taxes

Property Management from A-Z: Y

April 14, 2010

Yearly Planning, Year-End Planning Yearly Planning – this should be done before the new year begins.  It should also be reviewed quarterly.  Again, this is your business, your investment.  What should be part of your yearly-planning?  Any turnovers coming up, what maintenance needs to be done this year?  Have a budget?  Taxes, Insurance, Mortgage, Utilities [...]

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Property Management from A-Z: W

April 7, 2010

Wealth, Waste (time & money), Wear & Tear, Web Wealth – Owning investment property is an excellent way to build long term wealth.  As long as you manage your property as an investment and business your chances of building wealth will be good.  Many people don’t treat their rentals as an investment and therefore actually [...]

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Property Management from A-Z: T

March 29, 2010

Taxes, Turnovers, Time Management Taxes -  due Nov 10th and Feb 10th but most pay in Dec and April before the deadline.  April taxes are tough because personal taxes are due as well.  The most important thing to remember with taxes is to make sure to build up the reserve monthly.  When property values drop [...]

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Property Management from A-Z: O

March 12, 2010

Organization Even if you have only 1 rental you need to be organized and have a system that keeps all your records in order.  I have a binder and it has the following tabs: Summary – 1sheet with tenant contact info, rental amount, security deposit amount, recent maintenance done Lease – lease and application, credit [...]

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Property Management from A-Z: M

March 8, 2010

Management – Time, Money, Maintenance, Relationships Management – Time This is extremely important if you are going to manage your properties yourself.  Prospects can gobble up and waste your time.  The biggest tip I can give all of you is to make applicants, tenants fit your schedule.  I don’t do open houses for showings – [...]

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