Two questions: (1) A landlord responsibility and (2) the tax for

the capital gain for rentals.
I bought some rental properties for the sake of kids. In the past years, I had all kind of renters, good or bad, clean or sloppy, too stupid or too smart… I know there are lots of smart, hard working, and hardy people here have rental business. Does any one know the exact what the owner’s responsibility is? Do owners need to check the renters’ criminal history for the security reason? Do owners have to tell the renter the history of the past renters? We have 3 kids (one is 9 month) and full time jobs. LG also works overtime in the evening and weekends a lot. I thought it would be a good ideal to have real estate properties for the kids. Now, I feel the work is a little bit too much for us. How are you guys deal with it? Shall we sell one of our rentals now? Then, the next question came. How much do we need to pay for the capital gain for the rental properties? We have this rental for nearly 2 years. We bought at $146,000 and the recent sell for the same units are around $190,000 to $210,000. How many percent shall we pay tax for the capital gain?

I counted recently that we would be mortgage free if we did not have these extra properties. The interest rates for all of our loans are between 5.5 and 6.5. Do you think we should keep these properties?

Thanks in advance for all kind of suggestions!

所有跟帖： 

• 回複：Two questions: (1) A landlord responsibility and (2) the t -hegen- ♂ (1347 bytes) () 05/17/2006 postreply 08:04:11

• 回複：Thanks for your advice. It is very useful. -Mom3- ♀ (37 bytes) () 05/17/2006 postreply 08:15:26

• 回複：Two questions: (1) A landlord responsibility and (2) the t -autumnmoon- ♀ (2001 bytes) () 05/17/2006 postreply 23:47:04

• 回複：Thanks for your help. -Mom3- ♀ (128 bytes) () 05/22/2006 postreply 09:51:14