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Real Estate Rental CPA

These days more and more people are getting interested in real estate investment. With the enlargement of cities, creation of new towns and rapid urbanization, real estate properties are getting more importance. People find multiple ways of investing in this industry; real estate rental investment is one of them. Managing investment in real estate is a complicated job. Rules and laws are either changing or up grading almost every day. Common people find it really tough to keep at par with all these ever changing rules and regulations. Obviously, an expert real estate rental CPA can help an investor very efficiently in all these matters.

Owning a rental property has many financial benefits, but the investor should maximize his benefits through proper channels. Only an experienced CPA can advice him properly in this matter. Before acquiring a rental property, a number of things need to be considered:

  • Condition of the property to be inspected thoroughly before taking final decision. Many a times seller suppress vital aspects regarding a property which may have many financial consequences for the buyer in future.
  • Type of tenants already occupying the properties. 
  • Types of agreement already existing with the tenants and whether there is any scope for rent enhancement, re-agreement and reassignment of possession.
  • Whether there is any community rent control system or agreement already prevailing.
  • Possible financial gains after taxation.
  • All possible ways of debt reduction.

The most positive aspect of any real estate rental property is that over the time the tenants buy the property on behalf of you and the long term depreciation is adjusted through rental incomes. At the same time from the very beginning, the property creates financial benefits for the owner. But, these all are possible only if the owner plans well ahead with the help of an experienced CPA.

Not all CPAs are knowledgeable enough to create all positive financial environments for a real estate rental property owner. Properties of this kind need expert knowledge in accounting and taxation as also planning right from the beginning of buying the property. Only the expert CPAs who have been dealing with this kind of rental properties for years can keep their clients highly satisfied. 

There are several tax related issues during purchase, maintenance or selling a rental property. Expert CPAs can advice the owner regarding tax consequences in the event of property handling, property development, depreciation of property, HOA and many other related matters. State taxation rules even change for individuals who are real estate professionals and for passive real estate investors. Apart from these, support of a CPA is really needed in the following events too-

  •  Cost segregation studies
  •  Loan proposals and loan packages
  •  Valuation of partnership interest if any
  •  Taxation structuring and preparation of financial statements
  •  Portfolio analysis
  •  Strategic planning regarding real estate rentals
  •  Tax consequences regarding purchases, sale or foreclosures. 
  •  Property depreciation calculation etc.

A professional Real estate rental CPA remains updated regarding all the changes and amendments in the real estate laws and rules, which helps the clients to get maximum benefits from the prevailing tax structures in the country. 

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