Property Management & Property Taxes
Landlords who own several investment properties and don’t have the time or desire to manage them themselves oftentimes invest in the services of property management companies. Property management companies basically manage every aspect of the properties for the owners so that their time is freed up for other tasks. Part of managing property is ensuring that the property taxes get paid every year, and that can sometimes provide property management companies with problems if landlords’ property taxes end up being more than the owners anticipated they would. They might not want to pay the high taxes and could advocate for the property management companies to appeal the tax liability.
Property Management Liabilities
In fact, according to the National Association of Realtors, the amount of lawsuits filed against property management companies is growing every year. As managers of clients’ properties, property management companies are supposed to ensure that all applicable deductions, credits and other property tax breaks are taken for their clients. They are also responsible for ensuring that all financial documents reach their clients on time and are filled out and submitted appropriately and on time. The problem is that when property management companies don’t have all the applicable information they need to have about the properties from their clients or are juggling the management of too many properties without the appropriate resources, mistakes can be made.
Assessment Technologies Can Help
Assessment Technologies experts can help property management companies with the property tax portion of their management procedures. If property management companies believe that their clients have been charged too much for their property taxes, Assessment Technologies can experts can employ their unique valuation formula to assess the properties themselves and ensure that they haven’t been overassessed. If Assessment Technologies believes that properties have been overassessed, they will work with property management companies and aggressively fight for a reassessment and a reduction or refund in tax liabilities. Not only does this help save the property owner money that he or she is entitled to, but it also helps property management companies stay in good standing with their clients. Assessment Technologies has the industry experts to evaluate complex properties, conduct research on similar market trends and evaluate other factors that contribute to a fair assessment of properties, so property management companies can ensure their clients never have to pay more in property taxes because of over-assessment. Assessment Technologies will also ensure that all deductions and credits properties are eligible for are taken as well, further increasing the efficiency of busy property management companies.