Due to new jobs interstate, myself and my fiance are moving within the next few weeks and will rent out our PPOR.
What is a quick checklist of things we need to take care of?
Obviously, an agent and quantity surveyor are required… what else?
AN INDEPENDENT VALUATION!!!
As it is your PPOR you are entitled to rent it for up to a maximum of 6 years and still be CGT exempt should you sell during this time. However, you will need to know what it was worth (to calculate the cost base) at the time you moved out (market value) hence I suggest you make this a priority. It certainly can be done later down the track, but why not do it now, get it out of the way, and save yourself some money which may have to be paid to a valuer needing to research what the prices were X years ago when you moved out.
Hope this helps.
Jo
Is a valuation thru an agent sufficient or do I need a professional valuer?
That would read “professional valuer”.
Cheers
C@34
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