Rent Bureau

Best Rental History Bureaus And How They Work

Rental history bureaus are among the most valuable resources available to landlords in screening tenants. Rent bureaus compile and provide information about potential tenants’ past rental behavior to help landlords better predict if they are the right tenants for their property. These bureaus can also perform criminal background checks and identity verification to flag potential…Read More

how often should landlords paint rental properties

Landlord vs. Tenant: Who Paints the Rental Property & How Often?

Navigating the maze of responsibilities for painting rental properties can often leave landlords and tenants in a bind. Who holds the brush, and how frequently should walls get a refresh? Key Takeaways: Generally, landlords bear the responsibility for repainting rental properties to maintain them. Repainting frequency varies, but landlords often aim for every three to…Read More

tenant vs occupant

Understanding Tenant vs. Occupant Roles: Key Strategies for Effective Landlord Management

Landlords must distinguish between tenants, who sign leases and bear financial responsibilities, and occupants, who reside without these obligations. This understanding is crucial for effective property management and avoiding legal complications. Key Takeaways: Tenants are lease signatories with financial obligations and rights, while occupants reside in the leased space without these responsibilities. Tenants handle rent…Read More

Landlord Guide: What Is Considered Normal Wear and Tear?

Wear and Tear vs. Tenant Damage: Navigating Security Deposit Deductions

Navigate the fine line between wear and tear and tenant damage with ease. Discover the key distinctions that safeguard your investment and ensure fair security deposit practices. Key Takeaways: Understanding Wear and Tear: Recognize natural property deterioration as unavoidable and not chargeable against a tenant’s security deposit. Identifying Tenant Damage: Learn to differentiate damages that…Read More

tenant destroyed rental property

Landlord’s Guide to Handling Tenant Property Damage: Legal Actions and Rights

Discover essential strategies for landlords facing tenant property damage. From legal rights to actionable steps, learn how to navigate this challenging situation and secure your investment against deliberate or accidental harm. Key Takeaways Immediate Action is Crucial: Quickly document and assess property damage to determine the next steps. Legal Rights Protected: Landlords have clear legal…Read More

renting out a room in your house

How To Rent Out A Room In Your Home

Most people think of landlords and tenants living in separate spaces, but what about when you decide to rent out a room in your home? When you do this, you become a landlord just as surely as if you owned another building that you would be renting out completely. Still, the rules and regulations might…Read More

Tax consequences of transferring property to LLC

What Are The Tax Consequences Of Transferring A Property To An LLC?

As landlords expand their rental property portfolios, many opt to transfer property to a Limited Liability Company (LLC), creating a clear distinction between personal and rental income. If you choose to go this route, moving to a single-member LLC won’t impact your overall tax liability, as you’ll still file through your personal tax return. However,…Read More

When Is Property Considered Abandoned In California?

Mastering California’s Abandoned Property Laws: A Comprehensive Guide for Landlords

Being a landlord in California involves more than just managing properties; understanding the state’s abandoned property law is crucial. This law dictates how landlords must handle personal belongings left behind by tenants. Failure to comply can lead to legal complications and financial penalties. Key Takeaways: – California law requires landlords to follow specific procedures for…Read More

Fake Landlords Scam: What To Know (Podcast #423)

In this week’s podcast, Andrew Schultz discusses the latest fake landlord scam to hit the market. Make sure to warn your tenants! How do you go about a lease that’s technically for a guest, but it’s not necessarily subletting? Find out now. And, last, but not least, what happens when a landlord gets along with…Read More

7 Tips For Landlord Tax Deductions

7 Tips For Landlord Tax Deductions

Updated February 2024 If you’re navigating the complexities of rental income tax deductions and seeking some answers, you’ve landed in the right place. The current tax system can be advantageous for landlords because it allows them to deduct expenses from their income, reducing their overall tax bill. Yet, taxes can be a maze. Landlords, regardless…Read More