Some of the main types of expenses you can claim on your investment property include management costs, maintenance costs, borrowing expenses and depreciation.
Management & maintenance costs include:
· Bank fees/loan charges
· Body corporate fees
· Cleaning costs
· Council rates
· Utilities not paid by the tenant
· Landlord insurance
· Legal expenses
· Land tax
· RealRenta subscription fees/management costs
· Repairs and maintenance
· Travel and car expenses ( only for rent
collection and expenses)
· Costs incurred for inspection & maintenance
Borrowing expenses include the interest on your investment
loan but not the principal amount to be paid.
Other fees include:
· Loan establishment fees
· Lenders mortgage insurance if applicable
· Title search fees
· Mortgage broker fees if applicable
· Stamp duty
*Depreciation losses on new items ( blinds, carpets,
furniture, water systems etc) can also be claimed.
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Tuesday, 21 January 2020