Buildium

DECEMBER 30, 2024

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.

Property Manager 245

Property Manager Property Management Management Property 245

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. The W-9 form will give you their filing status and federal tax ID, so you can file your 1099-MISC forms accurately when the time comes.

Property Management 227

Property Management Property Manager Management Property Management Software 227

Buildium

DECEMBER 17, 2024

Deductions on Legal and Professional Services You can deduct fees that you pay to attorneys, accountants, consultants, and other professionals if the fees are paid for work related to your business. When you hire an independent contractor to perform services for your business, the cost is deductible, as well.

Property Manager 246

Property Manager Property Management Management Property 246

Beach Front Property Management

JANUARY 15, 2025

Reach out to a contractor for an additional estimate to ensure accuracy. If the policy wording is unclear, consult a local attorney specializing in insurance law. Homeowners should review their liability insurance coverage with an attorney to ensure they are protected against such claims.

Insurance 147

Insurance Property Attorney Transportation 147

SparkRental

NOVEMBER 28, 2024

The Big Picture On How to Handle a Bad Contractor: Keep detailed records of all agreements, payments, communications, and any issues with the contractor’s work. Before escalating, address the problems directly with the contractor, clearly outlining the issues and your expectations for corrections.

Contractors 52

Contractors License Real Estate Insurance 52

Real Property Management Evertrust

OCTOBER 7, 2024

Pro Tip: Build a relationship with reliable contractors early on, so you’re not scrambling to find someone when repairs are needed. Consult a real estate attorney if you’re unsure of the legal requirements in your area. Preventative maintenance can also save you money in the long run.

Landlord 130

Landlord Lease Agreement Tenant Lease 130

Muldoon Associates

NOVEMBER 7, 2024

Ignoring Maintenance Issues There are so many mistakes that can be made with maintenance, from ignoring preventative services to hiring the wrong vendors and contractors. Have an attorney or a Colorado Springs property manager review your lease to ensure it complies with local laws. Consulting Experts.

Lease Agreement 98

Lease Agreement Property Property Management Property Manager 98