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What should the rental amount be on a house when the mortgage payment is 900 dollars a month?
Wiki User
∙ 17y ago
You can rent it out for the amount of the payment like $900.00 or you can rent it out for more or less. It also depends on what area you are from. One area charges more for rent then another area does. Just do your research.
Wiki User
∙ 17y ago
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How do you calculate rent amount for condo in Canada?
Usually an owner wants to cover the mortgage payment and the monthly assessment payment. The market rate will be a good indicator for the base rental amount. If the unit is furnished, comes with access to association amenities or is otherwise 'above average', the owner can charge a premium.
What is the average cost of renting a condo?
When you rent a condominium, the owner may be interested in at least covering the cost of their monthly loan payment and their monthly assessment payment. If the unit is furnished, expect to pay a premium. As well, the owner will price the rental amount on the local market.
If the cost of cleaning a rental exceeds the deposit amount is the renter liable to pay the excess?
Yes, if the expenses are justified.
How much can you make renting out a house?
Depending on the size if the house and how many bedrooms will usually determine how much money you can make from renting it. If you rent it to one person you will probably make less money than if you rent it in a room by room basis to individuals, as you can charge them individually. All rental arrangements will ensure you cover the cost of the mortgage on the property, however you should always get rental cover so that if your tenants can't pay their rent, you will not be left short trying to pay the mortgage.
In non-reaffirmed mortgage after chapter 7 is occupancy legally equivalent to renting if you've lived here for 6 years after chapter 7 and only recently fell behind on the payments thus foreclosure?
Try to keep your payments from falling more than 90 days behind. Our mortgage company will not do anything until that point. Also, in our case, our mortgage company might be willing to consider a skipped payment or extension for certain circumstances. Mortgage companies do not look forward to the costs of taking over a home and foreclosing. There would be a limited interest because they likely would have to make repairs, pay an agent, etc. Check with them to prevent foreclosure, especially given how long you have lived in the home! As for your question on renting... What rental property do you know that will allow you to take a tax deduction on any interst you might pay?
How do you calculate rent amount for condo in Canada?
Usually an owner wants to cover the mortgage payment and the monthly assessment payment. The market rate will be a good indicator for the base rental amount. If the unit is furnished, comes with access to association amenities or is otherwise 'above average', the owner can charge a premium.
Do mortgage lenders consider rental history?
yes mortgage lenders do consider rental history source of your credit score
How do buy to let mortgages work?
A buy to let mortgage is a mortgage loan that an investor uses to purchase a rental property for producing residual income. The loan amount and the interest rates are different than a conventional mortgage.
How do you treat Rent Received in Advance as a landlord?
Any rent received is just that: payment for the right to live in a rental unit. Advanced rent basically means the tenant has paid X amount of dollars for his rent. If this amount exceeds the month's rent then the extra amount is applied towards future month's rent up to the amount received.
Is there mortgage relief for rental properties?
Unfortunately, mortgages for second houses and rentals do not qualify for mortgage relief.
How does one refinance their investment property?
An individual can refinance his or her investment property by lower one's monthly mortgage payment and increase one's rental income. Use one's equity to purchase additional property.
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.
Rental payment income and imputed tax?
When you are able to itemize your deductions using the schedule A of the 1040 tax form and you deduct the mortgage interest to help reduce your income taxes you have a type of imputed income that you have received.
Which of the following are reimbursed costs for a rental vehicle?
Rental Costs. Tax and Local Assessment. Payment for gas and oil. Transportation to and from rental.
What is the average amount of miles put on a rental car per rental?
$100 per day is the average amount of miles that are put on a rental car per rental day.
How do you make an online payment with aarons rental?
William Dupre
Is the mortgage of a rental house considered a business expense?
yes. along with repairs to the property.
