According to the IRS, rental income is defined as any income you receive for the use or occupation of any property.
Importance of Rental Income
Rental Income is the most important thing to any property owner. Landlords probably would not own properties if no profits were involved. If you own a single family home or an apartment complex with multiple units, your main focus should be maximizing your potential rental revenue.
Rental Income Blog
Below you will find ways to increase your rental revenue, as well as tips and tricks of the trade to maximize your profits. Property Owners and Managers alike can benefit from the content below!
Keep Track of All Expenses
There are many things to take into account with your income from rentals. The most important is to make sure you keep track of all expenses and payments received. Your expenses of renting property can be deducted from your gross rental income at the end of the year which can save a ton on taxes.