Property Investor Newsletter Feb-March 2018
In this newsletter we cover important property management topics to keep you informed and maximising your rental income and optimising your capital growth.
Renting Your Property – Furnished Or Unfurnished?
Before you make any decision about renting out your property furnished or unfurnished – it is important to understand your Tenant demographic. A typical suburban house suitable for a family is very unlikely to benefit from being furnished – in fact, it might prove a distinct disadvantage. However, if you have an inner-city apartment, you might attract a corporate client who wants to have a property where they can relax, cook their own meals, etc. rather than staying in hotels for months at a time. Very high-end furnished properties could attract celebrity visitors (touring musicians/actors) or company executives on short term contracts. Alternatively – if your property is near a University, then a furnished apartment or house would be very desirable to overseas students or Tenants who have not yet managed to acquire their own goods...
A Reminder Not To Rush Into Any Insurance Policy
We are often faced with landlords who take out their own insurance to discover that excesses are high, important inclusions are not covered and there is fine print that can make a claim void.
As a landlord it is important to take out the most comprehensive insurance you can find to ensure that your asset is protected...
Fixed Term & Periodic Agreements And The Risk With Landlord Insurance
A fixed term agreement is one that has a start and end date.
A periodic tenancy has a start date but does not have an end date and can continue indefinitely. The landlord/agent can end the tenancy at any time (allowing for the correct notice) without having to wait for an expiry date. A periodic tenancy agreement may be beneficial if a landlord is considering selling or moving back into the home, as it allows for more flexibility in asking the tenant/s to vacate. However, this option can expose a landlord to a lack of security as the tenant can give notice at any time...
Hacking Scams Are On The Increase
Consumer advisors across the nation are warning everyone to be in alert mode of hacking scams targeting the email accounts of estate agents and businesses in general causing rental monies and home buyer deposits to be transferred to fraudulent accounts.
The emails often look legitimate (from a known company or client) and will request a change to the original bank details or be a follow up email...
New Depreciation Legislation Passed
The treasury laws amendment (Housing Tax Integrity) Bill 2017 passed through Parliament last year which means owners of second-hand residential properties will be ineligible to claim depreciation on certain assets.
The amendment to depreciation rules as detailed in the bill, mean that property investors can no longer claim depreciation for plant & equipment assets, such as air conditioning units, solar panels, or carpet, in second-hand residential properties (where contracts were exchanged after 7:30pm on the 9th May 2017)...
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WHAT’S YOUR PROPERTY WORTH? Call our experienced property consultants Rob Brown or Peter Bowden today on (07) 4153 3511 to arrange your free consultation and appraisal. Or request a call by emailing [email protected]
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