» BMT apps

Resi Rates helps landlords and property managers resolve disputes

BMT team — Tue, 07 Jul 2020 01:30:51 +0000

BMT Tax Depreciation’s app, BMT Resi Rates, helps property managers and landlords find out the effective life and depreciation rate of any plant and equipment asset within a residential property. Plant and equipment assets are easily removable or mechanical fixtures and fittings. Each plant and equipment asset has its own rate of depreciation and effective life. These include items such as carpet, hot water systems, air-conditioners, blinds and even less obvious items such as garbage bins, exhaust fans and door closers. The BMT Resi Rates app assists property managers to search and find the effective life and depreciation rate for any of the depreciable fixtures and fittings a residential investment property is likely to contain. This helps resolve disputes over damaged assets and maintenance or replacement scheduling. Let’s look at an example of how Resi Rates helped a property manager resolve a dispute between a landlord and their tenant. A property manager conducted an exit inspection on their client’s rental property. Unfortunately, they found that the carpet had been substantially damaged and required full replacement. A dispute arose between the tenant and landlord over whether the cost of the damage should be covered by the tenant and if so, how much should they be required to pay. The property manager did a search on Resi Rates to find out the effective life of the carpet. From this search, they found that the carpet in a residential property has an effective life of eight years, that depreciates at a rate of 12.5 per cent using the prime cost method. The owner had paid $4,000 for the new carpet six years ago. From this information, the property manager was able to calculate that based on the eight year effective life of carpet, there was still 25 per cent of the value left at the time the carpet needed replacing, which was $1,000. The information gathered from Resi Rates allowed the property manager to form a strong case, deeming the tenants responsible for paying the remaining $1,000 as damages. Download the free BMT Resi Rates app for either iPhone, iPad or Android devices. Property managers can also visit Rate Finder online to search for the depreciation rate and effective life of any plant and equipment asset from their desktop computer. For more information on depreciation and other services offered by BMT, contact the team on 1300 728 726 or Request a Quote.

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Discover MyBMT to manage your depreciation and investment property with ease

BMT team — Wed, 15 Apr 2020 23:55:13 +0000

MyBMT allows investors to seamlessly manage their depreciation and investment property needs in one central location. If you are considering MyBMT, here is an overview to demonstrate how it can be your one-stop platform for managing your depreciation and investment property with ease. In this article we will explore: MyBMT Homepage MyBMT Tools My properties Property profiles Quotes Shared schedules Insurance PropCalc access Direct Info access MyBMT Homepage The MyBMT homepage includes all the features of MyBMT in one easy to navigate page. You can request a BMT Tax Depreciation quote here, get up to date with the latest depreciation and property news with the latest BMT Insider articles and register for any upcoming webinars. MyBMT Tools The tools tab is located at the top of the homepage, making it easy to access some of BMT’s free apps, tools and calculators. The tax depreciation, construction cost and replacement cost calculators are powered by BMT’s comprehensive database. Most of the tools are also available through mobile apps. While the expert BMT team manages your properties tax depreciation schedule from start to finish, these tools can be helpful to understand the intricacies of depreciation or depreciation estimates of investment properties you may be adding to your portfolio. My properties You don’t need different accounts to manage multiple properties. MyBMT allows you to store all your investment properties in one place for a consolidated approach. From this page, you can easily sort through your properties, track where your schedule is in the process and request a quote. Property profiles Each property profile has several features to help you and your team manage your depreciation needs. From status of current schedules to the income and expenses of your property, the profile has all you need to help manage your property. You can also edit your property team to include members such as your accountant or property manager. Quotes You can see any quotes you have requested from the property page. Once a quote has been generated, you will be able to view key information that’s available such as the estimate, insights and a sample report. From here, you can either accept or send an enquiry to the BMT team. Shared schedules It’s key for investors to be able to share their depreciation schedules with their team to maximise their return and make the process easy. MyBMT allows you manage any shared schedules at your fingertips. Once a schedule has been shared you can navigate through here. Insurance Did you know 83 per cent of properties are underinsured? The Insurance tab in MyBMT allows you to request a BMT Insurance quote through the portal. As part of the BMT Group, BMT Insurance offers a wide range of landlord, home and contents insurance policies from reputable Australian providers. PropCalc access PropCalc is your essential property cash flow calculator and is available through MyBMT More than just a mortgage calculator, Propcalc prevents you from making a misinformed decision by showing exactly how the purchase will affect your cash flow. PropCalc uncovers the true costs of owning a property, from purchase costs such as stamp duty to annual expenses including insurances, council rates and repairs. The tool allows you to save and compare properties in the one place. Direct Info access You can also access Direct Info through the MyBMT portal. Direct Info allows you to search for titling information such as deeds, titles, land values and much more. To join thousands of investors already enjoying the benefits of MyBMT, register for MyBMT today.

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5 key features of MyBMT

BMT team — Tue, 16 Apr 2019 01:33:11 +0000

Have you considered registering for MyBMT but wondered what features you will receive? MyBMT is a smart, complimentary service from BMT Tax Depreciation. This interactive portal helps property investors, Accountants and Property Managers to manage their investment property and depreciation details and is a great place to do research if buying a property, whether for investment or personal use. It takes only seconds to register for on-the-go access to existing depreciation quotes, ordering a new schedule or requesting an estimate. We take a look at five key features. MyBMT is simple to use MyBMT’s easy-to-use interface makes managing depreciation for an investment property a cinch. Property investors can view, update and download depreciation schedules. MyBMT also makes it simple to calculate the cash flow required to hold a property, estimate depreciation deductions, replacement costs and more. Accountants can Request a Quote on behalf of their clients, see how clients’ schedules are progressing and make updates as well as download schedules in CSV or Excel format for their Accounting software. Property Managers also benefit from MyBMT and can view free depreciation estimates for their listed properties via MyBMT’s value adding tool, New to Rent. They can also, request quotes and updates to their clients’ schedules.. Consolidate all property documentation Upload and keep all investment property documentation in the one, convenient place – like individual property files, photos and receipts. Take advantage of how easy it is to view, update or share depreciation schedules with your personal investment team. Research & Insights Our research and insights tab helps investors to learn more about the area in which a potential investment property is located. View market data, see nearby planning applications and generate a valuation for any property with an existing depreciation schedule. This feature allows investors to discover newly listed properties in their area as well as important metrics such as recent census data, information that can assist the decision of whether to take on an investment property. PropCalc PropCalc is the essential property cash flow calculator for anyone looking to buy property. It uses data such as income, stamp duty, deposit amount, expenses, rental income and tax depreciation figures to provide an accurate after-tax cash flow required to own a property. PropCalc is the essential tool for investors looking to buy an investment property. It comprehensively calculates the costs associated with holding an investment property and thereby assists investors to determine whether a property is right for them. BMT Insurance BMT Insurance works with some of Australia’s most experienced providers to select the most suitable and cost effective insurance for you. As brokers, we have access to a range of policies to suit your situation. With features and inclusions appropriate to landlords, we are sure to have a comprehensive policy to meet your needs. BMT Insurance offers a wide range of insurance options to suit your needs such as building, contents and landlord insurance. Why not register today? It’s free and offers on-the-go access anytime, anywhere. If you would like to have BMT Tax Depreciation, the tax depreciation specialists, as a part of your property investment team, contact us today on 1300 728 726.

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2019 New Year’s resolutions for property investors

BMT team — Tue, 01 Jan 2019 22:10:02 +0000

Plenty of people make New Year’s resolutions, most commonly to lose weight, to change jobs, to buy their first investment property, to buy their third investment property, to achieve previous goals that remain unconquered. Within a week or two we usually fall back into old habits and quietly forget we decided to make a change at all. Make 2019 your year Even when things in our lives are on track, we all have room for improvement, property investors included. The key to making a New Year’s resolution is remembering the change will have an effect somewhere down the road. Even the small, minor adjustments we want to make in our day-to-day lives can be huge and a small change in our thinking or a small declaration can make 2019 a big year for property investing. Reassess your long and short term investment goals The New Year is a great time to take a look at your goals. If you’ve found yourself off track, you can plan to get where you want to be by revising your short-term goals. Meeting with a Financial Advisor at the beginning of the year can also be of benefit. After investing for some time, you may find that your long-term investment goals have change. Even if they haven’t, the New Year is the perfect time for property investors to evaluate their current situation and plan for the year ahead. Improve your investment portfolio Is 2019 the year to expand and diversify your property portfolio? Or perhaps you found your niche in 2018 and need to sell properties which no longer suit your needs? Either way, start 2019 by consciously planning how you want your property portfolio to evolve this year. Commit to learning something new Over the course of the year, it’s easy to get wrapped up in your own investments and not keep abreast of what’s happening in the market that could have an impact. In 2019, dedicate yourself to staying informed on what is happening in the area where your property is based. There are also many resources out there you could use to improve your investing knowledge from books, blogs, magazines and online resources to information nights and investing courses. Our Research and Insights tab within MyBMT is the perfect place to stay informed to help guide your investment strategies. Focus on being disciplined in 2019 Make one of your New Year’s Resolutions to be more disciplined with your property investments. Plan better, get more organised and work on clearly communicating your needs and future vision. Where can you make improvements? It could be as small as getting a new Financial Planner or it could be as big changing your approach and property plan entirely.

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8 Steps for Buying Investment Property

BMT team — Sun, 02 Dec 2018 22:01:21 +0000

So, you’ve found your dream home or perhaps you’ve decided to enter the property investment market. What are the next steps in making that dream become a reality? Step 1. Determine your budget The first step towards home ownership involves a little self-examination. You will need to assess your finances and determine how much you can afford to repay. To help assist you, PropCalc, is a handy application which provides you with the real cost of owning a property, based on specific information about any property in question. Step 2. How much can you borrow? Now that you have a better idea of the total amount you can devote to your future mortgage repayments, you should now be able to determine how much you can borrow. This amount will vary from lender to lender and many banks do offer online calculators that allow you to determine your borrowing limit. Having found the best possible deal, it’s time to apply for a home loan, attend a loan interview and get approval. Make sure you have all the necessary documents ready for your lender or broker. Procedures do vary from lender to lender, but it is likely you will be issued with either a ‘home loan guarantee certificate’ or a ‘pre-approval certificate’. This means that your home loan has been or will be approved when you find the property you want to purchase (subject to a few conditions). One of the main conditions is often a valuation of the property to ensure a buyer isn’t paying too much for a property. Loan approvals don’t last forever. They typically are valid for around six months, but sometimes up to twelve months. Step 3. Exchanging contracts The next step after you’ve finally found the right property following all your research and weekends viewing properties will be signing the contract of sale. Neither you or the seller is legally obligated to go ahead with the sale until a written, signed contract is exchanged. The contract usually details: Property address Names of the parties involved (you and the seller) Selling price Terms and conditions Special inclusions in the sale Date of settlement Exchanging contracts is what it sounds like. Both you and the seller sign a copy of the contract then swap them so they are both signed. You also have to pay the deposit at this time. Step 4. Get legal representation While the contract is usually prepared by the seller’s Solicitor, your Solicitor or Conveyancer should check that everything is in order before you exchange contracts including: Zoning, heritage or title restrictions don’t clash with your intended use of the property That all property rates and taxes are up to date Help arrange for building and pest inspections Step 5. The cooling off period If you have bought through private treaty rather than at auction, that is you’ve made an offer to the seller and it’s been accepted, you may enter a cooling-off period after the contract is exchanged. During this period you can cancel the contract but there may be a penalty. This is normally 0.25 per cent of the purchase price. Step 6. The period between exchange and settlement The time between exchange and settlement is genuinely about six weeks, although this can change if both you and the seller agree to extend or reduce it. This is the time when you should: Arrange the balance of the purchase price. That is, finalise the finance and sign the mortgage documents Insure the property. You don’t want something to happen to the property during the settlement period and find out too late that it’s your responsibility to pay for. BMT Insurance works with some of Australia’s most experienced providers to help you select suitable and cost effective home insurance for your new home At the same time, your lender will: Arrange for a valuation of the property Step 7. Settlement at last Settlement of the property is when the rest of the purchase price is paid and the keys are yours. You may also need to pay stamp duty at settlement. Congratulations. You are now the proud owner of your new home or investment property and you are officially in the ‘property market’. Step 8. If you have purchased an investment property, organise a depreciation schedule A depreciation schedule prepared by BMT Tax Depreciation helps to maximise the cash return from your investment property each financial year. To ensure that you claim the maximum depreciation deductions, a BMT Tax Depreciation Schedule will last for the life of the property or for forty years, as specified by the Australian Taxation Office. BMT also provide a free, easy to use tax depreciation calculator, which can assist you with an estimate of available deductions for any property. Alternatively, you can contact one of our expert staff on 1300 728 726 for a free estimate of available deductions.

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Six game changing property investment tools

BMT team — Wed, 28 Nov 2018 05:09:16 +0000

When it comes to property investment, there is no shortage of information about what budding investors should do in order to successfully venture into the property market. To make the process less daunting, BMT Tax Depreciation have several easy to use property investment tools available for your convenience. MyBMT is the latest complimentary service from BMT Tax Depreciation. Register for a MyBMT account today, for on-the-go access to depreciation quotes, schedules and estimates. Property Investors: view, update and download schedules upload files including photos and receipts share your schedule with your investment team Accountants: Request new quotes and updates to existing schedules see how your client’s schedules are progressing download completed schedules in CSV and Excel format Property Managers: view free estimates from your recently listed properties via New to Rent request a quote for a depreciation schedule on behalf of clients keep your clients informed about how their schedules are progressing Calculate depreciation deductions for your investment property The BMT Tax Depreciation Calculator helps you to estimate the likely depreciation deductions claimable for all types of property including residential, commercial and manufacturing buildings. Available online or as an app for iPhone, iPad and Android phone or tablets, the BMT Tax Depreciation Calculator is an indispensable tool for anyone involved in property investing. It’s renowned for its accuracy and provides usable figures and a genuine insight into the potential cash returns you could expect from an investment property Depreciation rates at your fingertips BMT Rate Finder assists Accountants and their investor clients to search depreciation rates on the go, with more than 1,500 plant and equipment items identified as depreciable assets by the Australian Tax Office, the BMT app helps to take the guesswork out of calculating the effective life of depreciating assets. Need to find just residential rates? BMT Resi Rates is an ideal app for Property Managers to help resolve disputes over damaged assets and assist with repairs and maintenance scheduling. Download BMT Resi Rates for iPhone, iPad and Android devices and make a quick search for any residential plant and equipment assets. Find out how much it will cost to replace your property The BMT Replacement Cost Estimator uses BMT’s construction cost data to provide a guide on the estimated replacement cost of your property. Simply select the property type, property suburb and quality of finish Enter in the floor area and then answer some basic questions about the property and click ‘Get an estimate’ Based upon the data that you have entered; the results will display the minimum and maximum range for the replacement cost of the building Discover the cash flow potential of any property PropCalc provides a comprehensive summary of the cash flow potential of any residential property. This online tool uses specific property information to provide you with the real cost of owning a property. You can use the generated information or add your own for a personalised cost. Key suburb data is provided and the tool features the ability to include changes in interest rates, maintenance costs, rates, insurance and much more, making property research a breeze. It can all seem overwhelming, especially for first time property investors. However, the good news is that you don’t have to do it all alone. There are professionals out there, whose very job it is to help you get started in the property market. If you would like to have BMT Tax Depreciation, the tax depreciation specialists, as a part of your property investment team, contact us today on 1300 728 726.

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New research and insights feature in MyBMT

BMT team — Fri, 22 Jun 2018 04:40:51 +0000

When purchasing an investment property, it is crucial to undertake area research to gauge if a property will be a suitable, profitable investment. BMT Tax Depreciation has developed a new feature within its online portal MyBMT helps property investors make more informed decisions relating to their investment property. The new research and insights tab assists investors to learn more about the area in which a potential investment property is located. The feature allows investors to discover newly listed properties in their area as well as important metrics such as recent census data, information that can assist the decision of whether to take on an investment property. The research and insights tab also informs investors of any lodged planning applications and new developments in the area so there are no surprises after purchase that could decrease the property’s value. Investors often struggle to know the true value of their investment properties in the ever-fluctuating market. Using the MyBMT research and insights feature, investors can generate a metric-based valuation for their investment properties which have a depreciation schedule in MyBMT. Another useful tool included in the research and insights tab is PropCalc. PropCalc is a innovative calculator that can help you determine the cash flow required to hold a property. It uses data such as income, stamp duty, deposit amount, expenses, rental income and tax depreciation figures to provide an accurate after tax figure. PropCalc is an essential tool for investors considering the purchase of an investment property. It comprehensively calculates the costs associated with holding an investment property and thereby assists investors to determine whether a property is right for them. The new research and insights feature in MyBMT centralises the work involved in purchasing an investment property and assists investors to make smarter financial decisions. To explore the new research and insights tab, register for MyBMT today.

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BMT Tax Depreciation Calculator app for the iPad

Bradley Beer — Thu, 23 Aug 2012 06:06:00 +0000

The BMT Tax Depreciation Calculator app has been updated. Version 1.1 is now available to download for free in the iTunes App Store! The new version is the first tax depreciation calculator app designed specifically to suit the iPad as well as the iPhone. BMT have responded to some suggestions from users and made a few technical tweaks for easier use. The calculator provides an estimate of potential property tax depreciation deductions available to property investors. Used by BMT Tax Depreciation clients for many years, this advanced calculator is a necessity for anyone involved in property investing. Every property investor can claim yearly deductions for the wear and tear on their building and its fittings. The calculations are based on data gathered from thousands of property depreciation reports completed by BMT Tax Depreciation across Australia. To estimate how much you and your clients can claim back each year in seconds, add this FREE application to your iPhone or iPad today! Look for the Android version of our App – available at the android market. Related Links Download the latest version of the BMT Tax Calc app from the iTunes Store now.

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BMT Tax Calc: available as an iPhone app

admin — Thu, 23 Aug 2012 05:59:23 +0000

The BMT Tax Depreciation Calculator is now available as an iPhone App. The calculator provides an accurate estimate of potential property depreciation deductions available to property investors. Used by BMT Tax Depreciation clients for many years, this advanced calculator is a necessity for anyone involved in property investing. Every property investor can claim yearly deductions for the wear and tear on their building and its fittings. The calculations are based on data gathered from thousands of property depreciation reports completed by BMT Tax Depreciation across Australia. To estimate how much you and your clients can claim back each year in seconds, add this FREE application to your iPhone. Related links Download the BMT Tax Calc app for iPhone and iPad here. Download the BMT Tax Calc app for Android

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