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1099 forms for property management: Everything you need to know (2024 update)

Buildium

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. Luckily, you’ve got the knowledge and tools to make filing 1099 forms for property management a breeze.

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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. This is not an exhaustive list, but here are some of the more basic deductions property managers can take. And, of course, consult a CPA to determine which deductions your business is eligible for. Tax time isnt a once-a-year thing.

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Understanding HOA finances: A practical guide for association managers

Buildium

Finances are the backbone of any association, and managing them well is a large part of protecting a community’s longevity. From there, your insurance agent can walk you through whether your current coverage is adequate for the property and what the premiums will look like for the upcoming year. When they do, try not to panic.

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How to get land zoned for multifamily

MRI Software

If your property isnt currently zoned for multifamily use, youll need to submit a rezoning request and justify how the change aligns with community goals. Seeking guidance from a zoning consultant or legal expert can simplify the process and increase your chances of success. How do you demonstrate community benefit?

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Master lease agreements in multifamily real estate: Best practices and insights

MRI Software

Verify property titles, ensure zoning compliance, and address safety regulations to avoid legal or operational issues. Finalize the agreement by consulting with a real estate attorney to include legal safeguards and secure a reliable, long-term arrangement. Performing due diligence is a critical step in the process.

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Investor’s guide to multifamily real estate syndication

MRI Software

We’ll also cover the risks, how to get started, and how real estate property management software could help you. It’s also important to understand any associated fees, such as acquisition and asset management fees, that could impact your returns. What is syndication in multifamily real estate?

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The eviction process for multifamily properties

MRI Software

Multifamily property management software can be a valuable tool when you need to evict multifamily tenant. This software helps you maintain meticulous records of lease agreements, rent payment history, and all communication with tenants. The process begins with filing an eviction lawsuit in the appropriate court.