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What is “Rentvesting”?

March 6, 2019 by Karina Lomanova

“Rentvesting” is one of the biggest terms within the property market which has come up within the last 12 months. The idea is people continuing to rent but while purchasing an investment property. This is particularly popular within the areas of Sydney and Melbourne with property prices being somewhat unobtainable to some.

These are helping many people get into the housing market, which is something that many people fear that they will not be able to reach. However, there are still many people trying and wanting to reach the Great Australian Dream, so something must give.

There can be many benefits of doing this, from lifestyle improvements to tax incentives.

Lifestyle:

Many people prefer to live closer to the city of their choice, to enjoy shorter commutes to work as well as being close to the amenities in these areas. However, houses in the outer suburbs or even other cities are significantly cheaper than trying to live within a 10km radius of the CBD.

Tax incentives:

When you rent your home as opposed to buying, you can then claim many costs involved in your tax. These include management fees, advertising fees, depreciation, maintenance/repairs, interest on your home loan etc. With the benefits of tax incentives, this can save you money as compared to be an owner-occupier.

Equity Benefits:

By using the purchase of a home to develop equity, this means that people are able to then in the future purchase a home in their desired location as well as chosen condition.

Due to the above reasons, this culture of “rentvesting” has increased. There is an estimated 1 in 3 first home buyers opted to invest in property while renting (2016, PIPA).

This trend looks like it is here to stay. More people are learning the benefits that this can give you in achieving both short and long term goals.

Filed Under: Landlord Tips, Tenant Tips Tagged With: real estate, renting, rentvesting

How to Have Rental Application Success

December 7, 2018 by Karina Lomanova

Moving home is a very stressful time with the organising of movers, packing your belongings and trying to organise new connections. Combining this with the ever-competitive rental market in Melbourne and it can be very overwhelming.

To limit the issues which arise – have a read of our handy tips below to make sure that you have the best chance of having application success!

Having all documentation ready:

Ensure that you have your 100 points of ID, correct references and a complete application form ready. This ensures that we can process your application as fast as possible.

Attending the Open Home Inspection:

It is essential to view the rental property before applying, so you can confirm that it is the perfect home for you. Don’t forget to register for the inspections so you can be advised of any changes which may occur.

Review your information:

We perform a few main checks for each of our properties including personal/professional, employment and rental references. Please ensure that your nominated references can provide us with information and are aware that we are going to call!

We always aim to have each application processed within 24 hours, as we understand that the moving process is stressful. Ensuring that you have provided the correct information means that we can get you into your new home sooner.

To see a list of our available properties – click here! 

Filed Under: Tenant Tips

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Email:southmelbourne@imageproperty.com.au
Postal Address:PO Box 1342,
South Melbourne VIC 3205

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Image Property Melbourne
  • Landlords
    • Owner Portal
    • The Image Property Difference
    • Manage my Property
    • Additional Landlord Benefits
    • Frequently Asked Questions
    • Get a Rental Appraisal
    • Request a Property Health Report
  • Renting
    • Request Maintenance
    • Search Homes for Rent
  • About Us
    • Meet the Team
  • Articles
  • Contact Us