For Rent... ISSUE 3
A word from our property management team CLAIM DEPRECIATION OR MISS OUT ON DEDUCTIONS All properties will suffer from maintenance issues but these can be compensated for through tax deductions. Wear and tear happens - but that doesn't mean owners have to lose out. Bathroom tiles chip and crack, hot-water systems break down and carpet can acquire indelible stains. Just a few signs of the wear and tear of everyday living that come with owning a house or apartment. But if maintenance issues are annoying for owner-occupiers, they can be doubly so for property investors. The most valuable property losses are the ones that generate little or no cost for investors. Being able to claim tax deductions for the wear and tear on the building structure and for the plant and equipment in a property fits squarely into this category. Yet according to a national quantity surveying firm, up to 80 per cent of investors don't claim the correct depreciation on their properties and are missing out on thousands of dollars in deductions each financial year. "This is a staggering statistic when you consider how much extra cash flow can be obtained by a property investor at tax time," says Brad Beer, a director of the firm BMT Tax Depreciation. "This deduction essentially lowers their tax bill." It's timely for investors to review their depreciation report if
they have one, or to consider hiring a quantity surveyor to prepare a new one. Many first-time investors have the potential to write off depreciation against their taxable income but haven't been given the necessary paperwork on depreciation allowances by the previous owner of their property. Often the new owner misses out altogether in claiming these deductions, an investor can remedy the situation by commissioning their own report on a property's outstanding depreciation. The Tax Office won't allow you to depreciate the walls and roofs of any building built before July 1985, but with older buildings you can still generate significant claims for replacement kitchens and bathrooms, renovated living areas and recent additions.
CALOUNDRA 218/10 Leeding Tce “Rumba” • Prime beachfront location • 3 bed, 2 bath unit • Resort complex, 2 pools + heated spa • Views over Bulcock Esplanade • 2 parking spaces
Price: $620 p/w CALOUNDRA 2/3 Edith Street • Central CBD position • 2 bed, 1 bath duplex • Large kitchen / living area • Set back from road • Single garage carport
Price: $285 p/w
49 Bulcock Street, Caloundra | Phone 5491 2000 Email: rentals@henzells.com.au
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KINGS BEACH 8/27 Canberra Terrace • Fully renovated unit • 2 bed, 1 bath • Close to beach & town centre • Sea views • Surprisingly spacious
Price: $300 p/w KINGS BEACH 1/17 Ormonde Terrace • Fully furnished, 1st floor • 2 bed, 2 bath, opposite beach • Private courtyard • Large balcony • Secure parking
Price: $295 p/w LITTLE MOUNTAIN 8 Parkview Place • Brand new home - Air con • 4 bed, 2 bath WIR • Spacious kitchen / lounge / dining • Patio overlooking parkland • Double garage, pets ok
Price: $410 p/w KINGS BEACH 31/70 Albert Street • Fully furnished spacious unit • 3 bed, 2 bath, offers king & queen beds • 2 living area 2 balconies • Ocean views + pool, tennis court in complex • Tandem parking - walking distance to beach
Price: $380 p/w PELICAN WATERS 9 Tibrogargan • Stunning 4 bed, 2 bath home • Spacious formal lounge + kitchen/dining • WIR + master overlooks pool • Fully fenced - pets ok • Water + pool charges applicable
Price: $550 p/w
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GOLDEN BEACH 43 Theresa Street • Completely refurbished throughout • 3 bed with built ins • New kitchen & tiled throughout • Spacious fenced back garden • Single garage & close to Pumicestone Passage
Price: $345 p/w PELICAN WATERS 3 Silky Oak Place • 5 bedrooms - 3 bathrooms (spa in ensuite) • Property backs onto golf course - uninterrupted views • 3 living areas • Inground pool & above ground spa • Double storey home
Price: $650 p/w PELICAN WATERS 13 Gradorean Street • Outstanding 4 bedroom home • Featuring oversized master with ensuite • Large kitchen, two undercover outdoor areas • Ducted air conditioning • Roman shaped pool with spa / water feature
Price: $510 p/w PELICAN WATERS 22 Investigator Place • Stunning family home 4 bed, 3 bath • Formal living • Large family/kitchen/dining • Double garage + single garage/work shop • Large outdoor area for entertaining
Price: $550 p/w PELICAN WATERS 11/28 Pelican Waters Blvd • Modern 2 bedroom unit • Open plan living, modern kitchen + dishwasher • Balcony off lounge over looking the pool • Single lock up garage • Short walk to Pelican Waters shopping centre
Price: $260 p/w
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Living with possums Even for those who don't spook easily, the guttural hiss and heavy thump of a possum scurrying across the roof is not an appealing sound in the middle of the night. Worse still, possums often take up residence inside roofs, which in most cases means the new noisy neighbour isn't just passing through. Possums can gain access to the roof space through loose tiles, loose roofing iron, broken eaves and holes in timber or brickwork. Regular maintenance checks of your roof should ensure that this access is restricted; however you may need to take decisive action to deter the visitor permanently. As they are a protected species (it is illegal in NSW to relocate the possum more than 50m away from its habitat), you can either call your local wildlife rescue group, check the yellow pages for a possum remover, or take steps yourself to remove the possum and possum-proof your roof.
W.I.R.E.S. (Wildlife Information and Rescue Service) offers the following tips • provide an alternative home (a possum box attached to a tree at least 4m above the ground to keep it safe from dogs and cats) • climb into your roof, remove the possum's nest and place it in the possum box (best done at night when the possum is not there) • place a small piece of fruit in the possum box to encourage the animal to investigate • trim away any branches near the house that might give the possum access to the roof • place a light in the roof cavity and leave it on for a few days - the light should keep the possum away • block off any holes in the roof to ensure the possum doesn't return (make absolutely sure there are no possums in the roof before you do this!).
Get to know your property management team Helen ... Q How long have you been in Property Management? A Over 5 years starting in Commercial Property Management and then moving into Residential Property Management. Q What do you enjoy about Real Estate? A Meeting all sorts of people and experiencing what wonderful ways people design and decorate their homes. Q What did you do before Property Management? A Various positions in the nursing profession complemented with the wonderful role of being a mother and a wife. Q What has been one of your favourite experiences? A Travelling on a shoe string budget in New York ~ loved the unexpected surprises along the way. Q What do enjoy doing in your leisure time? A Being by the beach, meeting friends over coffee or Merlot and sharing weekend newspapers with my husband.
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