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Privacy PolicyExpenditures – Part 2 In a recent newsletter (Expenditures – Part 1) we discussed some basic principles regarding expenditures including those that (1) may be deducted in the year made, (2) must be capitalized, (3) must be amortized, and (4) must be added to basis. In this newsletter we continue the discussion of expenditures by […]
Some Questions & Answers * * * * * * Q1 Can I ask a tenant to move out (in 30 days) so that needed work may be done on their unit? No current lease or rental agreement is in effect. A1 There is always a lease or rental agreement in effect. If there is […]
A Tip for Better Rent Collection Never Give the Tenant a Reason Not to Pay Rent Collection of rents is arguably the most important issue related to property management. Most landlords depend upon the monthly rent to cover mortgage payments, property taxes, and other property expenses. When tenants fail to pay rent, these landlords may […]
Some Questions & Answers * * * * * * Q1 Can you provide information on foreclosure vs. short sale for rental properties we own and cannot get the loan modified to rent? A1 You have asked a question which would require thousands of words to adequately answer because there are several separate primary issues […]
Lead-Based Paint Disclosure Penalty Increased In a final rule published in the Federal Register on June 22, 2011, the Department of Housing and Urban Development (HUD) raised the maximum civil money penalty for failure to disclose lead-based paint hazards. The increase adjusted for inflation as required by the Debt Collection Improvement Act of 1996. The […]
Some Questions & Answers * * * * * * Q1 I received a notice from our HOA saying a tenant had a BBQ in the common area which needed moving. I let the tenant know by phone. He ignored calls and now we have HOA fines. Does Arizona law require me to give tenant […]
Expenditures – Part 1 In a recent newsletter, we discussed which receipts are income and which are not income and when income must be reported. In this newsletter we will begin a discussion of expenditures. Because expenditures can be of different types with different reporting procedures, the subject of expenditures is more complex than the […]
Some Questions & Answers * * * * * * Q1 Is the landlord responsible for the cost of food spoilage if a tenant’s refrigerator breaks down? A1 Your question says “tenant’s refrigerator.” If the refrigerator truly belongs to the tenant, the landlord would usually have no liability. If the problem resulted from lack of […]
Advertising Your Rental Vacancy Hello? – Any applicants out there? If you’re not getting applications, do potential renters even know you have a vacancy? Are you missing out on rental income because your advertising doesn’t reach your target market? Tenant selection will be a moot point if you do not have applicants to screen and, […]
Some Questions & Answers * * * * * * Q1 As a landlord in Baltimore, MD, where can I get information on what I need to know when acting as my own agent to sell my property; i.e., sale by owner? How do I negotiate with another real estate agent representing a buyer? A1 […]
