RENTAL YIELD + icon
You’re guaranteed a minimum of 92% of the base rental estimate for 2 years
Once your property is tenanted, if your rental income falls short of the independent base rental estimate, DPN will guarantee you 92% paid upfront and per lease agreement, for up to 2 years.
For example, if your base rental appraisal is $600 per week, but you can only rent the property for $500 per week, DPN guarantees you 92% of the base appraisal ($552 per week) and will pay you the difference ($52 per week) up front per lease agreement. So if the lease agreement is for 12 months (52 weeks), this will be a lump sum of $2,704 paid at the beginning of the signed lease period.
This offer is valid for the first 2 years, commencing at the time of handover (i.e. starting when the keys/possession is physically handed over), will be paid in advance, per term of lease and reviewed after the end of the paid lease period. The following conditions apply to the Rental Yield Guarantee:
- Base rental appraisal will be made by an independent real estate agent selected by DPN, based on research at time of sale (often before land registers and home is built in case of house and land packages);
- The rental yield is guaranteed for a maximum of 2 years from the time of handover;
- Purchasers must engage an agent/property manager recommended and approved by DPN and sign a Management Agreement four weeks prior to handover. DPN reserves the right to appoint alternate agents/property managers at any time, with the purchaser’s approval which must not be unreasonably withheld, to secure appropriate tenants;
- The relevant property must be advertised at a rental amount in accordance with the base rental appraisal and current market advice from the DPN approved property manager;
- The purchaser (owner) may not turn down any reasonable application that has been vetted by the property manager by way of the relevant standard checks (e.g. on the basis of a renter having children or pets); and
- Should the purchaser (owner) be away/unavailable to make decisions on the letting of the property for an extended period of time, the owner must nominate someone (e.g. property manager, DPN, friend or associate) to make such decisions as accepting an application and pricing movement on their behalf.
Non compliance with any of the above conditions voids the application of the DPN Rental Yield Guarantee.