Greater and Defence Housing promote unique property investment

Free information seminars in the Hunter and Central Coast

What

• Property Investment Information Seminars

When/Where

• Bradford Hotel, Rutherford – 18 November from 6.30 – 8.00pm
• Nelson Bay Golf Club, Port Stephens – 19 November from 6.30 – 8.00pm
• Mingara Recreation Club, Central Coast – 3 December from 6.30 – 8.00pm

The Greater Building Society has joined forces with Defence Housing Authority (DHA) to promote investment in defence housing.

Greater Building Society chief executive Don Magin said he was very excited to be working with DHA because of the benefits investing in its properties could provide to Greater members.

Mr Magin said that the long-term security of a DHA lease, with guaranteed rent for the terms of the lease, overcomes some of the risks and worries associated with conventional residential property investment. DHA's standard lease terms are nine or 12 years, with an option for DHA to extend the lease, generally for three years. Rent is paid from date of settlement until the end of the lease with annual rent reviews to market value.

“In this economic climate, a guaranteed return up to twelve years, with no vacancy risk, will be a very attractive investment option to a number of our members,” Mr Magin said.

The two organisations are conducting free information sessions on the Central Coast and in the Hunter. Topics will include: investing in property; potential taxation benefits; maximising returns; and choosing the right loan.

Mr Magin said DHA sells a limited number of properties to investors each year. He said they are of a high standard and feature a comprehensive level of inclusions. Each property is sold with a DHA lease meaning buyers pay DHA a single fee to manage and maintain the property. Most leases include restoration provisions at expiry such as DHA re-painting and replacing floor coverings.

Mr Magin said customers taking out a Greater home loan to buy a DHA property were eligible for the Greater's free holiday and a fee free savings account.

“What a double bonus. Buy yourself an effective investment and take a holiday. This is a very attractive, hassle free, investment option,” he said.

The seminars are FREE and open to everyone, not just Greater customers. Bookings are essential as seats are limited. Call into any Greater branch or register online at www.invest.dha.gov.au

DHA is a Commonwealth Government Business Enterprise. It manages 17,000 properties around Australia, worth approximately $6 billion. There are 1,250 properties in the Newcastle and Hunter region.