Housing and Real Estate

Revenues from the lease or the creation or transfer of rights or powers of use or enjoyment of rustic and urban property or real rights that fall on these properties, are considered income from real estate. They have this account:

- The income from the lease of real property, unless the lease is done as an economic activity.
- The amounts received by the homeowner when it is under a sublease. The amounts received by the subtenant is considered income from capital.
- The amounts received by the rest of the property sold (furniture and fixtures, primarily) with rental housing.
- The net yield of the lease is the difference between gross income and deductible expenses, which are computed excluding VAT or IGIC. This amount can never be negative, so that will never be able to deduct expenses exceed the gross income. (more…)

With the housing market in crisis, many people are looking to rent instead of own. For seasoned renters it may be simple enough to find a new place to rent – but if you’re renting for the first time, or if you’ve just been out of the game for a while, then this is your guide to finding a new place to rent!

1. Like any large purchase, your first step in looking for a new rental should be to assess your budget. How much can you afford in rent? And how much money will that leave you to put into savings. You ESPECIALLY need to watch out for the little costs other than rent.

Will there be a condo fee? Will you be expected to pay for water and sewage treatment? Garbage removal? Do you want gas heat, or the more expensive electric? Can you afford central air? Decide early on exactly how much you can afford for ALL TOTAL COSTS.

2. Decide what you want out of a home. Do you want to rent a stand-alone house? A rental community? A high-rise apartment unit? Do you want to rent from private landlords, or from a company in an apartment complex? There are benefits and drawbacks to each; your best bet is to do a little research.

Talk to friends and family members who have rented in the past and find out what their experience was. This is also the time to decide whether you want a roommate or not – but finding one of those is another article entirely. Anyway, decide what kind of environment you’re looking for, and how much space you need within that environment. (more…)