Landlords can save a little bit of money on Sydney Water expenses every year.
Reece Sammons, our Head of Property Management breaks things down in this video!
We all know that the water is included with the rent. However you may not know that detached houses and some apartments in more modern buildings have separate water metres. In this case, you can actually pass on the water usage charges to your tenant. Obviously the fixed charges remain the same, and landlords have to pay this component themselves. But they can claim these expenses back on their tax at the end of financial year.
But before you can actually pass costs along to the tenant there a couple of mandatory things you have to have in place.
A Functioning Water Meter
You have to have a function in water metre that keeps track of the tenants water usage. You have to make sure that your property has all leaks repaired so that there’s no water being wasted.
Water Saving Devices
You have to have special set water saving devices fitted to all your taps inside the property, which restrict the flow of water to under 9 litres per minute when the water is turned on. there’s a lot more than I can say about this but so obviously not going to go into further detail today if you have any further questions please give me a call I’m always here to help.
Really your whole property management service should be designed to protect you from avoidable costs and maximise your return.