All Forum Posts by: Bei He
Bei He has started 14 posts and replied 37 times.
Post: How to get building value for rental depreciation (tax purpose)
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Thanks everyone! At the end, I found the land value in my appraisal report which is $199k, then used the purchase value - $199k as building value to depreciate. Because my appraisal = purchase price, and I rented it out right away. so should be all good no need adjust meant =)
Post: How to get building value for rental depreciation (tax purpose)
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
I purchased a Gilbert rental property last year now I'm doing my 2021 tax.
I have a question for the Arizona property depreciation.Usually we should use the building value, which is (purchase cost - land value) to do depreciation. In CA, it's easy just use the building/land value ratio on property tax bill to allocate your purchase price -- x% for land, y% for building.
Wonder how you determine your AZ property building value? Is there any website to find that?
Sorry completely new to AZ side.
Post: Sacramento Max Rent Increase for 2022?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Hi, my dear BiggerPockets folks,
I have a rental at south Natomas Sacramento (95833 zip code). Have not increasing any rent since covid. Currently rented at $1900 vs. I checked the similar home rent at $2400-$2900. The same tenant has been living there for 3 years. Defiantly this year I need to increase rent but I found this really confusing from city of Sac: https://www.cityofsacramento.o...
Any one clear so in my situation the max increase would be 9%? from $1900 to $2071?
also pasted below for easy read:
2021 ANNUAL RENT ADJUSTMENT MAXIMUM RATE
Effective July 1, 2021, the annual rent adjustment maximum rate will be 9%.
The Tenant Protection Program annual rent adjustment is 5% plus the percentage of the annual increase in the California Consumer Price Index (CPI) for All Urban Consumers for all items, if any, but not to exceed a maximum of 10%.
The annual rent adjustment maximum is determined annually based on the April CPI as calculated by the California Department of Industrial Relations (DIR) and released in mid-June. The DIR calculated the April 2021 CPI at 4%.
A tenant may not waive this limitation on the increase in rent and rent cannot be increased more than once every 12 months. Landlords who increase the rent above the annual rent adjustment maximum and/or more than once every 12 months are subject to administrative penalties up to $25,000.
Post: Sacramento Area any HVAC company to suggest?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Originally posted by @Greg Lieberman:
Mine was $9,000 with Rocklin Heating and Air for a single stage system by Carrier, in April of 2019. My house is two stories and about 2600 square feet. My neighbor across the street lives in a 3200 square ft house and his was $12,000. But being that we are about to have a lot of triple digit heat, you can expect the demand and the price to be higher than the colder months.
FYI: Single stage just means it blows at 100% power or it’s off. Versus dual stage that can blow at 50% or 100% power. Or incremental stage that blows at the exact amount of power needed for whatever job it’s doing. I assume the majority of people have single stage.
Thank you Greg! I think for rental single stage totally make sense. =)
Post: Sacramento Area any HVAC company to suggest?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Originally posted by @DJ Dawson:
I can send you a contact, he does all my projects. I will DM you.
Thank you DJ! Appreciate!
Post: Sacramento Area any HVAC company to suggest?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Originally posted by @Greg Lieberman:
@Bei He
When mine went out I got five bids. They ranged from 12,000 to 22,000. Rocklin Heating and Air was the lowest. We used them and they were great! In fact, I just referred them to my neighbor and he was really pleased with their work too.
Thanks Greg! I so far got 1 company quote 3 kinds of systems from 16k to 23k...so expensive =(
I actually installed AC and replaced heating in my home in San Jose this year and only spent $13k. was a bit shocked that Sac price is so high.
Post: Sacramento Area any HVAC company to suggest?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Originally posted by @Jeremy Brown:
Oleg installed a new system and ducts for me in a rental house that didn’t have central HVAC before. I was very happy with his work and the price.
https://goairflow.com/
Thank you Jeremy! Do you mind share how much roughly cost?
Post: Sacramento Area any HVAC company to suggest?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Originally posted by @Jason Rhodewalt:
Good Guys Heating and Air did mine in two rentals - cheap and great work. Easy to schedule and got it done with no drama
Hi Jason, do you mind share the rough cost? I'm trying to proper budget it too.
Post: Sacramento Area any HVAC company to suggest?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Hi,
I have a rental in Sacramento 95833 zipcode. 2 stories 1500sqft. AC is 15 yr old and stopped working. I am planning to replace it. Wondering anyone have good company to recommend?
Thanks,
Bei
Post: Will you rent to this situation?
- Rental Property Investor
- San Jose, CA
- Posts 37
- Votes 10
Thanks everyone's input. I end up gave them 2 choice, either 2x deposit, or get a co-singer to bring the average credit score above 650. They chose the 2x deposit.
Signed the contract, tenant move in 2/5. Will update later see how it goes =)