As 30 June draws near, property managers across Australia are facing one of the most compliance-critical times of the year. EOFY isn’t just about finalising paperwork — it’s about being completely audit ready, meeting legal obligations, and ensuring every financial and property record stands up to scrutiny. Landlords are counting on accurate, timely reporting, and regulators are watching closely.
Here’s what EOFY means for your agency — and how to get ahead before the audit alarm bells start ringing. We’ve also included a downloadable checklist at the end for your ease!
1. 📁 Finalise Your Financials
EOFY is the deadline for issuing clear and complete financial summaries to landlords and tenants. This includes rental income, maintenance expenses, and management fees — all of which must be accurate, reconciled, and ready for tax time. Landlords rely on these documents to lodge their own returns, so any mistakes can seriously damage trust and credibility.
2. 🔍 Be Audit-Ready with Your Trust Account
In Australia, trust account audits are a legal requirement — and EOFY is when many are triggered. Now is the time to ensure your accounts are balanced, all transactions are recorded correctly, and your audit trail is easy to follow. Make sure all supporting documentation — including receipts, invoices, inspection reports, and correspondence — is stored, dated, and accessible in one place.
3. 🏠 Prepare for the Lease Turnover Rush
EOFY often lines up with a wave of lease renewals and terminations. This brings a flood of entry, exit, and routine inspections — all of which must be properly documented for both compliance and dispute prevention. If your inspection process isn’t efficient, this surge in activity can overwhelm your team and delay reporting.
4. 📨 Deliver Landlord Tax Statements Promptly
One of the key EOFY expectations is that landlords receive their annual statements quickly and clearly. These statements must be correct and formatted in a way that aligns with ATO requirements. Delays or errors not only risk complaints — they could raise red flags if the landlord is audited themselves.
5. 🧠 Use EOFY as a Strategic Health Check
Beyond the paperwork, EOFY is a smart time to review your internal processes. Are you still relying on manual workflows that slow you down? Could you reduce admin load with inspection automation? Investing in the right tech now can improve compliance and give you an edge in the new financial year.
Here are some case studies of agencies who have reduced their admin load with Inspection Express!
6. 💼 Review Fees & Agreements — Backed by Data
EOFY is also when many agencies review their management fees and service agreements. Use this opportunity to show landlords how your services have improved — whether that’s through better reporting, faster inspections, or fewer disputes thanks to enhanced documentation. Fee increases are easier to justify when backed by real results.
Are you using Inspection Express 360AI? There are so many things you can show your new landlords using Inspection Express 360AI – firstly, through our 360 virtual tours! Whether you’re using them for marketing purposes to find the best tenants possible for your landlord’s properties, or for inspections to gather 360 degree high quality images, showing off the great benefits that they’re gaining is a great way to ensure that your landlords know that they’re with the right agency.
7. 📸 Ensure Inspection Reports Stand Up to Scrutiny
Auditors, insurers, and landlords may request additional documentation around EOFY — especially for asset valuation, insurance updates, or tax deductions. Your inspection reports should be thorough, timestamped, include visual proof (like photos or 360° tours), and be readily accessible for audit or compliance purposes.
Our paired exits are an amazing example of documentation that encompasses all of these qualities. Pictured below, they’re timestamped, including not only the detail from the 360 degree image taken, but also of any close ups the property manager has taken before and after tenancy.
EOFY = Audit Season. Be Ready.
EOFY isn’t just a date — it’s a deadline for accuracy, professionalism, and peace of mind. The more prepared your systems are, the smoother your audits will be, and the stronger your relationships with landlords will become.
To see how Inspection Express can help you this EOFY, book a demo here!
Ready to get on top of your EOFY? Download your EOFY Checklist here!
