We are now seven months into the financial year, and tax time will be upon us very soon. Now is the time to do a mid-year stocktake on your investment property. After all, the end of financial year is only another five months away. Take time to review your investment property and ensure that you have all your rent statements in order. Do you have copies of all your outgoings and invoices? Do you have a copy of your lease agreement and are your insurances up to date? Are council, water and strata paid and not overdue?

By doing a six monthly stocktake on your investment property you will avoid the last minute rush at the end of financial year which costs you time, dollars and creates undue stress when searching for documents needed by your accountant. Staying on top of repairs and rent payments at this time of year gives you peace of mind during the New Year period.