Rental Property Investor · Tampa, FL · Member since 2016 · 11 posts · 8 votes
I just purchased a model home and leased it back to Ryan homes. This is in our contract. My question is, does Ryan homes (the Tenant) have to pay the property taxes, per the contract. I live in FL. If you need more information just let me know and I will post it as soon as possible.
Real Estate Investor · Williamson County, TX · Member since 2011 · 1k+ posts · 961 votes
9y
I am not a lawyer but it sounds like the taxes are meant to be included in the rent...just like all my tenants' rents include property taxes as well as insurance. The tax amount was left blank but that doesn't matter. It is not customary to itemize individual costs to tenants, just a single figure rent. And as you pay the taxes, you can deduct the taxes on schedule e.
Rental Property Investor · Tampa, FL · Member since 2016 · 11 posts · 8 votes
9y
Thank you Marian Smith. That is how I originally interpreted the contract, however, I was thinking what if the box was not checked? I just closed on two model leaseback properties and they checked one but did not check the other.
Rental Property Investor · Westminster, CO · Member since 2016 · 12 posts · 0 votes
5y
@Justin Wai, I know this thread is old, but curious how your investment on this leaseback went? If you don't mind sharing numbers that would be amazing. I am currently looking at doing one with Ryan Homes as well and am curious if you would do it again?
Fairfax, VA · Member since 2017 · 183 posts · 58 votes
5y
@Janelle Dekdebrun, piggy backing on this, I bought a Ryan home and leases it back to them. Pretty good experience.
Took a couple of months to receive the first rent, but it was always on time. The good thing is the appreciation. I’m on my second year. The lease with RH is over and I’m renting to private lender for a little less than what Ryan homes paid. Overall cashflow a are ok, but you get a better appreciation once all of the other homes are sold.