This week we will be discussing income and assets and determining tenant rent. We will talk about all that earned and unearned income that must be included or excluded from calculating the tenant’s annual income. And while we will go over the more common income that tenants receive and Owner/Agents experience, there are other sources of income that will not be touched on.
So, what odd or not so common income may you come across and wonder if you should include it or not in your calculations? Such things could be:
- Resident Stipends
- Income from Training Programs
- Earned Income Tax Credit refund payments
If the property has a resident that receives a stipend of less than $200 a month for minor duties around the property, such as distributing flyers, being a key holder, or perhaps even performing light cleaning duties, the stipend will...
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