Whether you’re a Property Manager, Landlord or Tenant – getting EOFY details right is vital to ensuring a streamlined process for all involved! In today’s blog, the Think Property & Co team offer tips to help make the EOFY season #BetterForEveryone, along with an update of our practices in response to COVID19.
Our EOFY Tips:
For Landlords – EOFY reports will be sent 2/7, once we have completed our End of Month (EOM) procedures. Our statements have accounts and deductions attached each month, and the full annual report provides a thorough snapshot of the year’s income and expenses which accountants love.
For Property Managers – If you are compliant in your trust account management, you have nothing to do! Focus on providing landlords with their EOFY reports on the as soon as practical in the new financial year.
For Tenants – Get the shoe boxes of receipts out and be prepared! Check your bank statements for missing receipts and consider all COVID19 tax relief options including small business relief or home office deductions.
What measures are the TP&Co team taking in response to Melbourne’s pandemic lockdown restrictions?
TP&Co are monitoring the COVID-19 changes very closely and adapting our internal practices to suit. As we are a small office, we are nimble and have the ability to move quickly as rules and regulations continue to change. We are not conducting site visits to ‘hotspot’ suburbs, and we strongly encourage those who reside within the identified areas to abide by the rules to best protect our communities.
We are maintaining our existing thorough cleaning process of properties both before and after each inspection. Our team requests prospective tenants do not touch surfaces, and wear a mask or gloves where possible.
Whilst routine inspections have slowed down due to COVID, we are continuing to conduct inspections virtually via Zoom or our app, Inspection Express – which have both had great feedback from our community.
Property Leasing Update: If a prospective tenant feels uncomfortable or hesitant about visiting a property, the TP&Co team will complete an in-depth, virtual tour of vacant homes using a variety of streaming options including Zoom, FaceTime, Skype, video recording, etc.
If you are feeling unwell, please contact our team to reschedule your inspection for a later date. We are fortunate to work with a paperless administrative system and will remain available online and via mobile, should our clients need to contact us!
At TP&Co, our staff, client and community wellbeing is the highest priority. We will keep you updated as circumstances change. In the meantime, please don’t hesitate to contact our friendly team with any enquiries or requests.