5 Questions to Ask your Potential Property Managers (or Risk Choosing the Wrong One)

questions to ask your prospective property managers

Choosing the right property manager for your rental property isn’t a decision you should make lightly. It’s going to be a long, professional relationship and you are trusting them to make your investment secure.

If you’re new to the rental game, here are a few questions beyond price and experience that you should ask potential property managers: [Read more…]

Are Short Term Rentals the Way to go for your Investment Property?

short term investment property rentals

Short-term rentals have become a hot commodity for landlords/property managers, but are they the way for all?

Let’s take a look at the benefits, disadvantages and legal implications of renting out properties under a short-term contract: [Read more…]

Is Renting to Family or Friends Wise?

renting to family or friends

You

Are You Conducting Tenant Reference Checks on Facebook?

facebook icon

Potential employers check reference on Facebook. So should you give it a try, in your capacity as a landlord?

Ten years ago the public domain was limited to newspapers and various other disconnected mediums that granted no real insight into an individual.

Myspace was one of the first to start the movement that is now known as social networking, however those that frequented myspace weren

Rental Bond Refund: What is the Process?

In theory, it

Property Management Throughout Sydney is Possible

Many people assume that to manage a property your agent must be a local. Certainly, it can help but it is far from essential. [Read more…]

Performance checklist for your property manager

As a landlord, hiring a property manager to handle your investment property is a smart way to save money and avoid hefty mistakes. On the other hand, you need to have peace of mind about getting the service you have paid for and deserve. [Read more…]

ATO Identifies Claims for Tax Deductions By Property Owners

The ATO has identified certain claims for tax deductions made by property owners, that are areas of concern when claims can be incorrectly made, and in particular the following big four.

Interest

Interest that relates to a rental property that is rented or available for rent is tax deductible. It is irrelevant what security is used for the loan. The ATO is concerned that claims are being made for all of the interest on loans where only part of the loan relates to the rental property or that the loan does not relate to the rental property at all. The question to ask is: Why was the borrowing incurred?. If the answer is: To buy an income producing asset, the interest should be tax deductible. Please note that interest may also be deductible when a property is being renovated with the view to its being rented. Interest may also continue to be deductible after the tenancy has finished.

Depreciation

Real Estate Investments & Tax Time

We are now completing another tax year, it is time once again to think about the preparation of your annual taxation.

The following schedule identifies the types of costs that are typical tax deductions for residential investment property owners:

  • Interest on loans to purchase the property, plus interest on loans to undertake repairs, renovations or renovations to investment property. Please note that the ATO has once again flagged interest deductions as an area of interest and therefore the ATO has communicated that interest deductions may be subject to audit.
  • Agent

Finally, a place to vent!

I want to thank Lyn from KGHurst Real Estate for allowing me to tell you how I see the real estate game!

I don’t work in the industry . . . why would I want to?

I have a wife and a child.

I own property that I share with my bank like most Aussies and hemorrhage on the first Tuesday of every month when Glenn Stevens from the RBA says they are lifting interest rates.

I have an investment property that I will use to help pay for my daughter’s education.

I am a small businessman.

I am just like you in so many ways!

Except, you can only vent about your dislike, distrust and discontent with the real estate industry, the RBA, the media and the neighbour that sold his house for $100K less than what you paid for yours, to your mates at the pub or the men and women around the water cooler.

Lyn has given me open slather to share my thoughts as part of her blog. And don’t worry I won’t hold back – I rarely do. I am going to tell you the way I see things.

I think I will remain anonymous at the moment. I just haven’t come up with an alias just yet. Maybe you can help?

Wait until I write a few blogs and then lets see what you think.