Archive for November, 2007
The current real estate climate should cause a shift away from home ownership and towards rental properties. Credit is available to fewer people than it was just six months ago, so more families will find themselves in rental housing. In addition, would-be buyers are in a holding pattern waiting to see what happens with the present housing slump
Investment property owners are well positioned in this scenario. While the value of their investment property may take a hit, increasing rents and declining vacancy rates should help offset some of this pain..
The last blog covered the top three tax deductions for rental property owners- mortgage interest, depreciation on real estate, and repairs. Here we will look at two more deductions. IRS Publication 527-Residential Rental Property provides added detail on the available tax deductions.
Rental real estate provides some of the best tax deductions available to any investor. Your property manager should be knowledgeable in this area and willing to share their expertise with you. The following are usually the best three deductions.