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 plan on seeing an accountant in the coming weeks, but interested if anyone has information on this? Do I get a lease agreement signed up? How should I go about tracking rental payments for tax purposes etc.
First investment property, so don't really have a clue on this.
Thanks
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 plan on seeing an accountant in the coming weeks, but interested if anyone has information on this? Do I get a lease agreement signed up? How should I go about tracking rental payments for tax purposes etc.
First investment property, so don't really have a clue on this.
Thanks