Authority Property Management
FEBRUARY 1, 2025
Signed into law in September 2024, California Assembly Bill 2622 (AB 2622) introduces updates to the Contractors State License Law that directly benefit property owners and renters. AB 2622 raises the dollar threshold for contracting work that does not require a licensed contractor.
Buildium
NOVEMBER 5, 2024
Property managers are required to request a W-9 from and issue a 1099-MISC form to each owner, attorney, and contractor they work with, so long as payments meet or exceed the $600 threshold. For 2024, the form looks like this: What Is a 1099-NEC form? The IRS makes (typically small) adjustments to the 1099-MISC form each year.
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Bay Property Management Group
FEBRUARY 26, 2025
After all, hiring contractors is deductible, so shouldnt your own hard work count too? However, there are other ways you can save on your rental expenses, like contractor and material costs. The IRS only allows deductions for real expenseslike paying contractors, buying materials, or hiring property managers.
Buildium
DECEMBER 17, 2024
For 2024, this was as much as $20,400 (the actual amount depends on the cost of the car and the amount of business use). The standard mileage rate for 2024 is 67 cents per mile. When you hire an independent contractor to perform services for your business, the cost is deductible, as well.
Rental Choice
MARCH 5, 2024
The 2024 America’s Rental Housing Report has several notable trends and key takeaways. Yes, many new apartments may become available according to the 2024 rental market predictions. Softening Rental Markets According to the report, apartment growth has stalled. The rental market rapidly increased during 2021 and 2022.
Buildium
OCTOBER 28, 2024
In 2024, tenant quality emerged as the #1 concern for property management companies. For 77% of PMCs, vendor and contractor labor costs have gone up over the last year, exacerbated by the rising cost of materials and supplies. This helps explain why maintenance was property managers’ second-greatest challenge in 2024.
Buildium
DECEMBER 30, 2024
For 2024, the standard mileage rate is 67 cents per mile. Employees and Contractors If you hire one or more employees, your payroll, as well as costs such as health insurance and other benefits are fully deductible. When you hire an independent contractor, that cost is deductible, too.
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