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A 1031 Exchange allows an investor to exchange one property for another and have it be tax free. It gets its name from Section 1031 of the U.S Internal Revenue Code, which spells out the rules that an investor must abide by when exchanging an investment property for a replacement property. If you follow the exchange process correctly, you may be able to defer capital gains tax payment almost an infinite number of times. Consequently, you may be able to build significant wealth over time as you exchange one rental property for another. As part …

That first impression of your home's outside, also known as curb appeal, is crucial when renting your property. Whether you are a short or long-distance landlord, consider the facade of your house from the viewpoint of someone seeing it for the first time to determine how appealing it is to potential tenants. Influenced by several factors, curb appeal includes the exterior color and condition of your home, the landscaping, as well as the general upkeep of the exterior of the building. Here are a few easy ways to ensure that your property stand…

Owning rental properties is a lucrative investment, but it also comes with a significant responsibility. Many landlords put a lot of effort into finding and managing tenants, but essential annual tasks often go overlooked. This guide will discuss ten crucial things landlords should do yearly to maintain their properties, ensure tenant safety, and protect their investments. Whether you're a seasoned property owner or just getting started, staying on top of these tasks is essential for a successful rental business. Recalculate Fair Market Rental…

Deciding to hire a property manager or do things on your own to manage your rental property business depends on a variety of factors including your availability, level of experience, personal situation, and financial considerations. We at McKenna & Vane Property Management put together this article so you are aware of the advantages and disadvantages of each and serve as a guide in making an informed decision. Property Management Duties New investors think that the equation for a rental property is straightforward. Just deduct the expenses …

If you’re planning to move somewhere, the first thought that strikes you may be selling your current home. However, selling your home when the market is in a downturn can leave you at a disadvantage. Property owners who want to wait until market conditions improve can decide to rent out their vacated home. A rental property generates a monthly income that can add to your finances until the economy is rising again. When you pressure yourself into selling your unit right away, the bidding price may be lower than your expectation. To avoid this, …