Investment Seminar

This week Toop&Toop Real Estate held an investment seminar in conjunction with The Commonwealth Bank informing guests about purchasing and investing in the residential property market. This seminar covered topics such as the state of the current market, financial planning, property management and the depreciation of property.

Held at the new Golden Grove office we had several guest speakers including Kerrie Akkermans General Manager of Toop&Toop property management, Tim Thredgold corporate auctioneer and sales partner at Toop&Toop , Lisa Davis  Commonwealth bank Area Manager Northern Area SA/NT Region, Warren Halfpenny of The Commonwealth Bank and  Ryan Martin from BMT Tax Depreciation.

There is an oversupply of properties in the current market which is causing prices to drop, making it an ideal time to begin or add to your investment portfolio. The Commonwealth Bank have a range of loans and financial advice to help you build your portfolio, with interest rates at the lowest they have been for some time and innovative technology rivaling other banks its no wonder they have just been announced Mortgage lender of the year for 2012.

It’s undoubtedly a hard job to manage an investment property and it’s important to recognize once you purchase an investment property you are “running a business” as Kerrie Akkermans explained on the night. Landlords and tenants can have very different views on situations and managing that relationship can be a difficult task so its best to have an expert in the field to ensure  your business is running well.

The tax benefits of having an investment property particularly with depreciation over assets can help cover costs for wear and tear as Ryan Martin discussed. It’s a good idea to have your investment surveyed by a BMT quantity surveyor who are the only depreciation surveyors recognized by the ATO. “The ATO allows property investors to claim a rental & investment property depreciation deduction related to the building and plant and equipment items contained within it. It can be claimed by any owner of an income producing property. This deduction essentially reduces the investment property owner's taxable income”(BMT, 2012)

It was the first event run so far with investment information from Toop&Toop and financial information from The Commonwealth Bank with the fantastic turnout no doubt there will be more to come.

Thank you to everyone who came and supported us and also to the guest speakers from the night who provided invaluable insight into property investment. We plan to run more of these nights in other offices across  Adelaide so let us know if your interested!

ATTENTION DATE CHANGE:Comm Bank Landlord Seminar in conjunction with Toop&Toop Real Estate

What do you need to know to be a successful property owner??? Do you have questions that need to be answered???

Come along and join a team who can help you explore this arena. You may already be a home owner, a landlord or someone who wants to start a successful portfolio, or just wants some up to date market information.

Toop&Toop Real Estate and the Commonwealth Bank are joining forces to offer a free Property Seminar- 25th July 2012 at 6.30pm – 8pm at Toop&Toop’ s Golden Grove Office- 8 Sandstock Boulevard, Golden Grove. There will be plenty of drinks and nibbles on hand throughout the evening.

Toop & Toop speakers:Tim Thredgold/Lew Toop on the Real Estate Market.
Kerrie Akkermans- General Manager of Toop&Toop Property Management on Residential Tenancies Changes

Commonwealth Bank speakers:
Lisa Davis Home Loans and Financial Planning
Tax Advice Speaker- BMT Tax Depreciation – Quantity Surveyors
Ryan Martin

We think this is a night that would be very valuable to all Landlord’s, Landlords to be and for anyone who has a general interest in Real Estate.

Tenant Approved….what next?

So you have held an open at your property, approved a tenant and negotiated a lease start date…Now what do you need to do prior to your tenant moving in?

First thing to do in your property (particularly if you were previously living  there)  is remove all of your belongings. Ensure that you have not left anything behind except for items that have been agreed to by the tenant and noted in the lease.

Clean the property thoroughly, keep in mind you cannot expect a vacating tenant to clean anything that was not clean when they moved in so make sure it is clean to begin with. To avoid disagreements ensure the property is well cleaned with particular attention paid to the kitchen, bathrooms and flooring. The condition the tenant moves into the property in is the same they can leave it in, so be aware if you do not steam clean carpets prior to the tenancy commencement they can leave them in the same state. The gardens also need to be in a position that you would like them maintained in, so make sure to mow, prune and trim.

Items in the property that are broken either need to be repaired or removed prior to tenancy commencement. The tenant has the right to expect any items that are remaining in the property to be in working order. This can include items such as dishwashers, alarm systems, air conditioners/heating etc. If these items are in the property but do not work they need to be removed or legally the tenant can asked them to be restored either by repair or replacement.

You should perform a detailed ingoing inspection at the property before the tenant moves in, if you have a property manager they will perform this on your behalf. This will record the condition of the property and any inventory that is to remain. It is also advised that you take photos and ensure to take a water meter reading at this time.

Your tenants will require 2 sets of keys for the property. Only give them keys that fit locks in the property and make sure that you give them 2 complete sets, take note of the keys so you know what should be returned at the end of the tenancy.  

Don’t forget to disconnect your power! It is a tenant’s responsibility to connect and pay for the electricity they use as well as gas if needed. So don’t forget to disconnect your power prior to the tenant moving in so you are not billed for their usage.

If in doubt about your obligations as a landlord jump onto the Office Of Consumer & Business Affairs (OCBA) website at www.ocba.sa.gov.au or speak to your experienced property manager.