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May 2017 RBA Update Interest remain unchanged at 1.50 per cent.

Tip of the Month

1. After building a property investment the next thing to take care is insurance, make sure that you have landlord insurance as part of your coverage
2. Have your depreciation schedules done through the quantity surveying companies.
3. Make sure that you get the tax information done even though it’s not due to the end of the tax year
4. Talk to your rental manager and be in contact. Make sure that you do get a copy of the initial inspection and make sure that you get copies of the ongoing inspections.

 

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Property Friends RBA update and tip of the month. For the month of May, well isn’t time flying when you’re having fun?
Beautiful autumn’s day in Melbourne as to the RBA, the RBA has left the rates at one-and-a-half percent as expected. While some banks are increasing the rates for investors, the rate general scene is very stable and the European Bank rate is still at 0% and the forecasts are for further stability. So nothing too exciting here, no news is good news.
As to the tip of the month, I recently had a fairly new investor completing a house and the question was asked “what’s next?” Well, what next is insurance, make sure that you have landlord insurance as part of your coverage. I think that’s a very cheap way of “getting a safe night sleep”.
Make sure that you get the tax information done even though it’s not due to the end of the text year I suggest that it’s done there and then on completion it’s out of the way whilst it’s all new and fresh in your mind. So all you need to do is send the specification to one of the two strategic alliance partners BMT or Depro and you get a special rate. So have your depreciation schedules done through the quantity surveying companies.
Further than that talk to your rental manager and be in contact. Make sure that you do get a copy of the initial inspection report and make sure that you get copies of the ongoing inspections. You got to manage the manager that’s just the way it goes.
Okay that’ll be it, have a great month guys!
Have a good one!

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Uwe Jacobs Property Strategist

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