Becoming a property investor can be one of the most rewarding financial decisions you’ll ever make.
Long-term property ownership is a wonderful way to build personal wealth and deliver you and your loved ones financial security.
The post-lockdown property boom that we’ve seen across the country – and in our area, too – serves as a great reminder of the benefits of a property portfolio.
This is an opportune time to consider beginning or expanding your property portfolio as houses command premium rental prices while apartments offer comparatively good value in this buoyant market.
As long-term local agents, there is a lot of interest from sellers wishing to cash out and there is a steady supply of units coming on to the market. So, there are many opportunities to begin your journey as a landlord or expand your portfolio.
It’s important that every investor is acquainted with the financial side of being a landlord, including understanding the principles of negative gearing, capitalisation, depreciation and what can be claimed as expenses at the end of a financial year.
Always use a professional financial adviser to maximise or get advice from your accountant about the available tax opportunities afforded to landlords, and any additional benefits the government has on offer to stimulate the economy. This can help you avoid the risk of an unexpected bill from the Australian Tax Office – and no one wants that!
A second professional partnership – this time with a property manager – takes away the day-to-day workload of being a landlord and protect you from any strenuous relationship that can often exist with tenants.
Our property management team will take care of repairs and maintenance and keep all records of your expenses. That’s so helpful at tax time because it saves you digging through boxes of receipts.
A good property manager is also skilled in finding dependable and trustworthy tenants and maintaining good relationships. They will also be a fair judge of whether a requested repair is warranted and a reasonable price for the work.
When a renter leaves, our agency’s property managers are primed to find a new tenant and use their market knowledge to set the rent at a market-competitive level.
If you’d like to know more about investing in property or seeking to expand your portfolio, please do not hesitate to contact us.