22 Pokana Circuit

Kaleen ACT 2617

ONE OF THE BEST RETURNS WE HAVE SEEN....
INTRODUCTION PRIOR TO ITS CURRENT INCARNATION THE PROPERTY FUNCTIONED AS A LARGE, WELL MAINTAINED, FAMILY OWNED 4 BEDROOM AND ENSUITE HOME. SINCE THE PURCHASE IN 2008 THE CURRENT OWNERS HAVE MADE SIGNIFICANT CHANGES TO IMPROVE THE FUNCTIONALITY OF THE PROPERTY, INCLUDING REMOVING THE DINING ROOM TO MAKE WAY FOR THE NEW DOUBLE-SIZED STUDENT FRIENDLY KITCHEN. TO MEET COMPLIANCE REQUIREMENTS THE FLOOR WAS RAISED IN THE OVERSIZED GARAGE, AND TWO NEW BEDROOMS AND A SEPARATE BATHROOM WERE ADDED UNDER THE ROOFLINE. THE LAUNDRY HAS BEEN ADJUSTED TO ACCOMMODATE A SECOND WASHING MACHINE. SECURITY IS GUARANTEED WITH SCREENS ON ALL OPERABLE WINDOWS, AND MOTION SENSOR LIGHTS PROVIDING CONVENIENT LIGHT TO THE PERIMETER OF THE HOME. CONCEPT THE CURRENT OWNERS AND OPERATORS HAVE PREVIOUS EXPERIENCE WITH THE STUDENT SHARED HOUSING MODEL WITH PROJECTS IN BRISBANE- WHERE SHARED ACCOMMODATION IS POPULAR. TENANTS AT 22 POKANA ARE OFFERED ACCOMMODATION ON A ROOM-FOR-RENT BASIS. THE GENERAL LIVING AREAS, EATING, WASHING AND LAUNDRY FACILITIES ARE SHARED AND THE OWNERS TAKE CARE OF UTILITIES (ELECTRICITY, GAS, WATER AND INTERNET). LEASES ARE DICTATED TO RUN CONCURRENTLY WITH THE UNIVERSITY CALENDAR FOR 6-12 MONTHS - NOT THE CALENDAR YEAR. TENANTS ARE THEN COMMITTED TO THEIR LEASE WHETHER THEY ARE ON UNI HOLIDAYS OR OUT OF TOWN BETWEEN SEMESTERS. THIS MINIMISES ANY VACANCY PERIODS AND REDUCES LEASING COSTS. A SIGNIFICANT INVESTMENT WAS MADE TO ENGAGE SPECIALIST LEGAL ADVICE IN ORDER TO DRAFT A SPECIFIC TENANCY AGREEMENT THAT CORRECTLY ADDRESSES THE POTENTIAL CHALLENGES OF A SHARED HOUSE FACILITY. IT MEETS THE NECESSARY REQUIREMENTS OF THE ACT'S TENANCY LEGISLATION WHILST EMPOWERING THE OWNER'S ABILITY TO MANAGE RISK AND HOUSE ISSUES (I.E. USE OF COMMON AREAS, PRIVACY, SECURITY AND NOISE ETC). PROPERTY FACTS AND FAQ'S CURRENT RENTS AS PER LEASES ARE AS FOLLOWS: BEDROOM 1 MASTER BEDROOM WITH QUEEN SIZED BED, ENSUITE - $ 220/WK BEDROOM 2 LARGE BEDROOM WITH DOUBLE BED & BUILT-IN-ROBES - $ 190/WK BEDROOM 3 BEDROOM WITH SINGLE BED & BUILT-IN-ROBES - $ 185/WK SHARED MAIN BATHROOM BEDROOM 4 BEDROOM WITH SINGLE BED & BUILT-IN-ROBES - $ 185/WK BEDROOM 5 BEDROOM WITH SINGLE BED & BUILT-IN-ROBES - $ 185/WK BEDROOM 6 BEDROOM WITH SINGLE BED & BUILT-IN-ROBES - $ 185/WK SHARED NEW BATHROOM WEEKLY GROSS INCOME: $1,150.00 ANNUAL GROSS INCOME: $ 59,800.00 EER 1.0