Tax Deductions on Rentals for Landlord and Investor

Tax Deductions Every Property Investor Should Know About

Did you know that rental properties provide more tax benefits than most other investments? Were you aware that by owning rentals you are entitled to deduct on your taxes a full array of necessary business related expenses towards conserving, managing and upkeep that are associated with your rental investment properties?

The many available tax deductions on rentals can have a significant impact.

Almost everything you buy for your rental business is tax deductible, so long as it is ordinary and necessary and the cost is not unreasonable. These deductions can really add up and increase your bottom line. No one wants to pay more than necessary to fix up their rental units or pay more than they have to for utilities or other operating expenses for a rental property, so why pay more taxes on your rental income than necessary? Yet, surprisingly many tax benefits are overlooked by the investor.

Investors can deduct mortgage interest payments on loans used to acquire or improve rental property, interest on credit cards for goods or services used in a rental activity, homeowner’s association dues, special assessments, wages and salaries for employees, such as on sight residential managers and maintenance workers and even for legal and professional services such as attorneys, accountants, property management companies and other professionals.

Other tax-deductible services that can be used as deductions are independent contractors, needed for the repairs or maintenance of the property, such as a handyman, electrician, plumbers; pest control, lawn and garden upkeep, preventative work; roofers, painter etc….

Additionally if you rent equipment and tools or buy material and supplies, these too are fully deductible as a business expense.

If your rental property is damaged or destroyed like from a fire or flood, you should be able to obtain a tax deduction for your casualty losses.  And speaking of casualty, you can also deduct the premiums you pay for most insurance for your rental property.

Bottom line – speak with an experienced accountant and let him/her guide you on how to maximize the tax deductions on rentals and your property. You may have a tax deduction gold mine.

About Octazon:  Whether you own a few properties or hundreds of properties in Florida, Octazon Management, LLC is here to simplify property ownership and management. We can help you manage any and all of your properties.  At Octazon we provide simplicity & peace of mind.  Octazon uses cutting edge, cloud based property management software that fully integrates the entire property management and financial process enabling the investor direct access to valuable owner/investor information and reports 24/7 that helps you and your accountant identify all your valuable tax deductions.  

When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales – so you never have to worry about losing control of your relationship with the owner. 

Providing Simplicity and Peace of Mind™ 

Call us 954-674-2467 or email us at info@octazon.com today.

Check us out @ www.octazon.com 

SINGLE FAMILY HOMES- MULTI FAMILY – COMMERCIAL – OFFICE INDUSTRIAL

South Florida Apartment Rentals Are Still Hot!

South Florida Apartment Rentals in Growing Demand – Act Now!

There is still time to benefit from the worst U.S. housing shortage in a decade. As we start off 2015 there is great news for investors of multifamily housing – especially in upscale units.

There is an under supply of single family houses and apartments to rent for the first time since 2001. This has caused South Florida Apartment Rentals rates to rise faster than many of the nation’s largest metro areas.

As former homeowners prefer to turn to rentals in large numbers, the apartment sector continues to grow. Additionally, millennials and others who prefer to remain mobile or prefer the excitement of downtown living and the urban life style, are facilitating the pent-up demand for apartments. This is keeping the apartment market healthy, increasing and robust.

Joseph Thomas, a vice president for the Marcus & Millichap firm in Fort Lauderdale said “We’re seeing the market respond with a willingness to pay very, very strong rent for a quality product.”

To satisfy this demand, developers are building thousands of apartments across South Florida, many of them being luxury units.

But not all the construction and cranes that you see dotting the South Florida market are with the focus on renters. Many buyers (even the foreign buyers) have no interest in renting, but prefer to keep their units empty and for personal seasonal use. This means that, for some time, there will still be a shortage of South Florida apartment rentals available, especially in the luxury arena. With a lack of existing supply and with rental rates steadily increasing, this is still a landlord’s market.

About Octazon:  Whether you own a few properties or hundreds of properties in Florida, Octazon Management, LLC is here to simplify property ownership and management. We can help you manage any and all of your properties.  At Octazon we provide simplicity & peace of mind.  Octazon uses cutting edge, cloud based property management software that fully integrates the entire property management and financial process enabling the investor direct access to valuable owner/investor information 24/7.

When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales  – so you never have to worry about losing control of your relationship with the owner. 

Providing Simplicity and Peace of Mind™ 

Call us 954-674-2467 or email us at info@octazon.com today.

                                Check us out @ www.octazon.com 

SINGLE FAMILY HOMES- MULTI FAMILY – COMMERCIAL – OFFICE INDUSTRIAL