Brisbane is a great place to live because of its warm climate, natural beauty, cultural diversity, and excellent infrastructure. It offers a high quality of life and plenty of job opportunities. In addition, it has been experiencing rapid growth in recent years, making it an attractive destination for investors. According to a report, in 2022, Brisbane was a strong performer with a 32 per cent increase in the median house price.
So, if you’re an investor, you know how important it is to stay on top of your finances. That’s why hiring a property accountant in Brisbane can be a wise move. But before you do, you should ask some key questions to ensure you’re hiring the right person for the job. And in this article, you can read on to know the top 10 questions to ask before hiring.
- What Experience Do You Have With Property Accounting?
When it comes to property accounting, experience matters, and you want to hire an accountant with a proven track record of working with investors and understanding the unique challenges of managing property finances. So, ask them about their experience and if they have any specific qualifications or certifications in this area.
- What Services Do You Offer?
Different accountants may offer different services. Some may specialise in tax preparation, while others may focus on bookkeeping or financial reporting. It’s important to know what services they offer, so you can determine if they’re a good fit for your needs.
- What Is Your Pricing Structure?
The cost of hiring someone can vary widely depending on their experience, services, and other factors. As such, make sure to ask about the pricing structure, including whether they charge hourly or flat rates and what fees are included.
- What Software Do You Use?
Modern accounting software can help streamline the accounting process, making it easier to manage your property finances. So, ask them what software they use and if they are familiar with any property management software. If they don’t use the same software, ask how they plan to work with you to ensure a smooth transition.
- What Kind of Support Do You Offer?
You want to work with a responsive and available accountant when you need them. Hence, ask about their availability and what kind of support they offer, such as phone and email support or in-person meetings.
- Can You Help With Tax Planning and Preparation?
Tax planning and preparation are critical components of property accounting. Ensure the accountant you’re considering has experience in this area and can guide tax planning strategies to help you save money.
- How Do You Communicate With Clients?
Effective communication is essential for a successful relationship with them. So, ask about their communication style and how they keep clients informed about their finances. Do they provide regular updates? Will they be available to answer questions as they arise?
- How Do You Stay Up to Date With Changes in Property Tax Laws?
Property tax laws are subject to change, so working with someone who stays current on these changes is essential. So, ask how they stay up-to-date on changes in property tax laws and how they incorporate these changes into their work.
- Can You Provide References?
One of the best methods to determine if they fit your needs is to speak with their current or former clients. As such, ask if they can provide references, and be sure to follow up with these references to learn about their experiences working with them.
- What Results Have You Achieved for Other Investors?
Ultimately, you want to work with an accountant who can help you achieve your financial goals. So, ask about their track record working with other investors and the kind of results they have achieved.
In conclusion, hiring a property accountant in Brisbane can be a smart decision for investors. But before you do, ask the right questions to ensure you’re hiring the right person for the job. By asking about their experience, services, pricing, software, support, tax planning, communication, knowledge of property tax laws, references, and results, you can make an informed decision and choose someone who can help you achieve your financial goals.