Rentals - End of Financial Year

We mainly look at what is happening in the sales market. Today I thought I would run through what we are seeing in the rental market. Rents have continued to surge over Summer and prices for 1-bedroom apartments now regularly top $1000 per week in Manly. We see younger overseas couples moving to the area compete with locals pushing prices up. There is a massive shortage of houses available for lease. This year we have seen the median price go from $2250 per week to $3000 per week for modern family homes in Seaforth and Balgowlah Heights. If you look in Mosman $4000 per week gets you a normal 4-bedroom home.

For all landlords as we get closer to the end of financial year it is important to make sure you are maximising your income. Check you are getting market rent and that you are up to date with the new NSW tenancy laws. This helps you make the most of your investment. One thing that we feel is essential for all investors is to have a “Tax Deprecating Schedule”. This outlines capital allowance and deductions for depreciating assets. This helps reduce income tax on rental income while improving cash flow. Please let us know if you have any questions on how to go about getting a tax depreciation schedule or if you need a check up on your rental value.