“PAYING THE BILLS” – Should my property manager pay the bills on my behalf?
Organise your property manager to pay bills on your behalf from the incoming rental income. This will assist you at the end of the financial year, as all expenses paid by the property manager will be outlined on the end of financial year statement you will receive.
This will assist your accountant when it comes time to organise your tax and any money spent on the property can be claimed. Most importantly it will save you time.
Ensure you ask the relevant organisations to direct any regular invoices to the property manager e.g. owner’s corporation fees, water rates, council rates and land rates and taxes. Water usage is payable by the tenant provided the water is separately metered. If it isn’t, the landlord must pay for this.
Posted: Tuesday, 27th October 2009 at 3:52 pm
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