Question 1: I have a resident that is requesting permission to have a dog. She submitted a note from a doctor written on a doctor’s prescription slip. The note states “please allow my patient to have a small dog.” The building is a ‘no pet’ building, but the tenant is insisting she has the right…Details
Estate Planning For Apartment Owners – Super Investment or Unnecessary Expense? – By Attorney Kenneth Ziskin
Most of the apartment owners we have had the privilege to meet and work with are pretty frugal with their money. They rarely live in the most expensive homes, drive the most expensive cars or buy the most expensive designer clothes. They are the “millionaires next door,” who built a solid financial foundation on sound…Details
Today I want to address the soaring costs of healthcare, which are rising far more than the Obama administration and the Department of Health and Human Services will admit. While I personally don’t consider healthcare costs to be a political issue, many argue that it is indeed a political issue with regard to “Obamacare.”
QUESTION: I have a policy of charging new tenants a security deposit equal to one month’s rent. If a tenant has children, I add $50 extra per child to the security deposit since kids usually cause more damage than normal. Is this legal?
Something to Think About #44 – Uncle Sally’s Nephew, Part 7 By Klarise Yahya, Commercial Loan Broker – BRE: 00957107 MLO: 249261
The point of the Uncle Sally series has been to introduce the interested novice to some of the elements of income property investing. The hope is that misunderstandings might be avoided by opening a dialogue on at least a few of the elements a newish investor might face. One of these points is when to…Details
Hello everybody. Long time readers of this column may remember the article I wrote for the June 2011 issue of AOA Magazine entitled “Genital Herpes and Apartment Buildings – You Better Disclose!” The point of that discussion was that sellers of apartment buildings who know of hidden defects inherent in their property must disclose those…Details
Q. My tenant paid a security deposit of $2,120 for their one-year lease. At the end of the lease I deducted $650 for cleaning and damages. I sent the Security Deposit Itemization by certified mail to make sure my tenants received it and included a check for the remaining sum. My tenant is suing me…Details
Know the Difference Between a Repair and An Improvement – By By Terrence Jones, SPOSFI Business Member
When is a “repair” a repair and when is it a capital improvement for federal and state income tax purposes? This is a question that every small property owner contends with at tax time.Details
The best way to look forward to 2016 is to look back at 2015. In January 2015, these important charts were flashing “price boom” signals in the single-family residential market. Foreclosures steadily declined, returning to a small percentage of all properties sold. In the past, this ratio of foreclosures to sales enabled sellers to establish…Details
Each year after filing your tax return you may wonder if there might have been something else you could have done to reduce your income taxes. As the owner of multi-family rental real estate, you may be missing out on significant income tax benefits if you have not considered taking accelerated depreciation on your property.