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Clearance rates improve across lower auction volumes

August 03, 2020Emma Ryan

Preliminary figures show improved clearance rates across the combined capital cities for the week ended 2 August. ...

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Alexander Phillips

Year of Experience: 20

Support Staff: 3

Residential Properties Sold: 215

Total Value of Residential Properties Sold:

$ 522,477,791

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Have you experienced sexual harassment or bullying in the workplace?

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Total votes: 19
The voting for this poll has ended on: April 30, 2020
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What to expect when rentvesting

06 June 2017 Reporter
Rentvesting

First home buyers are rentvesting to enter the property market. Here are some benefits and costs rentvestors can expect.

ME’s head of home loans Patrick Nolan says rentvesting can give investors more options.

“As an investor, you have complete freedom of choice, within financial constraints, about where to buy,” Mr Nolan said.

“Your property doesn’t need to be close to work or family, so you can consider more affordable suburbs where you may not choose to live. Yet, these locations may still benefit from rising property values.

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“So far, so good. But where will you live? That’s where the ‘rent’ part comes in. Renting is sometimes cheaper than owning in a given suburb, and as a tenant you’re free to select a neighbourhood that meets your lifestyle preferences.”

Mr Nolan said a rentvestor’s rental income helps to cover the costs of an investment property, with the shortfall between rent and ongoing expenses claimable during tax time.

“This is what ‘negative gearing’ is all about, and it can also mean saving tax on your regular wage or salary – money that can go towards paying rent on the place you live in,” he said.

Furthermore, increases in investment property value can be used to buy a home in the future, and not just with the sale of the property, as some lenders may accept equity from a property as a deposit.

However, Mr Nolan warned rentvesting does have some costs attached.

“As a tenant, you won’t face maintenance costs on the place you live in. They’re the landlord’s responsibility. But as a rentvestor, you will be responsible for the upkeep of your own rental property,” he said.

Mr Nolan said rentvestors also need to be on top of ongoing expenses, such as insurance, rates and repairs, but these expenses may be claimed on tax.

The most important cost for rentvestors to consider is capital gains tax.

“Unlike an owner-occupied home, which is tax free, any profit you make on the sale of a rental place can be taxed,” Mr Nolan said.

“Knowing if rentvestment is the right choice for you can come down to crunching the numbers. But if it is, it can be a way to enjoy a slice of property market gains while still living in your preferred suburb.”

 

What to expect when rentvesting
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