Ladies/Gents
Are there opinions on buying serviced apartments and 'renting' them to companies. I am referring to buying 2 bdrm apt and renting to QUEST (Townsville). This is the info I have:
Cost = $200,000-$250,000 (depending on apt)
Lease = 7% of cost for 2 yrs, the 4% incrase therafter per year
Lease = 5yrs initial (3x5 yr options thereafter for owner)
Owner responsible for capital costs (estimated at $5000 after 5 yrs)
Insurance, water rates, internal furnishings responsability of QUEST
I have persoanlly stayed in these apt for work previously and they are quite good. Location on waterfront, with great views.
Opinions????
Dr Kaos
Are there opinions on buying serviced apartments and 'renting' them to companies. I am referring to buying 2 bdrm apt and renting to QUEST (Townsville). This is the info I have:
Cost = $200,000-$250,000 (depending on apt)
Lease = 7% of cost for 2 yrs, the 4% incrase therafter per year
Lease = 5yrs initial (3x5 yr options thereafter for owner)
Owner responsible for capital costs (estimated at $5000 after 5 yrs)
Insurance, water rates, internal furnishings responsability of QUEST
I have persoanlly stayed in these apt for work previously and they are quite good. Location on waterfront, with great views.
Opinions????
Dr Kaos