2024-2025 Financial Year in Review – A Big Year in Property Management
As the financial year comes to a close, we reflect on a truly dynamic year in property management across NSW.
From shifting rental trends and legislative changes and the upcoming EOFY process, we reflect on the year and provide some reminders for the months ahead.
A Snapshot of our Highlights
Leased Properties
We successfully leased 223 properties this year, connecting great tenants with homes. Our average days on the market remained low at 10.6 days, a testament to proactive leasing and quality marketing.
Tenant Applications
With over 1,355 applications received, we ensured every prospective tenant was thoroughly screened for peace of mind and long-term success.
Routine Inspections
We completed 1,318 routine inspections, prioritising preventative maintenance and tenant satisfaction. Clear communication and detailed reports have helped ensure all properties remain in top condition.
Open Homes
Our team conducted 927+ open homes, with strategic scheduling and digital advertising helping us reach a wide and diverse tenant pool.
Industry Update: Key Changes in NSW
Rental Reforms:
NSW introduced key rental reforms including;
"No Grounds" Terminations: Landlords are now required to provide a reason to end a tenancy, eliminating "no grounds" evictions.
Pet Ownership: It is now unreasonable to refuse a pet in a rental property.
Rent Increases: Rent increases are limited to once per year for all lease types.
A final update, as the financial year come to a close, please also take some time to remember;
EOFY Checklist for Landlords
Here’s a quick checklist to help you stay on top of your financial and compliance obligations:
- Review your income & expenses – Your end-of-financial-year statement will be generated and issued first week of July.
- Update maintenance plans – Consider pre-scheduling larger works for the new financial year, little upgrades as you go can save thousands down the road.
- Review your landlord insurance – Double check your policy and ensure your insurance is u p to date.
- Talk to your accountant – Maximise your deductions and plan your property strategy for FY2025.
- Update Your Depreciation Report- If you haven’t updated your depreciation schedule recently- or if you've made improvements or renovations- now is the time
Need help with any of the above, please reach out to our team to assist you.