renting property counts as a business?

[veryh2o]

Hi,

possible for me to apply business credit card since i rented out my property?  Does renting out my property counts as a business?

[llecs]

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@veryh2o wrote:

Hi,

possible for me to apply business credit card since i rented out my property?  Does renting out my property counts as a business?

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IMO, no, because the asset (the property) is held in your name. You would claim the rental income on 1040 Sch. E, if I recall correctly. Any utilities would have to be in your business name as well as the property if you covered them and wanted to claim is on your business taxes. It is very easy to start a business and open biz credit, though.

[Anonymous]

If you own the property and are renting it, you are making income and are a business. There are several differnet ways you can be structured, but I think trying to go into "business credit" unless you are talking real money on the rent is probably not worth it.

My landlord owns a multi unit Apartment, about 20 units, he lives in one. All the checks get made out to him, not an LLC or anything.