Click frenzy! Tools to help manage rentals

This article was originally published on 17/02/2020 and was reviewed and updated accordingly on the above date. 

There’s no denying that there is a lot of information available about owning and managing investment properties. But with so much choice, what are some of your best options for reliable info and useful tools? 

Whether you’re a self-managing landlord, or professional property manager, access to accurate information and the right tools can be invaluable. There’s no shortage of websites and tools available, the key is finding ones you can trust. Here’s a selection.

Show me the money!

If you want to know the tax implications of owning an investment property, go to the source.

• The Australian Tax Office website has detailed information about renting property including what is considered a rental (including Airbnb), what expenses you can claim as tax deductions and under what circumstances, what income must be declared, negative gearing and capital gains tax. While your tax agent should be a full bottle, it doesn’t hurt to familiarise yourself with the details.
• Information about finance, mortgages, interest rates and the like are best sourced from your financial institution (bank, credit union etc.) or mortgage broker. Sometimes the information that is found online is provided by businesses with a vested interest. Financial institutions and mortgage brokers have strict regulations and protocols they must adhere to when providing financial advice.

Landlord insurance made easy

Look no further than EBM RentCover! Our RCPLive portal for agents helps manage all of your insurances in one place with tools to:

• Find the right cover and apply, review and cancel policies. 
• Manage policies, keep track of invoices, request paperwork and training.
• View claims history, submit, track and cancel claims.

Self-managing landlords can tap into our online services too, including our easy-to-use payment platform and claims portal.

Just the facts

When you want information about the state of the investment property market, aside from reading our monthly updates in the Info Centre, you should look for reliable sources.

• CoreLogic provides market data and insights. It also offers useful tools for the industry and owners such as calculators.
• SQM Research compiles monthly vacancy and weekly asking rents data.
• The ABS is the go-to site for statistical information such as loan approvals and building data. And if you are interested in stats and info for the housing market, check out the resources from the HIA.
• Realestate.com.au provides suburb profiles and data. Domain also offers market insights.

In my opinion…

Facts and figures, demographics and trends are useful, but sometimes you might want some informed commentary around those numbers and what is happening in the market.

• The Real Estate Institute of Australia and its state and territory branches have their finger on the pulse.
• The Real Estate Conservation is a hub for news.
• Property Investment Professionals of Australia provides news and information.

All together now

Don’t have time to hunt down all the news? There are websites you might look to.

• Smart Property Investment (our MD is a guest contributor) and Your Investment Property are well-known sources for property owners, while Elite Agent and Real Estate Business provide agents with up-to-date news (we contribute to these publications too). 

At EBM RentCover we offer more than landlord insurance – we offer proactive customer service and support. We want your property investment experience to be as stress-free as possible, so when we find an app or a tool we think you might find useful, we’ll share it with you (check out the Technology Insight section in our monthly round-up published on the Info Centre).

*While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you need us we are there, contact 1800 661 662 if you have any questions.