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What is the Fair Housing Act and What Virginia Landlords Should Look Out For?

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For individuals who operate in the rental industry, including landlords and property managers, it’s important to be familiar with the Fair Housing Act. The details covered in the Fair Housing Act were developed to prevent both intentional and unintentional discriminatory housing practices. While no rental professional wants to behave in a way that treats tenants …

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normal wear and tear vs property damage paperwork

Normal Wear and Tear vs Damage – What is the Difference?

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Being a landlord comes with an array of challenges, one of which is differentiating normal wear and tear from property damage. Though it can be complicated to determine where certain instances lie on the spectrum, it’s essential for landlords to carefully evaluate their concerns so that they can make accurate deductions to their tenants’ security …

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What Can You Charge Against a Security Deposit in Virginia?

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Security deposits play an important role in the landlord-tenant relationship, as these exchanges provide assurance for both property owners and tenants alike. In Virginia, it’s essential for both landlords and tenants to understand what can and cannot be charged against a security deposit. This article aims to shed light on what sort of expenses can …

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Do Virginia Landlords Have to Accept Section 8?

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Since 1968, when Virginia’s Fair Housing Act was established, the state has consistently aimed to create a fair and equitable housing environment for its residents. Virginia’s housing laws protect several classes of people from discriminatory housing practices, and the newest addition to this system of laws covers “source of funds” protections. This addition has plenty …

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Do You Have to Pay Back Depreciation on a Rental Property?

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Investing in rental properties can be a rewarding venture, as this investment option offers a potential source of passive income and long-term wealth accumulation. One important aspect of managing rental properties, though, is dealing with depreciation. While depreciation can provide tax benefits to property owners, there is often confusion about whether or not these deductions …

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Transfer Orders? How to Manage a Rental Property

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Rental property management can be a challenging task, but the complexities multiply when you’re doing it from abroad. However, with the right strategies and tools, you can successfully navigate the distance and ensure your investment remains a lucrative and stress-free venture. In this comprehensive article, we’ll explore practical tips and effective methods to help you …

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Do I Have to Pay Capital Gains Tax on a Rental Property?

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Investing in real estate, particularly rental properties, can be a lucrative venture, offering both a steady stream of income and the potential for long-term appreciation. However, one aspect that often raises questions among property owners is the obligation to pay capital gains taxes when selling a rental property. In this article, we’ll delve into the …

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Should I Hire a Property Management Company or Do It Myself?

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Managing rental properties can be a time-consuming and demanding task, requiring knowledge and expertise in various areas. Property owners often find themselves overwhelmed with responsibilities when renting out a property, from advertising and tenant screening to rent collection and property maintenance.  Hiring a property management company can provide a solution to these challenges, allowing property …

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