All Forum Posts by: Andrew Guza
Andrew Guza has started 2 posts and replied 4 times.
Post: How to claculate taxes on a new rental?
- Posts 4
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Hi everybody!
I am thinking of buying a rental in Maricopa county.
Trying to figure out how rents will be taxed?
Rent is 1K per month, so 12K per year.
Property taxes are 2K/ year
How am I gonna be taxed on the rents that I receive? Is this 12K in rents that I will receive from the tenant will be taxed like an ordinary income? (I am in 30% tax bracket, so approximately 4K I will have to pay in taxes then for this rental In addition to the 2K property taxes? )
Thank you!
Post: Seller is renting after closing
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- Votes 0
Originally posted by @Greg M.:
Lack of a lease shouldn't make eviction significantly harder. You have proof of purchasing the home. You have proof of October rent being paid. That should be enough for a competent judge to understand what the terms were if you need to evict. Besides, it doesn't sound like they would be showing up to court to fight the eviction if it comes to that.
Personally, I would stop worrying until the November rent wasn't paid. Right now getting back in contact with you might be the last thing on their minds. Also, where did they go? Maybe internet access is limited? Did they go to London or to Umutara, Rwanda?
If you want a key, call a locksmith. They will make you one or you can change the locks and let the tenant know that you secured their place while they were out of town. I'd consult an attorney before changing the locks and if making a key to enter, follow proper procedure to advance notify them of your intent to enter.
Thank you so much!
They went to England.
Thank you for your reply. I really appreciate it!
Post: Seller is renting after closing
- Posts 4
- Votes 0
Any advice would be greatly appreciated!
Post: Seller is renting after closing
- Posts 4
- Votes 0
Seller asked to rent the house for couple of months after the sale of the house, until they find another home, which I agreed to. I bought the house. Now the seller is living in the rental and I will refer to them as renters.
The renters paid for October, then went out of country for death in the family. Went out of country quickly before signing the lease,
I emailed the wife (don't know husbands contact info) and have not heard back from her yet.
Problems:
1) I need to get signed lease from them.
2) Rent for November is due Nov 1st.
3) I have no keys to the house because right after the closing they paid October rent and went out of country
How to get them to sign the lease? What would you do?
I am worried that without signed lease it would be hard to evict them if things go sour (state Florida)
Thank you!