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Top 7 Rental Property Management Software | 2018


Top 7 Rental Property Management Software | 2018
5 (100%) 2 votes

A rental property tax deduction is any expense that evolves from owning a rental property. If you spent money to maintain, conserve and manage a rental property, you can use that as a property tax deduction. The most common deductions will be yard care, maintenance, repairs, insurance payments, cleaning and the mortgage payment if there are any. Some other property tax deductions that most people forget about are fees for an accountant, fees for a lawyer, expenses for finding renters, fees paid to rental agencies for finding you a renter, any mileage that is accumulated for said property and depreciation for items included in the rental and of the property itself.

Read More: Top 10 Best Web Based Rental Property Management Software


Depreciation of The Property And Items in The Rental Unit

The depreciation of items in the rental unit may include anything you supply to the tenant such as appliances, furniture, blinds, curtains and other items you might supply for a tenant. You can use these items by depreciating them accordingly. The property depreciation is usually done over a longer period. This is an area for your accountant to handle since they have more experience with depreciating items and properties. You want it done correctly and at the proper time.

Read More: Top Single Family Cloud-Based Property Management Software

Agency, Lawyer And Accounting Fees

If you use a lawyer or an accountant for your rental property, you will use the fees you pay to them as a rental property tax deduction. This is also true for any fees paid to a rental agency that you use to find and scan potential renters. All these fees are tax deductible. This is also true for any advertising you do yourself to find a renter or tenant. These fees are deductible on your taxes.

Mortgage Payments, Insurance Payments And Property Taxes

If you pay a monthly mortgage payment, you can deduct the payment on your taxes. You will also deduct your mortgage interest and property taxes in another area of the tax forms. The insurance premiums that you pay on the rental property are also deductible. This includes any special insurance you need for flood or other weather related issues.

Read More: Top 11 Best Real Estate Property Management Software

All Other Rental Property Deductions

If you pay someone to do yard work or shovel snow, you van deduct it as a service rendered. For a cleaning service, you will deduct this as well. If you do any repairs or any type of maintenance on the property, you can deduct this as well. Remember to keep track of all the miles you drive to and from the property or to stores to get supplies for work done on the rental property, these miles or actually a percentage of them are tax deductible.

Read More: Top 15 Best Real Estate Investment Software Solutions

Because a rental home is just like a business, you are allowed many more deductions than if you were to just live in the house yourself. In some cases, this makes sense, but in some cases, it causes more paperwork and you have to keep the property in working order just as you do with any profitable business or you will lose your investment.


Top 7 Rental Property Management Software:


WORLDOFRENTAL

Free Online rental property management software tools, landlord management software, property maintenance software, online rental software.

WORLDOFRENTAL

WORLDOFRENTAL

BUILDIUM

Buildium’s software helps property management companies become more efficient and profitable. Start your free trial today, no credit card required!

BUILDIUM

BUILDIUM

ARTHURONLINE

Arthur Property management software solution that truly is different. Created out of a need by people in the business.

ARTHURONLINE

ARTHURONLINE

INNAGO

Innago’s online rental property management software is an easy to use tool for small-to-mid-sized landlords and property managers, and… it’s free!

INNAGO

INNAGO

RENTMANAGER

Rent Manager is a powerful property management software tool that combines all the features you need to run your business into one integrated platform.

RENTMANAGER

RENTMANAGER

RENTBOOK

Property Management Software Online for Landlords, Property Managers and Tenants. Manage Your Residential Rental Properties. Free Trial.

RENTBOOK

RENTBOOK

COZY

Landlords who manage their properties with Cozy have less stress and more time. List properties, screen tenants, and collect rent for free.
COZY

COZY

Personal contact info – slikgepotenuz@gmail.com

Permanent Address :- Montville, NJ

CEO and co-founder at Cloudsmallbusinessservice.com