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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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Run better HOA board meetings: Tips and tools for association managers

Buildium

Additionally, you should monitor compliance with governing documents and legal requirements, aligning all actions with the community’s standards and regulations. This position also involves preparing financial reports, managing contracts, and keeping all communication channels open and effective.

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How to Grow a Property Management Company: Proven Strategies for Success

BetterWho

Many successful property managers seek advice from a property manager consultant to help clarify their goals and uncover untapped opportunities. Consulting services can provide tailored strategies to align your business objectives with actionable steps.

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Successful rental property maintenance management: Best practices, challenges, and solutions

Buildium

Complying with Local, State, or Federal Laws: Property managers must navigate a complex web of regulations, including health and safety codes, to avoid legal liabilities and fines. Just look at real-life examples, such as the legal battles faced by property managers who fail to comply with safety regulations.

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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.

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AI Trends for Property Management in 2025

BetterWho

Challenges and Solutions in AI Adoption While AI offers exciting opportunities, there are challenges to consider: Data Privacy Concerns : Handling tenant and owner data responsibly is crucial to maintaining trust and compliance with regulations. Implement secure data management protocols to protect sensitive information.

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The FTC Lawsuit Against Invitation Homes: What It Means for Property Managers

BetterWho

Enhanced Regulatory Scrutiny While Invitation Homes settled for $48 million, property managers of any size could face lawsuits if they are not diligent in adhering to tenant rights. Stay proactive by regularly reviewing your practices to ensure they meet local and federal regulations.