In the past, Property Managers, in most cases, could acquire their own Transaction Privilege Tax (TPT) license for reporting rental tax on behalf of clients. That is no longer the case. Model City Tax Code Section 310(e) states:
In today's news, there was a report that a Phoenix area Real Estate agent was arrested for stealing jewelry out of a listed home that she showed. Not only did police track some of the jewelry to the pawn shop she had sold it to, but pawn records show that she probably stole from many more unsuspecting home sellers. Generally, real estate agents are extremely trustworthy, but just like in any profession, there are bad apples. Even though it is highly unlikely that a licensed, fingerprinted, Code-of-Ethics bound REALTOR® will pilfer through your valuables, it is a possibility that someone to whom they are showing your house would. Your home could be a target for other crimes, as well. Here are a few tips on keeping your home, your valuables, and yourself safe while you are waiting for it to sell:
So, you've just bought your first investment property - now it's time for it to start making money for you! In order to realize a positive rate of return, it's important to find a good long-term tenant that will treat your rental with respect. So, how do you go about that?