Preparing Your Rental for Lease
As we quickly approach the summer season, we are also approaching the best time to lease your property all year. The majority of leases are signed during the summer and mainly run for 12 months so there is a perpetual need for housing that rises during the summer. If you’re the owner of a rental property in Austin, here are some quick tips to get your home rent-ready for an influx of tenants this summer.
Replace old fixtures and appliances
Cleaning will only take you so far. After a while, it’s better to replace something that’s years old instead of continuing to clean and repair. Stoves, fridges, laundry, dishwashers are good replacements to make when the currents become bogged down with problems. If you are a landlord that provides a furnished rental, be sure to replace the furniture as needed.
Window Blinds
We might as well call these things dust catchers. Sometimes your tenant does their best and cleans these, but they can do so with disregard to damaging the blinds. Blinds easily break and cleaning them can be delicate. You could consider hiring a blind cleaning company and utilizing their special equipment for the job. They may seem easy, but damaging your blinds and having to ...
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Security Deposits: Facts for Austin, Texas Landlords
Unlike most states, Texas doesn’t have laws specifying the amount of deposit you can charge new tenants but we do have laws protecting this money for both the landlord and the tenant.
Limits on Security Deposits
Owning a rental home is no small feat and you should be proud. However, not everyone considers your rental home the precious asset that it is to you. The good news is that Texas is one of the most landlord-friendly states in the Union. Currently, there is no limit on what a landlord can charge for a security deposit. With that said, it’s popular to charge up to one or one and a half month’s rent. Going above this can hurt your property when trying to find excellent tenants. You may be the best landlord in the Austin metro area but if you charge too much for entry into your property then finding quality tenants on time will be harder. Keep in mind there is no shortage of rental options in a city like Austin.
Returning the Security Deposit
The deadline to return a security deposit to your tenant upon move-out is 30 days. There are a few stipulations that allow you to keep the security deposit regardless of this. They are as follows:
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System - Wednesday, March 21, 2018Tax Write Offs For Your Austin Rental Property
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Owning a rental property has always offered great benefits to the owner. Almost all of their expenses can be deducted come tax season due to owning properties being treated similar to owning a business.
Tax season is approaching and many of you may be preparing close out your fiscal year with as many helpful deductions as possible. Here are a few tax deductions to keep in mind for your Austin, Texas rental home in 2018.
You Can Write Off Interest
Most property owners already know that they are able to write off the interest they pay on their mortgage for their investment property. This is typically the largest write-off of the year for any owner, however, there are several other types of interest one can write off for their property. Be sure to write off any interest paid on credit cards, lines for credit, and any other loan used to acquire, maintain, or improve your Austin rental.
Don’t Forget About Depreciation
In a city like Austin, you might not expect to be able to write of depreciation for your property. After all, hasn’t most of Austi...
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