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1099 forms for property management: Everything you need to know (2024 update)

Buildium

With so much on the horizon for property managers, property management tax reporting, may be the last thing on their minds. If the rental property owner is established as a corporation, you do not need to file a 1099-MISC form for payments made to that company. Again, this exemption does not apply to LLCs.

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Property Management Expansion: Strategies for Successfully Entering New Markets

Zeevou

Identifying gaps or unique selling points can help set your properties apart in the market. Finally, familiarise yourself with local laws and regulations governing short-term rentals. Automated responses for common guest inquiries can save time and improve the guest experience, ensuring that you can efficiently manage communication.

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Reserve fund requirements for Canadian condominiums and stratas

Condo Control

Class 1 – Comprehensive study A physical examination of the property must be conducted. The professional will review maintenance records and interview directors, employees and agents of the corporation, and deliver a reserve fund projection that spans at least 30 years.

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How can high-rise condos use AI to make things easier?

Condo Control

Below are some of the most common ways high-rise communities and condo management companies are currently implementing AI. Thats 1/5 of condo fees going to maintenance ! Thats 1/5 of condo fees going to maintenance ! Upload governing documents, and STAN can analyze them in a matter of seconds.

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A practical guide to managing tennis courts, gyms, and other HOA amenities in one place

Condo Control

One of the best things about living in a governed community is the access to amenities. While these amenities arent free (money from HOA dues is used to pay for regular cleaning and maintenance), people do appreciate not having to do the upkeep themselves. Fees can help regulate usage. Guest parking Dont forget to address parking.

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What are the top technological advancements expected to impact property management companies in 2025

Condo Control

Table of contents AI SaaS Sustainability and green technology Mobile apps Smart home integrations Virtual and augmented reality The future of property management tech is much more than online payments and 24/7 communication for residents (though these things matter too). AI AI is everywhere, and like it or not, its here to stay.

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Property management trends: What to prepare for in 2025

Condo Control

Top goals for 2025 If you care for a governed community, the chances are high that these things are ranked high on your list of goals. #1. Residents Modest portfolio growth Most property management businesses plan to expand their portfolios in the next two years. Efficiency #3. Listen to concerns and answer questions.