PROPERTY SUMMARY
PROPERTY DESCRIPTION
Located in Branyan within a 5-minute drive of CQUniversity Bundaberg, the Bundaberg Airport, major shopping, Schools and more and is well above all flood heights. The home was built in 2013 and offers 4 bedrooms with the master bedroom offering an en-suite bathroom.
Open plan kitchen, dining and lounge room living area flowing out to the undercover outdoor entertaining area. Fully fenced back yard on a 600m2 parcel of land.
The home also offers a separate formal lounge room and a double attached lock up garage. The main open plan living area and the master bedroom are both air-conditioned.
Should you be looking to live in the property you can following a notice period of 3 months to the master tenant. For the investor, you get a head start with this property as it also has been awarded the NRAS programme. The NRAS program was capped at 38000 and no more allocations are left. The allocation lasts for 10 years for each property with this property concluding 27-02-2023.
The programme was designed to promote building activity and provide affordable housing for people. Approved tenants on limited income pay 80% of the market rent and the government allocation pays the landlord the difference and uses a private company to manage the property.
Basically, a private company- Aspire homes act as the property manager and the master tenant all in one. They place approved tenants in place. 61 Neville Drive has tenants in place on a fixed lease which expires on 18-11-2020. The current owners have instructed Aspire to not offer another fixed lease from then but offer them a periodical lease due to needing a sale for financial reasons. Aspire pay the landlord $380/ wk, 52 weeks per year regardless of if the tenant moves out or does not pay the rent. Aspire fix any damage that occurs and will return the property to a good condition on the termination date of the NRAS programme which will be either 27-03-2023 or 3 months after being notified to terminate the agreement.
For the owner occupier, you are getting a modern 2013 built home under $300,000 that you can move in after 3 months. Call Tim McCollum today on 0427523088 for more information.
AT A GLANCE:
Land
Out of Flood- Yes- high and dry.
Size- 600m2
Town water- Yes
Town sewage- Yes
Stormwater drainage- Yes
Power and Telstra- Yes
Council Rates- $1,700 per 6 months (approx.)
House
Built- March 2013
Construction- Brick veneer, concrete slab, colorbond roof.
Bedrooms- 4
Bathrooms- 2 (master with ensuite)
Toilets- 2
Lounge rooms -2
Dining-1
Car accommodation- 2
Outdoor area- 1
Tenancy
Tenants in place on a fixed lease ending 18-11-2020
Lease to become periodical from 19-11-2020
Vacant possession can be provided with a notice period of 3 months.
Property is on the government funded NRAS Program.
Aspire Housing group act as a master tenant and a property manager.
Aspire are paid from government allocations, not the landlord.
Landlord receives $380/wk with no management fees.
Zero vacancy as Aspire pay $380wk in between tenants.
Aspire rectify any damage caused by tenants through the NRAS Government allocation.
NRAS programme expires 27-03-2023.
Our office can manage from 28-03-2023.
Current market rent with our office around $380/wk.
Note owner occupiers can move in 3 months from notifying Aspire.
Agent: Tim McCollum
Phone: 0427 523 088
The information provided is for use as an estimate only and potential purchasers should make their own inquiries to satisfy themselves of