Authority Property Management
FEBRUARY 1, 2025
Signed into law in September 2024, California Assembly Bill 2622 (AB 2622) introduces updates to the Contractors State License Law that directly benefit property owners and renters. AB 2622 raises the dollar threshold for contracting work that does not require a licensed contractor. Benefits of AB 2622 for Landlords and Homeowners 1.
Buildium
FEBRUARY 10, 2025
Vendor and Contractor Coordination Establish a network of reliable vendors and contractors. Keeping detailed records of the issue, actions taken, and communications can be vital for insurance claims and legal compliance. For instance, photographing water damage and logging repair efforts can support your insurance claims.
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Bay Property Management Group
FEBRUARY 26, 2025
After all, hiring contractors is deductible, so shouldnt your own hard work count too? However, there are other ways you can save on your rental expenses, like contractor and material costs. The IRS only allows deductions for real expenseslike paying contractors, buying materials, or hiring property managers.
Buildium
MAY 15, 2025
Relationships with lenders, brokers, contractors, and inspectors can make a big difference when you start investing. List your expected rent income and subtract all expenses, such as your mortgage, taxes, insurance, maintenance, and vacancy periods. Your professional network is another huge advantage. Plan for those cycles financially.
Buildium
FEBRUARY 10, 2025
Additionally, property managers should work to build long-term relationships with reliable contractors and service providers, negotiate favorable contracts, and carefully manage maintenance costs. Common legal challenges include tenant complaints, non-compliance fines, and insurance liabilities.
American Apartment Owners Association
JUNE 30, 2025
Ignoring the cycle can lead to non-compliance fines, insurance complications, or liability if an accident occurs between required inspections. “The repair contractor can also do the inspection.” This means you need a system to track deadlines, maintain records, and plan re-inspections well in advance. Why is this important?
Buildium
JUNE 25, 2025
Create a detailed monthly budget covering maintenance, staffing, utilities, marketing, taxes, insurance, and office operations. Forecasting Tips for On-Time, On-Budget Rental Property Maintenance Staff, Contractors, and Vendor Management for Apartment Management Efficient operations rely on a dependable team and responsive service providers.
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