Yes, you continue to report all the expenses as a vacant rental property through 2008. If it goes vacant all of 2009, though, be prepared for an audit, because if you can’t rent it for 18 months, then you’re not trying and it looks like tax evasion. #1 piece of advice is to drop your rent rates immediately.
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Experience With Finance. As a property manager, you do not need to be an accountant, but you will be responsible for financial calculations and keeping tabs on cash flow. Now, there is accounting software that allows you to keep track of rent collection amounts, and even collect rent virtually from residents.
If you’re interested in starting one, here are 50 rental business ideas to consider. The rental services industry has been growing steadily. The rental services industry has been growing steadily since the recession, according to data from the U.S. Bureau of Labor Statistics.
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Property Management Courses, Classes and Career Training Information. Property management courses are often taken by those who wish to work in the areas of residential or commercial property.
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“Real estate always had a subscription model, it was a rent contract. [WeWork] just changed the time period of the subscription and gave you a really easy way. two giants in the property business.