0
Can you claim repairs on rental property even if the house is not being rented?
Wiki User
∙ 9y ago
I am going to assume you mean "claim the repairs as a deduction on your federal tax return." If so, the answer is generally "yes", but the deduction could be limited in some way. Best to consult a CPA on that issue. (Disclaimer: answer not intended as legal advice.)
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
How much does a weekend car rental cost for around town?
Car rental prices vary depending on the car being rented. It also varies depending on the date it is being rented for.
How expensive is Penske Truck Rental?
A Penske Truck Rental's price depends on what truck is being rented and for how long. The larger and longer the rental is for the more expensive the rental will be.
If a landlord cashes a check to which he is not entitled due to property being re-rented does the money get treated as rental income or a constructive trust?
That depends on the decision rendered by a judge after she has heard the facts of the case.
Can a condo assoc allow only 1 condo to be rented and not allow any other to be rented?
The condo association has to adhere to the by-laws. If the by-laws agree to rentals, and condo can be rented. If there is no rental provision, then not even 1 condo can be rented. It's all-or-nothing.Another AnswerThe governing documents, more commonly the CC&Rs and any amendments, can specify a 'rental cap', meaning that a defined number of units can be rented at any one time.Your governing documents will specify this number of rentals allowed, and your board or property manager can help you discover and understand this guideline.If your association is small and there are fewer than 10 units, only one rental may be allowed. If, however, your association is larger, a larger number may be permitted.Lenders review the rental percentage in an association before offering mortgages, and when the rental number is too high, all else being equal, a mortgage may be denied if the rental percentage is too high.There may also be other factors involved in the rental question in your association.
What does a rental lease consist of?
A rental lease is a legally binding contract which lists all of the responsibilites of the landlord to the tenant and vice versa. Generally, a lease will state the address being rented, amount of time to give proper notice of vacating the premises, names of individuals living in the property, responsibilities of each party, etc. Please note that each state has different landlord-tenant laws and each rental property may have a different lease.
What happens to my primary residence when I can't find a tenant for my rental property and it goes into forclosure?
Assuming the rental properties under foreclosure, it is only that property that is being foreclosed.
How cheap are Enterprise car sales?
One would need to inquire with Enterprise Car Rental to determine a price, as the price is determined by several different factors, such as the vehicle being rented, the amount of time the vehicle is being rented for, and the mileage that to renter will be driving.
Can you get approved for a new mortgage if you have an existing home which is being rented out?
Yes, you can. You add the rent to your income and add the payment to your monthly bills. The difference is called "positive cash flow" and it's ideally what you want to have or you will be losing money as a landlord. Owning rental property and making the payments on time with positive cash flow is a good thing when trying to get a mortgage, HOWEVER if you are getting a mortgage for more rental property, expect to pay a higher interest rate. The key is to finance it as your primary residence and live there for a while before converting it to rental property.
What are the prices at Budget auto rental?
The prices at Budget auto rental are going to depend on many factors such as the type of vehicle being rented an how long you are renting it for. You can get a compact vehicle for as little as $15 and an SUV for as little as $22 on weekends.
Making changes to leases while being rented.?
You should check your state's law regarding rental leases. Leases are legal contracts that generally cannot be changed until they expire. Reference http://www.ocl.pitt.edu/rental/lease-guide.html
Does homeowners insurance cover if it is being rented?
No, When you rent your home out to someone your Homeowners Insurance Policy is automatically null and void whether or not you have notified your insurer. If you have become a landlord you need to purchase landlords insurance for your property. This is done by obtaining a Dwelling Policy with a rental dwelling endorsement. Just contact your insurance agent and he can help you place the right coverage for your tenant occupied property.
What can you do if you rented merchandise and it was stolen from you and you are now being charged with theft of property?
I hope that when the items were stolen from you that you reported this crime to law enforcement authorities so that there is an official record of the theft. However - even so - take a close look at the rental contract - it may contain wording that make you responsible for whatever happens to the items while they are in your possession.
