Welcome to Haven Agents, where we take pride in offering top-notch property management services for your valuable investment property. Our dedicated team of experts is passionate about assisting Residential Rental Providers like you in maximising returns on your investment while ensuring renter satisfaction.
At Haven Agents, we have the privilege of serving a diverse range of investors, from individual property owners to those with extensive portfolios spanning both residential and commercial properties. Regardless of the size or complexity of your portfolio, we provide the same level of expertise, personalised service, and unwavering commitment to all our Rental Providers.
When you choose Haven Agents, you can rest assured that your investment will be personally looked after by a Director who is deeply ingrained in the business. Our close-knit team is dedicated to catering to every aspect of your Property Management needs, as we genuinely care about ensuring client satisfaction.
Selecting the right property management company from the start is crucial, and at Haven Agents, we understand that. That’s why we provide complete clarity on our processes, the services we offer, and the associated expenses through our comprehensive property investment plan. We want you to be fully prepared and equipped with the necessary information to make an informed choice.
We are eagerly looking forward to speaking with you further and working together to exceed your property management expectations.
Our small and close-knit team previously worked together at one of Melbourne’s largest and oldest Real Estate office networks for 12 + years. During this time we all garnered experience and progressed through to senior positions. This progression and leadership role required exemplary communication & relationship building skills with Renters & Rental Providers alike, knowledge of the local area and experience in maximizing rental returns for our clients.
There came a point where working for a larger Agency no longer allowed us to provide the level of service and creative control necessary to deliver a boutique service to our clients.
Our days are primarily spent meeting new clients, listing & leasing new rental properties, and ensuring all Property Management tasks are met to the highest of standards.
We take great pride on excellent communication to achieve the best results. Continuing to be up to date with the knowledge required in the industry due to the frequent change in the legislation and requirements to maintain compliance. This allows our team to effectively impart this information to our Rental Providers to be armed with all necessary information to arrive at the most educated decision for protecting and maximizing their investments, whether it be thorough routine inspections, reporting and troubleshooting maintenance, rental arrears, open for inspections, rental increases or ongoing maintenance issues that arise. We are there to guide and support all parties through any circumstances that may arise and provide guidance based on our collective past experiences.
Our unwavering goal is to provide you with the most thorough, professional management of your rental property.
Rachel Thompson 0438 559 895
Jodi Sherr 0413 483 322
Daniel Henderson 0417 892 403
OUR MANAGEMENT OF THE LEASING PROCESS
We want the lease and property management processes to be an exciting and fun experience. Once you’ve decided to progress with leasing your property, the process can often move quickly. By taking care of everything for you, we will ensure the process is clear and as simple as possible. We keep you updated throughout the leasing process, allowing you to make informed decisions with confidence.
We provide you with prompt feedback as we are aware you’ll be eagerly awaiting the inspection results, including:
• How many potential Renters attended
• Potential Renter feedback on the property
• A brief description of the potential Renter
• Interest level on potentially submitting an application
REGULAR UPDATES & COMMUNICATION
To ensure you are well informed, to discuss progress, strategy, and applications, we’ll be in touch with you throughout the leasing process. We offer thorough feedback that takes into account prospective applicants, renter numbers, price adjustments, marketing campaign status, and all renter comments.
Initial Briefing & Prepare to Lease
After having the opportunity to meet with you and inspect the property, Our expert Team will undertake an assessment of all aspects that may affect the Leasing Process.
This may include suggestions and advice on:
Pricing Analysis
We will guide you to determine the best market rent rate that the property should be positioned. This important aspect is a considered approach that will ensure your property receives the most enquiries and the highest calibre of tenants. We put all of our expertise, effort and resources into guiding you as the owner on how to maximize rent whilst at the same time, securing a quality tenant in the shortest time possible.
Our ever-growing database of potential Renters provides access to exclusive opportunities, offer more targeted searches, reduce competition, and potentially lead to better results.
Before publishing the advertisement on the websites, we will first make a draft for you to review & confirm and then list through the “Early Bird” Database to capture anyone interested in viewing prior to going live on all Websites.
This can give you a competitive edge that are not available to the general public.
Since off-market listings are not widely advertised, there is often greater competition within a smaller pool of Renters which drives a sense of urgency and exclusivity.
We utilise the latest technology available with Inspect Real Estate to assist and effortlessly manage the inspection process.
The online booking system is a way for Potential Renter to schedule a viewing of a property at a specific date and time of their choosing (should the property be vacant) through an online booking system. This system allows us to manage the viewing schedule efficiently and to ensure that all parties have an opportunity to view the property at a convenient time. The online booking process typically involves the following steps:
If the Property is occupied either by yourself or by a Renter, we endeavour to arrange Two inspections per week. These typically occur on Saturday and during a weekday evening when most people are available. This allows potential Renters the option of mid-week or weekend inspections given the limited access with the property being occupied.
Scheduled inspections with multiple groups attending can also create a sense of urgency, as multiple parties may be viewing the property at the same time and the “fear of missing out” sets in.
Following each inspection, you will receive a full report on attendance numbers, level of interest, potential applications expected and any comments regarding the property (for example if the lawn needs to be mown or repairs/improvements are required).
Especially when a property is vacant, to ensure quick and ready inspections are possible by any one of our dedicated team, we install a secure lockbox at the property to house keys for access safely onsite. We ensure access is restricted to only those within the Haven Agents team.
These tools help streamline the viewing process, make it more convenient for all parties involved, and increase the likelihood of a successfully leasing the property in the shortest time possible.
Quality tenant selection is the most crucial part of the leasing process as if not undertaken correctly, it can significantly impact the success of the rental property.
Haven Agents are committed to finding the right Renter for your property and implement the following steps upon receiving an application:
Verification of Identity: Ensure government-issued identification to confirm their identity, current address and/or Visa status.
Employment Verification: Ensure current and where possible, previous, employment contacts and references to verify their employment status, salary, and length of employment. This is done to ensure that the Renter has a stable source of income to pay rent in addition to how they are as a person to work with/for.
Rental History Verification: Ensure current and previous Rental History is available to verify their rental history. This includes confirming the dates of current & previous tenancy, the rental amount paid, and any issues with the tenant’s behaviour or payment history. It is also vital to be informed of how the Renters maintain a home and if any damages or issues have arisen throughout a current or past tenancy.
Tenancy Database Verification (OPTIONAL): A National Tenancy Database (NTD) check is available to be performed if requested by the Rental Provider. This check incurs a fee of $22.00 including GST and will provide information such as:
The rental application checking process is an essential step in the Renter screening process. It helps Rental Providers and Property Managers assess the prospective Renter’s suitability for the property, their ability to pay rent, and their potential risk to the property. In verifying the information provided on the rental application, Rental Provider can make informed decisions about who to rent their property to.
Once you have provided written approval to proceed with a selected Renter, the excitement can amplify and we can move forward to Lease the property.
Rental Agreement Preparation & Signing:
The Rental Agreement is a legal document that outlines the terms and conditions of the agreement, including the rental amount, payment due dates, tenancy duration, and any specific rules or restrictions related to the property.
Under new rental legislation, you must provide a disclosure statement to the Renter together with the Rental Agreement. We will provide you with a Mandatory Disclosure Statement to complete and return prior to Rental Agreement preparation.
The Rental Agreement signing process typically involves the following steps:
We utilise the latest technology to ensure compliance is maintained within the Agreement and electronic signatures for a smooth and speedy process.
Deposit Payment:
Upon approval the Renter will be requested to pay the first months rent (deposit) and the bond to our account within 24 hours and provide confirmation of such upon completion. We will keep you updated along the way to advise once this has been completed.
Bond Lodgement:
The bond is an amount paid by the Renter as a form of security against any damage or unpaid rent that may occur during the lease term.
Under the new rental laws, Rental Providers can only ask for a maximum of one month’s rent as a bond, and can only require rent to be paid one month in advance unless the weekly rent is more than a certain amount. The rental provider can only charge more than one month’s worth of rent for the bond or require a renter to pay rent more than one month in advance if the weekly rental amount is more than $900.
The bond lodgement process typically involves the following steps:
Once the property has been successfully leased with Rental Agreement signed, all required deposits paid, property is fully vacated any works/cleaning completed, we then complete the Condition Report.
A condition report is an essential document that outlines the state of a rental property at the start of a tenancy. It is important for both the Rental Provider and the Renter as it serves as a reference point for the condition of the property during the tenancy and at the end of the tenancy.
Evidence of the condition of the property: The condition report serves as evidence of the state of the property before the Renter moves in. This can be used to resolve disputes between the Rental Provider and the Renter at the end of the tenancy regarding damages or wear and tear to the property.
Protection for the Rental Provider: A comprehensive condition report protects the you from false claims of damage or wear and tear to the property by the Renter. It helps to establish the condition of the property at the start of the tenancy, ensuring that the Rental Provider can prove any changes that occur during the tenancy.
Protection for the Renter: The condition report also provides protection for the Renter by ensuring that they are not held responsible for damages that existed before they moved in.
Compliance with legal requirements: Within Victoria, a condition report is required by law to be completed at the start of a tenancy. Compliance with these requirements ensures that the Rental Provider is not held liable for any legal penalties.
We utilise the latest reporting software via Inspection Express to complete and provide this document electronically. Doing so allows our team to make detailed notes about every aspect of the property and record hundreds and often thousands of images recording the properties condition.
The Renter has 7 days to return the Agent Report with any additional comments they wish to add. Any comment made by the Renter must be accompanied by a photograph to prove the validity of the differing comment.
A fully completed report will be provided to you once the Renter has returned the document. We strongly recommend this document is retained in a safe place for the duration of the tenancy.
Moving out of a property can be stressful and time consuming. It is very important to ensure that when vacating, the property is left in a clean condition ready for the Renters to move in.
As a Rental Provider, it’s your responsibility to ensure that the rental property is in a clean and well-maintained condition. A clean rental property gives a good first impression to new Renters. It sets the tone for the rest of their tenancy and can help to establish a positive landlord-tenant relationship from the outset.
If the rental property is not cleaned before the new tenants move in, there may be disputes about who is responsible for the mess or damage. By cleaning the property beforehand, you can avoid these disputes and ensure a smooth transition.
With changes to the new rental laws, Professional cleaning can only be requested of the Renter upon vacating if the property was professionally cleaned, immediately prior to their moving in.
Any Rental Agreement signed from 29 March 2021, provides extra requirements for professional cleaning.
Rental providers cannot ask renters to get professional cleaning unless the property:
It is strongly suggested that a professional cleaner is used upon your vacating the property to ensure that moving forward all future Renters will be required to also engage the services of a professional cleaner.
To assist you in the vacating process, we have devised the below link which provides well rounded information on what you should do to properly ready the property for tenancy:
Proudly being an exclusively Property Management only company, Haven Agents is characterised by its exceptional service, attention to detail, and ability to manage and maintain properties on the Rental Providers behalf expertly and efficiently.
Our key focus areas we specialise in are:
• Professionalism and Expertise: Possessing a deep understanding of the real estate industry, property management practices, local laws and regulations, and market trends.
• Clear Communication: Prompt and considered response to queries ensures that all parties involved are well-informed throughout the management process.
• Renter Acquisition and Retention: Stringent screening of potential Renters and an efficient application process.
• Comprehensive Property Maintenance: Proactive daily management, conducting regular inspections, addressing maintenance issues promptly, and coordinating repairs and renovations when necessary with quality respected tradespeople.
• Financial Management: This includes but not limited to collection of rent, daily arrears management, budgeting for expenses, management and payment of outgoings (Water / Council / Owners Corporation fees) and detailed financial reports. Utilising robust accounting systems and which transparency in financial matters with access to Owner Portals 24/7 provides excellent peace of mind.
• Legislation Compliance: Ensure strict adherence to all legislative requirements under the Act, from Owner & Renter rights to clarity on unusual matters that may arise. This helps protect our Owners from potential legal issues and ensures a smooth operation of your properties.
• Technology Integration: We are heavily involved and utilising the latest in all Property Management technology to streamline the management, routine inspections, open for inspections, financial reporting & Owner & Renter Portals.
• Proactive Problem Solving: We demonstrate a proactive approach to identifying potential risks, implementing preventive measures, and finding innovative solutions to any challenges that may arise. This minimizes disruptions and maximises property performance.
• Tailored Services: Each property has unique needs, that sadly not all property management agencies recognise. Haven Agents offers a uniquely personalized and flexible services that cater to the specific requirements of each property Owner.
• Revered Reputation: Haven Agents and its Directors have amassed a strong reputation as experts in the industry. We are proud known for their integrity, reliability, and commitment to excellence. Positive testimonials, referrals, and long-term relationships with satisfied clients speak volumes about their credibility and the quality of their services.
Routine inspections are an important part of property management and involve regular checks of the property to ensure that it is being properly maintained and that any issues are identified and addressed promptly.
The process of conducting routine inspections within Haven Agents involves the following steps:
• Scheduling: The Property Manager will schedule the first Routine Inspection after the first 3 Months of tenancy. Thereafter, depending on your preferences, future inspections will occur every 6 or 12 months. Your Property Manager will always advise you of the inspection that has been arranged and invite you to attend together.
• Preparation: Prior to the inspection, we prepare the Renters by advising of the date and time the inspection will be completed and that photographs will be taken of the property to document its condition. We take this opportunity to remind the Renters to ensure the property is clean throughout and well presented, ready for inspection.
• Inspection: During the inspection, we inspect the property inside and out, looking for any signs of damage, wear and tear, or malfunction. We also ask Renters about any issues or concerns they have noticed with the property that may require attention.
• Reporting: Upon completion, we compile all photographs and comments noting any issues that were identified, along with their severity and any recommended actions for addressing them into a detailed report. This report is very useful for tracking maintenance and repair needs, and for identifying patterns or trends in property issues.
• Follow-up: Following the inspection, we will follow up on any issues that were identified, scheduling maintenance or repair work as necessary. We also communicate with the Renters regarding any actions being taken to address the identified issues in addition to any action we require from them such as cleaning or damage repairs.
Routine inspections are vital in property management, and help to ensure that the property remains safe, functional, and attractive for Renters over the long term.
Maintenance is an inevitable and essential part of Property Management. It involves the ongoing upkeep and repair of a property to ensure that it remains safe, functional, and attractive for its occupants.
The process of maintenance typically involves:
• Identification: Be it from regular inspections or Renter advice regarding issues needing attention.
• Prioritisation: Asses the urgency and impact on Renter safety and/or comfort in addition to damage to the property. Critical issues such as leaks, electrical problems, and safety hazards should be addressed first, while less urgent issues such as cosmetic and non-urgent repairs can be addressed later.
• Quote Sourcing: Obtain estimates for the cost of repairs or maintenance work from qualified contractors or service providers. This will help to ensure that the work is done correctly and at a fair price.
• Scheduling and coordination: Coordinate with contractors and Renters to minimise disruption and ensure that the work is completed efficiently.
• Inspection and quality control: Complete follow up of the works to ensure that it has been done correctly and meets the necessary standards of quality and finish.
• Documentation: Notes of all maintenance work including the dates, nature of the work, all communications between parties and the cost. This documentation can be useful for tracking expenses and ensuring that the property is being maintained to a high standard.
Monitoring and attention to Lease Expiries is crucial to ensure either the retention of a Renter or the ability to serve any Notice required within the appropriate timeframe.
Our process for the Lease Renewal & Rent Review process involves:
• Notification: Three months before the lease is due to expire, we will contact you to discuss your intentions of renewing the agreement and provide a market assessment to determine if a rental increase is suggested.
• Renter Communication: Your instructions regarding any renewal offer and/or rental increase is communicated to the Renter for their consideration.
• Rent Increase Notice: Preparation of formal Rental Increase notice must include the current rent amount, the proposed new rent amount, and the date the new rent would come into effect. This must now also include market comparisons on how the new rental figure was obtained
• Negotiation: Based on your instructions, we then must encourage and negotiate with the Renter the terms of the lease renewal, including the rent increase amount, lease term, and any other relevant terms.
• Agreement: Once all parties agree, we will prepare the relevant documentation for signing.
• Compliance: We ensure secure audit tracking of electronic signatures and guarantee the most up to date legislation requirements are being met.
Upon execution of any documents, we will always provide you with a copy for your records. Rest assured, our office will always retain a copy of all tenancy documents.
Although every care is taken in selecting suitable Renters, occasionally they may fall into rent arrears. Under current legislation we may only issue a ‘Notice to Vacate’ when a Renter is in rental arrears of at least 14 days. To minimise any potential loss, rent arrears are monitored on a daily basis.Standard procedures including personal reminder calls, sms’s and email communication are employed once the Renter is anything more than 3 days in arrears.
Should a Notice to Vacate be required once the Renter reaches 14 Days in arrears, new legislation gives the Renters more chances to be arrears within any 12 month period. View a diagram here of how this process works.
Haven Agents prides itself on maintaining an extremely minimal arrears rate across our portfolio which is largely due to our acute selection process at the Leasing Process stage. If you select the right Renter at the beginning, there are less likely to be arrears issues throughout the tenancy.
Our Property Management experts make every effort to avoid having any matter escalate to VCAT. We have sharpened negotiation skills that allow a smooth resolution to almost all matters that would likely otherwise result in Tribunal intervention.
While rare, on the occasions where VCAT is required, our process for preparing and attending a Tribunal hearing involves:
• Submission: Clear, succinct and timely submission of the application ensures adherence to legislative requirements.
• Preparation: Revision and collational of all relevant documentation, including the lease agreement, all relevant communications between the parties and any evidence or statements that we seek to rely upon at the hearing.
• Attendance: We will attend the hearing on the Owners behalf. Owners are most welcome to join the hearing if they choose so they are aware of the outcome and facts of the case.
• Decision and follow-up: At the hearing, the tribunal will make a decision on the matter, which all parties must abide by. This may include scheduling repairs or maintenance, addressing any lease violations, bond refunds or claims awarded, or other actions as determined by the tribunal.
Attending a tribunal hearing can be a complex and challenging process, and it is important to have an experienced Agent that has a thorough understanding of the relevant legislation and regulations, as well as the specific issues at hand. By being prepared and presenting a strong case, Haven Agents effectively represents their clients and protect their interests as if they were our own.
Insurance claims can be a complex task. To ensure a favourable outcome, diligent record keeping and incident knowledge is crucial. Haven Agents will always provide as much information and knowledge as possible to achieve the best outcome.
Most important, it is vital to ensure adequate cover is placed at the commencement of the tenancy to ensure any and all potential claim scenarios have the best chance of being covered such as Renter damage, Loss of Rent, Rent Default, Evictions and so on.
• Reporting the incident: Prompt recording and reporting of the incident to the insurance company is aware as soon as possible. This may involve submitting a claim form. If authorised, Haven Agents can do this on your behalf.
• Documenting the damage: Ideally with photos or videos and provide this information to the insurance company.
• Obtaining estimates: Some insurers will require quotes for damage to be obtained independently where others may arrange an assessor to determine the scope of works.
• Meeting with the adjuster: If an adjuster is required to assess the damage we can at your request, be present at this meeting to provide any necessary information or clarification.
• Settlement: Upon receiving a settlement offer, we will provide this to you and review the offer. Negotiation may be necessary if we feel the claim has been unfairly decided based on the Policy terms.
• Payment: Haven Agents can collect any settlement funds to ensure this is reflected on your Financial Statement and ready for assessment at tax time.
It’s important to note that the specific process for insurance claims may vary depending on the type of insurance policy and the terms within the policy. We are unable to recommend or promote any particular insurance policy however can provide information on the market leaders in the industry who deal only in Landlord Insurance.
The management of accounts for an investment property can be a burden at times. Each client has varying wants and needs regarding the payment of bills and we can tailor an arrangement with any provider that you prefer.
Most commonly, our clients prefer to have all property rates and charges received to our office and paid via the rental income collected. This ensures a more streamlined and “all in one” approached to ensuring most of the financial aspects relating to the property are in one place and reflected on monthly and end of year statements ready for Tax time.
The most common bills we take care of payment are:
• Water Rates
• Council Rates
• Owners Corporation Fees
• Rental Provider Insurance
We are also able to make payment of other accounts such as Land Tax however some organisations will not allow these types of notices to be directly to an Agent. Simply forward to our office upon receipt and we can arrange the payment.
Having a clear yet detailed end-of-financial-year summary is crucial for any investor as it provides a concise and comprehensive overview of the property’s financial performance during the past fiscal year. This summary is produced promptly on 1st July annually making it immediately available to provide to your accountant.
Our advanced property management software also provides the ability for a secondary contact to receive “statements only”. This is helpful as some clients wish for their accountant to receive each monthly statement throughout the year and the EOFY statement.
Our advanced property management software allows Owners & Renters to have transparent access to their tenancy information 24/7 via our online portals.
Within the PropertyMe portal, you can:
• View a real-time snapshot of your property and rental details
• Track financial activity including monthly activity, expenses breakdown and more
• Monitor the status of any outstanding jobs
• Drill into inspections to see comments, images and any follow-up actions
• View and download documents such as statements and bills
Visit the link below to explore more regarding Owner Portal Access within Property Me:
Rental Providers have certain responsibilities for smoke alarm, gas and electrical safety. Gas and electrical appliances need to be regularly checked and maintained. Rental providers should make sure that gas appliances are working safely. Renters are encouraged to keep an eye on appliances to identify any problems.
Rental providers who enter into a new agreement after 29 March 2021, or have a fixed term agreement of more than five years which rolls over into a periodic tenancy after 29 March 2021, must ensure that: gas and electricity safety checks are conducted every two years, and if an electrical or gas safety check has not been conducted within the last 2 years at the time the renter occupies the premises, the rental provider must arrange an electrical safety check as soon as possible.
Note: If the rented premises is a newly built house or apartment it may not be necessary to conduct a separate gas and electrical safety check. See Gas and electrical safety checks for newly built homes.
More information can be found via the Consumer Affairs website which also includes a Renters Guide which we are required to provide to all new Renters upon moving in.
Landlord insurance is specifically designed to protect those who own investment properties from the risks that come with renting. It generally covers events that cause a loss of rental income, theft or damage to your property.
Landlord insurance is offered by most of the major general insurance providers in Australia, so there are plenty of different products to compare. There are also providers such as Property Insurance Plus and Terri Scheer who specialise in providing only Landlord Insurance.
There are generally three components of Landlord insurance:
1. The part that covers loss of rental income
2. Building insurance’which covers damage to the property’s structure
3. Contents insurance for protection against damage to what’s inside the property (e.g. carpet, blinds, appliances)
Landlord insurance can apply to all sorts of investment properties, whether it’s a house, unit, apartment or townhouse.
A landlord insurance policy may cover you for the following events:
Tenancy cover || Damage or theft by tenants or the tenants’ invited guests || Loss of rent || Rent default || Legal expenses taking tenants to court || Liability || Building cover
Damage to the building structure as a result of: Fires || Lightning strikes || Storm damage || Floods || Falling trees || Explosions || Earthquake || Vandalism || Vehicle collisions || Water damage || Contents cover
Damage to contents (e.g. curtains, carpet, appliances, light fittings) as a result of: Fires || Lightning strikes || Storm damage || Floods || Falling trees || Explosions || Earthquake || Vandalism || Vehicle collisions || Water damage
We strongly encourage all of our clients to ensure they have adequate insurance cover in place at the commencement of any tenancy.
Haven Agents strive to provide the best resources & market leading third party providers to provide support throughout your property journey. To assist you in making informed decisions, review here some valuable resources for your reference.
On our social media platforms, you will find updates, announcements, useful information, and engaging content related to our services.
We regularly share valuable insights, industry news, and special promotions that you wouldn’t want to miss.
By connecting with us on social media, you’ll have the opportunity to engage with our team, ask questions, and join the conversation. We value your feedback and look forward to building a strong online community with our valued clients.
Ready to unlock the full potential of your rental property? Take the first step by scheduling a rental appraisal with Haven Agents today. Our team of dedicated property management experts is here to provide you with a comprehensive assessment of your property’s rental value.
Inspect Real Estate’s Move Me In service is a unique utility connection service designed by property managers to especially cater for the leasing process to ensure everything runs smoothly.
Move Me In is completely focused on providing its clients with a much better experience then the traditional call centre model of connecting, disconnecting or revising utilities. Clients will get access to some of the cheapest electricity and gas in Victoria without having to speak with a call centre for long periods of time.
When was the last time you checked to see if you were getting the best deal on your electricity?
Top Removals has been in operation for 10 years have moved it all!
Property investors are entitled to several taxation benefits however many fail to take full advantage of the depreciation deductions available to them.
While most investors are aware of claims for expenses such as interest on their loans, council rates, property management fees and repairs and maintenance costs, depreciation is a hidden factor often not considered.
To help better understand property depreciation, here are the answers to some of the most frequently asked questions.
What is property depreciation?
As a building gets older, its structure and the assets contained within it wear
out – they depreciate. The Australian Taxation Office (ATO) allows owners of income producing properties to claim this depreciation as a tax deduction.
What can you claim?
Depreciation deductions are split into two distinct categories:
Division 43 capital works allowance
Division 40 plant and equipment depreciation
The capital works allowance relates to claims for the wear and tear that occurs to the structure of the property and any fixed items. Capital works includes items like the roof, walls, doors, kitchen cupboards, bathroom tubs and toilet bowls.
Generally, any residential building where construction commenced after the 15 September 1987 will entitle its owner to capital works deductions. These deductions can be claimed at a rate of 2.5 per cent per year for up to forty years.
Owners of buildings constructed prior to 1987 should still find out what deductions are available, as often these buildings have undergone some form of renovation which can result in capital works deductions.
Plant and equipment depreciation can be claimed for the easily removable fixtures and fittings found within the property. There are more than 6,000 different depreciable assets recognised by the ATO, including items like carpet, blinds, air conditioners, hot water systems, smoke alarms and ceiling fans. Each plant and equipment asset are assigned an individual effective life and depreciation rate.
Under current legislation, owners of second-hand residential properties who exchanged contracts after 7:30pm on 9 May 2017 cannot claim deductions for previously used plant or equipment assets. Investors who purchase brand-new residential and substantially renovated properties, commercial real estate or add new plant and equipment assets to a second-hand residential property can still claim substantial depreciation deductions.
How will claiming depreciation help an investor?
As the owner of a residential investment property, claiming depreciation deductions can make a big difference to your cash flow. During FY 2021/22, BMT Tax Depreciation found residential clients an average first year claim of almost $10,000. A BMT Tax Depreciation Schedule covers all deductions available over the lifetime of a property to ensure you maximise your cash flow and is 100 per cent tax deductible.
What is involved in completing a tax depreciation schedule?
BMT Tax Depreciation start by collecting the basic information needed to prepare the schedule. This includes simple details like the name you would like to appear on your depreciation schedule, the property address, purchase information and your property manager and accountant details.
Then, a property inspection is conducted. To make this as easy as possible, BMT can contact your property manager or tenant directly to arrange access to the property. A property inspector will count, measure and photograph all depreciable assets such as the flooring, light fittings, tapware and other items. All the depreciable assets found within your property will be recorded during the inspection and reported back to your local office.
From there, the depreciation and specialist tax team will review the information gathered and prepare your tax depreciation schedule. BMT can even forward your schedule to your accountant directly, saving you time.
Property investors who would like a quote on the deductions available in an income producing property Request a Quote or contact one of the expert staff at BMT on 1300 728 726.
Aon recognises the importance of Australia’s real estate industry as a pillar of the country’s prosperity. It has always been a genuine focus of strategic importance to Aon to help protect and support the industry and the communities that it serves.
Aon has unmatched expertise in designing and placing insurance programs for all sectors of the real estate industry. They have access to the world’s largest database of insurance data, enabling them to share insights to their clients on risk financing best practice across the real estate sector.
Aon can offer bespoke insurance and risk management solutions to support you through the entire life cycle of real estate ownership. Their capabilities include a comprehensive range of solutions, include property, liability, financial lines, environmental, construction & risk management.
Visit their website for full details and information on what coverage options are available:
Australia’s first landlord insurance policy to suit the specific risks landlords face was created by Terri Scheer in 1990. Their goal is to help customers realise their capital and financial growth objectives by protecting their investment property and rental income stream from common tenancy related risks.
Before their specialist policies, Australian landlords were exposed to considerable financial risks caused by tenants, including loss of rental income or damage to fittings, fixtures and furnishings. Very often, the bond isn’t enough to cover these costs. Their products cover landlords for these risks, as well as damage to your building, protecting both your property and your income.
Visit their website for full details and information on what coverage options are available:
Established in 2009, Property Insurance Plus (PIP) is an Australian owned and operated company. Their business is built on the extensive experience their team shares across the landlord insurance and real estate sectors. In 2022 Property Insurance Plus merged with St George Underwriting Agency (SGUA) who have been protecting Australian Landlords Properties since 1991 offering a comprehensive Building and Landlord Insurance facility. They have formed a powerhouse to present the very best in investment property insurance.
They deliver easy to understand, cost-effective insurance protection. They support investors by providing optimal cover benefits, combined with cost-effective premiums. Backed by their low claims excess and customer service, their policies deliver true peace of mind.
Personalised Service – Being a locally based team (of real people) that work together to support their clients. When you contact PIP, you’ll receive personalised service and their team will listen to your questions or concerns and assist you accordingly.
Visit their website for full details and information on what coverage options are available:
Smarter Care provides an all in one compliance safety inspection of rental properties for the Rental Provider (Owner) regarding their obligations for: Gas, Electrical and Smoke Alarm Safety.
Smartercare is a cost-effective and efficient solution for the Compliance Inspection and safety requirements under the current Victorian Residential Tenancies Act.
They assist and facilitate Rental Providers, their Agents, and Property Managers with fast easy-to-use automated systems.
Supported by a professional Customer Service Team, we provide the administration of renter contact and property access for booking Compliance Safety Inspections, providing compliance reporting, quoting, and conducting approved rectification works.
Smartercare follow-up with on-going future inspections via our automated service.
With qualified in-house technicians, working in teams, we visit once for ALL Compliance inspections.
Visit their website for full details and information on their services:
Ensuring correct and descriptive copywriting for marketing is crucial for attracting the right Renter. It sets an expectation, establishes credibility, and ultimately maximizing the rental property’s success in the market.
It serves as a powerful tool for marketing the property and effectively conveying the unique features and benefits of the property to potential Renters.
Haven Agents can provide a property description which must be submitted to the Owner for final approval.
If expert copy is required or requested, this can be outsourced for a fee.
Our targeted Social media marketing allows us to reach a wider audience and increase attention to the property.
This engagement helps build stronger relationships with potential Renters and widens the awareness of property availability.
Our standard social media marketing is extremely cost-effective compared to traditional marketing methods. It allows us to reach a large audience with zero cost.
Additional and more targeted posts are available for a fee.
Our media platforms provide an opportunity for potential Renters to interact with us and receive feedback, questions and appointment bookings.
With potential Renters sharing links about the property to their friends, family or colleagues, this can drive traffic to property and potentially secure a Renter.
Providing a floor plan is an important tool for Renters in the planning, designing, and workability a space can offer. It provides a visual representation of the layout and helps ensure that the space meets their needs.
A floorplan provides a clear understanding of the layout of a property, including the size and flow of the space.
There are a variety of floorplans available ranging from a basic layout with measurements, to a 3D model or to a Virtual Walk Through.
Our diverse Digital marketing offers several benefits, including the ability to reach a wider audience, target specific demographics, measure and analyse performance, and track incoming enquires.
All of our listings are presented with the highest quality imagery, quality descriptions, accurate and comprehensive feature detailing.
We only provide Premier Listings to ensure your property has the largest advertisement possible to capture the attention of the wider rental market. To learn more about Premier Listings with Realestate.com.au, click HERE
As digital technologies continue to evolve, we must adapt with it as digital marketing will remain a critical component of any successful marketing strategy.
First Impressions count – when potential renters browse real estate listings online, the quality of the photographs is often their first impression of the property. High-quality, professional photos can make a property look more appealing, inviting, and desirable.
A range of For Lease board sizes are available. Additional cost may be required for a custom size board to suite the properties needs.