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When do you pay your Landlords?
You can choose for us to pay you either fortnightly or monthly. Our mid-month pay run is on the 15th day of the month (or the next business day if the 15th day is a weekend or holiday). Our end-of-month pay run is on the 1st day of the month (or the next business day if the 1st day is a weekend or holiday).
When do I get statements?
We email monthly statements as part of our end-of-month processing. The full fiscal year statements are emailed as part of end-of-month processing on the first business day in July each year.
Is it worth paying for a tax depreciation schedule?
Yes – definitely. The tax benefits are typically in the tens of thousands of dollars over the duration of your ownership of the property. The Quantity Surveyors we recommend to create your tax depreciation schedule will create it for free if they don’t find savings in the first year alone that are at least twice the cost of their report. It’s hard to lose, don’t you think?
Is it worth ensuring my property is considered water efficient?
In Queensland, tenants can be charged for the water they use in a rental property if:
- the property is individually metered (or water is delivered by vehicle), and
- the property is water efficient, and
- the tenancy agreement states the tenant must pay for water consumption
To be considered “water efficient”, the property must meet these standards:
- Internal cold water taps, single mixer taps & showerheads have a maximum flow rate of 9 litres per minute
- Toilets have a dual flush function not exceeding 6.5 litres on full flush and 3.5 litres on half flush and a maximum average flush volume of 4 litres (based on the average of 1 full flush and 4 half flushes)
Most modern houses are already considered water efficient. You need only keep the receipts, packaging, warranties, manuals, etc, to prove it. To eliminate any doubt, we can arrange for a plumber to provide a compliance certificate for around $100 (assuming it’s already compliant). That will typically be paid for in just the first quarter of water usage that we bill the tenant on your behalf. So yes, it’s definitely worth ensuring your property is considered water efficient!
Can you pay my rates & Unity Water invoices for me?
Yes. Simply notify council &/or Unity Water to send their invoices directly to us & we’ll pay them on your behalf in the next mid-month or end-of-month pay run. Not only do you not have to worry about paying it yourself, it’s then included in your end-of-year financial statement, ready for you or your accountant to prepare your tax return.
And for Unity Water invoices, having us pay it on your behalf means we can invoice your tenants as soon as possible for their usage component of the costs.
How long do tenants have to pay their water usage invoice?
The RTA has issued a guideline that 30 days is considered sufficient time for tenants to pay their water usage invoices. We follow that guideline, alert tenants when a water invoice is issued to them and remind them when the 30 day mark is approaching. We then issue a breach notice on day 31 if the invoice remains unpaid.