If your rental is badly damaged and becomes uninhabitable, you may need to relocate your tenants. But who covers the relocation costs?
When you consider all the expenses involved in owning your investment property, tax benefits don’t just include immediate tax deductions.
I’ve highlighted what you can claim on an investment property – but what about the costs that are not tax-deductible?
Utility fees, Pest control, Repairs & maintenance, Some legal costs, and Capital gains
Property management fees, Depreciation, Negative gearing, and Land tax
What kinds of expenses can you claim when you own an investment property?
The majority of the costs associated with owning a rental property can be deducted against your regular income tax bill, which reduces the amount of tax you pay overall.
Ideally, you want the next tenants to move in the day your property is available to avoid any loss of income
Rental demand doesn’t look likely to ease any time soon, particularly with our borders reopening and international students returning, filling the once vacant CBD apartments.
It all started in 2017 when APRA restricted funding to investors, meaning the number of investors providing rental accommodation decreased