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Understanding a Rent Increase Notice and the Importance of Compliance

American Apartment Owners Association

A rent increase is a consistent responsibility for every landlord, but there are reasons beyond rent regulations and compliance to understand the process and reasons behind it. Keep reading and explore our guide to rent increase notices, compliance and more. Ready to get started? What causes rent to increase?

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BOI Reporting: Corporate Transparency Act Update

Yardi Breeze

The bottom line : protect yourself from costly penalties by ensuring compliance with the Corporate Transparency Act and FinCENs BOI reporting requirements. For businesses formed before January 1, 2024, compliance will ensure you avoid fines of $591 per violation per day (subject to inflation). or any of its affiliates.

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Minimizing Investment Risks in Multifamily Real Estate

American Apartment Owners Association

Implementproactive maintenancestrategies and legal compliance measures to control costs and legal liabilities. Ensure legal compliance to mitigate risks. Another important element of due diligence is evaluating theproperty’s maintenance and legal compliance. Diversify your portfolio strategically to spread risks.

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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

Before doing anything tax- or accounting-related, consult a certified accountant. And, of course, consult a CPA to determine which deductions your business is eligible for. Legal and Professional Expenses You can deduct fees paid to attorneys, accountants, consultants, and other professionals for any work related to your business.

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Understanding HOA finances: A practical guide for association managers

Buildium

You’ll also need to budget for attorney fees. Whether it’s consulting with outside counsel on things like emotional support animal (ESA) applications, handling delinquencies, or managing collections, legal costs can add up. Since collections are heavily regulated, familiarize yourself with the rules. When they do, try not to panic.

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A Fair Housing Challenge: The Use of Marijuana

American Apartment Owners Association

Furthermore, consulting with a fair housing attorney is crucial to establishing a robust, consistent verification process that meets legal standards. This approach ensures compliance and maintains a uniform policy across all resident requests, safeguarding the property management against potential legal challenges.

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BOI Reporting: Corporate Transparency Act Update

Yardi Breeze

The bottom line : Protect yourself from costly penalties by ensuring compliance with the Corporate Transparency Act and FinCENs BOI reporting requirements. For businesses formed before January 1, 2024, compliance will ensure you avoid fines. Non-compliance may lead to steep penalties, including fines and criminal liability.