The Property Management amount is a Guaranteed Payment and is reported on line 4 or line 14 of that specific partner's K-1 with a notation of "A" as the payment type.All other profits and losses for that partner (and any others) get reported on line 2.Do not 1099 the partner.

View report*This link comes directly from our calculators, based on information input by the member who posted.

I was reading the report from Landsec (https://landsec.com/sites/default/files/2018-06/Landsec_AR2018_web_ready_final.pdf) and I am trying to understand why they incurred so much expense.

Thanks in advance!

In the past, I have adjusted the due date, set up 1099 type tenants on a quarterly payment schedule, requested (and received) 2-3 months rent in advance, sold the property via lease/option, etc.I get that the norm is rent due by the 1st, late fee accrues on the 6th, but this tenant's situation apparently doesn't fall into the normal category, so ask the question, then evaluate whether you can live with (and accommodate) the answer.Good luck!

Appreciate the responses in advance for anyone who has done a deal like this or has suggestions!

Appreciate the responses in advance for anyone who has done a deal like this or has suggestions!

Good contractors are booked out months in advance in this busy market, and managing contractors is challenging in the best of times.  

A tenant may terminate a month-to-month lease (or any rental agreement that does not have a specific term) by providing a written notice one month in advance of the time that the renewed rental period would start.

When the title report came back on this property, it showed a 57k IRS federal lien against this property.