The Internal Revenue Service (IRS) requires landlords to declare all rental income received when filing taxes. But as you probably know, filing taxes can be a stressful and intimidating process, especially for new and experienced landlords alike. Tax season has been made even more stressful due to eviction moratoriums coming to an end, the price
To maximize your investment revenue, you must price your Pocatello rental correctly. New landlords may be inclined to set the rent high to maximize ROI, but this isn’t very smart. No one will have interest in your property if the rental rate is too high especially compared to other available properties. On the other hand,
Having a vacant unit defeats the fundamental purpose of being a landlord in the first place. Worse still, a vacancy is costly. Just because you don’t have a resident doesn’t mean expenses like property taxes and mortgage payments will stop coming. What’s more, vacant rentals can be susceptible to numerous risks, like vandalism, unchecked water
Advertising a rental home requires crafting a strong property listing. Your ability to market using clear and interesting descriptions sets you apart from your competition. Your goal is to make prospective residents pause when scrolling through property listings. They should be inspired to contact you for inquiries and book a property showing. Mastering techniques in
Choosing the right resident is one of the key components of a successful rental property. The ideal resident is one who will pay their rent on time, maintain the property, and adhere to the terms of the lease agreement. But to find this person, you need to have an effective resident screening solution. So, we
As a landlord, there will come a period where you’ll feel the need to increase your rental fee. Even if the rental property generates a steady income for several years, you may determine that a rent raise is necessary. Before taking this radical step, however, ask yourself if any changes to rental price may lead
Owning an investment property is the first step to earning recurring passive income. Once you’ve secured your property, you’ll need to find dependable residents. Such a resident will care for your property, rent long-term, and pay rent consistently. As you’d probably guess, landing such residents isn’t always easy. Despite the time and effort required, a
Most landlords require their residents to sign a lease before moving into their Idaho rental properties. A lease is a legally binding document that states each party’s rights and responsibilities. All residents in the U.S. have is the right to the quiet and peaceful enjoyment of their rented premises. It’s an implied covenant that guarantees
Opening your rental to residents with pets can fill you with dread if you’re unaware of the benefits that pets bring to your business. As a rental owner, it’s good to be pragmatic and check out the opportunities of being a pet-friendly unit. Given the high percentage of pet owners and its rate of increase
Property video tours are the rage nowadays. Face-to-face property showings can take up a lot of time. After being interested in your listing, viewers can check out a virtual tour to see if the rental fits what they’re looking for at a basic level. Contrary to popular belief, video tours are not hard to create.