OBX Housing provides all necessary Tax documents for your Outer Banks Long Term Rental
As part of the Property Management services provided by OBX Housing, we prepare a Profit and Loss Statement for all homes that we manage. The breakdown of this document that each client will receive with their 1099 income reporting form is as follows:
- Gross rental money received
- Commission paid to OBX Housing, LLC as Property Manager
- Maintenance and repair invoices paid by OBX Housing, LLC on your behalf and other expenses such as Home Owners Association dues, taxes, insurance, etc.*
- Net rental proceeds received by Owner during the calendar year
*If you need copies of any of these invoices for repairs and maintenance for your Outer Banks rental home, you can view the documents in your Owner Portal. You can get to your Owner Portal from our website at www.liveintheobx.com If you have not activated and accessed your Owner Portal to view your monthly statements, please contact our office and we can send you an invitation by email to do so. At your Owner Portal you can also view copies of your Tenant’s lease and Addendums as well as their Move In Inspection form.
Other items that clients will need to include when forwarding this information to their CPA for tax preparation are:
-Copies of tax bills paid
-Copies of Insurance bills paid
-Home Owners Association dues (if applicable)
-Any other expenses that you paid a vendor directly for at your home.
OBX Housing Tax Documents will be mailed to you in a timely manor
The 1099 form and Profit and Loss statement will be mailed out to you by the end of January. Once we prepare and mail out these documents we will also scan and upload a copy of the 1099 as well as the Profit and Loss Summary to your Owner Portal in case these documents get misplaced or you would like to save them to your computer.
We thank all of our clients for their confidence and partnership in making your Outer Banks Long Term Rental property a success!