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There are tax advantages to owning an investment property. These may include the following tax deductions:
- Mortgage interest,
- Interest on credit cards used to make purchases for the property,
- Insurance,
- Maintenance repairs,
- Travel expenses,
- Legal and professional fees, and
- Property taxes.
In addition, the purchase price may be depreciated based on a set depreciation schedule, even if the property is actually appreciating in value.
We are here to help you and your clients with all aspects of the rental market. Please contact us for further assistance!
Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.
