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6 Property Management Tax Mistakes: Are You Making Them?

Buildium

Advertising to influence government legislation, however, is never deductible. Insurance Insurance you buy for your business, such as business liability or property insurance. If you have a home office, you can deduct some of your homeowner’s insurance. This deduction is scheduled to end on Jan.

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Average Rent In Northern Virginia: Costs & Fees Explained

Bay Property Management Group

So, many people in cities like Arlington, Fairfax, and Alexandria work for federal agencies or government contractors. Then, around October , government agencies and contractors often start new projects since the federal fiscal year begins. Economic Conditions As you can imagine, the Washington, D.C.

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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. The W-9 form will give you their filing status and federal tax ID, so you can file your 1099-MISC forms accurately when the time comes.

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5 ways for high rise condominiums to save money in 2025

Condo Control

5 ways condominiums can save money Reduce administrative costs Hire companies that offer value Experiment with AI Improve energy efficiencies Consolidate subscriptions/services Depending on where you live, your community may also be struggling with insurance fees, legal requirements, or labor shortages.

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Bill 30 could make condo living easier in Alberta

Condo Control

Alberta has tabled legislation that aims to improve governance in condominium communities. Bill 30 , the Service Alberta Statutes Amendment Act, 2024, would impact three different Acts: Condominium Property Act Prompt Payment and Construction Lien Act (PPCLA) Public Works Act (PWA) Developers and contractors would also benefit from this Act.

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The Top 10 Mistakes Colorado Springs Property Owners Make (And How to Avoid Them)

Muldoon Associates

Ignoring Maintenance Issues There are so many mistakes that can be made with maintenance, from ignoring preventative services to hiring the wrong vendors and contractors. Fair housing, habitability standards, eviction procedures, and security deposit returns are all governed by state and federal laws. That starts with good insurance.

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Condo Frozen Pipes: Who Should Take Care Of It?

Mem Property Management

The first thing you must do is check your condo association s governing documents. If your governing documents dont include these stipulations, then its probably time toconsider amending them. Some associations have outdated governing documents which can include unenforceable rules. WHEN IS CONDO INSURANCE INVOLVED?

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