Renting Out My Condo

[The Dude]

How much will I have to shell out for taxes on the income and management fees? Anything else I need to know? thx to all. shovel in advance

[eljeque]

How much will I have to shell out for taxes on the income and management fees? Anything else I need to know? thx to all. shovel in advance

Be careful about having an agent retn out your property for you. Allow them to find the renter, pay a one month commission, and then take care of it youself, or have a friend look over the property for you.

Agents here are not the most honorable lot. You may find a list of repairs that were made up from thin air.

Giood luck

[Thaibel]

How much will I have to shell out for taxes on the income and management fees? Anything else I need to know? thx to all. shovel in advance

Cheapest way is to find an agent in the city where you have your condo.

Standard commission is 1 month for 1 year contract and 1/2 month for 6 month contract.

Good Luck

Thaibel Asia

[The Dude]

Thanks to you both for that information. Does anyone know what the tax rate is on the rental income? I've heard 12.5%. Is this accurate?

[eljeque]

The agencies that found renters for me in the past neve told me about paying taxes on the income and I never did. I am not saying that what I did was legally correct, but that I simply never thought about it.

Ask the other board members if they pay taxes on their rental income or if it is common.

Their might be a minimum that you need to earn in order for you to need to pay taxes on the rental income.

Good luck