It is New Year’s Eve but minus the fireworks – or perhaps fireworks of a different less spellbinding kind.
June 30 spells the end of the financial year and like every year before I spend the last week madly scrambling about finalising payments, wondering why I didn’t put my health benefits bonus to better use and lamenting my personal bookkeeping qualities.
….and now she is here, June 30th, in all her glory.
Like all NYE’s I ponder my resolutions for the year ahead…
Yes, I will put every property expense into Xero/Excel as soon as it emerges, I will keep a better system of notes for all my properties, I will do my taxes asap so they don’t become a mental burden and I will review all of my interest rates across my portfolio and hassle lenders accordingly for a review.
Does this sound like you?
If you have a property portfolio be sure to match this with a good, actually make that, great, Accountant. Look into a depreciation schedule if you haven’t already done so, regularly review your properties. When was the last time rent was increased, is it past due?
Are you getting the maximum gain from your portfolio? Are you better off exploring different options – like a property management shake-up or a shift to short-term holiday letting?
When was the last time you refinanced, ever? never? What about assessing your ability to borrow again? What financial goals are you setting yourself for FY17?
It is only June 30th but this lady needs a drink…plus it is also my first anniversary.
On July 1st last year I stepped into this position and what a glorious year it has been.
Biggest warmest squishy hugs to the wonderful team at Property Women for your amazing support and to all of you in the greater PW community for your sass, spirit and enthusiasm!
Happy New Year,