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Wrapping Up Your Purchase

March 25, 2019

Hi Fiona,

 

Congratulations again on your purchase of 60 Doorey St, Keperra

 

Below are the important details and contacts.

 

Quantity Surveyor:

 

  • As per Braddon, I recommend you get a full tax depreciation schedule. Would you like me to arrange this through BMT again? The cost is approx. $770 inc. GST, which is 100% tax deductible.  

 

Finance: 

 

  • Rent: Your rent received each month is $2,166.67. This will be deposited into your nominated account on the last business day of each month, being $1,985.42 (rent less property management, 8.37%/$181.25). Also, less any property expenses/invoices that will be incurred from time to time.  

 

  • Income Tax: As the property (and your portfolio) is negatively geared (expenses outweigh rent) you will not be taxed on the rent received. 

 

  • Land Tax: As per the last valuation, the unimproved land value of the property is $340,000, attracting $0/year in land tax duties.  

 

  • Stamp Duty: This was paid via Ramsden Lawyers on settlement. 

 

  • Council Rates: This bill will be sent yearly and be approx. $1,503.96/year, however, you can elect to pay quarterly.  

 

  • Water Rates: This bill will be sent quarterly and be approx. $754.32. 

 

 

Property Management:

 

  • Your property management company is Coronis and the property manager is Kate Green. You will find her contact details in your property contact spreadsheet.

 

Tenant: 

 

  • The current tenants are Hayley and Marc West. They have a fixed term lease until the 13/03/20, paying $500/wk.  

 

Insurance: 

 

  • You have a 12-month building, contents and landlord insurance policy with IAL until the 12th of February 2020 and this has been paid in full. 

 

Property Contacts: 

 

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

 

Property Paperwork: 

 

  • On your data page is a consolidated folder with all your property paperwork. 

 

Experience Survey:  

 

  • On your blog is a link to our experience survey. We really value your feedback and take all comments on board.

 

Reviews: 

 

  • Please feel free to leave another facebook/Google review if you time. 

 

Referral Offer ;) 

 

  • Thank you so much for your continued referrals! We will continue discounting your fee for each successful referral.   

 

Please let me know if there is anything I have missed or you would like more information on? 

 

Thank you once again for commissioning Milk Chocolate to purchase your investment property. Richie and I have really enjoyed working with you as has the team. We are really excited to continue with purchase no. 3.  

 

Thanks, Michael 

 

 

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Hi Fiona,

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