\"Free Rent\" For Your Property Manager Could Cost You

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\"Free Rent\" For Your Property Manager Could Cost You

If you own a multi-unit complex chances are you have an onsite property manager. If living on site is a perquisite to being a property manager, then federal income taxes are not a concern for either the property owner or the manager. Shortly thereafter, he offered an existing tenant free rent ($600 value) in exchange for serving as his onsite property manager. - - - - - - - - - - - - - - - - - - - - - - - - - - - -If you have an onsite property manager it would be wise to keep a record of his hours and enter into a formal contact with the manager. If you employ a property manager I suggest you contact your state department of Labor and Industries to determine your reporting requirements.

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