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This year marks 110 years since the Sixteenth Amendment was first ratified by a majority of states, which was the birth of the income tax. The Internal Revenue Service (IRS) has been auditing people and small businesses ever since.
Managing rentals is not an easy task, and looking for creative ways to increase rental income, minimize expenses, and cut losses is always a chore. Here are five creative and simple ways to increase your rental income that you can start doing today!
If you are married but have never had a roommate, you have not missed your chance. Due to current socioeconomic trends, these days married couples are looking for roommates to share a household and cut rental costs. The reasons for such a decision – which might at first seem like a desperate act – are not connected only to a lack of financial resources, but also to one’s personal attitude toward adulthood.
If you are a newbie in the property management business and are preparing to rent out your first property, you are probably wondering where to start. Should I look for tenants first, or is it more important to compare rental prices?
If you live in the northern half of the United States, it is likely that your current landscaping situation resembles the north pole. However, for those of you in warmer climates, winter is the perfect time to get your rental looking sharp with some landscape maintenance.
Real estate rental investments can yield a high return on investment (ROI), which is why many people look to it as a viable alternative investment. When the right factors converge, like a hot rental market, a good property purchase, landlord business savvy, rentals can be lucrative.
If you have no clue how to describe a problem tenant, you’re a lucky landlord. Dealing with difficult renters can be a landlord’s worst nightmare. Bad tenants have been known to do everything from refusing to pay rent on time, damaging appliances and furniture or even conducting criminal activity in the rental. If all these behaviors belong to one and the same tenant, that’s a disaster. But if a tenant was late with the rent one time, it doesn’t automatically mean they’re a terrible renter. Don’t jump the gun. Instead, carefully analyze the circumstances first.
Gun control is a hot topic and has been for years. The Second Amendment has sparked heated debate on both sides of the issue, the focus usually being what the government will restrict or permit. But what gets left out of the conversation is what private citizens can impose on each other (the Second Amendment is between the government and citizens, not citizen to citizen). In the rental world, the question is can a landlord place limitations on their private property, or does a tenant have the right to bear arms within their rented home?
