How to Boost Your Rental Property's Curb Appeal
May 11, 2022
Sometimes landlords can overlook the importance of an attractive curb appeal to the success of their rental home. But this should be on the list of priorities.
Your rental unit’s interior may contain luxurious furnishings and appear organized, but prospective tenants won’t see that until they come inside. The first thing that people look at is your property’s curb appeal.
Tax Season Tips for Landlords
April 14, 2022
Tax season is a busy time for everyone, but especially for rental property owners. It’s your duty to declare the rental income you received on your tax return form. Rental income is referred to by the IRS as payment received from renting out your real estate. This covers:
- Regular rental paid amounts
- Advanced rental paid amounts
- Security deposit payments
- Amount paid by tenants when canceling a lease
- Amount paid by tenants for expenses
- Received services or property in lieu of money for rent
Both new landlords and old landlords can find accounting for taxes to be complicated. With so many things to consider such as increasing rent rates and expiring eviction moratoriums, it’s more vital than ever to learn tax savings and capitalize on the deductions.
Here's a guide to taxes for landlords! It can help maximize your refunds so you can retain a better portion of your income.
How to Avoid Water Damage in Your Rental Property
April 14, 2022
Water damage is among the most common property concerns in Florida. Water damage comes in a variety of forms. It might be anything from an unnoticed leaking pipe that allows mold to grow to a full-fledged flood that seriously damages your rental home and the tenant’s belongings.
This post will look at various options for preventing water damage to your rental property. Thankfully, there are strategies to limit the danger of water damage to your property. Here are some pointers!
A Guide to 1031 Exchanges in Jacksonville
March 15, 2022
1031 Exchange gets its name from the Internal Revenue Code (IRC) Section 1031. In brief, it’s a swap of one investment property for another, allowing an investor to defer payment of capital gains taxes.
As a real estate investor, you may be able to exchange, for instance, raw land for an office building, a warehouse for a NNN retail property, or a rental house for a multi-unit apartment complex.
As an investor in Jacksonville, you should especially consider doing a 301 Exchange if:
- You’re looking for a better asset in a more desirable market
- You want higher tax-deductible expenses
- Want to leverage tax benefits of greater depreciation
With that in mind, for an exchange to be successful under Section 1031 of IRC, there are certain requirements that you must meet. The following is a guide to 1031 Exchanges in Jacksonville.
Best Cafes in Jacksonville
March 14, 2022
While it might come as a surprise to some, a good number of the best coffee shops in the USA have made their home in Florida! Places like Seattle or Boston may come to mind first, but in fact, Jacksonville is recognized for its high-quality cafes that both locals and travelers have come to enjoy. With the top restaurants located here, it makes sense that their coffee shops are equally as reputable!
Check out one of the cool spots on this list to get a taste of the new wave of artisan coffee and see what all the hype is about!
Pricing Your Jacksonville Home to Rent
Feb. 10, 2022
Pricing your Jacksonville rental accurately plays a big role in maximizing your investment income. For new landlords, they might be tempted to set the price based on guesswork, but this is illogical. If the rental rate is too high in relation to the property amenities available, then no one will be interested. If the rental charge is too low, then your returns won’t be optimal.
Reviewing how to assign the right price for your unit should be your priority. Look at the factors behind accurate rental pricing. If you succeed in setting the right rental fee, more prospective tenants will apply, ensuring steady returns for your Jacksonville property investment.
Tips to Prevent Tenant Damages to Your Rental Property
Feb. 10, 2022
Some things are inevitable in the life of a landlord. One such thing is tenant damage, which can range from scuffs on wooden floors to even smashed windows.
Luckily, as a landlord, there are several things you can do to prevent your tenant from damaging your real estate investment. Here are 8 tips to get you started!
How to Film a Great Video Tour of Your Rental Property
Jan. 17, 2022
If pictures speak a thousand words, then videos speak a million! Rental video tours have proven to be effective marketing tools for landlords. It’s even been found that video tours generate as much as 4x more leads than ads with just pictures!
This doesn’t mean you should avoid pictures in your rental ads, but you should certainly have a video tour in it. After all, prospective tenants have their preferences for content. Some prefer looking at videos rather than viewing photos.
What’s more, with social distancing being the norm due to the pandemic, many prospective tenants prefer viewing a virtual property than an actual one.
The following are tips to help you film a great video tour of your rental property!
How to Advertise Your Jacksonville Rental Property Successfully
Jan. 13, 2022
If your goal is to find the best tenants for your Jacksonville rental, then nothing is more important than gaining exposure. All you need to do is launch an effective advertising campaign! However, that’s easier said than done if you’re a new landlord.
This article will walk you through the process of attracting great tenants through effective advertising. Once you secure the right renters, earning the best returns for your Jacksonville investment property is sure to follow. It’s a direct result of the marketing efforts you’ve put in!
Top Golf Courses in Jacksonville FL
Dec. 14, 2021
Jacksonville, Florida is a hub of golf aficionados. As an established base for the PGA Tour, Jacksonville is where championships are regularly hosted, especially within the popular Ponte Vedra Beach area.
Golf enthusiasts have a choice of over 70 golf courses in Jacksonville ranging from different types of green courses to ones featuring diverse landscapes and wildlife. Whatever type of golf course you prefer, at any price point, it’s all here in Florida.
So, we at Innovative Property Solutions have put together this blog to take you through the best golf spots in Jacksonville.