Los Angeles property management services are 100% FREE
Well, I will be honest, I am being a LITTLE bit misleading. But then again, maybe I’m not. Technically, your Los Angeles property management services are free if you look at them as a tax write off. Yes folks, property management services are a write off.
That means, when your Los Angeles property management company sends you a 1099 during tax season as well as your profit and loss statement, make sure you remind your CPA to write off all the losses you took on your property.
Losses include: maintenance/repairs, Los Angeles property management fees for their service, depreciation and so much more. Make sure you select a CPA who is well verses in filing tax returns for real estate investments.
Write off your Los Angeles property management company’s fee every month
Since you can write off your Los Angeles property management company’s fee each month, look at this as a free service! Lets say the fee is $150 per month. $150 x 12 = $1,800 for an entire year. That is $1,800 dollars you won’t have to pay tax on. Make sure your Los Angeles property management company is tracking EVERY payable and receivable. If they AREN’T tracking all payables and receivables, then you aren’t getting the maximum amount of write offs you could be getting!
Ask your Los Angeles property management company about ALL their fee’s. Specifically ask: “do you have any hidden fees or surcharges.” If they say yes, ask: “Are the hidden fee’s and surcharges accounted for in the profit and loss statement?” If the Los Angeles property management company says no it’s NOT accounted for, you need to find a different company!
Make sure your Los Angeles property management company isn’t charging you hidden fees that you will not know about. This will reduce your write offs and return on investment!
Your Los Angeles property management company should be MAKING you money
Even if you couldn’t write off your Los Angeles property management company’s fee, they should be making you more money than before your hired them. A professional Los Angeles property management company is worth their weight in gold. Good management company’s can spot what is killing an owners ROI and turn it around in a matter of months. Also, leasing is much easier and streamlined due to the infrastructure the company SHOULD have with their property management software.
Ask your Los Angeles property management company what software they are using for filling vacancies. If they AREN’T using Appfolio, be weary of hiring them. www.Appfolio.com is the Ferrari, the Lamborghini, the Michael Jordan of property management softwares. It’s not cheap, but it’s worth every penny. A property management company using Appfolio alone will boost an owners ROI and reduce liability!
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