Victoria’s Commercial and Industrial Property Tax (CIPT) Explained for Investors
Victoria’s commercial and industrial property tax (CIPT) began on 1 July 2024. A qualifying property enters through an entry transaction, where the buyer pays stamp duty one last time. Ten years later an annual tax of 1% of site value applies.
Buying a Property With Existing Tenants: What Investors Need to Know
Buying a property with existing tenants can give investors an immediate rental income stream. It may also reduce the time and costs associated with finding a new tenant. However, an occupied property comes with existing agreements, responsibilities and potential risks. Before making an offer, investors need to understand the current lease, verify the rental income […]
What Is a Section 32 Vendor Statement, and What Should Buyers Check?
Buying property in Victoria involves more than inspecting a home and negotiating the price. Before signing a contract of sale, buyers should understand the property’s legal details, financial obligations and any restrictions that could affect how they use it. One of the most important documents to review is the Section 32 vendor statement, also known […]
Cooling-Off Periods When Buying Property: Rules Across Australian States
Buying a property is a major financial commitment. After finding the right home or investment, buyers may feel pressure to sign a contract quickly, especially in a competitive market. However, signing a contract can create legal obligations that are difficult and costly to reverse. A cooling-off period can give eligible buyers a limited opportunity to […]
What Happens When a Tenant Breaks a Lease Early in Australia?
A tenant may need to leave a rental property before their lease ends. They might relocate for work, experience financial difficulties or need to move for personal reasons. While these situations can be stressful for tenants, they can also create unexpected costs for property investors. When a tenant breaks a lease early, a landlord may […]
Landlord Insurance vs Building Insurance: What Does an Investment Property Need?
Buying an investment property involves more than securing a tenant and collecting rent. Investors also need to protect the property against damage, unexpected expenses, and interruptions to rental income. Insurance plays an important role, but choosing the right policy can be confusing. Building insurance protects the physical structure against specified events, while landlord insurance can […]
Special Levies in Strata Properties: The Costs Investors Often Overlook
An apartment may look like a strong investment on paper. The purchase price fits your budget, the rent looks attractive, and the regular strata levies seem manageable. But what happens when the building needs major repairs, and the owners corporation does not have enough money to cover them? This is where special levies in strata […]
Strata Records Explained: What to Check Before Buying an Apartment
An apartment can look like a great investment during an inspection. The location may be attractive, the interiors may look modern, and the asking price may fit your budget. However, the apartment itself only tells part of the story. When you buy a strata property, you also become part of a shared ownership arrangement. You […]
What Happens Between Signing a Property Contract and Settlement?
Finding the right property is a major step, but the purchase does not end when you sign the contract. Several important tasks still stand between signing and settlement. You need to organize finance, prepare funds, complete legal checks, and get ready to take ownership. This period can feel confusing, especially for first-time buyers and investors […]
Buying at Auction vs Private Sale in Australia: What Property Buyers Need to Know
Buying property in Australia involves more than choosing the right location and agreeing on a price. The way a property is sold can affect how you negotiate, the conditions you can include in your offer, the time available to complete your checks and the risks you take before signing a contract. Two common methods are […]