Is there a way to run a small business out of a residential condo legally?
I can’t afford commercial property and found a residential condo locally so my clients won’t have to travel. I have a small clientele that I see on a regular basis, but only 2-4 a day. So I didn’t know if buying this condo could be an option. I have had to move my business a few times and when I move too far I lose business, the condo is two blocks from where I rent now. I don’t want to start over again, but need to get out of the building I currently work in. Any ideas?
Related posts:
- Should I buy a foreclosed property so that I can have collateral to get a small business loan? My score is a 604, I’m 21. I want to start a business but I dont have any thing to put up as collateral. I thought about buying a house...
- Is a condo hotel in Orlando, Florida a good investment? I really want to get onto the property ladder and I found a condo hotel that looks very promising. This actual Condo hotel that I am looking at is in...
- This year i plan to start a small business as well as a rental property, I have a few tax questions? concerning my rental. I wanted to charge $750.00 monthly minus certain utilities included amounting to $150.00. So I have a proffit of $600.00 each month. Can I offset this proffit...
- What are the tax deductible things if I give my condo for rent? If I rent a small apartment for myself while giving my condo for rent: Is my own rent payment completely tax deductible? how about property tax? how about condo fee?...
- Would an 8-15 unit apartment complex be categorized as being a commercial or residential real estate property? I would like to look into purchasing a small apartment complex (8-15 units) and live in one of the units while the remaining units are offered for rent. Would the...
Tags: Clientele, Small Business, Travel
rent property | , 7 Jan 10
By Dave, January 9, 2010 @ 7:56 pm
You can use your own residence as a place of business (a “home office”), but in most cases you can’t rent out a residential property exclusively for commercial purposes to use as an office space. There are exceptions if you use the space for residential purposes – i.e. as a place for people to live.
By ascendent2, January 10, 2010 @ 12:22 am
Yes, you can run business out of your home. As long as the size you put your office and or storage of business materials is a certain sq. footage. Check with your accountant on size. Also it must be stated commercial to rent a condo just for business. Best to have it where you live. Buy or rent a place big enough for you and your business.