New Financial Year Checklist: What Property Investors Should Review

Bianca Mccann Posted on 23 Jun 2025

The start of a new financial year is the perfect time for property investors to assess their financial standing and review their investment strategies. This is essential for effective planning and future success, regardless of portfolio size.

We covered financial organisation basics in our previous blog in August last year, but this time, we’re focusing on what to review specifically at the start of a new financial year.

Please note: This blog is general information only and does not constitute financial advice. We recommend seeking professional guidance from a qualified accountant or financial advisor.

1. Review Rental Income and Expenses

Instead of hindering your financial goals, your investment property should be aiding them. Start by reviewing:

Total rental income vs. forecasts: Did your property generate the expected returns?++
Unexpected costs: Repairs, vacancies, or upgrades that may have affected profitability.
Tax-deductible expenses: Ensure all eligible costs are recorded correctly.

Tip: If you’re with Iconic Realty Group, we provide a full end-of-financial-year summary to make this process easier.

2. Reassess Your Investment Goals

Markets fluctuate, interest rates fluctuate, and your financial situation may change. Now is the time to ask:

Are your investment goals still realistic?
Do you need to adjust for inflation or changing interest rates?
Is it time to grow your portfolio, renovate, or refinance?

3. Check Loan and Interest Rate Structures

Your mortgage plays a huge role in your investment’s profitability. Review your:

Interest rate: Is it still competitive?
Fixed vs. variable loan structure: Does it suit your risk profile?
Refinancing opportunities: Speak to a broker or advisor to explore better deals.

4. Depreciation Schedules

If your property has had upgrades or additions, you may be able to claim depreciation.

Ensure your quantity surveyor’s report is updated.
Maximise tax deductions by claiming on eligible property improvements.

5. Insurance Policies

Don't wait until it's too late to get insurance. Review your:

Landlord insurance: Is your policy still relevant to your needs?
Coverage for floods, cyclones, and tenant-related risks: Especially essential for Queensland property owners.
Premium changes: Have costs increased, and is it time to compare providers?

According to Duo Insurance: “Queensland has the highest rate of natural disasters in Australia, making landlord insurance an absolute must for property owners.” So if you haven’t reviewed your policy in a while, now’s the time to check that your investment is fully protected.

6. Maintenance Budgeting

Avoid unforeseen expenses through diligent maintenance oversight. Look at:

Last year’s maintenance costs: Were they higher than expected?
Preventative maintenance plans: Don't let small problems escalate into big ones.
Scheduling major works: Booking in advance can save money and avoid peak-season delays.

7. Tax Compliance and Recordkeeping

Good recordkeeping makes tax time easier. Ensure:

All receipts, statements, and financial reports are up to date.
You’re aware of any upcoming tax legislation changes.
Your accountant has everything they need for a smooth tax return.

8. Review Your Property Manager’s Performance

Is your property manager helping you meet your financial goals? Ask yourself:

Are they providing regular reports, updates, and proactive advice?
Do they support you with EOFY prep, tenant renewals, and compliance?
Are you getting maximum returns with minimal stress?

At Iconic Realty Group, we prioritise profitability. Our accounting-first approach ensures that clients' properties aren't merely managed, but optimised as profitable ventures.

Proactive Investment Management for a Successful Financial Year

Embrace a proactive strategy as you begin the financial year to improve management, minimise unforeseen issues, and improve long-term returns. Dedicating time to evaluate, adjust, and strategically plan now can pave the way for your investment's success.

Contact us at Iconic Realty Group today for expert support in managing your property's finances and working with a team that understands the numbers.