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The tax deductions you can, and can’t, claim for your rental property

The tax deductions you can, and can’t, claim for your rental property

Everyone dreads tax time, but if you own a rental property then it’s actually one of the most advantageous times of the year. It’s when you can actually start putting all the money you’ve put into your property to work.

Some property owners end up missing out on crucial savings because they haven’t put in the effort to keep their documents or receipts, or they just don’t bother.

That’s a big mistake! Read More

Interest rates are on the rise…but should landlords raise the rent?

Interest rates are on the rise...but should landlords raise the rent?

Seen the news lately? Interest rates might be going up.

Financial markets went crazy after the Reserve Bank said its members had a chat about whether rates are too low. Other nations – like the USA, the EU and Canada – have been raising their rates, and federal banks all over the world tend to both raise and lower their rates in tandem. Read More

How tenants can request maintenance and get results

How tenants can request maintenance and get results

Renters are living in fear…at least when it comes to maintenance.

Back in February, a survey conducted by the National Association of Tenants’ Organisations, National Shelter and Choice, found that half of 1,000 renters said they’re worried that a repair request or complaint could get them blacklisted on the National Tenancy Database.

Here’s the shocking part – 14% of tenants decided not to request maintenance at all because they didn’t want to risk being charged more.

Isn’t that sad?

What’s even sadder is that they’re believing a lie. Read More

How many coffees can buy you a house?

How many coffees can buy you a house?

When it comes to affording property, it’s clearly true that the Australian property market is enjoying some higher than usual prices. Unfortunately, that’s led to some bickering about how people – particularly younger people – can get into the market.

One of the key suggestions is to save on coffee. But is that really going to get people into the market?

We enjoyed this post on Beanhunter about whether saving some cash on takeaway coffee would get you into the market, so here it is today as a guest post. Enjoy! Read More

Changing locks in rental properties…what do you need to know?

Changing locks in rental properties...what do you need to know?

Nearly everyone knows the feeling of being given a set of keys to a property. It’s a great feeling – one of security and comfort.

But that feeling of security might be a bit of an illusion. Right now, landlords aren’t required to change locks between tenants. That means there could easily be copies of keys floating around, giving people easy, unauthorised access to your property. Without a trace.

There isn’t a law that requires locks to be changed. But should there be?

I’ll tell you what I think needs to happen a little further down – but for now, it’s good to know what a landlord’s (and tenant’s) responsibilities are today.

This topic can be confusing, and it differs from state-to-state, so we’ve pulled together all the different rules regarding locks and keys. Read More

Gas heaters and fireplace repair and maintenance: the tenant’s responsibility, or the landlord’s?

Gas heaters and fireplace repair and maintenance: the tenant’s responsibility, or the landlord’s?

If you’re renting a property with a gas heater or a fireplace, who’s in charge of actually maintaining and cleaning those pieces of equipment?

It’s a topic definitely worth addressing. Back in 2013, a Victorian coroner warned that landlords should check their gas heaters every two years after two children died in a tragic gas leak incident.

As it turns out, the laws in this area aren’t so simple.

Like many tenancy laws the rules differ from state to state, and it can be confusing to figure out what exactly your responsibilities as a landlord – or tenant – are.

Read More

11 ways to increase the rental yield of your investment property

11 ways to increase the rental yield of your investment property

Looking for ways to increase the rental yield of your investment property?

Thankfully, it doesn’t have to cost a fortune.

Sure, renovating is the go-to option. But there are plenty more, including making some changes in the way your property is actually marketed and advertised.

One of the things you should keep in mind when sprucing up your property is that many tenants want their rental to feel like a home. The more you can do to give your place that type of quality, the more likely you’ll be able to find tenants at a higher rent.

Here are 11 methods you can use to give your property some juice.

Read More

Landlord insurance: what you need to know about this crucial purchase

Landlord insurance: what you need to know about this crucial purchase

As a landlord, you may think that a typical building or contents insurance policy will cover you should anything go wrong with your property.

You’d be wrong.

That’s why landlord insurance exists. Along with typical building insurance policies that cover you for fire or theft, landlord insurance will often cover the following circumstances: Read More

What tenants need to know before their next rental inspection

What tenants need to know before their next rental inspection

As a tenant, you may not know something: your landlord doesn’t actually want to kick you out.

When it comes to inspections, many tenants feel as though if they do one thing wrong they’ll be out on the street. And while some landlords may be stricter than others, they also want a steady tenant. It’s in their best interests to keep you around.

Read More

Smoke alarms: everything a landlord needs to know

Smoke alarms: everything a landlord needs to know

You might assume a smoke alarm is a basic piece of equipment that everyone should have. But think again – plenty of people neglect to have them installed.

For landlords, the consequences of not having a smoke alarm are disastrous.

And in many states, you could be fined thousands of dollars for not having smoke alarms installed. In some it’s even a criminal offence. Read More