Bay Property Management Group

APRIL 14, 2025

In this guide, well break down why service contracts matter, the types youll likely come across, what they usually include, and the slip-ups landlords often make when managing them. Main Takeaways What are service contracts in real estate? But why do you need service contracts in the first place? Lets get into it.

Real Estate 130

Real Estate Maintenance Property Manager Property Management 130

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. With so much on the horizon for property managers, property management tax reporting, may be the last thing on their minds.

Property Management 227

Property Management Property Manager Management Electronics 227

Buildium

DECEMBER 17, 2024

Property managers are engaged in a service business, which means theyre entitled to the full array of business-related tax deductions. 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.

Property Management 246

Property Management Property Manager Management Property 246

Authority Property Management

OCTOBER 3, 2016

EMPLOYEES OR CONTRACTORS – whenever you hire someone to do services on your rental property, whether it is managing the property, fixing a repair, or landscaping services, you are able to deduct those from your taxes. This can include insurance for fires, flooding, or theft.

Landlord 52

Landlord Insurance Rental Property Attorney 52

Real Property Management Choice

NOVEMBER 21, 2022

Sometimes you postpone comparing all of the services if your renters are paying their total upfront, and you don’t mind paying a top law company when things go wrong. Other times, it can call for hiring attorneys or even going to court. Visit our official website to learn more about our services.

Property Management 40

Property Management Property Manager Management Property 40

Esquire Property Management Group

DECEMBER 11, 2023

Legal Defense Costs : Typically, CGL policies include coverage for legal defense costs, encompassing attorney fees, court expenses, and settlements or judgments. All landlords and commercial property managers should require tenants to have various forms of insurance depending on the type of business operations occupying the relevant space.

Insurance 52

Insurance Commercial Property Management Tenant Commercial Property 52