Has Your Property Survived The Pandemic?
Have you done a property healthy check? As it comes close to end of the financial year and we are in the middle of a pandemic, there is no better time than NOW to check and ensure that your investment property is performing at its very best.
Here are three vital checks to accomplish in order to achieve success of your real estate investments and for investors to get the most out of their investments.
Why now is a great time to review your mortgage
– Courtesy of Nectar Mortgages Northern Beaches
After months of falling interest rates, some major lenders have begun to increase their lowest fixed-rate offerings, meaning it’s very possible that other lenders will follow suit. The team at Nectar Mortgages Northern Beaches have been speaking to their clients with variable rates and many of them have preferred to act now to lock in what are still very low rates, rather than speculate on further drops.
There are currently some great opportunities in the lending market to reduce your repayments and save yourself some cash. Depending on your financial situation, the Nectar team may be able to help you in a number of ways, including speaking to your current lender on your behalf to request a lower rate, refinancing your loan with an alternative lender or consolidating debts into one easy repayment. If you are experiencing financial hardship, they can also provide unbiased advice on switching your loan to interest-only, or applying for repayment holidays.
As an investor, how can you ensure your investment property is performing to it’s maximum capacity? A simple loan review should be completed. A big part of this is making sure the loan repayments are as low as they potentially can be. Exploring the right options could be the difference between deciding to keep an investment property and needing to sell it or having the capacity to potentially afford a new one.
Get in touch with Mark Wells at Nectar Mortgages Northern Beaches team on 0432 213 780 or mark.wells@nectarmortgages.com.au –
As time changes, so does the value of your property
The aim of an investment property is to gain yield and capital growth. Traditionally property value increases over time, yet is best to monitor the market and get regular rental appraisals. After all, the market has its ups and downs, and especially right now it is important to know where your property sits in the current market.
At Schwarz, we market our rental properties to the highest standards to ensure we are getting the best yield for our landlords. While we are realistic, we never underestimate the value of the properties we manage. That means you can feel confident you’ll get optimum rental returns now and in the long run.
If you would like to review your rent, or thinking about switching to Schwarz, feel free to give Domenic Coniglio at Schwarz Real Estate a call 0423 142 222.
How a depreciation schedule can save you thousands
A BMT Tax Deprecation Schedule is a report that outlines the depreciation of the buildings structure and fittings internally and externally. This includes items such as; foundation, walls, roof, building doors, windows, cupboards, toilet, sink etc. By getting a report the ATO can recognize that your property will deteriorate and likely need repairs and maintenance work done, for you to continue to produce a taxable income.
Any improvements or replacements to the fixtures of your investment property will be reflected on your depreciation schedule. Maximize your cash return and save thousands by getting your BMT!
To get a BMT Tax Guide head to https://www.bmtqs.com.au/tax-depreciation-schedule
