New 1099 Reporting Law Repealed On April 14th President Barack Obama signed into law a bill repealing expanded IRS Form 1099 reporting requirements that was part of last year’s health care legislation as a revenue-raising measure. The law repeals a section of the Patient Protection and Affordable Care Act of 2010 that would have required […]

We provide here a few questions that have been posted in the Community Forums and our answers to them. *   *   *   *   *   * Q1                                            There is ample parking in the driveway for 4 vehicles, yet my tenants continue to park on the lawn in spite of several warnings. The City ordinance states that […]

Disposing of Income Property Some Often Ignored Issues There are many issues that can cause problems when selling an income property, some of which are not always considered even though quite basic. Attention to the following issues can reduce the number of potential delays and conflicts during the sale process. Some Contract Issues Illogical Contingencies […]

We provide here a few questions that have been posted in the Community Forums and our answers to them. *   *   *   *   *   * Q1 A future tenant made a deposit on a unit, but now says she will not move in because the schools aren’t good enough for her kid. I have waited […]

Pet Agreements Ownership of pets is becoming increasingly important to people. Because such a large percentage of potential tenants have pets, allowing pets in rental units significantly increases the size of the applicant pool when it’s time to fill a vacancy. Also, since pets are not allowed in a significant percentage of rental units, tenants […]

We provide here a few questions that have been posted in the Community Forums and our answers to them. *   *   *   *   *   * Q1 I’m looking for the legal limits when raising the rent on lease renewal and anything specific on that issue within the state of AZ. A1 Except for properties subject […]

Quit Claim Deeds Sometimes misnamed a “Quit Claim Deed,” or worse, a “Quick Claim Deed,” a Quitclaim Deed, is a very useful document under certain circumstances, but has characteristics that make its use risky under many circumstances. Most real estate investors will run into use of a quitclaim deed at least once during their investment […]

We provide here a few questions that have been posted in the Community Forums and our answers to them. *   *   *   *   *   * Q1                                                                 Is it legal for the seller to voluntarily pay the buyer rents for the property before the closing occurs, based on proposed settlement date? A1 The basic answer is […]

New Record Keeping Requirements for Landlords As if a landlord didn’t have enough to do…now this! New legislation passed under H.R. 5297: Small Business Jobs Act of 2010 will have an impact on tax reporting for landlords and investor-owners. The “landlord provision” under Section 2101 established that “a person receiving rental income from real estate […]

We provide here a few questions that have been posted in the Community Forums and our answers to them. *   *   *   *   *   * Q1 One of my tenants recently phoned to tell me he is filing bankruptcy under Chapter 7. He has 5 months to go on a one-year lease. He is current […]