There are new temporary measures in place to support both tenants and landlords who have been Covid-impacted. These measures aim to prevent financially impacted residential tenants from being evicted, and to assist landlords who agree to renegotiate rent.
More details on the Residential Tenancy Support Package can be found here, and are summarised below:
60 day freeze on evictions: Eligible … Read the full post »
Tax Depreciation
Tax depreciation is a tax deduction claimed for the natural wear and tear of an income-producing building and its assets over time. It is generally the second biggest tax deduction for property investors, after interest.
Why Should You Claim?
Claiming tax depreciation reduces your taxable income, meaning you pay less tax. You may be eligible for thousands of dollars in depreciation deductions each year…. Read the full post »
Avoid these common mistakes and maximise your investment
There’s lots of things to remember when you’re a Property Investor. From interest rate changes to the ups and downs of property prices, it’s important you remember a few key things to maximise the value you get from your investment properties.
Not prioritising your debt
There are some types of debt you should pay off as quickly as possible, such as credit … Read the full post »
3 Handy Finance Hacks every Investor could use
Whether you have other investment holdings or solely rely on your investment property, understanding how to manage your finance is critical.
The key principle that underpins the effective management of your money, is making sure that once you’ve worked hard to earn your money, that you put it to work for you.
Here are three finance hacks … Read the full post »
Land tax is payable each year; the amount you pay is usually based on the value, type and its use at the end of a set period.
You may have to pay land tax if you own, or jointly own:
– vacant land, including rural land
– land where a house, residential unit or flat has been built
– a holiday home
– an investment property or properties
– company title units
– residential, … Read the full post »
Are budget properties a smart investment choice?
With the recent growth that occurred in many areas of Australia’s property market, a number of potential investors may have been priced out of the best investment markets.
But what if you could find a bargain property somewhere just outside these markets to grow your portfolio? Not only would a budget property potentially increase your chances of securing finance, but you could … Read the full post »
As we head into the last quarter of the financial year, we spotlight an area of taxation that is often overlooked when it comes to the deductions you make; depreciation. It’s very easy to do given it is a non-cash deduction. In the first financial year, on average, investors can expect to claim around $9,000 in depreciation deductions. Depreciation comes in two forms — capital works and plant and equipment … Read the full post »
Are tenants responsible for pest control?
Who is responsible for getting rid of pests in a rental property? This can be a common area of complaint from both landlords and tenants.
This is understandable because the guidelines for ‘who is responsible for getting rid of pests within a rental property’ is not so black and white. It depends on certain details in a scenario … Read the full post »
Securing strong rental yields from rental income should be the strategy of many property investors. Strengthening this further does not always have to wait until market conditions improve. Here are a few tips to consider:
Adding security
Ensuring that doors and windows have good key locks, and even adding a security alarm provides peace of mind and sense of wellbeing and safety. Tenants can also receive a discount on their tenant contents … Read the full post »
Need to landscape your investment property on a budget?
Recycled paving – buying products such as pavers or bricks from Marketplace and Gumtree is a great way to save some money on materials, otherwise you can find pavers in good condition from people simply changing their existing pavers. Just 10m2 is enough for an outdoor setting. Ideally a shade sail over the paved area will make the space … Read the full post »
Budget for success with your investment property
Budgeting does not solely apply to balancing the books of a company or a household budget, it is also essential to the successful financial planning when owning an investment property.
Intelligent property investors are very mindful they should prepare a budget to cover all contingencies throughout the lifetime of owning their investment property.
It is vital that careful … Read the full post »
While property managers make it clear to tenants that they must clean their leased property to a high standard before they vacate, condition reports do allow for inevitable wear and tear on a rental property after long leases and multiple tenants.
A property can appear to be scrupulously clean at first glance, but the natural ageing of high-use areas such as hallways, lounge … Read the full post »