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Finding the Perfect Multifamily Property

American Apartment Owners Association

Operating costs can consist of property taxes, real estate agent fees, utilities, maintenance, property management fees, homeowners insurance and legal fees. Youll need to attract and retain quality tenants, establish rent collection processes, conduct regular maintenance and repairs and ensure compliance with local regulations.

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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. You’ll also need to budget for attorney fees.

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Top 10 property management tax deductions for 2025

Buildium

For example, you can deduct the rent and utilities you spend for an outside office or other workspace. Under IRS regulations, any personal property you buy for your business that costs less than $200 is deductible as materials and supplies. You can later switch to the actual expense method if you want.

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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. Legal and Professional Expenses You can deduct fees paid to attorneys, accountants, consultants, and other professionals for any work related to your business.

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New 2025 condo and HOA laws for U.S. states

Condo Control

The association may stop providing statements to an owner if collection activity begins by an attorney or collection agency that is not acting as the association’s managing agent. 2018 Florida Recording amendments to governing documents HOAs are required to record amendments to rules and regulations.

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1031 Exchange in Multifamily Real Estate

American Apartment Owners Association

To comply with IRS regulations, you must adhere to the following rules: 45-Day Identification Period: Within 45 days of selling your property, you must identify potential replacement properties. The QI handles the exchange process, holding the sale proceeds and ensuring compliance with IRS regulations.

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Understanding Fair Notice Periods: A Landlord's Guide to Smooth Evictions

Property Management Inc.

Tackling Court Filing Fees Court costs can range from minor filing fees to larger attorney expenses. Do You Need an Attorney? An attorney isn’t always required, but their expertise can help. Additional Resources for Landlords Several platforms offer eviction-specific guides or attorney directories tailored to landlords.