Solid documentation is the be-all and end-all when it comes to claiming property management costs for tax purposes. Only those who can prove which expenses were actually incurred and what they were used for have a good chance of successfully claiming them from the tax office. The following overview will help you to keep track.
1. contracts and management documents
Keep all contractual agreements with the property management company. This includes in particular
The management contract with precise details of services and remuneration
Annual financial statements comparing income and expenses
Business plans for the coming year
Minutes of the owners' meetings in which measures and costs were voted on
These documents not only serve as proof for the tax office, but also help with the long-term documentation and traceability of your real estate management.
2. invoices and proof of payment
Specific proof of payment is particularly important. Make sure that they contain all tax-relevant information, such as the service period, exact description of the service and the payee. Important documents are
Property management fees
Invoices from tax consultants in connection with the property
Legal fees for tenancy law disputes
Expert opinions or valuations by experts (e.g. in the event of sale or disputes)
Even smaller amounts should be recorded in full - these can quickly become significant in the event of a tax audit.
3. other relevant documents
In addition to the obvious administrative costs, there are other documents that are often overlooked:
Proof of travel expenses if you manage the property yourself or check it regularly
Bank statements proving your payments
Documents relating to maintenance measures, provided they were handled by the administration
For properties that are partly owner-occupied and partly rented out, a clear separation of costs is essential. To this end, you should also document internal allocations (e.g. area keys, demarcation of usage areas).
Our tip: Set up a digital archive that is organized by property and calendar year. This way, you will have all documents quickly to hand in the event of a query or inspection - and save yourself unnecessary stress.
Do you want to make sure that you haven't forgotten anything or check which of your costs are actually deductible?
We will be happy to advise you. Simply contact us - personally, competently and straightforwardly.
