Hi Desert Real Estate Forum

Starting 1 January 2010, all resident property managers in California will be required to collect 7% of income from property owners and deliver it to the Franchise Tax Board.  If you are a resident of California, a simple form can be filed with your property manager that will waive this requirement.  If you are a non resident of California you may request a reduction or a waiver from the Franchise Tax Board.  That waiver, once approved will be forwarded to your property manager.

Next week, Triad will be sending notification to all of our property owners detailing the requirements.  I encourage any income producing property owner with questions to contact me for assistance