What does a property manager look for in a tenant? Many people have at some stage leased a property. You may have had an application miss out to another tenant or perhaps been declined. Successful investors leasing property know that a Property Manager does there due diligence to source the best tenant available. Melbourne vacancy rates remain low as the population growth increases. It’s not uncommon...
There has been a consistent take-up of Airbnb. The trend continues with the idea that this new leasing agreement can generate a higher rental income stream. If its to rent out a room or the entire home, many have been enthusiastic to learn more about it. The yields can certainly be higher, but let us share some great data researched by 'The Conversation'. Taking note of the research conducted by 'The...
What is Tax Depreciation? Tax depreciation expenses are not actual cash expenses. They are known as a non-cash entry. They are charges used to recover an asset's earlier purchase. To claim tax deductions, an investor can apply for any non-cash depreciation expenses against their taxable income. An investment property is an asset that can receive tax depreciation. This can be used to lowering the amount of...
Would you accept your tenant with a pet? Let's be honest... Australians and Melbourne love animals and pets. Who doesn't love being greeted by their puppy dog after a hard day at work? Who doesn't love hugging their bunny rabbit or patting their cat while relaxing on the couch? The decision to allow pets into your investment property is important – and when you start thinking about dog hair, possible...
Buying an investment property is a great wealth accumulation strategy. To have the opportunity to earn a regular income stream through monthly rent is a great incentive. However, how do you attract a good tenant for your investment property? Generating a regular rental income is quite important and should be a key criteria when buying an investment property. It can help service your investment loan,...
One of the reasons investors turn to buying real estate is the fact it provides such a great income stream. Here we discuss how to stop late rent payments. Having the ability to generate a weekly rental income paid monthly has been one of the key drivers to buying an investment property. The better your tenant, the better your investment experience. If we hold the property long enough, we are often...
Sourcing a good tenant can be challenging. Particularly if you've bought an investment property in the outer Melbourne suburbs or rural country locations. When you successfully find one, you expect that those applicants will be living in your property. There’s a growing trend at the moment for rental properties to be sub-leased illegally through services like Airbnb. It is critical that you employ a...
According to new research conducted by rent.com.au, it's anticipated that Australia’s average renter this year is a 34 year old female earning approximately $66,000 p.a. and processes approximately five inquiries to sourcing a home. The property type and areas were not a collected in this study. Research also confirmed that 68.4% of tenants were employed, while 21.9% were in-between jobs. In...
You must ensure your investment property is compliant with the current regulations. Each state in Australia differs. As we are domiciled in Melbourne, Victoria, this is a quick snapshot to ensure your aware of the Victorian requirements around smoke alarms. Landlords Responsibility: Smoke alarms must be installed in all Victorian homes, units, flats and townhouses. Landlords are responsible for...
Buying an investment property is a wonderful achievement and an excellent asset you could own. It is likely among the most expensive assets you will ever own. For this reason, it is important to protect it. Landlord cover is one was to do this. It is very common for a landlord to rely on it generating a regular income stream through monthly rent. Therefore investors need to acknowledge the importance of...