Advance Rent. Advance rent is any amount you receive before the period it covers. Include it in your rental income in the year you receive it regardless of the period covered or your method of accounting.
Payment for Canceling a Lease. If your tenant pays you to cancel a lease, include the payment in your income in the year you receive it regardless of the method of accounting you use.
Expenses Paid by Tenant. If your tenant pays any of your expenses, include these payments in your income. You can deduct the expenses if they are deductible rental expenses.
Property or Services. If you receive property or services, instead of money, as rent, include the fair market value of the property or services in your rental income. If the services are provided at an agreed upon or specified price, that price is the fair market value unless there is evidence to the contrary.
Security Deposits. If you plan to return a security deposit to your tenant at the end of the lease, do not include it in your income.
- Pinion RE Group begins property management - Chaffee County TimesPinion RE Group begins property managementChaffee County TimesPinon Real Estate Group–Buena Vista has recently created a full-service property management division within its real estate firm. Whether you own commercial property, wish to lease your property for relocation, or just for the weekend, Pinon will ... […]
- Lisa Sicotte: Unlicensed rentals have unfair financial advantage - vtdigger.orgLisa Sicotte: Unlicensed rentals have unfair financial advantagevtdigger.orgAdvertising a residential home as a rental for nightly or weekly lodging used to generate income is considered running a business, and therefore requires commercial insurance rather than residential insurance. The vast majority of homes that are rented ... […]
- Renting a House From Wall Street - Fox Business (press release)Renting a House From Wall StreetFox Business (press release)Over the last three years, there has been a 44% increase in institutional investments in the residential sales market, according to new research by the property data and analytics firm RealtyTrac. Gary Beasley, co-CEO of Starwood Waypoint Residential ...and more » […]
- Pinion RE Group begins property management - Chaffee County Times
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