Behind the scenes: What happens at a Routine Inspection
What are property managers actually looking for?
Using a property manager is a smart move if you own an investment property and don’t have time to handle tenant queries, chase down payments or ensure the home is in good shape yourself.
One of the most important tasks property managers take care of is rental inspections. Here’s what an inspection involves:
Conditions … 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 »
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 »