Cedar Settlement Kit

CEDAR, GREENSLOPES Brisbane, QLD

SETTLEMENT KIT

Prepared by CPS Property

www.cpsproperty.com.au

KEY contacts Valuer Access Ella Hilton M: 0419 648 720 E: ehilton@blueskyfunds.com.au

Depreciation BMT Quantity Surveyors: Matt Jenkins M: 0447 790 018 E: mattj@bmtqs.com.au

Site Visits & Inspections Ella Hilton M: 0419 648 720 E: ehilton@blueskyfunds.com.au

Defect Report A Plus Property Inspections P: 0410 473 600 W: aplusinspections.com.au

Rental Appraisals & Key Collection On-site Property Manager: Direct Apartments P: 0412 039 064 E: lucas@directhotels.com.au

Landlord’s Insurance EBM Insurance: Sally Costello P: 1800 661 662 E: admin@rentcover.com.au

Strata Archers Body Corporate P: 07 3220 9400 E: info@abcm.com.au

Contents WELCOME TO THE CPS FAMILY

06

Inspecting Your Property

08

Financing Your Property

11

- Understanding Valuations Managing Your Property

14

Managing Your Cashflow

16

- Depreciation - Income Tax Variation Landlord’s Insurance

20

OTHER things to consider

23

Final Checklist 24 FAQ SECTION 25

Congratulations on your purchase at Cedar Greenslopes, QLD.

Welcome to the CPS family CPS Property is a market leader in property research and we are excited by the investment potential of this project.

The timing of your settlement is fast approaching and here are some guidelines for the important dates to help you prepare.

1.

Practical Completion is anticipated for mid November 2016.

2.

Defect and pre-settlement inspections can be arranged (by appointment only) once practical completion has been reached.

3.

Purchaser Defect Reports: All correspondence and follow up must be sent and directed to the Assistant Development Manager:

Jessica Dwyer E: jdwyer@blueskyfunds.com.au

The developer will then liaise with the construction company to address

each defect (if any identified). Please also CC Ella Hilton into the e-mail: Ella Hilton E: ehilton@blueskyfunds.com.au

4.

Anticipated access for valuers is mid to late October 2016. No valuers will be allowed on site prior, access will only be granted to qualified valuers who have made an appointment.

Ella Hilton E: ehilton@blueskyfunds.com.au

5.

The developer is aiming for settlement to occur late November 2016.

These dates may change as they can be influenced by external factors. As settlement approaches we will advise you of more specific information and dates. Purchasers can inspect their unit prior to settlement. This can be done personally, by a nominated professional agency or as a joint inspection. Inspections can be organised by contacting:

Ella Hilton P: 0419 648 720 E: ehilton@blueskyfunds.com.au (The developer are also the contact for valuer access.)

Feel free to contact Jacob O’Neill or Shaun Ellis if you have any further questions.

Regards,

Jacob O’Neill Shaun Ellis Director Director

THE CEDAR PROJECT Cedar, Greenslopes QLD The suburb of Greenslopes is located 4 kilometres south-east of the Brisbane Central Business District (CBD). The dwelling landscape is diverse with a mix of tin and timber Queenslander homes, older six-pack style developments and more modern medium density developments. The suburb is bordered to the west by large tracts of open space and Norman Creek.

Featuring one and two bedroom apartments with large terraces and spectacular outlooks to the north, east and west, the Cedar apartments are exceptional as investments and outstanding as private residences. Located on Hanlon park site and surrounded by wide, tree lined streets, Cedar is positioned moments from bustling Stones Corner.

Inspecting Your Property Handover Defect Reports When investing in a new property, most purchasers will choose to have a handover defect report carried out before they settle. A defect report should be conducted by a professional with experience in the construction industry however, some investors choose to do their own inspection and report.

It is important to note that you still have a contractual obligation to settle the purchase of the property on time. A report will be submitted to the developer for their attention to rectify, however this will not delay settlement. If you do not have a defect report carried out prior to settlement, you do have 90 days from the day of settlement to submit your report to the developer.

CPS Property recommends A Plus Property Inspections (A Plus) for this process: A Plus Property Inspections W: www.aplusinspections.com.au

P: 0410 473 600 E: karina@aplusinspections.com.au

Following is an application form that should be completed and e-mailed to karina@aplusinspections.com.au. Alternatively, please fill in the online booking from at www.aplusinspections.com.au which is located on the front page of the website.

CPS Property has negotiated for A Plus to conduct the inspection and provide a report within 48 hours for a reduced fee of $300 (inclusive of GST) per apartment.

Should any defect be identified and you wish for A Plus to re-attend to inspect the repair, the charge of that service is $110 (inclusive of GST).

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Who Are We? A Plus Property Inspections focuses on newly built apartments purchased off the plan.

Why Use Us? With 12 years of experience, we understand the tricks of the trade, are up-to-date with industry standards, and know quality workmanship.

WhAt Do yoU Get? Peace of mind with quality professionals who can identify defects and ensure you get what you paid for. Our process can save you thousands. A final comprehensive report outlines all defects and we work with the builder to get them fixed. our simple six-step Process 1. Contact us to book!

2. We organise our inspection with your builder, which saves you time and effort.

3. Our inspectors carry out an extensive checklist to identify defects.

4. You receive a detailed inspection report within 24 hours.

5. We will provide advice, make recommendations, and talk through all concerns.

6. We work with the builder to ensure defects are satisfactorily remedied.

Contact us today and save thousands!

Karina Kirkpatrick, Director 0410 473 600 karina@aplusinspections.com.au www.aplusinspections.com.au

Acceptance & Return Quote

:

Contact Details Required Full Name: Phone: Email: Postal Address: Address of Investment Property:

Name and Contact of Builder:

Payment Method:

Remittance of payment must be accompanied with this quotation acceptance.

By Cheque:

Cheques to be made out to A Plus Property Inspections

By EFT:

BSB: 484-799 ACC: 053 152 804 Name: A Plus Property Inspections (Please reference your last name and apartment number)

By Credit Card:

(Please note that if you would prefer we contact you directly for these details, please leave off the last 4 digits).

Card Holders Name: Card Number:

Expiry (mm/yy):

CVV:

I am interested in a handover defect inspection for a unit: I request a copy of the report to be sent to the vendor’s representative Jessica Dwyer on jdwyer@blueskyfunds.com.au and CC Ella Hilton on ehilton@blueskyfunds.com.au

Terms & Conditions:

1. A Plus Inspections will complete all Pre-Handover Defect Inspection Reports in accordance with Australian Standards AS4349.0 and AS4349.1 – 2007 and Building Commission Guide to Standards and Tolerances – 2015

2. A Plus Inspections are not liable for any Structural Defects throughout Pre-Handover Inspections 3. A Plus Inspections are not liable for any Pest Inspections throughout Pre-Handover Inspections 4. Payment remittance must be received prior to Pre-Handover Inspection

5. All Reports are completed in conjunction with QBC C Licence # 1169547

www.aplusinspections.com.au | karina@aplusinspections.com.au | Ph: 0410 473 600 | ABN: 91 517 914 374

Financing Your Property START ORGANISING FINANCES If you have not already done so, it is vital you arrange finance with your mortgage broker or financial institution as soon as possible. This will ensure a smooth settlement process. If easier, CPS Finance are more than happy to assist you with this task.

CPS Finance

P: 1300 937 277

W: www.cpsfinance.com.au

RENTAL APPRAISAL Your bank may request a rental appraisal in order to confirm how much your investment will be earning. Please contact Direct Apartments for an updated rental appraisal which you can forward onto your bank.

Lucas Scammell

P: 0412 039 064

E: lucas@directhotels.com.au

VALUATIONS As part of obtaining finance for a property purchase, banks order a valuation. Sometimes the valuer does a ‘desktop’ valuation, a ‘drive by’ valuation or usually they inspect the property. If your bank or financial institution valuer requires access to the property to conduct their valuation they should contact Ella Hilton from Bluesky on 0419 648 720 to arrange this access. Following is an overview from CPS Property explaining the valuation process.

Prepared by CPS Property

11

Understanding Valuations When investing in property most people will obtain a loan from a bank or lending institution. The bank will use the property as security and will agree to lend a percentage of the value of the property, for example 80% or 90%. This is referred to as the Loan to Valuation Ratio (LVR).

As part of the loan approval process the bank will arrange for a valuation to be conducted on your property. Now, most of us would assume that the purchase price is the ‘value’ of the property – after all, it has been set by market forces and is a true representation of what the market is willing to pay. The bank and its valuers do not necessarily see it this way.

Banks instruct valuers to take a very conservative approach to valuations. They use historical sales to determine value and typically only look at comparables in a 1km radius.

This can be a problem for new property that has no true comparables or property that is superior because of its location, size, finishes, amenities or design. In these cases it is virtually impossible for a valuer to provide a true valuation as there will be a clear lack of comparable sales.

Investors and valuers often have different opinions on property due to different objectives and mindsets...

INVESTORS

VALUERS

Are ‘looking forward’ i.e. investing based on the potential for growth.

Are ‘looking back’ i.e. using historical sales to determine value.

Are looking to buy at the bottom of the cycle - as this provides the most opportunity for growth.

Tend to provide high valuations at the top of the market cycle (which is actually a dangerous time for investors to enter the market) and low valuations at the bottom of the cycle.

CPS property invests significant time in due diligence to assess each property before it is approved. The period of assessment is 6 weeks.

Are investing for the medium to long term to create wealth for them and their families.

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Some valuations are done as a ‘desk top’ valuation, where the valuer does not leave the office and many are ‘drive bys’ where the valuer does not get out of the car.

Are doing a job with a short term focus. Since the GFC, they have been instructed to be extra conservative, and are under the threat of being sued by the banks.

What does it mean to you?

Planning Ahead

The valuations for most properties will come in near or on the purchase price, however a valuation shortfall does not mean the bank won’t lend you money to proceed with your investment... it just means they will lend you less. For example, if your investment property was priced at $300,000 and the valuation came in at $280,000. The bank would now only lend you 80/90/95% of the lower valuation amount.

Investing in property is about ‘Knowing Your Numbers’ and managing and preparing for potential risks. If investing in property ‘off-the-plan’ you should plan ahead so you can deal with a potential valuation shortfall. Strategies include: •

•

•

Creating a financial buffer – either savings or equity that you can use if required; Do not wait until the last minute to apply for finance – in case you need to ‘shop around’; Work with a good Mortgage Broker – you don’t want to be locked into one lender.

Prepared by CPS Property

13

MANAGING YOUR PROPERTY PROPERTY MANAGEMENT Investors usually choose to use a professional Property Management organisation to manage the on-going maintenance and the collection of rent for their investment property. Property Managers can also liaise with the body corporate and manage the expenses associated with your investment. Insurance renewals, Water, Council and Strata rates can be directed to the Property Manager, who can then pay these bills out of your rental income. Many investors find this much more convenient than trying to manage the expenses themselves.

To assist you in managing your investment, CPS Property recommends that you speak with Direct Apartments to discuss the management of your property. You are under no obligation to use them, however should you wish to appoint them as your agent, they will work towards obtaining a tenant as soon as possible following settlement.

If you would like to call them directly for more information on their services or to request a profile, their details are below:

Direct Apartments P: 0412 039 064

E: lucas@directhotels.com.au

MANAGING YOUR Cashflow DEPRECIATION The Australian Tax Office allows property owners to claim a deduction on the “wear and tear� of their investment property. This is called depreciation. This deduction can be obtained by any property owner who obtains income from their property.

Claiming your depreciation can increase your tax refund significantly and therefore makes a positive contribution to your cash flow. In order to claim your deduction, your accountant will require a depreciation schedule. These depreciation schedules must be prepared by a qualified quantity surveyor.

You may have been provided with an indicative depreciation schedule when you invested in the property, however you will need to obtain an accurate schedule and provide to your accountant when completing your 2016/2017 tax return.

CPS Property recommends BMT Quantity Surveyors to carry out the depreciation schedule for you. CPS Property has negotiated for BMT to provide this service at a reduced fee of $330 (inclusive of GST).

Following is the application form that you can submit to BMT Quantity Surveyors if you do choose to use them to prepare your depreciation schedule.

Matt Jenkins

M: 0447 790 018

E: mattj@bmtqs.com.au

INCOME TAX VARIATION As an investor you may wish to discuss with your accountant the option of submitting a PAYG withholding variation to make sure that the amount withheld during the income year best meets your end-of-year liability.

For example, if the normal rate of withholding leads to a large credit at the end of the year because your tax-deductible expenses are now higher, you may want to vary your withholdings.

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Cedar - Settlement Kit

Congratulations on the purchase of your investment property In conjunction with CPS Property, BMT Tax Depreciation would like to offer you a reduced fee for a depreciation schedule on your new property.

What is tax depreciation?

As buildings get older they wear out. The Australian Taxation Office (ATO) allows property investors to claim this wear and tear as a deduction - this is called depreciation. Research shows that approximately 80 per cent of property investors are not claiming the maximum depreciation they are entitled to, which can lead to thousands of dollars missed in tax deductions.

Depreciation facts:

• Property depreciation schedules show deductions for up to forty years • Adjust previous tax returns, if you have not been claiming or maximising your property depreciation entitlements

• 100% tax deductible fee • BMT works with your Accountant to maximise deductions Expected deductions: By obtaining a BMT Tax Depreciation schedule for your property located at 'Cedar, Greenslopes' 9-15 Regina Street, Greenslopes QLD, your depreciation deductions for the first full year of ownership are outlined in the below table.

Minimum depreciation deductions year 1

$10,204

Maximum depreciation deductions year 1

$16,045

Special reduced fee Reduced fee offer of $330 incl.

GST per standard residential unit.

Normal fee $770 incl. GST.

Note: Depreciation deductions obtained will depend on the purchase price and unit size.

To order your depreciation schedule today, please complete the form overleaf and return to BMT Tax Depreciation or call your local BMT office on 1300 728 726.

BMT guarantee double our fee in deductions in the first full year or there is no charge for our service.

Application form 'Cedar, Greenslopes' 9-15 Regina Street, Greenslopes QLD 4120 If you are unsure of any of the below details please leave them blank and we can complete this at the time of ordering your schedule.

TELL US ABOUT YOU Name

Name/s the schedule is to be made in

Your address

State

Postcode

Email

Phone

Home

How did you hear about BMT

CPS Property

TELL US ABOUT YOUR INVESTMENT PROPERTY Unit number

Purchase price

Settlement date

Any additional items added to the property since purchase (eg. blinds, $1,500, 01/07/14)

ACCOUNTANT DETAILS Accountant Phone

Company Email

PAYMENT DETAILS Amount (Residential properties)

$330 incl. GST



Cheque or money order



Mastercard

Please charge my credit card

Name on card



Visa CCV numbers

Signature

For further information on payment options please visit bmtqs.com.au/payments or call 1300 728 726.

Expiry date

(2016_MJ)

Email completed form to investor@bmtqs.com.au

(CPS Property) 2016_SL348

LANDLORD’S INSURANCE LANDLORD’S INSURANCE It is extremely important that you have the correct insurance for your investment property. Landlord’s Insurance will provide you protection against damage to the inside of your property and can cover a loss of rent for any number of reasons.

CPS Property recommends using EBM Insurance.

EBM Insurance specialise in Landlord’s insurance and can provide one of the most comprehensive insurance policies for you at a competitive rate. It is recommended that the landlord insurance is obtained before settlement, with a policy commencement of the settlement date or just before.

EBM Insurance includes cover for malicious damage, unpaid rent, damage to contents, water damage and fires.

To find out more about EBM, included is a profile of the services they provide and an application form if you wish to elect EBM as your insurer.

You can also visit their website at www.ebminsurance.com.au.

CPS Property strongly recommend you to complete the application and return it to our office.

CPS Property

P: 1300 937 277

E: info@cpsproperty.com.au

CPS will then activate the policy at settlement for you.

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Cedar - Settlement Kit

What every successful landlord needs: Location, location, location. And insurance.

Owning an investment property should be a rewarding experience, but tenant trouble or plain bad luck can turn it into a drama if you don’t have the right insurance cover.

Issues such as job loss or illness can lead to tenants defaulting on rent or abandoning the property. Even with perfect tenants, events like storms, earthquakes, fire and burglary can damage the home and contents.

EBM Insurance Brokers has created the RentCover range of products to help you protect your asset and its earning power against damage and rent loss.

Competitively priced and broad in cover, RentCover policies allow you to relax and let your investment earn money.

We know all the ‘ins’ and ‘outs’ of investment properties, and when you make a claim our team will ensure that you get prompt, personal attention.

Most claims are settled within five days.

The features of RentCoverUltra and RentCoverPlatinum are outlined in the table to the right.

RentCover Underwriting Agency Pty Ltd is an authorised representative (AR No. 325630) of EBM Insurance Brokers Pty Limited ABN 31 009 179 640, who is an Australian Financial Services Licensee (AFSL No. 246986). RentCoverUltra and RentCoverPlatinum products are issued by RentCover and EBM as agent for the insurer. You should always consider the Product Disclosure Statement (PDS) to see if the product is right for you. A copy of the PDS is available on our website or you can contact us for a copy

Loss of rent due to:

RentCoverUltra

RentCoverPlatinum

Denial of access

52 weeks

52 weeks

Prevention of access Death of a tenant Accidental damage Malicious damage by the tenant Theft by the tenant1 Default of rent

52 weeks 52 weeks 52 weeks 52 weeks 52 weeks 6 weeks

52 weeks 52 weeks 52 weeks 52 weeks 52 weeks 6 weeks

Broken leases Tenant hardship

6 weeks 6 weeks

6 weeks 6 weeks

Defined events to the contents2 Defined events to the building

52 weeks n/a

52 weeks 52 weeks

Theft by the tenant

$50,000 $50,000 $50,000

$50,000 $50,000 $50,000

Damage due to defined events

n/a

Up to sum insured

Accidental damage1 Malicious damage by the tenant1

$50,000 $50,000

$50,000 $50,000

Theft by the tenant1 Damage due to defined events2

$50,000 $50,000

$50,000 $50,000

Legal costs (in minimising a rent loss)

$5,000

$5,000

Legal liability Workers compensation (WA only)

$30,000,000 Included

$30,000,000 Included

Loss or damage to the building: Accidental damage Malicious damage by the tenant

Loss or damage to specified contents:

Malicious Damage for contents items supplied by the landlord for the tenants' use can be insured for a small additional premium ² Defined risks (fire, storm, water damage etc.) applies to contents items supplied by the landlord for the tenants' use. Please refer to the Policy Wording and PDS for full details www.rentcover.com.au.

4/651 Victoria Street Abbotsford VIC 3067 | All enquiries: 1800 661 662 www.rentcover.com.au | enquiries@rentcover.com.au Elkington Bishop Molineaux Insurance Brokers Pty Ltd | ABN 31 009 179 640 | AFSLN 246986 | Est 1975

60 Days Free Insurance Cover*

(conditions apply)

By completing the form below you will receive a discount off the annual premium of the policy selected equivalent to 60 days premium.

Important Information Our advice about insurance is provided for your general information and does not take into account your particular individual objectives, financial situation or needs. Before deciding whether this policy is appropriate for you, we recommend that you read the Product Disclosure Statement and consider the appropriateness of the policy.

SELECT YOUR PROPERTY TYPE BELOW AND COMPLETE THE RELEVANT DETAILS INCLUDING THOSE AT THE BOTTOM OF THIS FORM - RETURN IT TO US TO OBTAIN YOUR 60 DAYS FREE COVER PERMANENTLY LET RENTAL PROPERTIES (residential lease) STRATA-TITLED UNIT, TOWNHOUSE, VILLA RentCoverUltra combines the features of a “defined events” contents policy (fire, storm, water damage etc.) with extensive cover against tenantrelated risks such as rent default and damage.

HOUSE or OTHER FREE-STANDING SINGLE DWELLING – select one option below only RentCoverUltra (Landlord & Contents only) as detailed above or, RentCoverPlatinum combines the features of a “defined events” building & contents policy (fire, storm, water damage etc.) with the tenant-related features of RentCoverUltra at a heavily discounted premium.

By signing below you certify:

•

There is/was no existing problem that has already occurred or was occurring (RentCoverUltra or RetCoverPlatinum will not pay claims for problems which have already commenced).

• •

The rent was up-to-date.

There is a bond held on the property equivalent to a minimum of four (4) weeks rental value or if there is no existing tenant I understand that a bond must be collected equivalent to a minimum of four (4) weeks rental value prior to the tenant occupying the property.

•

I have read and understood the Financial Services Guide, Product Disclosure Statement (PDS) and Policy Wording (available at www.rentcover.com.au or by calling 1800 661 662).

Insured Property Address: Insured Name:

Signature:

Number of properties insured with EBM:

→

Date :

Weekly Rent: $

/

/

NB: Rent higher than $1,000 per week will attract a higher premium

Is the Property Strata Titled?

YES /

NO If yes, please advise the type of strata held (e.g. survey, standard or community etc)

Will the Property be sublet?

YES /

NO NB: Subletting is not covered by this policy

Is the Property fully furnished?

YES / NO NB: Fixtures and fittings included in standard policy If yes, would you like cover for your furniture against Malicious Damage (additional premium) YES /

NO

Postal Address: C/- CPS Property Commencement date:

/

/2016

Phone:

Mobile:

(the date your 60 days free cover is to commence, this may be the date contracts are exchanged or the signing of management agreement, policy cannot be backdated)

Name of Agency: CPS Property

Suburb/town: SURRY HILLS

Email: Does the home have an in ground swimming pool?

YES /

NO

Is the home two or more storeys?

YES /

NO

Is the home on stilts?

Is there any portion of the Building or Contents located below ground level? E.g. basement, garage, storage room Please complete if selected RentCoverPlatinum Walls: Brick / Other Roof: Tiles /

Other

Year built:

If property is more than 70 years old, has it been within the last 25 years Is the property heritage listed? x

YES /

NO

Rewired?

YES /

NO

YES /

NO

Sum Insured: $ YES /

NO

Replumbed?

(building)

YES /

NO

Mortgagee:

My cheque is enclosed (payable to EBM Insurance Brokers) Please debit my rental account (and renew annually via the same method until otherwise advised) Please debit my credit card as details: Visa Mastercard Card No: Expiry:

/

CVV/CVC No:

(on reverse of card)

Signature:

Date :

/

/

Choice of insurance is yours to make and you may choose not to take out insurance: I acknowledge that my property manager has advised me of the risks associated with owning a rental property however I choose not to take out insurance at this time. Landlords Name.

Signature: Date: / /

Return in the reply paid envelope provided or mail to:

EBM Insurance Brokers PO Box 49, Richmond 3121

CO45

RERCA4026-130327

OTHER THINGS TO CONSIDER OTHER INSURANCE AND UPDATING YOUR WILL When purchasing a major asset, it is also advisable to review other Insurance policies.

You may wish to consider Income Protection or Life Insurance. You should also consider updating your will to include your investment property.

CPS Property is not a financial planner and cannot provide advice in relation to insurance, however if you need a contact please call our office and we will be happy to refer you to a specialist.

STRATA MANAGEMENT AND BODY CORPORATE The developer has appointed Archers Body Corporate as the strata manager, who will be in contact shortly after settlement.

Archers Body Corporate Address: Level 4, 97 Creek Street Brisbane City Mailing: GPO Box 3025 Brisbane QLD 4001 E-mail: info@abcm.com.au Phone: (07) 3220 9400

Fax: (07) 3220 9499

If you have not been contacted by a strata manager within 4 weeks following settlement, please contact us on 1300 937 277.

UTILITIES Once the property has been leased, the tenant can connect the electricity and gas. They can also connect up to a landline phone and the internet if they wish.

You will not be required to connect any of the utilities (Gas or & Electricity) personally.

The landlord is responsible of the cost of connecting the first landline in a brand new building.

Prepared by CPS Property

23

Final checklist Have you appointed a Property Manager?

¨

Have you organised your landlord’s insurance?

¨

Have you completed your defect report? ¨ Have you received all warranty booklets and keys? ¨

QUESTIONS AND ANSWERS FREQUENTLY ASKED QUESTIONS Q: If we have defects, can we delay settlement until it is fixed?

A: No. Minor defects cannot delay the settlement process, only major structural ones.

You have 90 days to lodge any defects post settlement.

Q: Do we have to do a defect inspection prior to settlement?

A: No, however CPS Property recommends that you do so in order to take advantage of the defect period. CPS Property has recommended a professional agency to undertake this. Keep in mind that any additional defects that get picked up once tenants are living in the property can be nominated during the defect period.

Q: How long does the developer have to fix defects?

A: As stated in the contract the developer has a ‘reasonable amount of time’ post settlement to fix any defects, a ‘reasonable amount of time’ varies on the items which need to be rectified, this is something that you will need to discuss with your solicitor.

Q: When do we need to get the depreciation schedule for the property?

A: A depreciation schedule can be obtained any time after settlement, and your accountant will require this when you are lodging your tax return in order to receive the maximum tax benefits.

Prepared by CPS Property

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Q: Who do I contact to arrange a pre-settlement inspection?

A: The contact person for pre-settlement inspections has been outlined in the key contacts section on the second page of this settlement kit.

Q: What insurance do I need? Does the strata cover some of my insurance?

A: This will depend on the type of property you have purchased. You will require landlord’s insurance if you have purchased the property as an investment. If you have purchased a property with a strata title, the majority of your insurance will be covered in your body corporate rates. If it does not have a strata manager or scheme you will need to get building and home and contents insurance. Please consult with your insurance provider to make sure you have the cover that’s right for you.

Q: Where are the keys upon settlement?

A: Keys are usually handed over from the developer, developers solicitor or the on-site Property Manager. Please refer to the key contacts section on page 2 of this settlement kit, which will outline where you can collect the keys upon settlement.

Q: Can someone other than myself pick up keys after settlement?

A: Yes. A Property Manager or other party can collect the keys on your behalf so long as you provide written permission to the developer. Please refer to the key contacts on page 1.

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CONTACT 1300 YES CPS 1300 937 277

WEBSITE www.cpsproperty.com.au info@cpsproperty.com.au

ADDRESS Suite 406, 55 Holt St Surry Hills NSW, 2010, Australia