Rental Property can provide you with a steady income, but as you may have learned it’s not free. Rentals come with hidden costs that can affect a landlord’s profitability. Being aware of those expenses, you as a landlord can better prepare yourself for the financial realities of owning rental property.
The tax responsibility of owning rentals is to account for federal and state income and expenses on each rental property. Supporting documents such as bank statements, receipts, or credit cards can be used to support your income and expenses.
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However, if you do not have the time or expertise to manage your properties yourself, hiring a property management company may be an affordable solution. Property management fees typically range from 6% to 12% of the total monthly rental income per property. While these services can relieve much of the burden on you as a landlord, they may also reduce the overall profitability of the rental property.
Here’s My Free Offer
If you have a single-family home, duplex, multi-unit properties, or short term rentals, my RENTAL PROPERTY ORGANIZER program may be of interest to you.
The RENTAL PROPERTY ORGANIZER is a custom-made database program that I created some 50 years ago to track my Properties, Vendors, Tenants, Income, Property Expenses, and Travel Expenses. With this program you’ll be able to generate tax reports for each rental within minutes to present to your tax practitioner.
After reviewing the cost of property management fees (currently 6%-12%) and various rental property management software (monthly fees, etc.), I decided to become a Landlord Property Manager (my personal story - How To Find An Acceptable Tenant).
To help individuals that are currently or prospective landlords, I made an executive decision (lol…I say this to my wife every time “I” agree with her) to help others by offering them a Free Offer!
So, if you’re thinking of becoming a landlord and manage your rental property or thinking about buying rental property, here’s what I’m offering:
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Copy of my Rental Agreement in MS Word so you can make easy changes as needed.
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Copy of 8 Addendums I use
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Copy of my eBOOK, "How To Find An Acceptable Tenant"
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Copy of the RENTAL PROPERTY ORGANIZER database
To accept my free offer, click HERE to make a request
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I believe the above free items will simplify your property management.