Moving you in the right direction

Image related to text in section

About Us

We are constantly redefining the selling, buying & leasing experience across the real estate industry and raising the bar when it comes to service and communication.

We are a dynamic team that’s swift in action, sophisticated in style and dedicated to making sure each property campaign stands out in the crowd.

Property Management

Transforming the way properties are managed, we take a collaborative approach with the owners to ensure you see your investment pay off.

Creating tailored strategies to maximise growth and reward, ASCENT are in the business of creating opportunities.

Providing an elite professional service that manages not just your property, but elevates your expectations. Every day of the year.

Properties we think you'll love

    Our Client Testimonials

View all testimonials

Luke was extremely helpful..he is very approachable.. also very quick to respond to any questions we had. He went above and beyond to secure us our property. We were interstate buyers, making life so much less stressful for us at the time! We would not hesitate to recommend him.

I could not recommend Luke enough for an estate agent. He was able to help guide us through the process from start to finish without any difficulties, was never pushy (except for when I forgot to get paperwork to him which was my fault ?), and managed to find us a buyer incredibly quickly. Luke also offered better rates than others in the area, and did a fantastic job overall. If I ever buy or sell again, it will be through Luke.

Well versed in the current trends of the housing market, and, although we were in an unusual area, was able to estimate our house at a wonderful amount. Luke had a realistic and sound approach, with a methodical layout of expectations and outcomes.

Latest Articles

Stay up to date with our latest news, tips and tricks.

May 19, 2024

Turn your main residence into an investment property

If you're considering upgrading your current home or downsizing, retaining your original property as an investment can be a strategic financial move. However, before you embark on this journey, it's crucial to understand the tax implications. Here’s a comprehensive guide to ensure you're well-prepared. Capital Gains Tax & main residence exemption. Typically, any profit or loss from selling your main residence is exempt from CGT. However, if you convert your property into a rental, the exemption rules change. Here's what you need to keep in mind: Initial investment property: If your property was first used as an investment and later became your main residence, you'll need to apportion any capital gains based on the time the property was used for each purpose. Main residence first: If you first lived in the property and then rented it out, the CGT calculation will involve determining the property's market value at the time you started renting it. You only pay CGT on the gains from that point onward. Non-residents: If you’re a non-resident when selling your property, you don't qualify for the main residence exemption. This is crucial for expatriates and those living abroad who maintain properties back home. Six-Year Rule Under the Six-Year Rule, you can treat your property as your main residence even after moving out. This allows you to keep the main residence exemption for up to six years if the property is rented. After six years, any gains during the rental period become fully taxable. However you must remember you can only have one main residence at a time, so if you buy nother property to live in you might lose yoru 6 year exemption. There are a two important considerations: If you purchase a new residence, you might forfeit the exemption for the old property if it's rented. If the property remains vacant, (and you don’t own another residence) the exemption period is indefinite. However, recent changes in vacant land costs may make leaving the property empty a costly choice. Taxable income & deductions Rental income is fully taxable, but you can offset it with a variety of deductions. These include immediate deductions and spread deductions. Immediate deductions: Interest on property loans, advertising costs for tenants, repairs and maintenance (after the property is rented), rates and taxes, body corporate fees, managing agent fees, and insurance premiums. Spread deductions: Borrowing costs, depreciating assets, and capital works (building costs) are spread over time. Note that repairs and improvements made before renting the property are not immediately deductible. They might qualify as depreciation, or they could form part of the capital costs, reducing the overall taxable capital gains later on. Depreciation, capital works, and the 2017 depreciation deduction change. Depreciation and capital works deductions offer substantial benefits. A qualified quantity surveyor can prepare a detailed depreciation report to outline the deductions available. However, there have been changes in depreciation rules for previously used residential properties. As of July 1, 2017, Investors can no longer claim depreciation on second-hand assets (e.g., appliances or furniture) purchased with the property. Instead, these assets are factored into the overall capital gain or loss when selling the property. Important considerations before renting out your home Renting out your home involves a number of strategic, and even emotional, decisions. Here are a few key points to keep in mind. Market timing: Consider whether it's the right time to rent out your property based on the rental market and property values. Talking with a trusted real estate agent (like Ascent Property Co) can provide powerful insights and peace of mind here. Property management: Decide if you'll manage the property yourself or hire a professional agent. (Ascent Property Co) Legal compliance: Understand your obligations as a landlord under local tenancy laws. If you choose to hire a professional property manager, they’ll assist here. Insurance coverage: It vital to secure adequate insurance coverage that includes landlord-specific protections. Tax planning: Every investment property is unique, and strategic tax planning will ensure you're maximizing deductions and minimising future liabilities. The level of equity in your old house also needs to be reviewed to determine if it is more tax effective to rent out or sell. Ready to turn your home into a lucrative investment? Retaining your original property as a rental requires expert advice. Every property is unique, and tailored tax planning can ensure you're maximising your investment. Contact us to understand your potential financial gains and minimise any risks involved, and reach out to Ascent Property Co for tailored guidance and support on selling or leasing your property....

May 6, 2024

A guide to navigating the sale of property from the deceased.

Inheriting a deceased estate — property and belongings from someone who has passed away — often marks a challenging, emotional, and complex period. The sale of such a property, in particular, comes with many legal intricacies and requires a thorough understanding of the process. The journey to legally transferring ownership and proceeding with the sale involves multiple critical steps as well as legal expertise and guidance. Let’s set the scene. Understanding the legal foundations. The process starts by obtaining the necessary legal documents: probate or Letters of Administration, contingent upon whether the deceased left a Will. Probate serves as a legal confirmation of the Will's validity, permitting the executor to proceed with estate management. In the absence of a Will, Letters of Administration are essential for an appointed individual to take charge of the estate. A step-by-step process. Attain probate or Letters of Administration: The initial step requires securing probate from the Supreme Court, if a Will exists. Without a Will, one must apply for Letters of Administration — a task that, while complex, equips the administrator with equivalent authority to that granted by a Will. Transfer title: Following the acquisition of the necessary legal standing, the next move involves updating the property title with the executor or administrator's name. Beneficiary transfers or sale: The final stage encompasses either transferring the property to the beneficiaries or selling the property and distributing the proceeds among them. The challenges of legal proceedings. Obtaining probate can be time-consuming, but the absence of a Will complicates matters further. Nonetheless, once Letters of Administration are secured, the path to selling or transferring the property is the same as the process followed when a Will is present. The critical difference lies in the application for Letters of Administration, which demands the consent of all beneficiaries under the Administration Act 1903. Preparing for sale: consent and considerations. Even with a Will, selling a property from a deceased estate doesn't always proceed seamlessly. Securing the consent of all entitled parties is a prerequisite for any sale or transfer not explicitly outlined in the Will or under the Administration Act 1903. It’s a good idea to prepare a deed of family arrangement, detailing agreed terms concerning the property, which requires the signatures of all beneficiaries. This legal document (best crafted by a Lawyer), aims to mitigate potential disputes and streamline the sale process. The role of professionals. In case it’s not obvious at this point, this process is extremely complicated, and often, emotionally draining. Given the intricate legal landscape surrounding deceased estates, enlisting professional help is highly recommended. Legal professionals, including solicitors and settlement agents, are invaluable resources for navigating the procedural complexities, ensuring all documentation is meticulously prepared and legally sound. Let Ascent Accountants & Ascent Property Co help you during this challenging time. Selling a property from a deceased estate is full of legal challenges and procedural nuances. Each step requires careful consideration and expert guidance, but we have a network of legal experts ready to ease the burdens here. Ascent Property Co can also provide you with estimated values and help sell the property. Contact us and we’ll connect you with the right professional, facilitating a smoother transition during a difficult time....

Mar 18, 2024

Should you buy/sell a property off-market?

Thinking of selling? You probably know the typical scene involves properties being listed, advertised, and showcased through open houses. However, a different, quieter path exists for homeowners and buyers alike, offering exclusivity and a smoother journey from listing to purchase.  This is the off-market sale, a unique approach where properties are sold without public listings, broad advertising, or the traditional open house fanfare. Understanding Off-Market Sales. The essence of an off-market sale lies in its discretion and exclusivity. According to Damian Collins, Managing Director of Momentum Wealth, the fundamental difference in off-market is the absence of public marketing. This private nature makes off-market deals more exclusive and potentially less stressful, as the selling and buying process is not exposed to the broad public. However, Collins also notes that buyers must understand market values and remember that the asking price in off-market deals is not publicly tested. In other words, don’t automatically categorise an off-market property as a bargain… Why Choose the Off-Market Route? Cath Hart, CEO of REIWA, points out that privacy concerns, avoiding the hassle of preparing for home opens, and the luxury of waiting for the right offer are among the top reasons people opt for off-market sales. Sellers might not want the public to know they are selling or wish to test the market discreetly to see where buyers see value without the pressure of a formal listing. Pros and Cons for Buyers and Sellers. Off-market sales have advantages and disadvantages for both parties. For buyers, a key benefit is accessing exclusive opportunities that aren't available through conventional channels, along with a more personalised and flexible negotiation process. This can lead to more favourable terms for the buyer. However, the lack of advertising means potential buyers may be unaware of the property's availability, reducing the competition but also the visibility. For sellers, a key “win” is the lack of hassle regarding marketing and advertising efforts. This makes listing generally more affordable. However, this also means the property’s visibility is far lower, and the home may not sell as fast as a result. The Importance of Trust and Due Diligence. Off-market transactions call for a high level of trust between the buyer and seller. Collins warns that the negotiation process might lack the transparency of advertised sales, emphasising the importance of due diligence and professional expertise to avoid overpaying for a property.  Going Off-Market? Let Us Help With the Tax Stuff For those looking to buy or sell outside the public eye, understanding the nuances of off-market transactions is key to navigating this less-travelled road successfully. For example, do you know what your tax obligations are here? We’ll help you make the most of off-market real estate deals and give sound advice around the tax implications. Get in touch to get started....

Feb 16, 2024

Home Buying & Selling Contracts: Understanding Clauses

Buying a home (or selling one) is one of the most significant decisions in life. Amidst the excitement, it's essential to approach the process with a critical eye — understanding the intricacies of your buyer’s or seller’s contract is paramount. We’re going to explore the importance of clauses, their role in protecting you, and the necessity of legal comprehension in the homeowner journey.    The importance of clauses.  When examining a home contract, it's not uncommon to ask for modifications before finalising the deal. You’re entitled to do so, and your real estate agent may even advise it.  Including specific clauses empowers you to address concerns and ensure inspections or necessary fixes are completed before ownership transfers. These may include inspections for structural integrity, termite assessments, or verification of council approvals (particularly critical in WA).    The role of real estate agents.  While you can propose clauses as a buyer, you can’t breach legal requirements. Real estate agents typically aid in safely incorporating these clauses into the contract, offering guidance on pertinent additions. Real estate companies commonly provide standard forms for additional clauses, streamlining the process.  However, buyers often forgo legal counsel, relying solely on the agent's assistance. Agents, bound by ethical standards, should highlight crucial property aspects and propose standard conditions, such as ensuring the functionality of utilities and conducting structural assessments, but they don’t always.  Make sure you know what you’re reading and agreeing to before you sign!  You can add an extra layer of protection and scrutiny by seeking third-party legal advice on your contract.  Understanding what you’re looking at is paramount as it’s common for misunderstandings may arise. For instance, a structural report only obligates fixes to structural defects, not cosmetic issues, and many people don’t know this until they’ve already signed.    Legal considerations.  Even if you’re an experienced home buyer or seller, understanding your contract's nuances is crucial because WA lacks a cooling-off period. This calls for thorough scrutiny before signing — after all, no two contracts are the same. Attempting to exit the contract by failing to secure financing is also prohibited. Once signed, buyers must diligently fulfill conditions to finalise the transaction.    Understanding the risks.  In navigating home contracts, a grasp of clauses and legal obligations is invaluable. Seeking legal counsel offers an added layer of assurance, especially for those unfamiliar with the intricacies of real estate law. Ultimately, informed decision-making is key to a successful home-buying journey. ...