At PRDnationwide we stand behind our investment apartment products. For participating apartment projects we guarantee the rental rates we quote for two years from the day of settlement for a limited number of apartments in each project.
You no longer have to worry about how much rent you will get or whether it will be occupied for the first two years.
- Peace of mind knowing your rent will come in every month,
- Worry free property management by an experienced team, and
- Fair fees and charges.
PRDnationwide offers apartment buyers a guarantee of a fixed weekly minimum rent equal to the rental appraisal provided at the time of purchase for a two year period from the day the apartment is available to lease (ie settlement has taken place, access is possible and blinds are installed).
If the property is vacant for any part of any month, or is rented for a figure lower than the guaranteed rate, then PRD will contribute the difference between the guaranteed rent and the actual rent received during that month. Prior to net rental proceeds being paid to the owner, expenses such as Management Fees, Letting Fees and any maintenance costs will be deducted.
The property must be managed by PRD during the period of the guarantee under our normal terms of management. A copy of PRD’s standard Management Authority terms and conditions will be provided. If the owner withdraws the property from PRD’s management then this guarantee will immediately cease to apply.
PRD shall be entitled to determine the rental rate for the property during the period of the guarantee.
PRD will only offer this guarantee to a limited number of apartment buyers in any one complex. PRD reserves the right to withdraw this offer at any time, should it fill its allocation for the project or for any other reason.
This guarantee is not transferrable. Therefore if the property is sold the guarantee comes to an end on the day of settlement.
The rental guarantee ceases during any period in which the apartment is not capable of being occupied due to fire, earthquake or other similar event.