Be Informed.

The Montgomery County Board of Assessment Appeals explains the appeals process and the steps to residential property tax appeals. According to the Board of Assessments, appeals have to be filed by August first preceding the year in which the taxes are being appealed. If there is a change in assessment, an interim appeal can be filed within 40 days from the notice of the assessment change.  Appeals have to be either postmarked or hand-delivered on or before the deadline, and will not be accepted via fax.

The Department of Housing and Urban Development (HUD) states: "The Low-Income Housing Tax Credit (LIHTC) is the most important resource for creating affordable housing in the United States today." This program benefits not just to people looking for low income housing, but also developers. If you qualify for these credits, it can also be an important source of financial savings that makes a development significantly more affordable for you to construct.

Both landlords and renters need to know Pennsylvania landlord tenant law because these laws impose both rights and obligations. The laws mandate that landlords meet basic minimum standards in terms of providing a safe place for renters and in terms of providing renters with notice when they need to leave. Tenants are also required to fulfill certain obligations, including paying rent on time to landlords. 

Appealing property taxes can allow for significant savings, but it can be a difficult process. Residential property tax appeals are often successful; however, they are a success only for people who know what is required of them and who put together a strong case to show why the value of their home should be reduced.

A tenant may be evicted for failing to pay rent as required by the lease the tenant has entered into. A lease may contain a grace period after which rent is considered to be late. A landlord has to abide by the grace period and rules set forth in the lease for rent collection.  Tenants may also be evicted if they violate other terms of the lease, aside from requirements on rent.

For subdivision development and many other development projects, developers must submit comprehensive site plans to the Montgomery County Planning Commission.  Your site plan needs to provide sufficient detail to demonstrate that you have taken zoning and land use requirements into account. Depending upon the size and scope of the project, you may also need to demonstrate the environmental impact of any project you are undertaking.  There are fees associated with submitting a subdivision or land development plan for review, and applications may also need to be submitted to local municipal authorities in addition to the Planning Commission.

1031 exchanges get their name from the section of the tax code which provides a tax break. As the Internal Revenue Service explains, capital gains taxes are usually required on the profits when a business or investment property is sold. However, Internal Revenue Code section 1031 creates an exception. Under this exception, you can defer tax on the gain if you reinvest the proceeds from the sale in a similar property investment.

Tenants have legal rights when they rent property. If you are renting residential or commercial space, you need to know how the law protects you. It is also important to understand what your obligations are as a tenant so you don't find yourself facing eviction or other problems. Unfortunately, if you don't learn about Pennsylvania real estate laws or know how the laws and their lease you, mistakes can happen.

When you enter into a commercial lease as either a landlord or a tenant, the lease often lasts for a term of a year or more. There may be substantial amounts of money at stake. The terms of the lease can affect whether the building rental is profitable for you as a landlord and can affect whether or not the space actually works for your business interests as a renter.

Being a landlord can be rewarding and lucrative, as long as you do not make mistakes which end up costing you. Some of the common mistakes made by new landlords include not understanding anti-discrimination requirements, not conducting background checks before renting to tenants, failing to ensure a lease protects their interests, not understanding rules for eviction, and not understanding bankruptcy rules.

There are different types of environmental review requirements which are in place within the state of Pennsylvania. You need to know what the environmental review requirements are in your location and for your particular type of development project or business endeavor. The best way to understand the environmental review requirements applicable to you is to speak with a land use development attorney.

According to the Pennsylvania Attorney General, "a security deposit is money which actually belongs to the tenant, but is held by the landlord for protection against damages or unpaid rent."  Landlords are required to give back security deposits as long as a tenant has not caused undue damage to a property. Normal wear and tear on an apartment is not cause for keeping a security deposit, and landlords will need to return the money that is owed to a tenant if a tenant has not caused substantial damage to the property in question.

When buying land for commercial real estate development, it is your responsibility to do your due diligence to make sure that the land is going to be a viable place for your proposed development project. While the sellers of land must make certain disclosures to you, the doctrine of caveat emptor, or buyer beware, also applies in the field of commercial real estate. This means it is up to you to do the research that you need into all aspects of the land purchase so you can make wise investments.