Saving Clients $ on Taxes
What is one way you can get clients to LOVE you? Lower their taxes! This is also a valuable service you can offer clients for an additional fee – I have seen outside consultants and managers charge 1/3 of the saved amount with a minimum fee which would cover your time.
Here are a few examples:
1) A residential house – I recently lowered tax by 8% – how did I do it – I had a retrospective appraisal done for when the town last did their valuation – so the appraisal was done today using 2008 information to come up with an appraised value that was much less than the town’s valuation. I did the write up and submitted the appraisal as back up and went to the town pre-screen hearing myself – don’t let consultants, lawyers and appraisers make the money.
2) A home owner association – we recently lowed tax from $20,000 /year to $0 – the home owner association common area does not have any value because it can’t be sold and you can’t rent it – You can’t assess or tax something that doesn’t have any value. All the value is in the homes – so maybe each home has a higher tax but at least the owners can deduct that from personal income tax – not so with common charges where this fee was paid from. Now we are working to get a refund from the town for the last 3 years.
So go out there and help your clients save money – get some great referrals – and also do it yourself!
- Property Managers are Problem Solving Consultants
- Refine your sales approach after every pitch
- Tax Time Reflection
- New Year’s Resolutions
- You Don’t Know What You Don’t Know
- Severe Weather Service
- Seeing Into the Future
- Do Your Beliefs Limit You?
- Give Clients Options to Win Business
- Responsiveness – The Key to Customer Happiness
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As a property manager you are accountant, part detective, part home inspector and part facilitator.
I refer to property managers as professional consultants. Some examples of propbems solved are:
Figuring out why a property takes a long time to lease up and how to fix it. Maybe you can solve this yourself by helping to improve the curb appeal, [...]
In the Army, after each practice mission we would do an AAR or After Action Review with the key leaders to share what worked, what didn’t and what could be improved next time. Your sales approach can benefit from the same mental exersice.
After the pitch I think about what I could have done to prepare [...]
Every year I seem to take stock at New Year’s and then again during tax season. There is the opportunity to look at your W-2 and 1099 income and compare it to the year before as well as your income goals. Additionally, you look at your expenses and do the math to see how much [...]
- New Year’s Resolutions
January 5, 2013 - You Don’t Know What You Don’t Know
December 4, 2012 - Severe Weather Service
October 30, 2012 - Seeing Into the Future
October 4, 2012 - Do Your Beliefs Limit You?
September 5, 2012 - Give Clients Options to Win Business
August 3, 2012 - Responsiveness – The Key to Customer Happiness
July 5, 2012 - Growth and Disruption
June 15, 2012 - Management Marketplace Opportunity
May 3, 2012 - Saving Clients $ on Taxes
April 5, 2012
Educated at Cornell University. Trained in the United States Army. Russell Munz has taken resources from both of these experiences to benefit you with the documentation included in the Quick Start Property Manager Program.