Pre-rental and setup costs
Inspect first, then prioritise work that affects safety, legality, function and accurate presentation. Cosmetic spending should not displace required work.
- Safety, minimum-standard and repair work
- Cleaning, gardening and presentation
- Photography, floor plans and advertising
- Insurance changes and professional advice
- Locks, keys, compliance checks and documentation
Recurring owner costs
- Council rates and applicable strata or owners-corporation charges
- Landlord insurance premiums and excess exposure
- Owner-paid utilities or service charges
- Routine maintenance and servicing
- Management, software, accounting or record services
Variable and event-based costs
- Vacancy between tenancies
- Letting and re-advertising work
- Urgent and major repairs
- Damage not recovered through insurance or bond processes
- Dispute, tribunal or legal support
- Travel or local support for a remote property
Create a cash-flow view
Place expected rent and owner costs on a monthly timeline. Add a vacancy scenario and a large-repair scenario. Keep a reserve that can fund urgent action, because legal repair obligations do not wait for a convenient cash-flow month.
Tax and finance boundaries
Interest, expenses, depreciation, ownership structure and capital gains can have material tax consequences, but the treatment depends on the owner and property. Keep invoices and transaction records, then use an appropriately registered adviser.
Sources and further information
Official guidance changes. Check the source for the current rule in your jurisdiction.