landlord

Landlord 1099 relief gets a step closer

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CNN reports that the Senate today passed legislation known as the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011 (that’s a mouth-full)  to reform the burdensome changes implemented in the Small Business Jobs Act of 2010 (aka SBJA) and the 2010 Patient Protection and Affordable Care Act. The law now … Read more

Landlord responsibility for carbon monoxide

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The Toledo Blade reports that earlier this week, an Ohio landlord was indicted on charges of reckless homicide in the carbon monoxide deaths of four tenants in the landlord’s rental unit.  Allegedly the landlord supplied the tenants with a faulty space heater because the rental unit did not have an operating furnace.  The rental unit also supposedly lacked carbon monoxide detectors.  Unfortunately, stories like this are all too common.  In October, 2010, a New York landlord was sentenced to criminal charges in connection with the carbon monoxide deaths of three tenants resulting from the installation of a gas-powered generator in a rental unit.  In many cases, landlords might be criminally or civilly responsible for carbon monoxide related injuries.

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New 1099-MISC Reporting Requirements and Possible Relief

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The Small Business Jobs Act of 2010 (aka SBJA) enacted by President Obama in September, 2010 and the 2010 Patient Protection and Affordable Care Act (health care reform aka PPACA) both contain new 1099 reporting requirements that affect landlords. These two laws expanded IRS Form 1099-MISC reporting requirements – the SBJA dealing with landlords and services / service providers and the PPACA dealing with landlords and goods.

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What about the Landlord’s Agent?

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As I mentioned a few weeks back, the rental world is getting to be “cluttered” with first time landlords.  These landlords are born onto the scene, usually, after their real estate sits unsold on the market for six or ten months.  Eventually, the property owner decides to enter the world of landlording.

Most of these first time landlords arrive at the decision to become a leasing mogul at the suggestion of their real estate agent.  It goes something like this:

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