On a $300,000 home, what would the average rent be. I know all are different for 300,000. But what would the average.
Also how much in tax deductions would you get if you had a 270k loan and about a 20yr old house. I cannot calculate anything.I don’t need precise answers. Just like estimates(educated ones though).
Unfortunately thats impossible to answer without more details. Depending on where the house is, you could get between $200 and $550 per week, and possibly even greater variance.
As a rough idea, if the house was built post 1985, you should be able to claim capital allowance (2.5% annually of the building cost) plus depreciation on fixtures and fittings. How much depends on the value of each, and is usually best worked out by a quantity surveyor. In addition, all legitimate expenses in owning the house are deductible – agents fees, rates, insurance, repairs, interest on loan etc. How much you benefit from the deductions depends on your income. The higher the income, the higher the tax bracket and the greater the benefit. The lower the income, the lower the deduction.
Wake
Just as a quick (very) rough guide, take the middle price of $200 to $550 per week and say that a $300,000 can rent for ~$300 per week, that would make it around 5% gross rental income which is kind of average for todays market.
THERE ARE HUGE MARKET VARIATIONS AND YOU NEED TO COMPARE RENTS IN AREA, DONT RELY ON ABOVE!!!
Investment Property Management
http://www.adprop.com.auThanks. That confirms my idea that the most common, like average could be ~$300. Though it can be much higher and lower.
Thanks.
The $200-$550. hmm. What are some tips to reach that higher region, nearing $400-550.
I’m only looking at residential property investing. And at the moment only houses, like no flats or apparments.Houses obtaining premium rents are those that are in better areas, upgraded and provide features that tenants want.
Keep it looking good, make sure it is secure and maybe throw in a service ie gardening included. I have used this before with great success. You can increase the rent to a greater amount that you pay for the gardening service, then claim the gardening as a tax expense too [biggrin]
all the best!
Investment Property Management
http://www.adprop.com.augreat idea Dr.X. thats great, like charge em 50% more for it and with your tax deductions you only pay half so your like double cashing in, and its like providing them with a service. Great.
Ok good locations. Um, im a local blacktown resident. I would like to buy local, which suburbs around and in the blacktown district are good. (ive heard that st marys and mt druitt are bad, and i personally agree).
Christopher.
You must have had some vague idea about location. I tend to use the rentals section at realestate.com.au to get a good idea of rents. Extras like air cons, dishwashers, back decks or pegolas bring in greater rents.
goodluck
Thanks Milly. Ok, all things that can help bring my rent up, and also some of those things may not even add to the value of the property when i buy.Though ill charge extra rent.
Hmm, with location. I think ill give that website a go, and check around. I want it to be very close to me, but also in a nice place.
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