There are so many factors involved with being a successful property investor, purchasing the right type of property, in the right area and at the right price; you can get all these factors right, but if you haven’t got the landlord aspect right, it’s never going to work. There are rules and regulations in place.
With the Federal Budget 2023-24 aiming to help Australians with the cost-of-living and easing pressure on low-income earners, here are some of the announcements affecting property investors, renters, and social housing. Increase in rent assistance The Commonwealth Rent Assistance’s (CRA) rates increase of 15% will benefit around 1.1 million households. Support for build-to-rent projects To.
With the Reserve Bank of Australia (RBA) opting to raise the cash rate by 25 basis points to 3.85 per cent, and financial institutions tightening up on lending criteria, some may be wondering whether to put their property investment plans on hold. But let’s not look at this current cycle entirely through the economic lens….
While a property doesn’t have to be in ‘perfect’ condition to be rented out (although ideally it should be to maximise rental income), all residential properties are required to meet required minimum standards to ensure they are ‘fit for habitation’; anything less, and the property cannot be rented out. Everyone has a right to live.
The ATO’s recent announcement about its data-matching program for the 2021-22 to 2025-26 financial years, aimed at capturing information about residential investment property loans is a timely reminder for all property investors to ensure their financial reporting is correct and in line with legislation. What is the data matching program? This property management data matching.
Whether you’re looking to buy a strata titled property as your own home or for an investment, it’s important to understand what strata is, how it works, and most importantly what costs are involved. Strata titled properties are generally apartments, townhouses and units, and these are usually referred to as ‘lots’. A strata scheme can.
Investing in property is exciting, especially for new investors. Like every financial venture, there are a few things you need to consider. Here are 8 tips to help set yourself up as an expert landlord from day one – and they will serve as a reminder for long-term landlords too. Know the Law From smoke.
When anyone moves into a property, it’s understandable they may want to make some changes more to their taste. Tenants can make changes but the key point is, they have to the landlord’s written consent, or if the tenancy agreement permits it. Here’s what you need to know about tenants wanting to make changes to.
While buying a property with a tenant in place may not be ideal if you are thinking of residing in the property, it may have some advantages if you are buying the property for investment purposes. For starters, you have a guaranteed income the moment you exchange, so you won’t be spending time or money.
According to the NSW Government, there are more than 1.2 million people in NSW living in buildings with strata schemes – this equates to approximately 1 in 7 people. Each strata scheme will have additional by-laws that all residents, including tenants, living in the strata scheme must follow. These are in place to make communal.
