BLOG

Wrapping Up Your Purchase: 23/08

August 23, 2018

Hi Luke,

 

Congratulations again on your purchase of 507 Lyons St South, Ballarat Central.

 

Below we have listed a couple of important details and contacts for you with regards to your property. Sorry for the long email! 

 

Quantity Surveyor:


• As your purchase is an investment, there will be tax deductions that you will be able to claim when you start paying tax in Australia again. In preparation for this, you will need a full tax depreciation schedule. A qualified Quantity Surveyor is required to facilitate this and we recommend BMT, the cost is about $700 inc. GST, which is 100% tax deductible also. We can arrange this for you if you like? 

 

Finance: 

 

• Mortgage: Your first mortgage payment would have been the 6th of August and then the 6th of each month thereafter, being $1,150.74.  

 

• Rent: Your rent will be deposited into your account on the last business day of each month, being $987.00 (rent less property management fee) and will also be minus any property bills.

 

• Income Tax: As the property is negatively geared (expenses outweigh rent) you will not be taxed on the rent received. You will need to work with an Australian tax accountant to lodge a tax return each year. 

 

• Land Tax: The property falls under the Victorian land tax threshold of $250,000. You will not be charged land tax until the unimproved land value rises about this threshold. I recommend you contact the Victoria Office of State Revenue on sro@sro.vic.gov.au. Please give them the authority to send any land tax letters to Trevor Petrie Real Estate for processing. 

 

• Council Rates: This bill will be sent quarterly and should be $358.45. As per Rod's email you will need to email the city of Ballarat Council on info@ballarat.vic.gov.au and give authority for the rates to be sent to your property manager for payment from the rent.  

 

• Water Rates: As above, this bill will be sent quarterly, you pay for the connection and the tenant pays for the consumption. Trevor Petrie Real Estate will work this out and charge the tenant the appropriate amount and pay the bill on your behalf, and deduct your portion from the rent. You will need to email Central Highlands Water on customer.enquiries@chw.net.au and give authority for the water rates to be sent to your property manager for payment from the rent.   

 

Email for Land Tax, Council & Water Rates: 

 

To whom it may concern:

 

I Luke Hickey of 507 Lyons St South, Ballarat Central 3350, hereby authorise Rob Walker of Trevor Petrie Real Estate to act on my behalf. Please forward all future correspondence to this email address: rod@trevorpetrie.com.au 

 

• Electricity, Phone, Internet, and Cable are taken out in the tenant's name and paid by the tenant. 

• Trevor Petrie Real Estate will supply monthly and yearly statements for your records and tax purposes.  

 

Property Management:

 

• Your property management company is Trevor Petrie Real Estate and the property manager is Rob Walker. You will find his contact details in your property contact spreadsheet. 

• The first inspection will be on the 26th of October and every six months thereafter.  

 

Tenant: 

 

• The current tenant, Christine Murray lives in the property and has a fixed lease until the 28/07/19, paying $250/wk. 

 

Maintenance:


• As you are planning on renovating the property we don't advise to any maintenance. Simply attend to any items that come up.  

 

Insurance: 

 

• You have a 12-month Building and Landlord insurance policy with Terri Scheer until the 8th of June 2019 and this has been paid in full. 

 

Property Contacts: 

 

• Click here to view your property contacts phone numbers and email addresses. 

 

Property Paperwork: 

 

• I will provide a consolidated folder with all your property paperwork correctly filed. 

 

Experience Survey:  

 

• You will receive an email from us with a link to our experience survey. We really value your feedback and take all comments onboard. 

 

Reviews:  

 

• Reviews really help our business and if you enjoyed working with us we'd love if you could leave a review on our Facebook page and Google. If so simply click on each of the links and follow the prompts. 

 

Referral Offer ;) 

 

• If you enjoyed working with us and refer any family or friends we offer a $1,000 referral fee when they engage our services.  

 

Please let us know if there is anything we have missed or you would like more information on? It would be great if we could organise a call to talk through this email in detail?

 

Thank you once again for commissioning Milk Chocolate to purchase your investment property. We have really enjoyed working with you as has the team. We're looking forward to working with you on the renovation. 

 

Thanks, Michael & Richie  

Please reload

Featured Posts

Hi Luke!

Exciting times, we're on the path to finding your investment property!

As we mentioned, your bespoke website contains a blog to keep you update...

Welcome to your Milk Chocolate Blog

June 5, 2017

1/1
Please reload

Recent Posts

March 13, 2020

March 8, 2020

March 2, 2020

February 19, 2020

February 11, 2020

February 3, 2020

January 20, 2020

December 19, 2019

December 13, 2019

December 8, 2019

Please reload

Archive
Please reload

If you have any questions and/or feedback, please contact me using the button below: