Property Management Services in Doraville Georgia

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Have you ever taken the time to find out how RentVest has become the go to agency by rental property owners looking for Property Management Companies near Polk City, FL? It starts by making sure all parties are satisfied and customer service that is next to none.. Yes, it is a fact that the number of property management agencies in Doraville Georgia has grown to an unprecedented number! Regardless, more rental property owners have select RentVest over those other Property Management Companies near Colorado Springs Colorado in the last 5 years because we deliver as we promised.

Best Reviews for Professional Property Management Services near Doraville Georgia

Rajha Wilson
Rajha Wilson

5 out of 5 stars

posted 1 week ago

I would like to say that Aidan was extremely helpful. He was quick to respond and was nice enough to follow up after everything was settled to be sure it was satisfactory service. Thank you Aidan, for making a bad situation so much more bearable by being attentive and keeping an open line of communication for all of my concerns. It has been very much appreciated.

D Mitchell
D Mitchell

5 out of 5 stars

posted 11 months ago

We applied through RentVest for one house but it was rented. RentVest allowed us to use our application for other places. Very nice. Synthia Daniels was our agent and she got us into a new house within days. Great working with her.

David Gray
David Gray

5 out of 5 stars

posted 4 days ago

Aidan Mascarina received our request of a poorly functioning air conditioning unit. Her timely response and professionalism was amazing! I don't know what her wage is, but I believe she needs a raise!! :)

The best time to Engage a Property Manager in Doraville Georgia?

For those who have been handling rental properties for quite a while, you know that it can be financially satisfying. However, property management is difficult. It can be safe to manage your own properties, especially if you do not mind dedicating your time and expense for the job. But occasionally you should work with a property manager. Continue reading to find out when you ought to contract a property manager.

  1. When You Hold Several Rental Units

Your duties mounts as the volume of your properties increases. Whenever you increase the quantity of your homes, you obviously increase the quantity of your occupants. Which means you may have more complaints, maintenance issues, and even vacancies. It is sometimes complicated to manage these units. You may engage a property manager to reduce the workload.

  1. To Set The Correct Rental Prices

When you are a new rental property owner, you may not understand how to set the best rental rates. When your rental rates are high, you may never get tenants. Hiring a property manager, who can help set the right rental rates, is the perfect choice. The manager oversees thorough market research and studies prior to agreeing on the rental rate.

  1. When You Don’t Know How To Manage Properties

You may be new to property management, so you don’t have experience with managing rental homes. Properties managers understand how to manage rental apartments,  because they may have been managing these properties, for several years. It can be expensive to learn along the way because you could make mistakes that can cost you a lot of money.

  1. For Publicizing The Rental Property

If you don’t  know realize how to promote your vacant properties, you may take a long time to obtain the right tenants. Property managers understand specifically where to advertise your vacant houses. And they make compelling advertising materials. So, they take a small amount of time to obtain the ideal tenants.

In conclusion, getting a property manager is the best reaction you can have. Property managers can save you a lot of cash. And you may make a lot of money over time if you engage a reputable property manager or company. In conclution everybody searching for Property Management Company near Beaverton, Oregon Property Management Companies near Hillsboro, Oregon, needs to take a look at what RentVest of Doraville Georgia is offering to real estate investors looking for property management companies in Doraville Georgia. For additiona details about property management companies in Doraville Georgia, please, check out out blog.

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Tax-Deductible Expenses Real Estate Property Management Companies and Landlords Should be Tracking

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Consistent tracking of income and expense records isn’t the most stimulating task that real estate property management companies and landlords handle, but it is at the top of the list of priorities. In most cases, property owners are entitled to deduct expenses of up to $25,000 each year from their taxable income, which means that keeping accurate records is critical to making sure nothing is left on the table.

When calculating the property owner’s tax deductions, what expenses can be deducted?  Below is detailed information regarding 8 important tax-deductible expenses that property owners can leverage to minimize their income tax obligation at the end of the year and look at software this article, we explore 8 major tax-deductible expenses that real estate property management companies can take advantage of to minimize their income tax bill at the end of the year and look at software options for rental property management that helps track income and expenses to avoid potentially costly mistakes.

Repairs & Maintenance

The costs of making improvements on a rental property are not deductible but the costs of repairs and general maintenance can be deducted—basically, any expenses necessary to maintain the property’s condition are deductible. These expenditures must be considered necessary, reasonable and standard.

Below are some examples of standard maintenance and repair costs:

  • Gardening/landscaping/tree trimming
  • Painting
  • Pest control
  • Plumbing repairs
  • Pool maintenance and cleaning
  • Rental of necessary tools and equipment
  • Replacing broken windows

Interest

Three principle expenses for which interest is tax-deductible include:

1. Interest on mortgage payments. The mortgage itself is not deductible.

2. Interest on loans financed for property improvements. The actual costs incurred for property improvements are not tax-deductible.

3. Interest on credit card payments applied to goods and services for a rental property. Interest on these items can add up quickly, making the ability to offset these payments against the property owner’s taxes potentially valuable.

Depreciation of the Property

A property’s value can be depreciated over a period of 27.5 years and deducted against the property’s profits. For example, a property owner with a property worth $150,000 would be able to deduct $5,454.54 each year for 27.5 years until the property is fully deducted.

Nevertheless, the two following provisions are worth noting:

  1. The IRS will claim a portion of the depreciated value back upon the sale of the property, a provision called depreciation recapture.
  2. Only the value of the property itself is depreciable. The land on which the property stands is not depreciable.

Personal Property used in the Rental

The cost of any items or furnishings owned by the property owner and used in the rental property can be deducted.  For example, any furnishings or appliances such as a refrigerator, freezer, dishwasher, etc.

The cost of personal property used in a rental activity can usually be deducted in one year using the de minimis safe harbor deduction (for items costing up to $2,000) or 100 percent bonus depreciation, which will remain in effect until 2022.

Travel Expenses
Property owners are entitled to deduct travel expenses when traveling to their rental property for the purposes of managing and maintaining their property. For example, travel expenses incurred when driving to a rental property to perform a routine inspection or deal with a maintenance request are deductible.  The standard mileage rate that can be deducted for 2020 is 57.5 cents per mile.

It’s important to note that property owners cannot deduct travel expenses when the reason for travel is to make improvements to the property. Instead, these expenses must be added to the property’s tax basis and depreciated with the property over 27.5 years.

Property owners may also be able to deduct expenses when traveling overnight including airfare and hotel bills. These types of expenses are closely scrutinized, which is why it’s so important to keep excellent records.

Pass-Through Tax Deduction

Pass through tax deduction, formally known as the Section 199a Qualified Business Income Deduction,  is part of the Tax Cuts and Jobs Act, which went into effect in the 2018 tax year. The end goal is to encourage Americans to start small businesses and engage in other entrepreneurial ventures.

At a basic level pass-through tax deduction lets U.S. taxpayers deduct as much as 20 percent of their business income that comes from “pass-through” entities such as:

  • LLC’s;
  • Sole Proprietor;
  • S Corporations;
  • C Corporations.

This deduction is scheduled to expire after 2025.

Real Estate Property Management Companies Fees

Property owners who employ a property management company or use property management software to help manage their property may be able to deduct this as a business expense. Additionally, other expenses that are often deductible include listing fees and expenses.

Legal Fees and Services
The final item on this list involved the fees property owners pay to accountants, attorneys or other professionals and advisors that help with running and management of the real estate business.

Property owners can deduct these fees as operating expenses as long as the fees are paid for work related to rental activity.

This also covers any costs for legal actions required to recover unpaid rent.

Visit the IRS Website for more information.

Final Words

There are many miscellaneous costs that are part and parcel with owning rental property. These costs can add up quickly. However, as mentioned earlier, the IRS allows most rental property owners to deduct up to $25,000 from their taxes to ease their cost burden and help real estate property management companies grow profitable businesses.

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