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Updated about 6 years ago on . Most recent reply
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How does Property Management affect taxes?
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.