Renters and Property Taxes
Do renters pay for property taxes?
Laura Adams, MBA
Q. Do renters in apartment complexes, condominiums, or trailer parks pay property taxes?
Answer. It’s not common for a non-commercial tenant to be asked to pay specifically for property taxes. Property taxes are the responsibility of the owner, unless specified otherwise in a lease. However, the rent that a residential property owner charges should be high enough to cover all of their expenses, such as mortgage payments, insurance, maintenance, and property taxes.
If they can’t collect enough rent to pay their expenses, they’ll have a negative cash flow on the investment property. And nobody wants that.
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About the Author
Laura Adams received an MBA from the University of Florida. She’s an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura’s previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.