When needing your properties to be sold, finding the right real estate agent is very important. This will determine the success of the over-all transaction. You sure want to make the most out of the deal, right?
Real estate taxes can be a major strain on households all across the country. Although there are no states without property tax at all, you can get pretty close.
Living in a state that only takes a small percentage of your home’s value as taxes can save you money on a yearly basis.
So what states should you consider if you’re looking to save some money on your property taxes? Keep reading to find out.
If you’re looking for states without property tax, you can’t do any better than Hawaii. Their tax rate is 0.28% of the average home value. Since the average home in Hawaii costs $500,000 that makes the annual taxes about $1,389.
However, Hawaii also has the second-highest income tax in the nation. This gives it a relatively high overall tax burden. This leads to high prices on consumer goods and a harsh environment for new businesses.
Alabama’s property tax sits at 0.43% of the average home value. In Alabama, the median home value is only $122,700. That means that their property taxes come out to just $532 a year.
Alabama is truly a state that makes due with little taxation. They back up their low property taxes with a sales tax that is two percent less than the national average and a personal income tax that varies between 2 and 5%.
At 0.51%, Louisiana’s property taxes are the third-lowest in the nation. The median home value is $140,300 and property taxes annually on that home come out to just $714.
Louisiana also currently has programs in place offering tax breaks to landowners who are completing renovations on properties that have fallen into disrepair after not being maintained annually.
Their income tax is between 2 and 6% and many of the programs in the state are subsidized by the federal government. This gives Louisiana the opportunity to offer a lower tax burden overall.
Delaware’s property tax rate is only .04% higher than Louisiana, sitting at 0.55% of the average home value. In Delaware, the median sale price for a house is $226,200 which means the annual property taxes would be about $1,240.
Unfortunately, Delaware is currently facing budget constraints. They plan on raising property taxes as a way to supply new revenue to the state. Homes in Delaware are also subject to county, school district, and vocational school district taxes.
Washington D.C. has a property tax of 0.57% of the average home value. The median home sells for $470,500 and the property taxes on that home would be $2,693.
Federal taxes in D.C. more than make up for this low property tax rate. Their tax rate ends up being one of the highest in the nation once everything is taken into account.
Other States Without Property Tax
Trying to find states without property tax is like looking for a unicorn. But by looking for the one with the lowest percentage of total home value, you can save a lot of money annually.
But no matter how low the property tax, you still need to take into consideration the other taxes that will need to be paid if you live in that state.
Tenant screening protects your property and your investment, and it all starts with a simple application.
An application can tell you everything you need to know about a potential tenant. You can use your application to learn whether the tenant will be able to pay rent and utilities, if they have a steady job, or what kind of family they have (with or without pets).
If you want to run a background or credit check on a tenant, you can let them know what is expected in your application. But make sure that information is easy to find and understand. The tenant should mark or sign their permission for you to carry about these checks.
What Should I Include in My Renting Application?
You should make your application as detailed as you need to find out if a prospective tenant is going to be a good fit. Don’t worry about making it too long. If a tenant is serious about renting, they’ll take the time to fill out the entire application.
That said, here are some of the main questions you should include:
Employers, current and previous: This lets you know if the tenant has a secure job or if they have changed jobs frequently. They should provide contact information so you can call their employer if you need to.
Level of Income: You need to know they can afford rent and other living expenses. You should also ask for any other financial information, like bank accounts and credit cards, that will help you determine their financial situation.
Previous Landlords: Any information about where they rented previously, how much they paid for rent, and reasons for leaving should be included. Again, get the contact information of past landlords so you can give them a call.
Occupants: You should ask how many people will be living there (adults and children) and whether or not they have any pets.
Relevant Personal Information: This is things like full, legal name, phone numbers, email addresses, etc.
Where Do I get an Application?
You can usually find sample applications at your local real estate association, but you can also make one yourself.
What to Do Next
Once you have all that information, spend some time reading it and following up.
Call Past Landlords
Ask questions about whether the tenant was able to pay the rent consistently, if they have any current debt with the landlord, or if the landlord would rent to them again.
Do a Credit Check
This will show you a tenants credit history for the last several years. You can find out if the tenant has maxed out cards, looming debt, or carried loans that will make them struggle to pay rent.
Do a Background Check
You don’t want to risk putting someone who could be dangerous in with your other tenants. It’s not safe for them or you. You’ll probably want to avoid people with a criminal record or people who have been sued for things like unpaid rent in the past.
Talk to Employer
The employer can tell you if the tenant has a stable job and how much they currently make.
Conduct an Interview
Interviewing possible tenants will let you get a sense of their personality. You can also find out more about their lifestyle and whether or not you think they’ll be a good fit for you and your other tenants.
Using the internet as a way to get our various needs has been growing very common nowadays. When it comes to real estate property sector, this is also not new. Through the website of efindagent.com you will be able to find the agent that will be most suitable based on your needs.