Smoke alarm, blind cord and safety switch compliance is essential for all landlords. Identifying risk and compliance is a major focus for Ray White IMS.

Click on the link below to view the QLD Smoke Alarm fact sheet

An owner is responsible for ensuring their property is fit to live in and in a good state of repair. The tenant must notify them of any repairs needed. If a tenant, or their guest, damages the property, they may have to pay for repairs.

Tenants can only be charged for water consumption if: 
The property is individually metered (or water is delivered by vehicle), and the property is water efficient, and the tenancy agreement states the tenant must pay for water consumption.

Click on the link below to view the QLD Water Charging fact sheet

Standard home and contents insurance will not protect against many of the risks that landlord’s face. Whether it be loss of rent due to an absconding tenant, malicious or accidental damage, or a whole range of other circumstances including tenant hardship, insurance will provide peace-of-mind to property owners.

As a building gets older and items within it wear out, they depreciate in value. The Australian Tax Office governs legislation that allows owners of income producing property to claim a tax deduction for this wear and tear. Capital works deductions can be claimed on the building's structure and items considered permanently fixed to the property, while depreciation can be claimed on the plant and equipment assets contained within it.

Tax depreciation helps investment property owners claim more. Claiming depreciation and the associated capital works deductions is a significant taxation benefit, and one which many investment property owners are unaware of. Depreciation is a non-cash deduction meaning  you do not need to spend any money to claim it.
Although there are new rules affecting second-hand residential properties, the good news is that there are still thousands of dollars to be claimed.

• Capital works deductions for new and second-hand properties, which make up 85 to 90 percent of claims are unaffected regardless of when the property was purchased.

• Those who purchase brand new residential and substantially renovated properties, commercial real estate or add new plant and equipment assets to a second-hand residential property can still claim substantial depreciation deductions.