Okoniq Journal
Property tips, taxes & HOA guides
Plain-language guides for homeowners, landlords, and HOA boards — written to help you stay organized and keep more of your money at tax time.
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Getting Started
New to managing property? Start here.
Taxes & Accounting
Deductions, basis, Schedule E, and staying audit-ready.
Renting & Tenants
Leases, rent, screening, and tenant relationships.
Maintenance & Repairs
Upkeep, vendors, and keeping a home in shape.
Mortgage & Money
Financing, refinancing, insurance, and cash flow.
Buying & Selling
Valuation, prepping to sell, and the closing process.
HOA & Community
Boards, reserves, meetings, and living in an HOA.
Latest articles
Flood Insurance Basics for Homeowners
Standard homeowners insurance excludes flood damage. FEMA's National Flood Insurance Program (NFIP) covers most residential floods, capping at $250K structure + $100K contents. Private flood is a growing alternative.
First-Time Homebuyer Checklist
The first-time buyer path has 8 stages, each with critical decisions. Skipping steps or getting them out of order is the difference between a smooth close and a stressful mess.
The Financing Contingency
The financing contingency lets you back out if your mortgage falls through. Waiving it means you owe seller earnest money if financing fails — even for reasons outside your control.
FHA vs Conventional for First-Time Buyers
FHA loans allow 3.5% down with 580 credit score. Conventional loans typically need 5%+ down and 620+ credit. FHA usually costs more long-term thanks to permanent mortgage insurance.
Fair Housing Act — What Landlords Cannot Ask
The Fair Housing Act prohibits questions about race, religion, familial status, disability, and more. Certain "innocent" questions have gotten landlords into six-figure lawsuits.
How to Write an Eviction Notice
An eviction notice must state the reason, the required cure period, and consequences of non-compliance — using the wrong form or wrong wording restarts the entire process.
Quarterly Estimated Tax Payments for Rental Income
If your rental produces taxable profit and you underpay federal tax by more than $1,000, the IRS charges an underpayment penalty — quarterly estimated payments avoid it.
Escrow Accounts Explained
An escrow account collects your property tax and insurance premiums monthly with your mortgage payment, then pays them for you when due. Simplifies budgeting but leaves you tied to servicer's timing.
Emergency vs Non-Emergency Repairs
Emergency repairs (no heat in winter, flooding, gas leak) require same-day response. Non-emergency repairs typically get 3-7 days. Getting the category wrong costs money either way.
Earthquake Insurance — Is It Worth It?
Earthquake insurance costs $800-$3,500/year with 10-25% deductibles. Worth it in high-risk zones (California, Pacific Northwest, New Madrid). Probably not elsewhere.
Dual Agency — Risks and Red Flags
Dual agency lets one agent represent both buyer and seller in the same transaction. Reduces conflict but creates conflict of interest — most professionals recommend against it unless you understand what you're giving up.
How Much Down Payment Do You Really Need?
20% down avoids PMI but locks up cash. Conventional loans allow as little as 3% down; FHA is 3.5%. Right amount depends on your rate outlook, cash reserves, and hold plan.
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