The strict lending policies and rising home prices have sidelined many potential buyers from the market. This has created a huge demand for rental properties. Rents are rising, and apartments are suddenly in high demand. It’s a jubilant time for landlords, but tenants are hurting. Their budgets are being stretched and their disposable income is dwindling.
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Here’s a bit of good news for small landlords: The Internal Revenue Service has introduced a “safe harbor” for deducting repairs to investment properties from ordinary income. Normally, the IRS does not allow you to take a full current-year deduction for anything they consider a renovation or improvement. They only allow you to take a first-year deduction on repairs, which the IRS defines as projects that do not materially add to the value of a property
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One of my favorite things to do in the heat of summer is stand barefoot on a nice cool lawn. The grass feels cool and moist, and I like to squish my toes around in the blades of grass. It’s just one of those sensory experiences I truly enjoy. But what if that same lawn has been dowsed in chemicals in order to achieve its lushness? Well, that sort of changes the experience, doesn’t it? If you’d rather minimize the use of herbicides and pesticides, here are a few lawn care tips you can use
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It doesn’t take long for a paperwork monster to take over your home. First, it creeps into your office as a modest pile that you tell yourself you will deal with later. Then it grows rapidly until it overwhelms the room and goes looking for somewhere else to invade. Before you let the paperwork monster take over your kitchen counter or dining room table, here are some tips to evict the clutter and manage things differently.
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For many buyers, the dream of owning a home continues to be just that – a dream. Skyrocketing home prices, stiff competition and increasing mortgage rates are becoming a source of frustration for many potential homeowners. According to CNN, buyers are getting shut out of the market in many big cities across America. Cities such as Las Vegas, San Francisco and San Diego have seen a price hike of 20 percent or more in the last year, according to Case Shiller.
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Lighting design can add value to your home as well as reduced energy costs. People are naturally drawn to a well-lit space, and the right lighting can enhance anyone’s mood. Use light effectively in your home to take full advantage of its countless offerings.
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Depreciation is a double-edged sword. It’s a big part of why real estate works so well with leverage as an investment. Taking the depreciation allowance on investment property is a critical part of the attractiveness of real estate investing, from the point of view of the cash-flow investor. But the rules governing depreciation are notoriously baffling, and occasionally trip up even tax professionals.
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