By the end of each year, as we, the management company file for the 1099Misc to the IRS(Internal Revenue Services) for those Property Owners who have rental income of $600 and above for the entire year, the property owners will be filing their own taxes to the IRS as well. They will be needing the following documents/reports from us for their reference when filing their taxes.
A. RENTAL OWNER STATEMENT
1. Rental Owner Statement(YTD) - to generate this report from Rent Manager, go to "Reports", "Owners" then "Owner Statement"
2. "From" and "To" Date should from January 1 to December 31 of the previous year then choose the Owner from the list by marking the "check box". Note: If the Owner had terminated their PM contract with us by the time you are generating the report, you need to make sure that both boxes to "Inactive Owners" and "Inactive Properties" are checked for that Owner to be visible on the list. Then click the "View Report" to generate the report. Download the PDF file.
B. OWNER EXPENSE DETAIL REPORT
1. To generate this report from Rent Manager, go to "Reports", "Owner Expense Report"
2. "From" and "To" Date should from January 1 to December 31 of the previous year then choose the Owner from the list by marking the "check box". Note: If the Owner had terminated their PM contract with us by the time you are generating the report, you need to make sure that both boxes to "Inactive Owners" and "Inactive Properties" are checked for that Owner to be visible on the list. Then click the "View Report" to generate the report. Download the PDF file.
C. OWNER BILL ATTACHMENTS REPORT
1. Same as the 2 other reports mentioned above pull up the reports that way. Then download.