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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…

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For landlords who desire to have their rental unit in excellent shape when the renter leaves, starting a tenant walk-through inspection is a good idea. Often, those who choose to do an initial walkthrough with a new tenant will end up with little property damage than those who rush the process or forget to do it at all. A walk-through inspection protects both the landlord and the tenant. Normal wear and tear is, well, normal, but excessive property damage is something you'll want to avoid. Here are seven ways to perform an initial walkthrough …

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As a rental property owner, you’re obliged to declare your rental income on your tax return. Under the IRS definition, rental income is the payment given to property owners for the use of their rental home. This includes: ● Regular rent payment ● Advance rent payment ● Security deposits ● Tenant payment for lease cancellation ● Expenses paid by the tenant ● Property or services received in lieu of money as rental payment Whether you’re a new or experienced property owner, taxes can be daunting. If you make a tax mistake, it might ha…

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Staying near your rental property may be challenging for several reasons. Staying close makes things easier, but long-distance landlording can be successful if you’re ready for its challenges. Investors can use advanced technologies and services to buy property everywhere and get the most out of their investments. If you own properties located far away, you must understand how to effectively manage them to meet your financial objectives. Let's look at how to become a successful long-distance landlord. Hire a Local Property Management Company On…

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A 1031 Exchange allows an investor to exchange one investment property for another without payment of taxes. 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 payment of capital gains tax almost an infinite number of times. Consequently, you may be able to build significant wealth over time as you exchange one property for another. …

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