Which SIC Code Should I Use for Rent to Rent ❓❓❓❓❓#R2Rshortandsweet #32
What SIC code should I use for rent to rent?
A handy tip when setting up your business
Hello!
It's always great to be with you and here is a Short & Sweet video based on a great question from Darren about setting up a company and which SIC code you need to use.
Darren asked,
“What SIC code are you guys using or should I be using for a rent to rent business? I'm confused if I should use 68209 which is letting and operating of an owned or leased real estate or 68320 which is management of real estate on a fee or contract basis. I know it's a question that should be answered by an accountant, but I was just curious as to what everyone is doing.”
If you are looking to set up your business – do you know what you need to do and what a SIC code is?
When you're setting up a limited company, you need to let the tax man know what kind of business your limited company will be operating, and we do that through SIC codes.
The SIC codes are provided to us and we can choose which one to use. We use 68209 which is letting and operating an owned or leased real estate.
Now while you can use either of the SIC codes, we prefer to use 68209 because as well as managing a leased real estate (as they call it on a contract basis), that also gave us flexibility to manage our own properties as well – which is something we are doing.
Now that’s a really short and sweet one, but if you want an overview of how to get your rent to rent business set up, take a look at the links below.
If you want to work with us side by side, hand in hand find out more and apply for the Rent 2 Rent Kickstarter coaching program.
Take care and speak soon,
Stephanie & Nicky
xx
#R2Rshortandsweet #R2R #rent2rent #renttorent #rent2rentsuccess #yesyoucan
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