Do you have to tell the IRS about income from a rental property? Yes! Even if you only have one property or only do short-term rentals? Yes! The IRS considers income from renting a property as part of your total taxable income. If you don’t report it and they catch on, the financial consequences can…Read More
If you’re managing commercial property, whether office spaces, retail units, or multi-family units, you probably have multiple properties, multiple tenants, and a huge pile of paperwork to track. It can feel overwhelming. Effective real estate management software designed for commercial properties can be a game changer when it comes to streamlining, optimizing, and growing your…Read More
There are many reasons to remove a tenant from your rental property, from nonpayment of rent to property damage. When these situations arise, you need a legally sound way to address the issue and remove the tenant from the property. Should you issue a notice to vacate or an eviction letter? These are both legal…Read More
Tenants who always pay their rent on time deserve a boost to their credit score, right? Unfortunately, this doesn’t happen on its own. Although rent makes up a large portion of most tenants’ monthly expenses, only credit-related payments are automatically reported and included in credit score calculations. But this does not include rent. Rent reporting…Read More
As a landlord involved in rental property investment, you’ve probably heard the term IRR tossed around. IRR, or internal rate of return, is more than just a buzzword, though—it’s a key that unlocks the true potential of your real estate ventures. Few metrics give as much insight as the IRR. It’s more than just a…Read More
As a landlord, you know how much you have to juggle to manage your rental property. You deal with marketing, screening, leasing, maintenance, accounting, and more. And you have to do it all while keeping your tenants happy and vacancy rates low. Enter the power of artificial intelligence (AI). AI isn’t just a buzzword or…Read More
Do you want to make more money from your rental property? You can join the new trend of renting it to people who need a place to stay for a short time. These are usually travelers who prefer a homey environment over a traditional hotel. There are currently two big names for listing your property…Read More
As a landlord, have you ever received a Fair Housing complaint or been contacted by a Fair Housing tester? If so, you know the anxiety and confusion that can cause. And if this is the first time this has happened, you may also be wondering what Fair Housing testing is and how it can affect…Read More
Yes, it is a legal requirement for landlords to install and maintain functioning smoke detectors in all rental properties, to ensure your tenants are living in a safe environment. Laws do vary among the states, but you can assume that maintaining a working smoke and carbon monoxide detector is a minimum requirement. Local laws will…Read More
If you want to take out loans and find lines of credit for your real estate business, your business needs to be considered creditworthy. A strong business credit score will make you look more attractive to banks offering loans and mortgages and more viable to other businesses that you might want to work with. But…Read More
