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- Current copy of detailed notes

- A sample accounting spreadsheet we use instead of costly accounting software

- A sample Statement of Qualification and Operating Agreement for an LLP

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Sunday, January 2, 2011

City Rental Tax

OK, I should have seen this one coming. The city in which a rental property is located wants some tax revenue from rental income. In Avondale it is 2.5% and in Phoenix it is 2%. Landlords are expected to charge renters the tax, and remit it to the city. Monthly.

Even if the renter pays the tax, it is still potentially a paperwork headache for landlords.

Fortunately, the Property Manager we use...National Rental Pros...has stepped up and hired an accountant to look after it. There is an initial $19 fee to register the Property Manager as an agent for this purpose. In the case of NRP, it is transparent to the property owner thereafter. Nice!


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