Rental Property Checklist

Checklist with ballpoint pen. Close-up.

Checklist with ballpoint pen. Close-up.


Do you have an investment property that is rented out during the financial year?

  • Property address:
  • Purchase date:
  • Purchase price:
  • Your ownership share (%). The other owner’s name(s) & share %.
  • The first date that the property was rented:
  • Total number of weeks the property “available to rent”:
  • Do you receive a real estate agency’s “end of year financial statement”?
  • If youIncome includes: manage the property by yourself, you will be able provide summaries for all income and expenses related to the rental property.
  • Do you have a “depreciation schedule”? Please provide a copy from a licensed quantity surveyor if you have one.

Income includes:

  • Rental income (if it is commercial, excluding GST)
  • Water usages paid by the tenants
  • Bond refund collected by the landlord after tenant vacates
  • Insurance payouts
  • Other re-imbursed payments

Rental expenses you can claim:

  • advertising for tenants
  • bank fees
  • strata levies
  • cleaning costs
  • council rates
  • water rates
  • gardening and lawn mowing
  • insurance – building, contents and public liability
  • land tax
  • pest control
  • phone
  • property agent fees and commissions
  • stationery and postage
  • travel undertaken to inspect or maintain the property or to collect the rent

 More info: Guide to Depreciating Assets 2016