Host Todd Allyn

Renting Your Property is a Business Too Renting your property is a huge responsibility and it’s important to explore whether the additional income affects your tax liability. For the best results, ask your accountant to review your income from all sources on a quarterly basis to determine if quarterly tax payments are required. You should also consider hiring a property management company. These organizations are professional property managers who collect rental payments, pay monthly expenses, such as  mortgage payments, property taxes, repairs, and maintenance and utilities bills. Their ongoing attention helps make sure your property stays in excellent condition. Keeping your property in fine condition is crucial if you want to sell your property in the future—and property management professionals can conduct a screening process to help find suitable tenants. In doing so, they may check criminal, credit and eviction records. The management company will also provide a monthly statement showing your profitability, so you can manage your expenses effectively. Just as in any business, the cost of hiring professional help can pay for itself in assuring your property is well-maintained and records are accurate. Boyd Business Management Company, LLC. is a full service accounting firm and our sister company Boyd Management Company, LLC. can handle all your property management company issues. Call 216-932-3938 today to discuss your specific needs.

216-932-3938

If you would like to voice a respectful opinion or respond to a Reader Comment, please Click HERE.

FEBN is a Multi Media Enterprise designed to approach the myriad of financial and political issues that affect our communities as well as people around the world.  FEBN presents current, controversial and essential in a concise and informative manner. The basis of the shows will focus on current events, and how to apply basic economics in today's financially turbulent world. The network is designed to inform, entertain, and empower listeners.

Professor Todd Allyn, with co-host, Professor W. Paul Borkowski,  can be heard weekly

HEARD ON