Start the Financial Year Strong: 5 Things to Review Now
If you own a commercial property, July isn’t just about wrapping up tax it’s a good time to stop and ask:
Is this asset still doing what it’s meant to?
For a lot of owners that come across to us the answer is: not sure.
Here’s a short list of what I recommend reviewing at the start of each financial year especially if you're self-managing or haven’t taken a proper look in a while.
1. Any Leases Ending Soon?
Take a moment to check when your leases expire and what your notice periods are. If you’ve got anything due in the next 6–12 months, now is the time to start planning.
You want to avoid scrambling at the last minute. Early conversations give you time to negotiate a renewal or prepare to re-lease if needed without risking vacancy.
2. Are You Recovering All Your Costs?
Outgoings like rates, insurance, and services often increase from July 1. Go back to your lease and make sure you're passing on everything you're entitled to.
You’d be surprised how often I find owners covering costs that should sit with the tenant just because no one's reviewed the figures or the lease properly.
3. What Needs Fixing Before It Breaks?
Maintenance can tend to fall into the “I’ll deal with it later” pile until it becomes urgent.
Now’s a good time to review any open maintenance items and think ahead. Regular servicing (air con, plumbing, pest) keeps tenants happy and can save thousands in emergency callouts later.
4. Are Your Rents Falling Behind?
Rents should be checked annually even if the lease doesn’t allow for a market review. Compare your current rates per square metre with similar properties in your area.
I have recently helped new clients identify that their rentals were between $75 and $150/m2 below market just because no one had looked at it in years. This can mean that there are not the funds available to pay for maintenance or improvements as rent is just covering the mortgage.
5. Big Picture: Is This Property Still Working for You?
Step back and ask:
Is this asset helping you reach your long-term goals?
Are you getting the return you expected?
Would you buy this same property again today?
If not, it might be time to rethink how it's being managed or whether it's time to upgrade, refinance, or offload.
Need a Hand With Any of This?
If your commercial property is starting to demand more than it gives back, give me a call and let’s get your property set up for a stronger year.
📞 0421 228 044
📧 [email protected]