Frequently Asked Questions
Questions about selling
A real estate broker is a licensed professional who helps people buy, sell and rent houses or commercial properties. Brokers can help clients find properties, prepare offers, and manage the closing process in compliance with laws. Licensed real estate agents operate under a licensed real estate brokerage.
Depreciation is the recovery of the cost of the property over a number of years. You deduct a part of the cost every year until you fully recover its cost.
Most U.S. residential rental property is typically depreciated at a rate of 3.636% each year for 27.5 years.
You must subtract the land value from the purchase price to calculate your building value. Let’s take for example the total cost of a property is $450,000. $450,000 minus $95,000 leaves you with a building value of $355,000. Next, you divide $355,000 by the residential useful life value of 27.5 years. Your annual depreciation value is $12,909.
Questions about renting
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