Property Taxes

Watch out for your property taxes.  If you own houses in a state that has high property taxes make sure you are extra careful watching the value of your home.  Property taxes will rise, but it is important to challenge those taxes if they rise faster than homes on your street.  Get the comparable values, as most Landlords own houses for the long term.  You can challenge your taxes with the taxing authority, especially if you have bought your properties in the last few years.  The best case examples is bringing in your closing statements to those authorities.  They will match them to your recent closing prices, and if comparable sales have been lower than what you purchased you homes at they will also match them to those closing prices of those homes.  When you own for the long term it is important to be efficient with all of your costs, whether those costs are: taxes, maintenance charges, interest charges, insurance costs, etc. be the best you can be.  Rental rates are your revenue and the rest are costs.  Mange your costs.  Posted by your Landlord service expert.