Author: Rentals America

Tax deductions let business owners offset business costs when filing their income taxes. Deductions lower the business owner’s taxable income, thereby lowering their overall tax bill.    As any landlord knows, owning a rental property involves plenty of costs! Fortunately, many of those expenses have a corresponding tax deduction. To avoid paying higher taxes than necessary, …

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Years ago, lead was a popular paint component since it kept paint moisture-resistant and fresh. But science has shown that lead is highly toxic. If ingested or absorbed, lead damages vital organs and causes developmental delays in children. As a result, the U.S. government outlawed lead-based paint in 1978, though some states banned it sooner.  …

Continue reading “Do I Need to Make Lead-Based Paint Disclosures in My Lease?”

Most landlords collect rent on the same day each month for the sake of efficiency and predictability. But if a tenant can move in sooner than expected, why lose money by keeping the property vacant till the original start date? Or if a renter must stay in his unit slightly beyond his lease’s end date, …

Continue reading “The When, How, and Why of Prorated Rent”

Here’s the latest rental activity and trends for the Phoenix Metro area for March 2023: Closed Rental Units: 2,254 (17.64% increase year over year) Median Lease Rate: $2,090 (0.48% decrease year over year) Average Lease Rate: $2,241 (1.28% decrease year over year) Average Days on Market: 41 (70.83% increase year over year)

A rental agreement should clearly state the important terms of a tenant’s property lease. Once signed by both the landlord and renter, it is a legally binding contract that lasts until the end date specified in the agreement.   But what if something changes? A tenant who agreed to keep a unit pet-free might wish to …

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When it comes to estate planning it’s tempting to procrastinate. It’s unpleasant to contemplate your incapacitation or death, and estate plans can feel distant and irrelevant while enjoying good health. But planning for the future is essential when passing your assets to your loved ones. And bequeathing rental properties may require special considerations. So don’t …

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A glance across Main Street in a bustling town reveals a blend of restaurants, stores, and services at ground level with apartments rising above them. Many downtown condominiums inhabit the same city block as coffee shops, supermarkets, and theaters. Every day, more of these mixed-use developments rear their heads. And landlords wonder if they should …

Continue reading “How and Why to Invest in a Property with Mixed-Use Zoning”

Here’s the latest rental activity and trends for the Phoenix Metro area for February 2023: Closed Rental Units: 2,185 (20.58% increase year over year) Median Lease Rate: $2,095 (0.24% decrease year over year) Average Lease Rate: $2,292 (0.97% increase year over year) Average Days on Market: 41 (65.38% increase year over year)

A homeowner association (HOA) is an organization that supervises a subdivision of apartments, townhouses, condominiums, or single-family homes. Every property owner within the subdivision automatically becomes an HOA member. As such, he must pay dues to the organization and abide by its policies. In turn, the HOA’s board of directors oversees the proper maintenance of …

Continue reading “Tips for Working with a Homeowner Association”

During the screening process, landlords must ensure that potential tenants are financially able to pay rent on time and in full each month. But answering application questions doesn’t necessarily offer adequate assurance. Responses may be manipulated or may not represent consistent, ongoing income. As a result, property owners may ask applicants to provide proof of …

Continue reading “How Should Renters Show Proof of Income?”