Rental Property Tax Deductions Every Landlord Should Know

The tax code is generous to landlords - if you know where to look. Most landlords claim mortgage interest, property taxes, and insurance. But there are 15+ additional deductions that can save you $2,000-5,000 per year.

The Formula

Common deductions: mortgage interest, property taxes, insurance, repairs, maintenance, property management fees, travel to properties, home office, professional fees, advertising, utilities (owner-paid).

Real-World Example

Often missed: property management SOFTWARE (yes, Mozongi REMA is tax deductible), vehicle expenses for property visits, phone costs for tenant calls, depreciation (the biggest non-cash deduction), legal fees, accounting fees, association dues. In Canada, the CRA also allows a portion of your home office if you manage properties from home.

The Bottom Line

Keep receipts for everything. A $50 plumbing call is a deduction. A $30/month software subscription is a deduction. Track these throughout the year, not just at tax time. Your future self will thank you.