[SteveFromNY]

Originally Posted by KayakerNC

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?
Thanks

The really short version: Everything is tax deductible.
All of the expenses: Property Management Fees, landscaping, water, sewer, cleaning, amenity fees, mortgage interest, exterminator, telephone, cable, gas, electric....did I leave anything out?
Furniture also, but you need to depreciate it over a long period (10 years as I recall).
One trip a year to inspect your property is also deductible.
Of course, to offset that you need to declare the rental income. I was effectively operating a negative cash flow business while I had the house in the rental program.
Also, since it is a business, it isn't subject to the personal limitations on deductions.
I'd certainly recommend you speaking to your accountant to get an idea of what it means to you.
Hope that helps!

[barb1191]

When we considered renting our patio villa in Polo Ridge, we (my daughter and I handled the rental business) were told by TV rental office that they were not taking on any rental properties north of Rte 466 any longer.

Now, one can understand why, if in fact that is really the case. If the developer plans to provide their own rental properties, then they draw the line at not doing business with anyone other than the peeps living in the newer sections on the South side to draw the potential renters to the new buildings being built for sale on the South side.

We decided not to rent. Couldn't stand the horrible New England winter, so we're back in our "paradise" here in TV for the winter.