I inherited some property in Poland and need to figure out how to manage it.
Does anyone own and rent real estate in Poland while living in US?
What forms do you need to fill out?
How do you manage the property from US (pay bills, collect rent, etc)?
Any input or pitfalls I should watch out for would be greatly appreciated.
Hi, you have to find property manager or some like this. He will manage your property and send you reports. Of course he will pay taxes, bills on your behalf and so on. We have a lot of foraigner clients who manage properties in this way.
Main pitfalls you will find are going to be making it a tax efficient investment that doesnt draw attention either side of the pond. Youll want to do things legally so you'll need tax advise both sides of the pond and then you will have an idea of the taxes you will pay, and so, the net yield.