Friday, December 4, 2020 / by AJ Shepard
Jump in behind the scenes as Uptown Properties staff discusses what they look for when purchasing a rental property!
Tuesday, December 1, 2020 / by AJ Shepard
Even in the light of the ongoing COVID-19 pandemic, mishaps at home have not stopped. In the same manner, disasters brought about by the weather continue to happen despite the current situation.
Undoubtedly, many homeowners are wondering about the impact of COVID-19 on their home insurance coverage. While the pandemic's unprecedented effect on the economy is undeniable, not many are aware of the impact it has on their insurance coverage.
Many predict crucial variables can affect payments, claims, and costs down the road. However, no one knows for sure how everything will eventually play out over time.
Below are some of the ways the insurance industry has been responding to this unforeseen challenge:
Home Insurance Here's some good news: so far, COVID-19 has not significantly impacted homeowners insurance. That means your policy's property coverage stays as is, especially if you have been paying your premiums on time.
If you cannot p ...
Wednesday, November 25, 2020 / by AJ Shepard
Rental income is not created equal. Rent payments coming from friends and family come with unique complexities. There are several factors that investors need to take into consideration when renting to friends and family members. First of all, investors need to know the finer points of the ‘personal use’ tax trap.
If an investor moves family members into their property, such as a vacation rental, or, allows a child to stay in a property near the child’s college, or even moves their parents into a newly rehabbed rental property – the IRS deems these situations ‘personal use’ *unless the investor can prove that the property is a rental.
Personal use is handled like a second dwelling. The property owner loses the ability to deduct typical rental deductions.
A dwelling unit could be a house, apartment, condominium, mobile home, boat, or vacation home. It does not include property used solely as a hotel, motel, inn, etc.
Here is ...
Monday, November 2, 2020 / by AJ Shepard
In today's episode, Trent talks about navigating the Fall and Winter real estate season. Should you drop your rental rates to get your Investment properties leased up? You will learn all of these tips and tricks during this Fast-Paced Friday...
Thursday, October 29, 2020 / by AJ Shepard
In this episode, Alex and Trent get taken to school by their guest, Chris Shepard. Chris has a long history of real estate in his portfolio, so much that it became a full-time job which led to a property management company opening up down the road....