Tips for First Time Property Investors

Considering buying an investment property for residential tenancy or short-term holiday rental? Here’s some crucial points to consider:

Financial Advice: Always get professional financial advice about rental implications. The right advisor will ensure you have all your tax obligations covered, work with you on a long-term financial strategy and can explain more about investment property financing.

Insurance: As a landlord it is essential to safeguard yourself and your asset with relevant insurances. These can include building, landlord and contents insurance. Insurance helps to protect you from financial losses caused by tenant damage, loss of rental income, liability claims, and unexpected events like fire, storms, or vandalism. It provides peace of mind by covering costly repairs and legal expenses, ensuring your investment remains secure and profitable.

Minimum Housing Standards: In South Australia, minimum housing standards ensure rental properties are safe, secure, and meet basic living requirements, including structural integrity, sanitation, and electrical safety. As an investor, complying with these standards helps attract quality tenants, avoid legal issues, and protect your investment. Before purchasing a rental property, assess its condition and potential upgrade costs to ensure it meets these requirements and remains a viable long-term asset. To learn more about minimum housing standards visit https://www.housingsafetyauthority.sa.gov.au/minimum-housing-standards

CE Property Rentals is dedicated to staying up to date with tenancy laws and regulations, ensuring you receive expert guidance every step of the way. We’ll help you navigate the rental process smoothly and position your investment property for success. Give us a call on 0428 972 871 or send us a message via our web contact form or email.