Charleston Rental Owners Take Advantage of Tax Benefits

As a homeowner in Charleston, you are pleasantly reminded each April 15^th that the interest portion of your mortgage payments is 100% tax deductible. When you own a Charleston, SC rental property, though, the tax implications are considerably different. You need to report rental payments you receive from your tenants as income—but you’ll also be able to write off some related expenses, as well.

National Rent Increases Reward Real Estate Investors

Last year comprised a decision point for many a local investor who had been holding back from the Charleston real estate market. There’d been a number of good reasons for them to hesitate.

First, there were memories of the pervasive price drops that followed the global financial meltdown. Not exactly what a prudent investor was looking for—even given the real estate’s traditionally invincible long-term record. Then there were fears that the economy’s slow reverse out of the Great Recession (a term that was in itself enough to freeze many a checkbook!) would hamper apartment and single family unit rental increases. A landlord could get squeezed by inflation…if there were any inflation…who could know for sure?

Investment Idea with Legs: a Charleston Area Rental Property

When any investor first begins to mull over the idea of acquiring a rental property in Charleston, SC, it’s usually in competition with an array of other investment types—each with its inherent plusses and minuses. Some of them are new ideas (new technology company stocks; new forms of commercial exchange)—but real estate is definitely not one of those. It may not be innovative, but being a landlord has always been one of the leading sources of passive income.