Wanted to crowdsource some common deductions for SFH long term rentals (one year leases).

What are deductions you didn’t know about when you first started, that wish you knew of?

How have you been using democratization to offset rental income?

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Do you mean using depreciation to offset rental income?

Deductions for long term rentals are pretty straight forward. Mortgage interest, taxes, insurance, HOA fees, repairs, utilities (I pay for exterminator services at some of my rentals), etc… if you have vacancy, then cleaning / repairs / marketing fees can all be deducted.

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Following same situation

I deduct expenses for the car that I own so I can get to the property and take care of it

When I bought my first rental I bought a pickup truck so that I could buy renovation materials for DIY. I kept it because I did all maintenance myself. Came in handy for all kinds of stuff taking care of the property. Buying appliances, hauling away yard debris, property cleanouts, carrying a full complement of tools, etc.

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