The Dude Posted November 17, 2006 Share Posted November 17, 2006 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 Link to comment Share on other sites More sharing options...
eljeque Posted November 18, 2006 Share Posted November 18, 2006 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 Link to comment Share on other sites More sharing options...
Thaibel Posted November 18, 2006 Share Posted November 18, 2006 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 Link to comment Share on other sites More sharing options...
The Dude Posted November 18, 2006 Author Share Posted November 18, 2006 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? Link to comment Share on other sites More sharing options...
eljeque Posted November 19, 2006 Share Posted November 19, 2006 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 Link to comment Share on other sites More sharing options...
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