Can Form 8854 Defined 2023-2024

As an investment property owner, you have invested in one of the most valuable assets you're likely to own. It is vital to choose the right team to manage that asset and ensure the equity is being retained. We're often asked what is involved in the fee that is charged, and we're often told that ABC agency only charges X amount. At times, a property owner believes that a property manager only collects the rent and fixes leaky taps, and that's fine if that's all there is to it. So why is there such a variation in the fees being charged by property management agencies? We agree that there are many agents charging anywhere from four percent to nine or ten percent as a management fee, and we also agree that's a huge difference. If your main focus is what a property manager charges, then you have a great choice of cheap agents. But can we point out to you that the money you will save in the short term per month on agent fees will often cost you more during or at the end of the tenancy when your valuable investment has not been managed properly? Agents who offer this heavily reduced fee, ranging from four to seven percent, are often agencies that are not customer service based. From my experience in the industry and as a business owner, you cannot possibly be doing an excellent job for each and every client's investment due to the staff being overloaded with properties to manage. In order to produce an income for the business that is sustainable, not only does the client suffer, but so does the investment, the tenant, and the business. This, to me, is not a win-win situation. So, what does an excellent property manager do? Yes, we manage properties and...