Frequently Asked Questions
Question about selling and buying property
Homes absolutely depreciate. As a physical asset, time takes its toll on any and every home on the market. Perhaps even more importantly, that’s how the IRS sees it, too. The powers that be (the IRS) have been kind enough to offset said depreciation with an allowance of sorts.
Otherwise known as depreciation losses, the IRS is willing to give rental property owners “allowances for exhaustion, wear and tear (including obsolescence) of property.” According to their website, “You begin to depreciate your rental property when you place it in service. You can recover some or all of your original acquisition cost and the cost of improvements … beginning in the year your rental property is first placed in service, and beginning in any year you make improvements or add furnishings.”
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Question about renting
Depending on the size of the house you need , the rent fee varies accordingly. You can check out our properties displayed to choose one of your liking in any location and at accommodative prices.