of being …
Continue reading “How Should I Handle a Missed Rent Payment?”
Tax deductions let business owners offset business costs when filing their income taxes. Deductions lower the business owner’s taxable income, thereby lowering their overall tax bill. As any landlord knows, owning a rental property involves plenty of costs! Fortunately, many of those expenses have a corresponding tax deduction. To avoid paying higher taxes than necessary, …
Years ago, lead was a popular paint component since it kept paint moisture-resistant and fresh. But science has shown that lead is highly toxic. If ingested or absorbed, lead damages vital organs and causes developmental delays in children. As a result, the U.S. government outlawed lead-based paint in 1978, though some states banned it sooner. …
Continue reading “Do I Need to Make Lead-Based Paint Disclosures in My Lease?”
Most landlords collect rent on the same day each month for the sake of efficiency and predictability. But if a tenant can move in sooner than expected, why lose money by keeping the property vacant till the original start date? Or if a renter must stay in his unit slightly beyond his lease’s end date, …
A rental agreement should clearly state the important terms of a tenant’s property lease. Once signed by both the landlord and renter, it is a legally binding contract that lasts until the end date specified in the agreement. But what if something changes? A tenant who agreed to keep a unit pet-free might wish to …
When it comes to estate planning it’s tempting to procrastinate. It’s unpleasant to contemplate your incapacitation or death, and estate plans can feel distant and irrelevant while enjoying good health. But planning for the future is essential when passing your assets to your loved ones. And bequeathing rental properties may require special considerations. So don’t …
Continue reading “How Should I Handle My Rental Property in My Estate Plan?”
A glance across Main Street in a bustling town reveals a blend of restaurants, stores, and services at ground level with apartments rising above them. Many downtown condominiums inhabit the same city block as coffee shops, supermarkets, and theaters. Every day, more of these mixed-use developments rear their heads. And landlords wonder if they should …
Continue reading “How and Why to Invest in a Property with Mixed-Use Zoning”
