Managing your investment property in the ACT
If you have plans to buy an investment property or you own a home or apartment to rent out to tenants then Reliance Residential can be your trustworthy property manager. A property manager will watch over your property and ensure that it is clean and well looked after. It handles complaints and feedback from tenants. Our experienced team can help you guide what tenants are looking for when seeking a property to lease. If you are a first time investor, then knowing where to start and what to look for to make correct decisions is important. An experienced property manager keeps you updated about the latest in your suburb and neighbourhood developments.
Two types of property investment in Australian Capital Territory
Positive Cashflow Property
Positive Cash Flow Property is an investment property where the annual rent exceeds the total annual expenses, after tax deductions and depreciation are taken into account. This will generate surplus cash flow for you pre-tax. This is a type of investment property that “pays you” to own it.
Negative Cashflow Property
A Negative Cashflow Property or negatively geared property is a property investment strategy where the loan interest cost and other expenses associated with holding a property exceed the rental income, thus producing a shortfall in cash flow. Negatively geared property can offer a number of tax benefits in the form of tax deductions and is popular among investors.
What are the costs involved in Property Investing ?
The costs of property investing may include : Purchase cost, Loan establishment fee, Mortgage Insurance, Appliances, Utility connections, Stamp duty, Conveyancing fee, Legal fee, Interest on the loan, Building and Landlord insurance, Strata fee, Land tax, Council Rates, Property management fee, Repair or maintenance costs, Accountant fee.
Ways to add value to your investment property
The following are some ways to add value to your investment property :
- Buy in a growth area with strong rental demand
- Transform your property with a coat of paint
- Update your kitchen in terms of cabinetry, surfaces and accessories
- Add features like dishwasher, laundry facilities, new curtains and blinds
- Install ducted heating and air-conditioning
- An outdoor entertaining area
- Solar panels to reduce electricity bills
Benefits of Reliance Residential Property Management
Now that you’re the proud owner of a property, it's time to decide whether you are going to manage the property on your own or consider employing a property management agency. A good property manager or property management agency can take the stress and hassle out of the day-to-day management of a rental property and help you save precious amount of time and money and make owning a rental property more rewarding. The benefits of property manager include : Setting the rent, Collecting the rent, Prepare the tenancy agreement, Advertising your property for rent, Find good tenants, Handle any repair or maintenance requests, Conducting routine inspections, Stay up-to-date with current tenancy laws, handle complaints from tenants, deal with any issues the landlord may have with the tenants.
Looking for a Property Manager ?
We can be your skilled partner to take care of your property and your tenants