July 2016
Wollongong
Property Management News
NEW FINANCIAL YEAR RESOLUTIONS FOR PROPERTY INVESTORS
Loose-fill Asbestos
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Now is the time to start thinking of making new financial year resolutions to improve and
We advise that the Wollongong Council
enhance the performance of your investment property.
area has been identified by Fair Trading NSW as an area where potentially loose-
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Resolution number one. When does your current lease expire? Does it expire during a low demand season? Your property manager can inform you of the high demand periods of the year. So, upon renewal of the current agreement tailor the lease term so it expires in peak letting season of the year. This way should your tenant vacate your property will be available at during a premium reletting period resulting in a shorter vacancy and the chance of achieving a higher rental.
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Resolution number two. Have you revisited your investment loan terms? Rates are
fill asbestos was installed in the 1960’s and 1970’s by a Canberra based company called Mr. Fluffy. Properties that may be affected were built prior to 1980. http://www.fairtrading.nsw.gov.au/ftw/ Tenants_and_home_owners/Loose_fill_ asbestos_insulation/Frequently_asked_ questions_loose_fill_asbestos.page?
very competitive at present and many lenders are now offering incentives to property investors to switch and to enter into new loan terms. This is a great opportunity to fix your
To assist you we have attached the full
loan at an historically low rate.
link including Frequently Asked Questions, Public Register and Mandatory Tagging
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Resolution number three Review whether you need to update any fixtures and fittings
Fact Sheets.
to enhance the rental and capital value of the property. Now is the perfect time to plan this value enhancing exercise. Firstly we are entering into the final six months of the financial year so such works are advantageous from a taxation perspective. Secondly, undertaking improvements be it installing a BIW, or new blinds, even new tap fittings is often enough to show your tenant that the property is definitely worth staying on in.
Dual or Large Family Living 73 Hassan St Lake Heights 7 bed, 3 bath 2 car parking Auction this Saturday 30/7/2016 Potential Dual income of $800pw Price guide $675,000-$730,000
Although your property may not be affected, we trust that this information may be of interest and assistance to you.