New Landlord Questions
Hello, I am a new landlord with my tenant moving in a few weeks. I bought my home in April 2011 and have been making improvements to the home without a renter since then. I have a separate checking account for all expenses related to the home and its improvements. I am going to be using QuickBooks 2013 to track my rental income and expenses going forward. My question is should anything be done about the improvements I have made to the home in the past 2 years? Should they be factored into the value of the home or should I just ignore them and just account for the expenses going forward, since the home was not being rented?