Who here self manages their investment property to save on agent fees?
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ha ha ha tee hee hee LOL
$25/Month
??????
Agents usually charge 5.5-7.7% of the weekly rent.
Disclaimer: A bad PM will bring you bad tenants and even more stress, so choose carefully.
I do have Landlord's insurance of course.
I didnt think you could get LI if self managing? It used to be like that some years ago but maybe its changed now days.
I didnt think you could get LI if self managing? It used to be like that some years ago but maybe its changed now days.
Who here self manages their investment property to save on agent fees?
We've never had trouble getting landlord insurance.
We've never had trouble getting landlord insurance.
Just a question regarding this self managed IP.
Friend is thinking of self managing his IP. Renting out a room, 5 rooms in total say $120 each room.
1.)Does he need to fill up a spreadsheet for the rent received to be shown to his accountant come EOFY?
2.)If only declares that he is receiving rent from 4 rooms only ($480) but actually getting $600, and in effect, making this a negatively geared property to get the tax deductions. Is this a viable option?
Cheers
2.)If only declares that he is receiving rent from 4 rooms only ($480) but actually getting $600, and in effect, making this a negatively geared property to get the tax deductions. Is this a viable option?
Cheers
As long as he doesn't mind risking jail time .
Why would you do this? That's just dumb!
Not having a crack at you (unless you're the 'friend', and even then not really), but the minimal benefit has significant consequences.