Anyone who owns a property knows the ongoing costs of managing it. What many people underestimate: Some of these expenses can be claimed against tax - and that can be worthwhile.
What are property management costs anyway?
Property management costs are all expenses incurred in the management of a property. These include, for example
Fees for property management (incl. billing, correspondence, organization)
Costs for external service providers such as tax consultants, notaries or experts
Expenses for owners' meetings or management software
However, typical operating costs that can be passed on to tenants, such as refuse collection or heating costs, are not deductible.
Private or commercial use? That makes the difference
The chances are particularly good for rented properties: property management costs can be deducted in full as income-related expenses in the income tax return. If you live in your property yourself, it is more difficult from a tax perspective - but there are ways around this too.
Tip: A clean separation between private and rented units can be worth hard cash - we'll show you how it works.
How high is the savings potential?
Even a small owner-occupied apartment can be worth several hundred euros a year in tax deductions - for multi-family homes, the figure is often significantly higher. If you don't want to leave your tax return to chance, you should collect receipts early on and seek advice.
Interested in an individual assessment for your property?
We'll show you which costs are really worthwhile and how you can get the most out of them - contact us now.
