Generally, prospects of permanently increased cash rents lead to increases in farmland prices. Since 2006, average cash rents in Illinois increased from $132 per acre in 2006 to $234 per acre in 2014, representing an increase of 77%.
If you're a landlord and claim rental income on your home, your homeowners' insurance on the portion of the property used for rental becomes tax-deductible. When you own several properties and those properties are used only for rental income, then all of the homeowners' insurance is tax-deductible. Consult your tax preparer for more details on how to deduct homeowners' insurance.
If your deductible is higher, that means you pay more of a claim and (more important) your insurer pays less. Insurance companies love that. So the higher your deductible, the more money you save on your premiums. The average cost of homeownerâs insurance is built on a deductible of $500.If you think the odds of having a claim are very low, raise your deductible to $1,000 or more. You might save as much as 25 percent.nsurance companies love that. So the higher your deductible, the more money you save on your premiums. The average cost of homeownerâs insurance is built on a deductible of $500. If you think the odds of having a claim are very low, raise your deductible to $1,000 or more.