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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

Legal and Professional Expenses You can deduct fees paid to attorneys, accountants, consultants, and other professionals for any work related to your business. Every property management tax mistake is, at best, a missed opportunity to save money and, at worst, a potential compliance issue.

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Understanding HOA finances: A practical guide for association managers

Buildium

You’ll also need to budget for attorney fees. Review how many hours your association’s attorney typically bills each month so you can plan for those expenses accordingly. It’s also a good idea to contract out to third-party services, such as an attorney, when things escalate beyond reminders and fees.

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Building Your Colorado Springs Dream Team: Essential Professionals for Investors

Muldoon Associates

Additionally, they ensure compliance with local landlord-tenant laws, minimizing your legal risks. Professional Partners: Real Estate Attorneys and Accountants Legal issues can quickly derail a real estate transaction. If you have to evict a tenant or you need to have a lease reviewed, your attorney can help.

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US Short-Term Rental Tax FAQs

Hospitable

US Short-Term Rental Tax FAQs By The Hospitable Team Industry Insights In this episode of the Hospitable Hosts podcast, our special guest is Jeff Cottle , a Senior Attorney at Anderson Business Advisors. In this e-book, we cover: Decisions to make and things to check before you start. And you may even have a parent company underneath.

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Are Townhomes a Good Investment for Airbnb Hosts?

Host Tools

More space than condos Unlike studio apartments or condos, townhomes often provide more square footage, multiple bedrooms, and floors, making them ideal for group or family bookings. If you’re already invested, Hire an attorney or local consultant who specializes in rental compliance.

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Problems with Self-Managing Investment Properties

Florida Property Management

Attending landlord-tenant workshops, reading books, and networking with experienced investors can help bridge the knowledge gap. Legal and Compliance Risks Navigating the legal landscape of property management can be tricky. Being proactive and addressing issues promptly can help prevent more significant problems down the road.

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How to Buy Multiple Rental Properties at Once as a Short-Term Rental Host

Host Tools

Rental Regulations: Some locations may require permits, licenses, or compliance with specific safety standards to operate as short-term rentals. Working with a local attorney can help ensure youre on the right side of the law and avoid costly mistakes. Check proximity to tourist attractions or business hubs.