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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

For example, you can deduct the rent and utilities you spend for an office or other workspace outside of your home. You have to keep your money separate from your owners, and youll need a trust account to handle tenants security deposits, all of which is regulated by the state in which you operate.

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Property Management Software: Managing Vacation Rentals

Avantio

Is investing in property management software the key to success in a competitive industry? This question resonates with property managers worldwide looking for efficient ways to streamline operations, maximize revenue, and enhance guest satisfaction. What Is Property Management Software?

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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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Marketing an HOA management company: What to focus on plus 8 strategies to keep and win clients

Buildium

As the main, reliable source of income to finance its operating and capital expendituresareas that have been under a lot of pressure recentlyboards see securing this funding as priority number one for effective management. However, on its own, pulling all the data and putting the reports together can take hours of the community managers time.

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Understanding HOA finances: A practical guide for association managers

Buildium

Utilities and Services Any utilities that aren’t billed directly to individual members will need to be accounted for in the budget. However, if your association includes utility costs in the membership dues, you’ll need to consider the usage rates for the entire community.

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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.

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Making Money in Multifamily: Tips and Tricks for Smart Investors

American Apartment Owners Association

LEARN MORE Leveraging Technology In today’s digital age, technology can streamline property management make sure to hire a PM that uses Tech to your advantage: Property Management Software: Use software to keep track of finances, lease agreements, and maintenance requests efficiently.