Search results

*sigh* Fantastic...our accountant claimed 100% of the depreciation even though the property was rented out for only 3 months last financial year. Thanks

Hi all, Interested in knowing whether depreciation has to be claimed pro-rata. For example, If I were to have an IP rented out for the first 6 months of the year, and then moved back in, treating it as my PPOR, could I claim 100% of the on-paper depreciation value, or only 50% of it...

Hi Terry, Thanks for that, though I'm unsure what you mean by No 3. For example: If I had a $100k debt, with $10k in an offset account. I paid down the loan with that $10k leaving a debt of $90k. I then re-borrow that $10k for an IP, bringing my debt back to $100k, but now part of the...

Hi all, I'm looking at buying my first IP next year. I purchased my first PPOR in 2012 for $423,000 (around the median for the area) with a 20% deposit leaving a debt of $338,000. The median house price for the area has increased to $470,000. Assuming the house actually is valued at this...

Hi all, I plan to see an accountant as this is my first year owning an IP. I would however like to put together an overview of my income and expenses using e-tax 2014. Currently filling out the property income and expenses (Section 21) but I'm confused about the claiming of expenses...

Hi all, As a landlord, if you lease your property out to 3 adults whom are all on the lease agreement, are you required to provide 3 sets of keys? Or is it up to the Tennant to organise getting copies. Note: This is in Victoria. Thanks Sean

Is the owner leagally allowed to increase the rent if 6 months haven't passed? The fixed lease period will have finished, but it would have only been 5 months (moving in April).

My guess is that he just wants to increase the rent, but can't. Just don't understand why the property manager has told me it's for tax reasons...

Hi all, I've decided to rent a property myself near the city. Found a great place, and ready to sign the lease. The current tenants have to break their lease due to a need to head back overseas, and we are taking over. From what I understood, we were going to sign a 12 months lease. Got a...

Hi all, Up until now, I've been under the assumption that you should not cross colaterise your investment properties, as this would lead to the bank having access to all your properties in the event that you owe the bank more than what they can get for selling the security they hold. I'm...

Thanks for the helpful info! :)

Hi All, I'm currently living in the property that I plan to rent out with the help of a property manager in the coming weeks. I have a building and contents insurance policy with Youi. I've looked into getting landlord insurance with Terri Scheer. From what I understand though, this will...

Hi All, Is there any difference between an Interest Only Loan with a 100% offset account attached to it, and a Line of credit loan? Is one better than the other? From what I've ready they seem to do pretty much the same thing. Thanks Sean

Hi all, Looking at renting my house to my sister, and for that reason I've decided not to get a property manager. That being said, I'm not sure how much rent I can charge. Is there a valuation that can be done by an independant party? I understand a property manager would usually do this for...

Hi all, Looking at getting a depreciation schedule on a house built in the late 70's. There mayhave been some minor renovations to the kitchen and bathroom since construction. I've called up The depreciator and was told that it probably isn't worth getting someone out to conduct the...

Thanks for that. I take it this lease agreement form is suitable: http://www.consumer.vic.gov.au/library/forms/housing-and-accommodation/renting/residential-tenancy-agreement.pdf

Hi, At the start of the new year, I'm going to be renting out my PPOR to my sister. I'll be renting an apartment closer to the city. I wont be getting a property manager for this reason, but I'm unsure on the process of formalising all of this. The property will be negatively geared. I do...

Thanks. I suppose it's also 5% tax free (effectively). Sorry, one additional question to make sure I've got my cashflow estimates correctly. Are there any additional major expenses in renting a house outside of the following: Mortgage Interest Rates Building/Landlord Insurance Water...

Hi all, I recently purchased my first PPOR. Been living here for about 8 months now. The Mrs. and I would like to rent an apartment with friends in the city and rent out this property we currently live in. We have an Interest Only loan with a 100% offset account. What should we do with...

Hi all, I've recently purchased my first PPOR with my partner for $423,000. We paid with a 20% deposit and got an IO loan, parking all our cash in an offset. Together we bring in about 100k (after tax). We set up the loan as an IO structure, because we would like to buy a new PPOR in the...