Here are a few things to think about if you are an investment property owner using a property manager to manage your rental portfolio.
- Will you be issued a 1099?
- Who issues the 1099 for maintenance performed?
- How will you receive your annual reports?
- Is your tax person permitted to contact the property manager?
These are just a few things to think about. Every year we get asked how the maintenance men (or women) 1099s are handled. Over here at Ad Astra Realty – KC Property Manager we issue 1099s to for the maintenance performed.
Just a reminder that the end of the year is coming and you need to know how your money will be accounted for.