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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

If youre new to property management taxes, there could be some big mistakes youre making that could cost you or your owners money. Check out these six property management tax mistakes to see if youre guilty of making themand how to remedy them moving forward. If you rent equipment or vehicles, the rent you pay is fully deductible.

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New 2025 condo and HOA laws for U.S. states

Condo Control

Owners can add an ADU and sell it as a second living space An HOA owner may add an Accessory Dwelling Unit to their property, and may be able to sell it to someone else if certain requirements are met. of the Illinois Condominium Property Act (unit resales) from 30 to 10 business days. The policy must be posted on the POA’s website.

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Justice Department Sues 6 Large Landlords

Rental Housing Journal

Acting Assistant Attorney General Doha Mekki of the Justice Departments Antitrust Division said in the release, While Americans across the country struggled to afford housing, the landlords named in the lawsuit shared sensitive information about rental prices and used algorithms to coordinate to keep the price of rent high. billion in 2023.

Landlord 105
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Scam Ahead

American Apartment Owners Association

Fundraising new debt was the company’s business,” an attorney representing some investors told a judge, the Seattle Times reported. Ponzi operators rope in even seasoned investors with promises of real property and guaranteed returns before cash vanishes, leaving victims’ finances devastated and diminishing trust in the industry.

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New Florida Housing Bills

Florida Property Management

APPROPRIATION: $711,000,000 Effective Date: Except as otherwise expressly provided in this act and except for this section, which shall take effect upon becoming a law, this act shall take effect July 1, 2023 Last Action: 3/30/2023 - Chapter No.

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How DC Multi-family Real Estate Investors Benefit from Hiring Property Management Experts in 2023

Nest DC

Investing in multi-family properties in the District can be a lucrative business venture. However, managing these properties takes a fair amount of time and energy, especially if you start to build a portfolio across multiple locations in the city. Fun fact: Nest averages <30 days on the market across our properties!

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Reserve study requirements by state

Condo Control

The association must compute the estimated replacement reserves by a formula that is based on the estimated life and the estimated capital expenditure or major maintenance required for each part of the property. Updated reserve studies are to be completed at least every five years thereafter.