Congratulations on the purchase of your investment property through Property Club and thank you for choosing us to support you on your investment journey. Now that your Club property has settled, we encourage you to use the checklist below which provides handy hints for newly settled properties.

Finance & Cash Flows
Do you have a good understanding of your finance structure, line of credit, and how it impacts your cash flow?

Understand the repayments required for both your Investment Property Loan and your Line of Credit if you have one. For important tips on managing your line of credit click here.

Refer to your Cash Flow Analysis Printout provided by your Property Mentor. This will help you monitor what you expect to flow into and out of your Property Management bank account and ensure that your identified ‘cash flow shortfall’ is transferred into your account. If you have any queries contact your Property Mentor.

PAYG tax variations
Have you filled out an Income Tax Withholding Variation Form (ITWV) for the current tax year?

Some members utilise this to reduce their tax each pay period (for PAYG wage earners). It can take up to six weeks before your ITWV is processed by the ATO and your employer notified of the reduction in your rate of tax. Use the Quantity Surveyor’s depreciation schedule (ordered upon settlement) to complete your ITWV.

If you are self-employed you need to consult your accountant for advice on claiming tax relief through PAYG (Pay As You Go) arrangements.

Your Property Mentor can provide you with information to assist you with the completion of this form for the ATO.

Maintenance warranty on your PC property
Have you asked your property manager to keep an eye out for any maintenance that may be required on your property?

The maintenance warranty period for a new property is typically up to six months from the ‘issue of titles’ date. You will need to confirm the warranty period for your new property with your Property Mentor.

Your property manager can inspect your property within the maintenance period and liaise with the builder to arrange any required repairs.

If outside the warranty period, any maintenance required will have to come out of your own pocket. This is why it’s important to identify any maintenance requirements before the warranty period ends.

Insurance
Have you taken out the relevant insurances on your investments?

This is a necessity. Generally there are three different forms of insurance which may apply to your situation:

• Landlords protection;

• Building/contents; and

• A range of personal insurance options such as income protection

Stay in touch
We are here to provide you with ongoing support. We encourage you to contact your Property Mentor to discuss leveraging this investment for your next purchase, and managing your portfolio as it grows. Your Property Mentor is also here for you should you have any queries or concerns.

As a reminder, your Property Mentor’s contact details are: Bob Dylan bob@dylan.com 0404040404