Go Back   CityProfile.com Forum - Local City and State Discussion Forums > United States City Forums > West Virginia
Click Here to Login

Reply
Old 11-03-2010, 02:07 PM  
Junior Member

Charleston, West Virginia
Join Date: Nov 2010
Posts: 1 | Kudos: +10
Renting out Carriage House

I'm want to rent out the Carriage house in the back of my property, I'm curious if anyone here has done it, and what you had to go through to make it legal. I'm fine just reporting the rent as income, but is there anything else I have to do stay on Uncle Sam's good side?
__________________

Reply With Quote
Old 11-05-2010, 01:06 PM  
Junior Member
 
207driver's Avatar

Wasilla, Alaska
Join Date: Oct 2010
Posts: 27 | Kudos: +11
Images: 2
I would worry more about local restrictions than Uncle Sam.
__________________

Reply With Quote
Old 11-24-2010, 07:06 AM  
Supporting Member
 
teaberryeagle's Avatar

Richmond, VA
Join Date: Sep 2010
Posts: 3,444 | Kudos: +200
Images: 16
Quote:
Originally Posted by Rhys View Post
I'm want to rent out the Carriage house in the back of my property, I'm curious if anyone here has done it, and what you had to go through to make it legal. I'm fine just reporting the rent as income, but is there anything else I have to do stay on Uncle Sam's good side?
You need to take a good look at the person/family you plan to rent to, don't be afraid to check their background and income and be sure to spell out everything in a lease......I rented my house while doing an extended stint on the road in my motorhome, and had to end up putting the belongings on the curb and lost all the rent monies.
Plan to collect a month's rent in advance plus another month's rent for damage insurance (which you return after the end of the lease if you find your property as in the beginning.) Don't take anything for granted with them, even family and friends..........renting is a business. Sometimes it's not worth the hassle unless the income offsets the headaches....
Reply With Quote
Reply

Go Back   CityProfile.com Forum - Local City and State Discussion Forums > United States City Forums > West Virginia
Bookmark this Page!

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes


Suggested Threads

Powered by vBadvanced CMPS v3.2.3

Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.