EOFY Checklist: 7 Things To Do As An Investment Property Owner

EOFY Checklist: 7 Things To Do As An Investment Property Owner:

As an investment property owner, chances are you’re already knee-deep in receipts, statements and reports for your accountant. But while you’re in admin mode, EOFY is also the perfect time to zoom out and do a full check-in on your property’s performance.

Is your rental income where it should be? Could your loan be sharper? Are there deductions you’re missing — or opportunities you haven’t yet explored?

Here’s a practical EOFY checklist to help you close out the year on a strong note — and position yourself for even better returns in the year ahead.

1. Review Your Property Income and Expenses:

Start with a clear breakdown of your rental income and all property-related outgoings. These might include:

• Property management fees
• Council and water rates
• Repairs and maintenance
• Landlord insurance
• Strata or body corporate fees

Having everything in order not only helps your accountant — it also gives you a real-time snapshot of how your investment is performing.

Sharp Tip: Compare this year’s figures to last year’s. A subtle increase in costs or dip in income can highlight issues worth addressing before they impact long-term returns.

2. Don’t Miss Out on Depreciation Deductions: 

Depreciation is one of the most powerful (and often overlooked) tax deductions available to property investors — and EOFY is the perfect time to check you’re claiming everything you’re entitled to.

What is depreciation? It’s the natural wear and tear on your property and its contents over time. The ATO allows you to claim this decline in value each year, which helps offset your taxable income.

To claim depreciation, you’ll need a tax depreciation schedule prepared by a Quantity Surveyor. Even older properties may qualify — especially if renovations have been completed. There are two types, and it’s best to discuss these with your accountant and a Quantity Surveyor.

Sharp Tip: If you don’t have a depreciation schedule in place, it’s not too late. We can connect you with trusted professionals to help you maximise your claim this year and beyond. Reach out to our team today.

3. Get a Current Market Appraisal:

You don’t have to be selling to benefit from understanding your property’s market value. A current appraisal can help you:

• Measure capital growth
• Track performance against your strategy
• Understand your equity position
• Plan your next move

Even modest gains in value can present opportunities for refinancing or expanding your portfolio.

Sharp Tip: Request an appraisal from someone with real local insight. At Sharp Property Buyers, we connect with on-the-ground agents and offer annual check-ins to our clients in order to help assess value shifts, rental potential and growth opportunities.

4. Review Your Loan Structure (and Check Your Equity Position): 

While you’re sorting through financial paperwork, it’s a smart time to review your loan with your mortgage broker. Interest rates and lending products have likely changed in the past year, and you might be paying more than you need to.

Ask yourself:

• Is my current interest rate competitive?
• Am I on the right structure — fixed, variable, or split?
• Has my property increased in value?
• Could I use equity to invest again?

Many investors don’t realise they’re in a position to leverage their equity — especially after a few years of ownership or strong market growth.

Sharp Tip: Don’t just review the loan — review your leverage. Even a small increase in value could make you eligible to buy again. For a deeper dive, check out our blog post: Understanding Equity in Property and How to Use It to Buy An Investment Property. 

5. Reassess Your Insurance Cover: 

EOFY is the perfect time to review your landlord insurance and building cover — particularly if your property has appreciated in value, your tenant situation has changed, or you’ve completed renovations.

Sharp Tip: Make a habit of reviewing your policy every 12 months — not just when it comes up for renewal. A quick call to your insurer could improve your cover and your premium.

6. Evaluate Your Rental Return and Tenancy: 

While you’re compiling rental statements for your accountant, take a moment to assess the bigger picture:

• Is your rental return still in line with the current market?
• Is your tenant likely to renew — or are you facing a vacancy soon?
• Are there any maintenance issues or hidden costs creeping in?
• And importantly — is your property manager still delivering the level of service you expect?

Now is the time to have a proactive conversation with your property manager. They should be providing regular rent reviews, market comparisons, updates on tenant feedback and timely responses to any issues. If they’re not — it might be time to reconsider. A good property manager is worth their weight in gold. They’ll protect your asset, maximise returns and ensure your investment is working as hard as it should.

Sharp Tip: In low-vacancy areas, a rent increase may be well within reason — even a modest one. Work with your property manager to find the right balance between profitability and tenant retention.

7. Set Clear Goals for the Year Ahead: 

EOFY isn’t just about closing out the books — it’s a great time to think about what comes next. Consider:

• Is now the time to grow your portfolio?
• Do you want to diversify into new markets or property types?
• Are your current properties aligned with your long-term lifestyle or retirement goals?

EOFY is the perfect annual nudge to zoom out and make sure you’re not just ticking boxes — but actually building wealth.

Sharp Tip: Book in a strategy session with our team to map out the next 6–12 months. Whether you’re looking to invest again, restructure your portfolio, or simply get more clarity, our team is here to support you.

Ready to Make the Most of the New Financial Year?

We check in with our clients at key milestones throughout the year — and EOFY is a perfect time to pause, reflect and plan ahead. From performance reviews and equity assessments to new property opportunities, we’re here to help you make confident decisions.

Invest with confidence. Grow with strategy. Succeed with Sharp Property Buyers. 

The information provided is for general purposes only and does not constitute financial advice. While past results and case studies are shared as examples, they are not a guarantee of future performance. Property markets are subject to change, and individual outcomes may vary. We recommend seeking independent advice before making investment decisions.