Running your rental business: Should you set up a separate property management company?

Maybe!  Having your properties and management duties separated into different companies can have many advantages. The main advantage of creating a management company is that you can easily deduct office expenses (even if that's a home office), vehicle expenses, and employee costs.   You can arrange healthcare for your employees, and set up retirement programs.  A … Continue reading Running your rental business: Should you set up a separate property management company?

Running your rental business: Should you purchase a home warranty?

In addition to an insurance policy, which typically covers fire, hail, and other major damage, you may want to consider purchasing a home warranty for your rental property.   A home warranty can be purchased from many companies, and will cost about $600 a year.  They will likely charge $75 or so per issue (and may … Continue reading Running your rental business: Should you purchase a home warranty?

Starting your rental business: Should you buy a fixer-upper for your property?

    You may be considering buying a "fixer-upper", dated property, or property in distress to fix-up and use as your rental property.  Before you jump in, there are many things that you need to consider! First, what kind of market are you in?  Are you in a market where hardly any properties are available, … Continue reading Starting your rental business: Should you buy a fixer-upper for your property?

Starting your rental business: The importance of a home inspection

You know the saying "buyer beware."  This is true, not only when you buy your personal residence, but is equally important when you buy an investment property!   There are several reasons to make a home inspection part of your home buying experience: identifying issues evaluation of the seriousness of issues possibility of negotiating the price … Continue reading Starting your rental business: The importance of a home inspection