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The Tax season is just around the corner. And as a landlord, now is the best time to start getting all relevant documents in order. Under federal law, landlords have a duty to report all rental income on their tax returns. As per the Internal Revenue Service (IRS), rental income can take many forms other than the typical monthly rental income. Rental income can include security deposit deductions, lease agreement cancellation fees, late rent fees, and any service the tenant may have rendered in exchange for living there. Essentially, you have…

Sure, rent is the bread and butter of any rental investment. However, it may not tell the whole picture when it comes to your investment’s profitability. And this is where cash flow comes in! You’ve probably heard it before; cash flow is king. And indeed it is! It’ll help you know how profitable and sustainable your rental investment is, or is going to be if you’re a prospective landlord. At Mark Thomas Properties Property Management, we understand the importance of cash flow. In this blog, we’ll cover the basics and how they can help keep you…

In Durham, where rental properties often offer similar features, standing out from the competition is crucial. Offering the right amenities can give you an edge in attracting tenants. Different renters prioritize different features. Professionals might need a parking space, while families may value extra storage. To effectively market your property, understanding the needs of your target audience is key. By tailoring your amenities to their lifestyles and highlighting these features in your listing, you can increase your chances of attracting …

As a landlord in Durham, your goal is to maximize the value of your rental property. Enhancing its appeal can attract more renters and justify higher rental rates. While upgrades might seem costly, there are several affordable ways to improve your property and increase income without increasing rent, making it more attractive to potential tenants. What Are Apartment Amenities? Apartment amenities are features that enhance the living experience, such as in-unit laundry, modern appliances, fitness centers, and community spaces. Additional ameni…

The appearance of a rental property plays a crucial role in attracting potential tenants. Curb appeal is the first thing potential tenants notice, and it can make a huge difference in how quickly your property is rented. A property that looks well-maintained and inviting is much more likely to attract quality tenants who will take pride in their living space. On the flip side, a property that looks neglected or rundown can give potential tenants the wrong impression, even if the interior is in great condition. It’s important to address these…