What Records Do I Need to Keep for My Investment Property?
Keeping the right records is one of the simplest — and most important — parts of owning an investment property.
Good record keeping makes tax time easier, helps ensure you don’t miss deductions, and reduces the risk of errors or issues later.
If you’re wondering what you actually need to keep (and why), here’s a clear, practical guide.
Records of Rental Income
You need to keep records of all rental income received from your investment property.
This typically includes:
- Rental statements from your property manager
- Bank statements showing rent received
- Records of any additional income related to the property
All rental income must be declared, so having clear records is essential.
Loan and Interest Records
Interest on an investment loan is often one of the largest deductions.
You should keep:
- Loan statements showing interest charged
- Annual loan summaries from your lender
- Records of any refinances or loan changes
These documents help your accountant correctly calculate deductible interest.
Property Expenses and Invoices
Keep records for all property-related expenses, including:
- Property management and letting fees
- Council rates and water charges
- Insurance policies and premiums
- Repairs and maintenance invoices
- Advertising costs for tenants
Invoices and receipts support your claims and help avoid missed deductions.
Depreciation Schedule
If your property has a depreciation schedule, this is a key document to keep.
The schedule outlines depreciation deductions that may be claimed each year and is usually reused over many years.
Your accountant will rely on this document when preparing your tax return.
Purchase and Sale Documents
You should retain documents related to buying and selling the property, such as:
- Contract of sale
- Settlement statements
- Stamp duty and legal cost records
These documents are important for capital gains tax purposes in the future.
Records of Repairs vs Improvements
It’s important to keep clear records of work done on the property.
Repairs and maintenance are treated differently from improvements for tax purposes.
Keeping detailed invoices and descriptions helps your accountant apply the correct treatment.
How Long Do I Need to Keep Records?
In many cases, records should be kept for several years after they are used in a tax return.
Some documents, such as purchase records, may need to be kept for much longer — particularly for capital gains tax calculations.
Your accountant can advise on specific timeframes.
Digital vs Paper Records
Records can usually be kept electronically or in paper form.
What matters most is that they are clear, accessible, and complete.
Many investors choose digital storage to make organisation and retrieval easier.
Why Good Record Keeping Matters
Good records help ensure:
- Deductions are claimed correctly
- Tax returns are prepared efficiently
- Future reviews or audits are less stressful
Tax professionals such as
The Accountants
can help confirm what records are required and how to keep them organised.
How Finance Structure Fits In
While record keeping is a tax task, your loan structure influences what records exist in the first place.
Interest, refinancing, and loan features all affect documentation and deductions.
How Chase Helps Investors Stay Organised
Chase Douglas has extensive experience in mortgage lending and helps investors structure loans clearly and efficiently.
Clear loan structures make it easier to track interest, understand costs, and work seamlessly with your accountant.
Unsure If You’re Keeping the Right Records?
If you’re not confident that your records — or loan structure — are set up properly, a review can provide peace of mind.
👉 Book a conversation with Chase Douglas to review how your finance structure supports your property and tax strategy.
Good records today mean fewer headaches tomorrow.
