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When you decide to rent to a family member, it may seem like a win-win situation for you and your loved one. You believe your property will be well-maintained by this person you trust, and in return, you could help them by reducing their rent. However, you as a taxpayer may be unaware that renting to a family member has different tax implications than renting to others. If you are not careful, you may fall into a trap that might reinstate your rented property as a personal residence. If this happens to you, the IRS could deny rental expense ded…

Do you want to advertise your rental property online? At least 73% of rental seekers used online resources for their search process. Traditional marketing methods like yard signs (18%) and print ads (11%) were much less effective. Digital marketing can add a significant upswing to your tenant selections while lowering your vacancy rates. Learn all the tips for savvy digital marketing strategies here. Apartment and Home Rental Sites More and more renters are using rental listing sites to search for their next rental. Online listing sites offer r…

Did you know that 93% of homeowners are happy with their current housing situation? Even if you're part of that 7%, there are plenty of ways to change things. For example, if your current property isn't what you want it to be, you always have the option of owning rental property. Of course, deciding to own rental property isn't always as simple as it seems. For example, if you're already a homeowner, it makes sense to start by renting out your current home. But what about other situations? For example, do you have a family member that you'd lik…

The average annual pay for landlords in the US is $73,659 as of 2022. This shows how investing in real estate is a lucrative business opportunity. So, are you thinking about renting out your apartment? What can you do to make your home more appealing and memorable? Preparing your property for rental is among the best real estate investment tips you should learn. It allows you to attract the best tenants. Also, renovating your property can help you maximize your rental income. Existing tenants are more inclined to stay in a trendy house that is …

Did you know that around 80% of the homes in the US in need of updates are at least 20 years old? If that sounds like your rental property, it may be time to consider renovations and even house additions. Choosing to add home additions to a home you live in is hard enough, but trying to figure out if you want to do it for a property you rent out is even more difficult! After all, you're paying money for something that you don't get to benefit from directly, so it can be an intimidating thing to do. Are you thinking about increasing the square f…