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.
- Inflexus Management Acquires Diego Homes Property Management Group - Virtual Press Office (press release)Inflexus Management Acquires Diego Homes Property Management GroupVirtual Press Office (press release)SAN DIEGO, Oct. 20, 2014 /PRNewswire/ -- San Diego property management company Inflexus Management announces its acquisition of Diego Homes Property Management Group, marking its third acquisition in 2014. Diego Homes Property Management ...and more »
- Berkeley considers outlawing pet restrictions on rentals - SFGateSFGateBerkeley considers outlawing pet restrictions on rentalsSFGateShould landlords be forbidden from banning pets in their rental units? Yes, you should be able to have a pet as long as it is well-behaved. No, a landlord has the right to dictate what happens on his or her property. This is hardly the weirdest law ...and more »
- Lai Sun Development earnings driven by rentals and property sales - South China Morning Post (subscription)Lai Sun Development earnings driven by rentals and property salesSouth China Morning Post (subscription)Lai Sun Development recorded core earnings of HK$333.2 million for the year to July, driven by stronger rental income and property sales. The company posted an underlying loss, excluding property revaluations, of HK$201.4 million a year earlier.and more »
- Inflexus Management Acquires Diego Homes Property Management Group - Virtual Press Office (press release)
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