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Home · Property Management · Tax Tips : Free Tax Tips for Landlords and Property Managers

landlord helpAccording to a study by the GAO (Government Accountability Office), about 25 percent of rental property owners over-reported their net income from rental real estate by overstating rent received or understating expenses or losses.

The estimated amount of net income overstated by misreporting rental property owners was $2.1 billion.

Due to the recession, there has been a significant increase in the number of accidental landlords in the US – property owners who have turned properties that they want to sell into units that they must rent out. Many of these individuals will be including their rental property income and expenses in their tax filing for the first time.

Trexglobal.com, one of many landlord resources, has compiled a free tip sheet of the top 10 tax tips for 2010 that can help save thousands of dollars by minimizing  taxes.

Everyones tax situation is different, and the tax tips or any other landlord resources should not substitute professional advice. Rental property owners should always consult with their tax advisors to consider specific factors that might affect their situation.

The top 10 tax tips for rental property is available at ( http://www.trexglobal.com/property-management/real-estate-news/top-10-tax-tips-for-rental-property ), and other rental property tax deduction tips, along with other landlord resources, are at ( http://www.trexglobal.com/property-management/landlord-resources/rental-property-tax-deductions ).
TReXGlobal.com develops rental management software and property management tools for property managers and landlords including Online and Property Management Software

With AAOA, you have landlord resources at your fingertips. Check out our Landlord Forms page.

American Apartment Owners Association offers discounts on products and services for landlords related to your rental housing investment, including rental forms, tenant debt collection, tenant background checks, insurance and financing. Find out more at www.joinaaoa.org.

  • Debbie Jackson

    Does anyone know if landlords who own their own property and are not hired as property managers are allowed to take deductions for their home office or storage areas?

  • Kim

    Hi Debbie,
    We have an article coming up in the Tuesday newsletter about the home office deduction — if that doesn’t answer your questions, let us know and we’ll ask our accounting experts —

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