2020 is here and what better time than now to start managing your property portfolio a priority. Take the time to ensure that you are on top of your property portfolio by ensuring that you have an experienced real estate agent managing the buying and selling of your properties and corporate rentals.
What you need to keep in mind...
Determining your Capital Gains Tax when Selling
It is important that you, as an investment property owner, always maintain an up to date schedule of improvement expenditure on your rental properties, as well as a list of all expenses pertaining to the sale of the property. The total income will be reduced by the annual expenses to determine the net rental income and subsequently the investment value of the property. Should you choose to sell the property, these expenses can be deducted off your Capital Gains Tax.
Vetting your Tenant and Why you need an Experienced Real Estate Agent by your side
While you could find your own tenant, it is the process of intensive vetting that ultimately becomes time-consuming and costly. Therefore, it is well worth it to enlist the services of a professional real estate agent to assist with the vetting of potential tenants when renting out your property. This will ensure that your investment is protected and ultimately secure the tenancy for the duration of the lease.
It is vital that performance-based guarantees from a financial institution are obtained, which protect Landlords from the repercussions of defaulting tenants, especially as an eviction order is a costly exercise which should be avoided at all costs. After all, the default of a single month's rental is sufficient to change one's investment in terms of a healthy return.
At Hamiltons our expert real estate agents and rental department utilise the most stringent credit systems in order to mitigate our clients' potential threats and protect your investment.
If you're looking for an expert real estate agent to assist you in renting out your property, contact Hamiltons today.
Read our previous article here
If you are looking at the property market to buy or sell, don't hesitate to get in touch with us!
Contact Hamilton's Property Portfolio on 011 463 0155 or mail to firstname.lastname@example.org.