Being a landlord involves more than just collecting rents and maintaining the property. Pamela Yardney, director with Metropole Properties, outlines what every landlord needs to know about their rights and responsibilities.
There are many reasons why homeowners may choose to change their current principal place of residence (PPOR) into an investment property. Perhaps they are looking to upgrade to a larger – or perhaps downsize to a smaller – model, and wish to retain the original property as an investment, or maybe they have been geographically relocated due to work obligations. Regardless of the reason, there are numerous factors that homeowners, and subsequent investors, should be aware of when making the switch, especially in regards to tax.