Since its introduction, My Rental Assurance (MRA) has been enthusiastically embraced by clients – a clear indication there was a need for this type of peace of minds for our clients
Your My Rental Assurance is designed to give you peace of mind at the taxman’s expense by guaranteeing the rental income of your investment property if average rental vacancy is exceeded and the market rental amount the time of handover is not achieved.
Newly built properties will take an average of 6 to 8 weeks to rent out.
We are not the only organisations to recognise that clients wish to minimise their exposure to the risk of long periods of time without rental income to offset their investment property mortgage payments. As examples, Defence Housing Authority offer a 10 year lease and Ozinvest offer a 10 year rental guarantee (both forms of rental assurance), and a major independent real estate manager in Brisbane offers a five year rental guarantee.
An investment property averages 3 weeks vacancy per annum between tenancies.
A rental appraisal is based on current market conditions within your investment area and reviewed annually.
What if you could guarantee yourself this would never happen? What if the tax man would pay for that guarantee for you?
My Rental Assurance is attached to your investment property, should you sell your property the remaining time left on the My Rental Assurance will be transferred to the new owner. You will be obligated to advise the new owner that they must inform My Property House within 30 days of their contact details. Should My Property House receive no notification of the sale or the new owners contact details the remaining term of the My Rental Assurance will be forfeited.