Why having a property manager will help you come tax time
By Advantage Property | 8th Jul 19
How to get the most out of your property investment
Tossing up on whether you should manage or get a Property Manager for your investment? Although there are some costs involved with hiring a Property Manager, it may be more beneficial for you in the long run.
For example, did you know you can claim their fee? As with many costs associated with your property investment, you will be able to claim the Property Management fee as they are tax deductible. Not only will you able to recoup some of the cost of hiring a Property Manager, but you also don’t have to stress out about your tenants or maintenance.
Time is money – having a Property Manager means less paperwork for you. The great thing about having a Property Manager is that they will acquire a lot of the information you will need to give to your accountant. If you don’t have a Property Manager, the amount of paperwork you will need to do will be significantly more than if you had one.
Being ATO compliant is so important and the benefit of having a Property Manager is that they know what can and can’t be claimed at tax time. There are differences between a capital improvement and maintenance. Your Property Manager will be able to advise how repairs may likely play out with your accountant if you are unsure.
Have an investment you are looking to rent with quality tenants? Our award winning Property Management team are here to help make the process easy and stress free for you. Get in touch today by calling 9883 8900 or emailing Michelle: firstname.lastname@example.org