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Success is achieved by an executed plan to prevent failure.



As tax time comes closer, spend this time leading to the July 1st preparing your investment property/s admin to not only get the best return available to you but also gain great insight to how to plan your next 12 months to benefit you further, financially.

As the end of the financial year is only weeks away, now is the as an investor to be putting in the time to catch up on your property admin. And with additional time at home (although, mostly busy with work and kids), the extra time you can now put aside instead of what would be a daily commute, can be more beneficial for you to get the best out of an accurate return.


Taking the time now to get the administration side of your investment property portfolio organised with extra time to follow up on any missing details, support documents or clarifications on the claim itself will help your tax time to go smoothly and help you make sure your investments are structured for long-term growth and success.


Below are the administrative tasks you can get on top of right now to get to EOFY feeling organised and on the track to also having a great overview of where your property investment is sitting from a level of performance, where the strengths are financially as well as where you need it to improve financially.

Review insurances

Tax time is a great opportunity to review your insurances on your properties. Yes, it's a painstaking task, but it can save you hundreds or thousands per annum. If one particular insurer is affected by a major event (like a bushfire) then they can increase premiums across the board, so checking your insurances is vital.

Review credit cards

As you are in the mode of reviewing, check over your credit cards. Take some time to check if there are any better deals out there for you, in both interest rates and loyalty programs such as frequent flyer programs or cashback offers – If you are spending money on maintenance/materials, may as well get some extra benefits if you qualify.

Review your property rental prices

This is usually a great time to review rents for the next financial year decisions to also include what you do with the next lease renewal – being prepared even months out from the lease renewal

A rent review is the first port of call to check.

Take a look over the rents you receive on your portfolio and compare them to rents available on the major real estate websites (realestate.com.au / domain.com.au). This will be especially important as the COVID-19 pandemic evolves and potential market effects make their way through the community. If you have tenants whose leases are due for renewal, make sure you get in early and be extra diligent about prices across your portfolio.

Review your property capital maintenance

Additionally, after checking your lease renewals, this can help understand cash flow for your next financial year and potentially plan any of those major maintenance items around the tenanted dates. You do not want to be paying for major maintenance work (House Painting, Bathroom Upgrades, Landscaping, Fencing etc) whilst the property is vacant if you can help it.

Review your loan interest rates

With rates as low as they currently are, evaluate whether having a fixed or variable rate loan is best for your situation. With many currently facing financial challenges, you should also evaluate your alternatives and put together your contingency plan if you may be unable to pay your mortgage, or if a tenant can't pay a portion or all of their rent.


Taking the time now to get the administration side of your investment property portfolio organised with extra time to follow up on any missing details, support documents or clarifications on the claim itself will help your tax time to go smoothly and help you make sure your investments are structured for long-term growth and success.

Before you make any changes to your insurances, finances or other costs associated with your investment property, make sure you seek personalised advice from a professional.

Remember, this article does not constitute financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.

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