A huge factor in the success of the rental property is timely rent payments and an efficient collection system. So, what can landlords do to help ensure on-time rent payments? After all, no landlord wants the hassle of chasing down tenants to try and collect, or worse yet, hearing the payment was lost in the mail. […]
Tag Archives: property management accounting
10
Nov
Nov
Rental property management includes several important tasks, including accounting and reporting. That said, it’s crucial that property managers have strong accounting skills and understand how to overcome challenges that may pop up. So, if you want to learn more about rental property accounting challenges and how to handle them, just keep reading. Contents of This […]
24
Jan
Jan
Tax time can be stressful and confusing for everyone, including property owners and landlords. That said, not everyone is an expert, so it’s important to pay close attention to essential tax documents and requirements. One of the most significant tax forms for landlords is 1099. If you have a management team, like Bay Property Management […]
Buying Rental Properties, Owning a Rental Property in Maryland, Property Management in Howard County, MD, Property Management in Maryland, Renting a Home in Maryland, Tips for Investing in Rental Properties, Tips for Landlords, Tips for New Landlords
When to Hire an Accountant to Handle Your Rental Property Taxes
10
Jan
Jan
Owning a rental property can be stressful, especially during tax time. A rental owner’s countless tasks and responsibilities near tax time can get extremely overwhelming. That said, many rental homeowners prefer to hire a professional accountant rather than file taxes themselves. However, it’s still good for investors to evaluate finances and plan for tax season. […]
16
Dec
Dec
A Property Investor’s Guide to End of Year Tax Planning The endless amount of tasks associated with end-of-year tax planning can be challenging for rental investors. Therefore, we recommend hiring a property management company to assist with tax filing. That said, whether you hire a professional company or file your taxes yourself, you’ll want to […]
03
Feb
Feb
The dreaded end of year tax season is once again upon us. This can be a particularly stressful time for landlords trying to navigate what you can and cannot write off. There are, in fact, many tax benefits for rental property investors, but only if you know how to use them. So, continue reading below […]
14
Dec
Dec
All the tasks associated with managing investment property accounting can seem overwhelming, especially if a landlord lacks the proper foundation and processes needed. Unless you employ a CPA or professional property management company, tax time could prove to be a busy and stressful time. So, continue reading below as we outline tips to prepare for […]
09
Nov
Nov
Upon hearing the word depreciation, your mind might automatically go to the negative. However, for the savvy investor, depreciation signals opportunity! Rental property owners encounter many expenses throughout the year, chipping away at their bottom line. That said, not all expenses create a tangible impact on your cash balance. Depreciation is a paper loss that […]
27
Aug
Aug
When it comes to finances, either personal or business, there are a lot of moving parts. If you add on investment properties as well, it can quickly become overwhelming. Part of being an efficient and responsible landlord involves maintaining impeccable financial records. Additionally, these records become invaluable in instances of tenant or vendor disputes […]
16
Jul
Jul
Managing expenses as a Lancaster property manager takes a commitment to organization. Not tracking your rental income and expenses can turn into a nightmare come tax time. So, avoid the headaches by following these helpful tips below for lowering costs as a Lancaster property manager. Tracking Expenses for Rental Properties If you have […]