FAQ

YOUR INVESTMENT

Q: What am I purchasing?
A: When you purchase in one of Landseer’s quality apartment complexes you are purchasing your own strata-titled apartment. Should you choose to let your apartment, whether for permanent or holiday letting, Landseer can help you set this up efficiently and cost effectively.

Q: What deposit is required?
A: You are required to make a deposit equal to 10% of the purchase price by way of cash, bank guarantee or deposit bond. Your deposit is held in a trust account legislated under the “Property, Stock & Business Agent’s Act 2002 (NSW)” with all interest earned being to your credit.

Q: When do I have to settle my purchase?
A: You do not have to settle your purchase until the building is complete, the strata plan is registered and the complex suitable for immediate occupancy. Private inspections before settlement can be arranged upon request.

Q: What returns can I expect if I decide to let my apartment?
A: In some of our apartment complexes we offer a management scheme and letting service. If you choose to join the letting arrangement within your complex you are entitled to receive the total accommodation revenue earned by the letting of your apartment less charges. Your actual returns depend on the total number of nights your apartment is let to guests each month and the amount of the room rates charged to guests. Room rates are likely to vary according to season.

Q: What fees are payable?
A: Owners Corporation levies are payable by all owners. If your apartment is in the letting arrangement your accommodation revenue will be reduced by the letting fees. These will be detailed in your Letting Agreement.

Q: What taxation benefits are attached to my investment?
A: You will have a building allowance, furniture, other depreciation allowances and possibly interest from your loan (if required). Due to the nature of the investment, the taxation benefits can be quite beneficial. For your assistance a full depreciation schedule specific to your apartment will be available on request. Independent advice should also be sought on this matter.

Q: Can I expect Capital Gains?
A: Purchasing in a Landseer development is an investment in real property and may benefit from any long term capital growth. Because of our sought after locations there is also the additional benefit of potentially higher returns in comparison to other alternatives in the residential property market.

ON-SITE MANAGEMENT

Q: What about onsite management for the apartment complex?
A: We offer onsite management services for some of our developments. Professional and skilled managers are appointed as projects are completed.

Q: What services does the manager provide?
A: The manager runs an onsite letting service that receives personal, telephone, fax, and Internet bookings. The manager provides housekeeping services and a range of guest services including a guest reception service.

Q: What happens if I am unhappy with the manager?
A: If enough owners agree, the manager may be terminated. You can also meet with the manager at your request. As an owner your satisfaction is of vital importance to the manager.LETTING ARANGEMENTS

Q: How does the guest letting agreement work?
A: Through the Letting Agreement with the onsite manager.

Q: When can I expect to be paid?
A: The manager will operate a Trust Account in your name into which will be paid your accommodation revenue. After deduction of fees, this will be paid to you by an agreed day of the succeeding month.

Q: How are my returns calculated?
A: Your returns will be calculated based on your accommodation revenue less all outgoings as specified by the Management Letting Agreement with the onsite manager.

Q: Can people request my particular apartment?
A: Yes they can. It is not uncommon for regular guests to request the same room. The manager keeps strict records to this effect.

Q: Can I use my own apartment if it is part of the letting pool?
A: You can use your own apartment by giving adequate notice to the manager. If your apartment happens to be pre-booked, the manager will attempt to re-arrange bookings to meet your requirements. This should be possible unless the complex is fully booked.

Q: Can I live in my apartment?
A: Yes, you may live in your apartment on a full time or part time basis. If you would like your apartment to be holiday let on a part time basis you would enter into an appropriate agreement with the onsite manager.

Q: Can I inspect my apartment if it is part of the letting pool?
A: Yes, by giving notice to the manager, who will ensure your apartment is not let at the time requested. If it is, than an alternative time can be arranged.

Q: How will I be kept informed?
A: Financial statements will be issued every month, giving you a comprehensive picture of how well your apartment is doing. The manager will be available to speak with you at your request.

Q: Will I receive the same services if I let the apartment out myself or through another agent?
A: No. Your services will be limited, as you are no longer employing the manager on your behalf. The Letting Agreement contains further details.

Q: Can I opt out of the Letting Arrangement?
A: Yes, subject to any advance bookings that the manager is unable to change, you may remove your apartment from the Letting Agreement by giving 90 days notice.MARKETING INFORMATION

Q: How are Landseer properties marketed for letting?
A: All apartments which have a Management Agreement with the onsite manager benefit from the manager’s marketing package. The manager’s marketing package will include, as appropriate, the following:

• Internet sites
• Newspaper advertisements
• Holiday advertisements in magazines

Q: Will marketing commence prior to opening?
A: Yes, it is important that the complex is marketed before opening. The manager will coordinate marketing of the complex over the period leading up to and including the opening period to ensure the Grandview Apartments have the best possible start.LANDSEER DEVELOPMENTS

Q: What are the benefits of being part of a Landseer development?
A: Landseer developments utilise professional and high quality management which ensure that strict compliance and quality assurance standards are maintained at all times. This protects the standard of your investment and ensures the high quality of the letting service.
The location and high quality of our developments together with our management/marketing packages ensure the highest possible return on your investment.OWNER’S CORPORATION

Q: How does the Owner’s Corporation work?
A: All owners who own a lot in an apartment complex control the Owner’s Corporation. The Owner’s Corporation looks after common property such as swimming pools, lifts, entrance lobby, lawns, gym etc on behalf of all owners through the onsite caretaker/manager. Every owner has a say in the Owner’s Corporation and how it is managed. It is the Owner’s Corporation that pays the caretaking fees to the manager.

FURNITURE AND FINISHES

THE FURNITURE PACKAGE
With some of our developments we offer furniture packages which include all furniture, accessories and janitorial equipment required to make your Landseer purchase ready for occupation.

Q: How does the Furniture package work?
A: The Furniture package is an optional extra that may be included in the sale price of your apartment. Furniture packages are recommended to ensure the quality and consistency of the letting pool.

Q: What standard of finishes can I expect?
A: A high quality of finishes and light, refreshing colours that are designed with the location and style of the development in mind.

SECURITY

Q: What security systems are in place?
A: Modern security systems will be implemented as appropriate.