Property Accountants

Expert accounting advice for Property Developers

At Outside Accounting, we will guide and support you to manage the financial department of your property development

Accounting services for property developers

Bookkeeping

Accounting and Tax

Business Advisory

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Property Accountants: 3 Biggest Mistakes in Property Development

Property development can be a complicated and risky business. While there are many ways to make money in property development, there are also plenty of ways to lose money. In this blog post, we’ll take a look at three of the biggest mistakes that property developers make, so that you can avoid them in your own projects.

Not Doing Your Property Developer Homework

Before you even think about starting a property development project, it’s important that you do your homework. This means research the market, understand the competition, and know your target audience inside and out. Without this knowledge, it will be very difficult to make your project a success.

Not Having a Property Development Contingency Plan

No matter how well you plan, there will always be unforeseen circumstances that can throw a wrench in your plans. That’s why it’s important to have a contingency plan in place for when things don’t go according to plan. This could include having extra capital available or lined up, or having a backup plan for marketing or construction.

Trying to Do Everything Yourself in property developing

Property development is a complex process with many moving parts. Trying to do everything yourself is a recipe for disaster. It’s important to delegate tasks and responsibilities to others who are experts in their respective fields. This includes hiring an experienced project manager, architect, and contractors.

Property development is a risky business, but if you avoid these three mistakes, you’ll be well on your way to success.

Remember to do your homework, have a contingency plan, and delegate tasks to experts. If you can do these things, you’ll be one step closer to making your property development project a success.

Meet the Outside Team!

Food Envy

With over 20 years experience in kitchens, Taz took the leap and set up Food Envy in 2012 – a way to share his love of good food and hospitality.

Tidy Slabs

Addressing the challenges of the industry is the hardest part of a build but Tidy Slabs believe that foundation work can be simple – with a well-defined process, and a high standard that’s maintained every time.

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In Touch

Phone: 04 889 2975

Email: info@outsideaccounting.co.nz

Web: www.outsideaccounting.co.nz

Level 2, 182 Vivian Street, Te Aro, Wellington 6011, New Zealand

Client

Reviews

The team at outside are a dedicated bunch. They go above and beyond in every situation and provide so much more than your standard tax accounting. They have developed process maps, management reports, managed our invoicing, payables and pretty much taken care of every part of our business when we have needed it. They are a big part of our business and will continue to be moving forward.

A great team - striking the right balance between professional, knowledgable accountants while being fun and personable to deal with. Always quick to respond. Harri has prepared my end of year statements and GST returns. I'm based in Auckland and have managed to snag a spot at the "co-working desk" in their office a couple of times while I'm down in Wellington.

These guys are not the typical accountants. We engaged with Outside originally for our small business accounting needs, but over the years they have provided invaluable services above and beyond. We have grown as a business and Outside worked alongside us the entire time, supporting us with expert and professional advice throughout our journey. They are an awesome bunch, so easy to get along with, they break everything down into regular speak and no question is too dumb to ask. Their door is always open, everyone is super welcoming and they make a mean coffee.