Q. I know it says you cannot have owned a home in three years, does this apply to a rent house, which is considered to be a business, not a home?
I can put the rent house under a corporation, and it would not be under my name.
I can put the rent house under a corporation, and it would not be under my name.
A. It refers to *where* you are living.
I can own a "2nd home" or rental property and still qualify if I can show I was renting my main home for the past 36 months.
Think about it. Your rental house will show up on schedule E of the 1040 for the past 3 years because of course you reported the rental income....
I can own a "2nd home" or rental property and still qualify if I can show I was renting my main home for the past 36 months.
Think about it. Your rental house will show up on schedule E of the 1040 for the past 3 years because of course you reported the rental income....
I want to owner fiance my rent house to my current renters. How do i go about the paper work? Who do i talk to
Q. The renters that live in my rent house right now have lived there for about 10 years and have been on time on their monthly rent. I am not in a hurry to sell my rent house but i would like to owner finace with them. The renters don't have very good credit but they are very intrested in buying with owner finance. If I owner finace it would be a win win situation. I can sell my house and maybe get some interest on top of that and the buyers would get to own their first home.
A. Here is a link to a Wiki "How-to" article that pretty much walks you through the process:
http://www.wikihow.com/Sell-Your-House-Using-a-Lease-Option
Good luck with your real estate endeavors.
http://www.wikihow.com/Sell-Your-House-Using-a-Lease-Option
Good luck with your real estate endeavors.
Just moved into a rent house. Carpets were cleaned but still smell of animal urine. Is this a health hazard?
Q. Me and my girlfriend just moved into a rent house. The previous tenants had many dogs and the carpet smells of animal urine. Even after they have been profesionally cleaned the carpet in many spots still smells of animal urine. I was wondering whether this was a health hazard, and could the landlord be forced by law to replace the carpet. We have just moved in and have payed first months rent. Any help would be greatly appreciated. We live in Texas as well, maybe the laws are different. Thanks again!
A. Microban is a product used by steam cleaners and is also used in many allergy reducing products. I would try to get the carpet replaced, that is what pet deposits are for, replacing carpet. You should find out how long the previous tenants lived there, this will show how old the carpet is and just how much urine is in it. If you have kids, I would definitely not allow them on it. The padding should be replaced, this is were the smell is really soaked into. The carpet could be cleaned and rid of the smell, but the padding is not going to get clean from any prof. cleaning. Fight!!!!
Decorating Ideas for a Rent House?
Q. I recently moved into a rent house and would like some ideas about decorating. Of course I can't paint or do anything permanent to the house, but I really want to make it feel comfortable and like home. Any personal ideas you have or websites would be great.
A. Assuming that you already have your furniture like beds, dining and living sets, then you can do the following:
For dining table, use a nice table runner, place a bowl of fruits in the middle, or a vase of flowers. Have a rug underneathe table and chairs. For living area, add nice cushions for your sofa, have a few table lamps on side tables or floor lamp, picture frames on walls and tables, plants or flowers, carpets or rugs, candles, a few books or magazines on coffee table and a bowl of potpourrie.To add warmth to a room, have wooden furniture, wooden blinds with curtains for windows and lots of soft furnishings. If you like a room to be bright and breezy, use bright and cheerful colors. For bedrooms, choose nice colors for your bedspread, place pictures and table lamp on bedside tables, a small plant or jewelry box. For bathrooms, buy towels which have nice colorful designs or prints on it so your towels are like a decor themselves when you hang them in the bathrooms. Place all your items in basket or box on countertop. Have a nice rug in bathroom. For kitchen, buy interesting utensils that not only work for you but are decor pieces themselves. For example, I have a brush shaped in a potato which I use to clean my potatoes! Also an egg whisk that has a handle that looks like a chick. A cow shaped paper towel holder. I think you get the idea. Have colorful kitchen cloths and apron. If you have a table and chairs in kitchen, add interesting cushions with farm animal or fruit designs on them. Buy placements of same. These are all movable and personal items which you can use in your home decoration, easy and practical.
For dining table, use a nice table runner, place a bowl of fruits in the middle, or a vase of flowers. Have a rug underneathe table and chairs. For living area, add nice cushions for your sofa, have a few table lamps on side tables or floor lamp, picture frames on walls and tables, plants or flowers, carpets or rugs, candles, a few books or magazines on coffee table and a bowl of potpourrie.To add warmth to a room, have wooden furniture, wooden blinds with curtains for windows and lots of soft furnishings. If you like a room to be bright and breezy, use bright and cheerful colors. For bedrooms, choose nice colors for your bedspread, place pictures and table lamp on bedside tables, a small plant or jewelry box. For bathrooms, buy towels which have nice colorful designs or prints on it so your towels are like a decor themselves when you hang them in the bathrooms. Place all your items in basket or box on countertop. Have a nice rug in bathroom. For kitchen, buy interesting utensils that not only work for you but are decor pieces themselves. For example, I have a brush shaped in a potato which I use to clean my potatoes! Also an egg whisk that has a handle that looks like a chick. A cow shaped paper towel holder. I think you get the idea. Have colorful kitchen cloths and apron. If you have a table and chairs in kitchen, add interesting cushions with farm animal or fruit designs on them. Buy placements of same. These are all movable and personal items which you can use in your home decoration, easy and practical.
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