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Updated about 6 years ago on . Most recent reply

User Stats

12
Posts
4
Votes
Patrick Crotty
  • Brooklyn, NY
4
Votes |
12
Posts

How does Property Management affect taxes?

Patrick Crotty
  • Brooklyn, NY
Posted

Hello all,

I am trying to establish my property management experience by offering my services to my landlady where I already live.  The building is a three unit townhouse in which the landlady also lives.  I already do a lot of things around the building for her and have experience in construction management.  I brought this idea up to her and she rejected the idea out of concern over how a property manager would affect her taxes among a few other concerns that I have been trying to assuage.  Apparently the City of New York (she wasn't clear on what department) asks her every year if she has a property manager.  She is an older lady and definitely is having some trouble understanding my offer on the table. I have slowly and consistently been explaining exactly what this would mean for her, but I do not know about the tax question.  Any help here is much appreciated.  Thanks. 

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