What is a good resource for learning how to rent out an apartment I own?

Oct 26, 2009 in Commercial Mortgage FAQ

I do NOT need listing services like craigslist. I need information about insurance requirements, setting up personal finances to account for rental income, tax implications, etc.

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2 comments

kgreives on October 26, 2009 at 7:19 am

I know I am not answering your question, but I do not know a place to send you for the information you are looking for. I am a Landlord of 23 properties in Florida and I can answer specific questions you may have, to a limit. Insurance you need to have homeowners Insurance and tell your agent that the house will be a rental, that way you are not paying for all items in the house, unless of course you are renting a furnished unit. I have no special account, all the monies go into my personal account and all repairs come out of my personal account. You will pay tax on the profit you make, I am not an accountant so I don’t know what your tax implications would be, an accountant can answer that for you. If you have any other questions please feel free to add details post another question or you can email me through Yahoo Answers. Good Luck KG
kimmamarie on October 26, 2009 at 7:19 am

Go to mrlandlord.com It is a question and answer forum that is LL based that will answer all your questions. Even though I have been a landlord for 12 yrs, I still find new forms and answers to some questions I had. These LL’s are from all states.

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