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Updated over 2 years ago,
AirBnB Tax Write-offs when using an STR Management Company
Hello,
I see there are plenty of other posts with great information regarding tax write-offs and AirBnBs, but I am specifically asking about write-offs in conjunction with using a STR management company.
Context:
Currently, I own an STR and live in it when it is not occupied. I have hired a STR property management company that sends me monthly payout stubs. Great company, can't complain. However, the payout stubs only include a "Payout to Homeowner" figure less any expenses directly related to me, such as my extra cleaning request or items specifically purchased for the property. I have included an example payout stub in the post for further context. You can see at the bottom in the notes section that I receive 84% of the net payout amount due to their 16% management fee.
From my understanding there should be a gross rent amount, less cleaning fees for each check in, less AirBnB service fees for each check in, less any other fees, resulting in a net rent amount. Then net rent less the 16% management fee that then results in the "payout to Homeowner figure", followed by the rest which is already included in the existing breakdown.
Question:
It seems there are a lot of expenses missing from this payout stub that I can take advantage of and write off. I reached out to the STR management company to get a further breakdown of what I discussed above. Should I be able to write off all of those expenses? Is there any notion that these expenses could be "passing through" the management company, therefore they are not mine to write off?
Side Question:
I don't want to complicate my primary question with any more variables, but as a secondary, ceteris paribus question.... if the owner lives part time in the STR how does one write off expenses not directly related to STR operation, such as insurance and utilities?
Thanks!