If you have
purchased an investment property this year, you will need to advise your
accountant of the expenses associated with the purchase.
It is a good idea to provide your accountant
with a copy of the contract of sale, so that they can make sure that no
deductions have been overlooked.
Here is a checklist of all expenses associated
with your investment property and will need to be included in your summary of expenses:
•Stamp duty
•Government fees ( transfer, mortgage registration)
•Pest, building & strata inspections
•Conveyancing fees
•Bank cheque fees
•Loan expenses
•Penalty interest (if applies)
•Property Management Fees (slash these by using
RealRenta)
•Letting fees
•Tribunal expenses
•Postage, handling & sundries
•Council rates
•Water rates
•Body corporate & strata levies
•Land tax
•Interest
•Annual & monthly loan fees
•Loan set up fees
•Application, valuation, settlement &
documentation fees
•Lenders Mortgage Insurance if applicable
•Brokerage fees if applicable
•Repairs
•Renovations
•Construction costs
•Development Application, architect fees if
developing
•Surveys and compliance certificates if developing
•Gardening
•Cleaning
•Pest control
•Building insurance
•Landlords Insurance
•Depreciation schedule
•Stationery and telephone costs
•Travelling costs if applicable
•Legal fees
RealRenta is disrupting the Real Estate industry
with our Self Management platform.
RealRenta is for Smart Investors, who realise that
they are no longer bound to traditional property management and the associated
high fees.
Not yet a
subscriber? Join now and get 50% off the normal subscription fees:
https://mailchi.mp/realrenta/50-deal-2020
Jason Gwerder
Wednesday, 20 May 2020
