All homes will need upkeep from time-to-time. When routine inspections are performed, your property manager will identify any items which may need repair around your investment property. Your tenant may also occasionally report items for repair during their lease, which is to be viewed as a positive sign of open communication – there’s nothing worse…
Category: Property Management
Property investing is an excellent vehicle for building long term wealth. But you need to factor in the upfront and ongoing costs of being a landlord. Throughout the duration of holding each property, you need to have stable cash flow to cover your key expenses and the regular shortfall (if you’re negatively geared). In…
Please see below the REIV’s latest update in relation to landlord hardship and pre settlement inspections: Pre Settlement Inspections I am pleased to advise that Business Victoria has taken our feedback on-board and updated their advice regarding pre settlement inspections. The REIV Reference Guide has been updated to reflect this. “If the buyer is seeking to conduct a pre…
Following the Premiers announcement earlier in the week extending the State of Emergency in Victoria, the State Government has also moved to extend eviction moratorium laws. Please see the press release from Consumer Affairs Victoria below. Victorian eviction moratorium extended to 31 December 2020 The Victorian Government is extending eviction moratorium laws to provide greater…
According to CoreLogic’s Profile of the Australian Residential Property Investor, the value of people’s wealth held in real estate assets is worth more than superannuation funds and listed stocks. While the economy and property market are in an uncertain place, now is a better time than ever to review your investment strategy to ensure you’re…
We are still working under strict Stage 4 restrictions as outlined in the latest advice from the REIV as below. AWAITING CLARIFICATION We are receiving a number of questions regarding the services permitted during the 6-week lock down. Our discussions with government are continuing and we expect that there will be some revisions to the…
It is becoming increasingly common for landlords to allow tenants to have a pet in their property. There can be many advantages and opportunities of allowing pets on the tenancy agreement, but before you decide, make sure you consider the following pros and cons. Increase your chances of finding a tenant In recent years, the…
The effects of COVID-19 on the property market may take some time to be realised. Like everything else that’s affected, which is largely all parts of society, it can feel overwhelming to think about all the possible outcomes. This is why it’s particularly important in the current environment to focus on what you can do…
Property investment has come a long way from the days when a landlord managed his own property, door knocked for cash rent and did his own repairs. The key to successful property investment is to treat it as a business. This means emotionally detaching yourself from the property. This may mean ensuring you do not…
With the end of financial year just around the corner, now is the time to revisit the tax advantages of owning an investment property. This includes arranging to have a tax depreciation schedule completed on your investment property. Why is it important to have a tax depreciation schedule completed? The preparation of a tax depreciation…