‘Tis the season for celebration and relaxation. But also, an opportunity to be prepared for the next year ahead. Whilst looking forward to the holidays and ‘switching off’ is almost a certainty this time of year, now is also the time to perform a ‘health check’ on your portfolio and ensure your administration is in order.
Performing a real-estate health-check
What does this mean? It means working with your dedicated real estate expert to analyse your investment portfolio’s current position and determine if changes need to be made to account for shifts in the market and expectations for the next year. In addition to the unparalleled knowledge of our inner-west property experts, our team also have access to the latest technology in real-estate market research.
These research tools allow us to explore a wide variety of performance data points and information related to your property and its’ surrounding structures. By approaching your real-estate expert, you will have access to information such as:
- Local property market trends
- Market conditions reporting
- Property valuation information
- Comparable property information
- Suburb statistics
- Rental yield information
Ensuring your admin is in order
We are now six months into the financial year, and Christmas is upon us again.
Now is the time to do a six monthly stocktake on your investment property. After all, the end of financial year is only another six months away.
Take time to review your investment property and ensure that you have all your rent statements in order. Do you have copies of all your outgoings and invoices? Do you have a copy of your lease agreement and are your insurances up to date? Is council, water and strata paid and not overdue?
Call your property manager to ensure that there is no outstanding or preventative maintenance due and that your rent is at market value and up to date leading to the Christmas period.
By doing a six monthly stocktake on your investment property you will avoid the last minute rush at the end of financial year which costs you time, dollars and creates undue stress when searching for documents needed by your accountant.
Staying on top of repairs and rent payments at this time of year gives you peace of mind during the Christmas/New Year period.