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Helpful tips on investment property renovations
If you’re thinking about renovating your investment property, there are a few things you need to consider.

From creating a budget to picking the right fixtures and fittings, getting the administration and project management right is key. Here, we outline some of the main things to consider when you renovate an investment property.

Determine a budget and the available deductions

Renovating a property could result in some larger … Read the full post »

Accidental Damage V’s Normal Wear and Tear
Here’s a quick guide to the difference between accidental damage, malicious damage, deliberate damage and wear and tear.

A common query we often receive from Landlords is ‘what is accidental damage and how is this different to malicious damage, deliberate damage and/or wear and tear?’ From an insurance viewpoint, we define them as per below:

Accidental Damage
An unexpected or sudden loss. This is generally something that … Read the full post »

Not only does a garden give a home curb appeal and create a sense of tranquillity in a backyard or courtyard, but it can be another feature that attracts prospective tenants.

While a beautiful garden can attract quality tenants, you need to make sure the garden is easy for people who don’t have the greenest of thumbs. Ideally, green spaces and gardens at your rental property should be eye-catching, easy to … Read the full post »

A guide to when fixtures and fittings should be updated
Some of the things that start to show their age quickly in an investment property are fixtures and fittings. While some fixtures and fittings may need to be updated due to damage or a fault in the item, knowing when to update things in your home is important.

Keep your home in excellent condition before you need to make major updates. One … Read the full post »

When is the best time to increase rental return?
Rental return and when to increase is something landlords need to think about when the time comes to offer your current tenants a lease renewal.

While it can be tempting to increase the weekly rent for your tenants, there are market forces you need to consider when determining if it’s suitable to increase the rental price for your properties.

If you’ve recently had to … Read the full post »

The difference between Repair, Maintenance, and Capital Improvement
Unsure what the difference between repairs, maintenance and capital improvement are, with your investment property?

Repairs are considered work completed to fix damage or deterioration of a property, for example replacing part of a damaged fence.
Maintenance is considered work completed to prevent deterioration to a property, for example oiling a deck.

A Capital Improvement … Read the full post »

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 »