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Old 01-03-2009, 10:14 PM
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KayakerNC KayakerNC is offline
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Quote:
Originally Posted by SteveFromNY View Post
**snip**I'd advise anyone thinking of renting to speak with TV property management to understand their take on the current rental market. They will discuss how many days you can expect to get income, and what the terms of their contracts are. They did require you to make the house available during the high season (Jan, Feb & Mar). I'd seriously doubt there is a large rental opportunity in the off season, and if I recall correctly, if you spend 3 months in the house you will be unable to take advantage of the tax breaks that come with having a rental property (I think there is a limit to your staying in the property of 2 weeks per year)
I've asked Property Management to send me the information package on the rental program. Could you give us an overview (the short down-and-dirty version) of the "Tax Breaks" that would come to a rental property owner?
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KayakerNC
Mt Clemens, MI
Newport, NC
Suffering from TV envy