Claimable Expenses

Keeping accurate records of rental income and property expenses makes it easier to manage your investment and provide the information your accountant needs.

Common expense categories

Depending on your circumstances and current tax rules, expenses associated with earning rental income may include:

• Property management fees
• Rates and insurance premiums
• Repairs and maintenance
• Accounting and professional fees
• Advertising for tenants
• Some travel or administration costs
• Interest or financing costs where permitted under current rules

The treatment of repairs, improvements, private use, mixed-use holiday accommodation and financing costs can differ. An expense being connected with a property does not automatically mean it is deductible.

Coastal property records

Russell and Okiato homes may require regular exterior washing, painting, ventilation work, vegetation management or attention to salt-related wear. Keep invoices and clear descriptions of work completed. This helps your accountant distinguish routine maintenance from capital improvements and also creates a useful history for future property decisions.

Get current professional advice

Tax rules change and every owner’s position is different. This page is general information only and is not tax or financial advice. Speak with a New Zealand accountant or tax adviser about what applies to you and refer to current Inland Revenue guidance.

Ray White Russell can provide organised owner statements and property management records. Learn more about our property management services or read the full landlord guide.

Keep records that explain the work

Retain invoices, statements and descriptions of the purpose of each expense. Inland Revenue says rental income and expense records should be kept for seven years. A repair and an improvement can receive different tax treatment, so provide your accountant with enough detail to assess the work rather than relying on the invoice total alone.

Mortgage principal, the purchase price and your own labour are not ordinary deductible rental expenses. Private use and short-stay accommodation can change how income and expenses are treated. Discuss those circumstances with your accountant before assuming a residential rental guide applies unchanged to a holiday home.

Read Inland Revenue’s current rental property expenses guidance and rental income and record-keeping information. These sources were checked on 23 October 2026.

Request the Ray White expenses guide

Would you like a copy of the Ray White claimable expenses guide? Mention that request in the form below. Our team can confirm the edition available and help with property management records; the request does not provide an instant download or replace current advice from your accountant.