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Updated almost 5 years ago on . Most recent reply
Rental property checks
Was wondering what is the best way to setup the rental property income?
I plan on using a property management company.
Having the renters send the PM rent directly sounds like it has more cons then pros.
Just wondering what other ppl do
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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
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#5 Medium-Term Rentals Contributor
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- Youngstown, OH
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Nicole Heasley Beitenman
#5 Medium-Term Rentals Contributor
Pro Member
#5 Medium-Term Rentals Contributor
- Investor
- Youngstown, OH
Originally posted by @Bjorn Ahlblad:
@Anthony Murphy PM's base their pricing on gross rent typically so they collect it, take their cut plus expenses and send you the rest. You get a 1099 at year end.
If that's the case, be sure to really comb that contract. It wouldn't hurt to have an attorney review it.