When leasing a property most would recognise it as the biggest expense in your budget. What ways can you pay rent? If you are unable to cover your monthly rent, the landlord can issue a notice to vacate. In this article we outline what ways you can pay your rent which may best suit your circumstances. Direct Debit: The most common preferred payment for a property manager is an automatic transaction. The...
When we buy a new home we spend a lot of time in the kitchen. How we have grown to love kitchens. If it’s cooking, cleaning or even entertaining. This is where a common question arises. Benchtops - stone versus laminate. Is it better to include stone or laminated bench tops? There isn’t necessary a right or wrong answer but here are some differences you may want to take note before your next...
Renting your property on a short term lease. One popular benefit of investing in property is the control and flexibility of owning the asset. There are many types of rental agreements available and they are suited to different investors. Some investors may want a short-term or long-term lease, depending on their circumstances and objectives. In this article we highlight some points to consider when...
Tax depreciation is a valuable tax deduction for property investors. The benefits of a depreciation schedule can also be long lasting. As a result it can provide great assistance to accumulating your wealth and property portfolio over time. What is a tax depreciation schedule? A tax depreciation schedule tables you tax deduction entitlements and outlines the breakdown on an annual basis. It simplifies your...
Tax office warns investors. During 2019 the Australian Taxation Office (ATO) identified a large number of deductions claimed by property investors including errors. This has the ATO increasing their auditing of property investors. During the 2017-18 financial year about 1,500 were audited, while this increased to 4,500 in the 2018-19 financial year. Tax office warns investors Here are the most...
Renting a furnished investment property longer term (i.e. 1 year or more) doesn’t really attract a tenant any faster or offer a greater rent as apposed to a short term lease. In this situation you may be over spending. A longer term tenant may already be well equipped with their own personal belongings and contents. In a summary here are the differences between a furnished investment property and...
Replacing yourself as property manager. Maintaining an investment property can be quite expensive. In order to make it as profitable as possible it’s ideal to review areas where you can save or improve your cash flow. One of the areas many investors look to consider saving is replacing yourself as property manager. As property advisers/buyers advocates, we understand why a landlord would consider it....
Don’t set and forget – always ensure your insurance is up to date. When buying a property it’s important to ensure your asset is insured against any unforeseen events. It’s likely to be the most expensive asset you buy. We’ve noticed overtime investors review their property portfolio performance but neglect to review their insurance. Insurance cover provides a vast range of unforeseen...
Having a good tenant makes investing property so much better. However, even good tenants encounter financial loss and this will have a direct flow in effect to the landlord. On the other hand a bad tenant can cause significant problems to a landlord in more ways than one. Here are some ideas to help minimise rent in arrears: Upfront background checks When your property manager contacts you to present a...
There is nothing worse than experiencing the loss of a life. If you know the person or not, nothing is more precious than life. However in this article we take a look at the financial perspective of a landlord’s interest in the event their tenant passes away. It’s the last thing any landlord wants to think about, but if you are investing in property for the long term, there is a possibility that a...