For most landlords, the End of Financial Year (EOFY) statement is a once-a-year snapshot. You might glance over it, hand it off to your accountant, and tick “property sorted” off your to-do list. But this document, while useful, only tells part of the story.
At face value, your EOFY statement shows:
Revenue Received
- Rent collected over the year
- Water usage billed to tenants
Quick check: Are you charging tenants for allowable water usage? This can equate to hundreds of dollars in recoverable costs each year.
Expenses Paid on Your Behalf
Including:
- Management, letting and re-letting fees
- Advertising and admin costs
- Maintenance
- Rates and insurance
- Body corporate levies
- Smoke alarm compliance
That’s all important. But here’s the real question:
What Isn’t Your EOFY Statement Telling You?
The obvious answer: any expenses you paid yourself. That includes:
- Bank interest
- Accountant fees
- Depreciation
- Owner-paid rates or insurance
But there’s more. Here are five critical things your EOFY statement won’t tell you (and why they matter).
1. Rent Performance
- Did you charge the maximum rent all year?
- Was the rental increase in line with market demand?
- Could you have achieved $60 more per week, not just $20?
Your statement shows what was collected, not what could have been.
2. Vacancy Gaps
- Was the property vacant at any time?
- Could this have been minimised with earlier advertising or smarter lease planning?
- Was the lease end date aligned with peak rental periods?
Every week vacant is a week of lost income, and the EOFY statement doesn’t spell this out.
3. Routine Inspections
- How many inspections were done?
- Were reports thorough and actionable?
- Were recommendations made to help you meet the new Minimum Housing Standards?
You deserve to know if your property meets legal and liveability standards and whether proactive steps are being taken to protect your investment.
4. Maintenance Trends
- Are repairs one-offs, or signs of a recurring issue?
- Should you budget for preventative work?
- Was a repair actually a body corporate responsibility or still under builder warranty?
Your EOFY report lists what was spent, but not why or whether it could’ve been avoided.
5. Interest Costs
- Interest isn’t on your EOFY, but could your Property Manager be helping to reduce it?
- Most disbursements are monthly in arrears. But rent is paid weekly. Interest is calculated daily.
Could more frequent payments reduce your loan interest across the year?
What Else It Doesn’t Tell You
- Your current property value
- Your rental yield or capital growth
- Whether your property is performing in line with your investment goals
Ask Yourself:
Is your investment property doing what you bought it to do?
If you’re not sure or if your EOFY statement raised more questions than it answered it might be time for a deeper review.
At CBS Property Group, we don’t just manage the numbers, we manage the bigger picture and work with a number of trusted partners including accountants, mortgage brokers, sales agents and more. Let’s take a proactive look at how your property is performing and where there’s room to improve.
Book your free investment consultation with us today.
Let’s make sure your investment is still working for you.