article thumbnail

Tax accounting for rental property management: What landlords should know

Buildium

Knowing what constitutes rental income is the first step in effective tax accounting for your rental property. Reporting Rental Income Report your rental income on your tax return for the year you actually receive it. Not Keeping Up with Tax Law Changes Tax laws change frequently, and staying updated is important.

article thumbnail

How to Prevent the Most Common Tenant Screening Pitfalls

Real Property Management Chicago

Tenant screening is one of the most critical steps in rental property management; nevertheless, it’s simple to slip up and make costly issues down the line. Rental history is vital as it delivers valuable insight into a renter’s likely future behavior.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Best Property Management Software for 2025

American Apartment Owners Association

Below, we’ll examine why you need property management software , why Innago is the ideal solution, and how it will change and transform the way you manage your rental properties. With innovations in technology and cloud software, property management software is now the most productive and efficient solution.

article thumbnail

Termites in Your Apartment Building: A Landlord’s Guide

Bay Property Management Group

They can wreak havoc on your property’s structure, furniture, and even, believe it or not, people’s personal belongings. Landlords are generally responsible for pest control , ensuring rentals are termite-free before move-in and covering extermination costs during tenancy unless tenants contribute to the infestation.

article thumbnail

What Insurance Do I Need If I Rent Out My House?

Bay Property Management Group

Read along to learn what each option covers and how to choose the right insurance for your rental. Landlord insurance is essential it covers your property structure, liability risks, and potential loss of rental income if your unit becomes unlivable. What Makes Rental Property Insurance Different from Homeowners Insurance?

article thumbnail

Managing Co-Living Spaces: A Guide for Modern Property Managers

Real Property Management Evertrust

Yet, co-living arrangements bring opportunities and challenges for rental property owners and managers. Let’s analyze closely the rise of co-living spaces, some critical concerns for rental property owners and managers, and approaches for successfully marketing these unique properties.

article thumbnail

What are the Seven Most Important Qualities that Property Owners look for when it comes to Hiring a Property Managers?

Esquire Property Management Group

A property manager who has a solid reputation is able to negotiate obstacles more effectively and offer insightful advice due to their extensive experience. Does your property management team adequately screen potential tenants? Are the fees and costs of your property management service competitive with other companies?