A vacant investment property can be an investor’s worst nightmare.
To reduce that uncertainty we offer tenancy guarantees for all of our properties, whether your purchase is inside or outside super. However, these guarantees differ depending on which ‘Series’ home is purchased.
For all Series 1 homes we provide a 5-year tenancy guarantee. Which means that if your property is untenanted; we’ll pay the rent for 11 out of 12 months.
After the first five years, your property is reassessed and then offered a conditional option to extend for a further 5 years. That could be 10 years of guaranteed rental income!
We are confident in the quality of our homes and have seen that they are highly sought after, so you do not have to pay any extra to obtain the first 5-year tenancy guarantee.
Terms and Conditions
- The five year term commences from the date of settlement/final payment of your brand new house;
- You are covered for 11 months per year (non-accumulative), which excludes one month per year for tenant changeover;
- Market rent is determined by a consensus of our Property Manager plus our panel of reputable Estate Agents;
- A further five-year tenancy guarantee is available for $2000. This is payable at the end of the first five years and is subject to the conditions outlined in the point below;
- For the second five-year guarantee to apply, a joint property inspection will take place with you as the Landlord, our Property Manager and the external Managing Agent.
Subject to the manager’s discretion, maintenance shall occur (at the Landlord’s cost) including recarpeting, repainting, and a landscape upgrade. This is to ensure that your property remains a superior option for tenants looking to rent. Any upgrades to the property are tax deductible.
- Our tenancy guarantee only becomes payable after the owner makes a claim for any rental arrears on the bond and their landlord insurance.
- It is only payable after the owner first makes a claim for any rental arrears on ‘compulsory’ landlord insurance.
- Agreements include broad indemnities that seek to prohibit any future professional liability claims against SSH or any of its affiliates.
Our Series 2 homes are eligible for a 2-year tenancy guarantee, with rental payments for 9 months of the year.
See the difference between our Series 1 and 2 homes.
We encourage you to seek independent financial advice before deciding if our Tenancy Guarantee is right for you.
Please Note: This is a guarantee of rental income. It is not to be implied as to any guarantee of any capital growth you will make.