Some are monthly, some are quarterly.

No experience with the 2 you mentioned, but I'm a fan of paying the year so I don't forget next month/quarter and the coverage lapses.

@Ray WhiteI recommend finding an accountant who specializes in real estate taxation and tax planning for high earners.

We have 3 decks overlooking the lake so it is important to keep up on that stuff.Of course you can always pay the handy person to do a quarterly walk through.

@Tasha RivardI recommend finding an accountant specializing in real estate taxation.

It's not a perfect gauge of demand because you don't know how long each guest stayed and in my experience anywhere from a quarter to a third of guests don't leave reviews anyway.

We do have our account reconciliations audited by a 3rd party quarterly, which helps catch errors before they impact our clients.Highly recommend any owner dealing with a PMC discuss with their PMC and their tax professional, or an expert like @Sean O'Keefe, about how to improve processes and communications to make this process smoother:)

And have you incorporated an annual, semi or quarterly distribution?

My company hosts a free real estate meetup quarterly and it's a great way for investors to network with locals in the industry.

Converting your single-family home into a rental property involves several considerations to protect yourself and ensure smooth operations: Establish an LLC:Liability Protection: Holding the rental property in an LLC can protect your personal assets from potential lawsuits related to the property.Tax Benefits: An LLC can offer tax advantages, such as pass-through taxation, where rental income is taxed at your individual income tax rate.Insurance:Landlord Insurance: Ensures coverage for property damage, liability claims, and loss of rental income.Umbrella Policy: Provides additional liability coverage beyond your landlord insurance, offering extra protection.Deductions:Mortgage Interest and Property Taxes: Continue to deduct these expenses.Depreciation: Depreciate the cost of the property over 27.5 years, excluding the land value.Maintenance and Repairs: Deduct costs related to maintaining the property.Property Management Fees: Deduct fees paid to the property manager.Filing Taxes:Schedule E: Report rental income and expenses on Schedule E of your tax return.Separate Accounts: Maintain separate bank accounts for rental income and expenses to simplify bookkeeping.Lease Agreement:Solid Lease Terms: Ensure your lease agreement is thorough, covering rent amount, due date, late fees, maintenance responsibilities, and eviction terms.Legal Review: Have the lease agreement reviewed by a real estate attorney to ensure compliance with local laws.Tenant Screening:Background Checks: Perform credit, criminal, and eviction history checks on prospective tenants.References: Contact previous landlords and employers for references.Property Management:Regular Inspections: Schedule regular property inspections to ensure it's being maintained properly.Maintenance Fund: Set aside a reserve fund for unexpected repairs and maintenance.Moving Out of State:Communication: Maintain open communication with your property manager.