Your Opus Broadbeach Property Management Guide

Your Property Management Guide Short & Long-Term Rentals

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Welcome to Opus Congratulations on the purchase of your new apartment in Opus Broadbeach.

The unsurpassed views available in Opus along with the premium location mean Opus is firmly on the radar of anybody seeking a quality of life rarely available in this prized beachside location.

As an investment opportunity, Morris Property Group’s newest boutique development is a compelling offer for discerning buyers.

Your new Opus apartment is also an equally compelling offer for those who may wish to rent or holiday in this brand new luxury building.

If you are considering leasing your new apartment on a long or short term basis, Morris Property Group’s property management service, MPG Unit Management, offers the ultimate peace of mind.

Who better to ensure your property is professionally maintained and managed than the team with over 40 years of experience who developed and built Opus?

MPG know both your apartment and the building back to front and offer a service unmatched by any other agency. Our Property Management team offer owners the peace of mind of being both your Building Manager and letting agent. We are always on hand to keep a watchful eye over your property and deal with any issues that may arise swiftly.

We will aim to ensure your apartment is ‘tenant ready’ at settlement, and with our longstanding presence in the Broadbeach market we are well placed to get you the best return on your investment.

In keeping with Opus’ quality living spaces, Morris Property Group has also collaborated with Noble House Furniture who are renowned for their luxe fit-outs of hotels, resorts and premium apartments.

In doing so we have secured a furniture package for every floor plan and colour scheme, designed with both long-term and holiday rentals in mind. Noble House Furniture is pleased to offer an obligation-free consultation on the package that best suits your needs.

This booklet contains current market rental appraisals applicable to both short and long stays.

Please contact our principal licensee Travis Gielen on 0457 146 111 or at opusmanager@morrispropertygroup.com.au should you have any queries.

We look forward to discussing your property management needs.

MPG Unit Management Pty Limited Barry Morris Director

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Opus Property Management Services Your Property Management Package MPG Unit Management will handle all of your property management needs. Using the latest technology we deliver a seamless service, and our experience in the Broadbeach market means we are extremely well placed to maximise your investment returns.

Our property management package includes the following services:

large tenant database

quarterly inspections & reports

seamless lease renewals

monthly & eofy statements

rental market assessments at each lease renewal

comprehensive tenant screening

free market appraisals

24/7 owner access to portals

onsite maintenance & repairs

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onsite property management team

Your Property Management Requirements There are a number of items to arrange at the outset and throughout your Leasing engagement.

Below are just some of the items which we will arrange for you and your guests.

window cleaning

guest arrival & convenience packs

spring cleaning & housekeeping

full linen service

handyman services

landlord/holiday letting insurance quotes

maintenance & repairs

replacement purchases

fully inclusive turn-key packages

carpet/steam cleaning

depreciation schedules

hire services

bicycles | surfboards & surfing lessons | car hire | transport (airport connections)

pest control

tour bookings

whale watching | gold coast attractions & theme parks fishing charters | child-minding services

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Dressed for success Your apartment will be the discerning renter’s dream when it’s dressed with one of our exclusive furniture packages from Noble House Furniture.

Renowned for their luxe fit-outs of hotels, resorts and premium apartments, Noble House has designed a furniture package for every floor plan and colour scheme, with both long-term and short-term lets in mind.

All packages are ‘turn-key’ and include full kitchen, laundry and cleaning goods to ensure your property is guest or tenant ready.

We know that a one-size-fits-all approach is not what our valued clients want, so Noble House Noble house have devised two furniture packs to suit the two colour schemes offered at Opus: Ivory - This design works to reflect the ocean front location with a light and bright beach inspired design scheme using coastal furnishings with an emphasis on natural timber. Complementing the light oak is greys with varying shades of blue throughout.

Ebony - This design complements the finishes of the apartment effortlessly. The executive modern design showcases both a contemporary and comfortable look. A base of dark wenge timbers and grey upholstery is enhanced with the use of dark blues in key accent pieces.

Furniture packages are available as follows: • 2 bedroom packages start from $24,655.37 (incl GST) • 3 bedroom packages start from $27,280.45 (incl GST) For a full list of inclusions and an obligation-free consultation on the package that best suits your needs, please do not hesitate to contact us at opusmanager@morrispropertygroup.com.au

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Rental Appraisal Short Term | Long Term Rentals

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Long-Term Rental Appraisal

Opus Broadbeach 16-18 Chelsea Avenue BROADBEACH QLD 4218 To Whom it May Concern Rental Appraisal: Long Term I have undertaken a rental review of the Broadbeach apartment market to ascertain an estimate of the likely rent achievable for this property in the current market.

This estimate is made in comparison to rentals currently being achieved for similar properties within the area along with other properties currently under our management in our other developments.

Upon comparing similar, currently let properties as well as considering other available properties and current market conditions, it is my belief that apartments in Opus could achieve a rental return of: • 2 Bedroom, 2 Bathroom, 1 Car - $750 - $950 per week • 2 Bedroom, 2 Bathroom, 2 Living Area, 1 Car - $900 - $1100 per week • 3 Bedroom, 2 Bedroom, 2 Car - $1200 - $1600 per week If you require any further information please do not hesitate to contact the undersigned on 0457 146 111 or opusmanager@morrispropertygroup.com.au Yours sincerely,

MPG Unit Management Pty Ltd Travis Gielen Licensee License No: 4435822

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Short-Term Rental Appraisal

Opus Broadbeach 16-18 Chelsea Avenue BROADBEACH QLD 4218 To Whom it May Concern Rental Appraisal: Short Term (Holiday) I have undertaken a rental review of the Broadbeach apartment market to ascertain an estimate of the likely nightly rates achievable in the current market.This estimate is made by comparing other short-term accommodation offers currently being achieved for similar properties within the area.

Upon comparing similar, currently let properties as well as considering other available properties and current market conditions, it is of my belief that the below mentioned apartments could achieve a short-term rental of: LOW SEASON: • 2 Bedroom Deluxe apartments - $285 to $335 per night • 2 Bedroom Premium apartments - $350 to $420 per night • 3 Bedroom Luxury apartments - $850 per night HIGH SEASON: • 2 Bedroom Deluxe apartments - $520 to $620 per night • 2 Bedroom Premium apartments - $600 to $750 per night • 3 Bedroom Luxury apartments - $1400 per night If you require any further information please do not hesitate to contact the undersigned on 0457 146 111 or opusmanager@morrispropertygroup.com.au Yours sincerely,

MPG Unit Management Pty Ltd Travis Gielen Licensee License No: 4435822

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Projected

Annual Return Short Term | Long Term Rental

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Projected Short-Term Rental Returns 2 Bedroom (Premium)

2 Bedroom (Deluxe)

3 Bedroom (Luxury)

Levels 2 - 14

Levels 15 - 27

Levels 2 - 14

Levels 15 - 27 Levels 19 - 27

Estimated % of Online Travel Agent (OTA) bookings

60%

60%

60%

60%

60%

Online Travel Agent (OTA) estimated fees rates vary

20%

20%

20%

20%

20%

Variable fees & charges per booking

Property Management/Marketing fees

18.15%

18.15%

18.15%

18.15%

18.15%

Guest welcome convenience packs

$20

$20

$20

$20

$25

Departure cleaning/linen

$150

$150

$150

$150

$190

$109,930

$134,186

$91,893

$108,678

$262,650

$13,192

$16,102

$11,027

$13,041

$31,518

$96,738

$118,084

$80,865

$95,636

$231,132

Management/marketing fees (18.15%) 3

$17,558

$21,432

$14,677

$17,358

$41,950

Guest welcome convenience packs 4

$1,734

$1,734

$1,734

$1,734

$2,167

Departure cleaning/linen

$13,002

$13,002

$13,002

$13,002

$16,469

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Estimated Gross Revenue

1

Less estimated OTA charges

2

Estimated Net Income Operating Costs

Insurance

4

$450

$450

$450

$450

$800

Pest control 2 x per annum (Approx.)

$80

$80

$70

$70

$100

Window cleaning per annum (Approx.)

$500

$500

$480

$480

$720

Unlimited Internet - per annum

$780

$780

$780

$780

$780

Repairs & Maintenance as required

At cost

At cost

At cost

At cost

At cost

Bond cleaning, carpet cleaning as required

At cost

At cost

At cost

At cost

At cost

Total Operating Costs

$34,104

$37,978

$31,193

$33,874

$62,987

Estimated Annual Net Income 5

$62,634

$80,106

$49,672

$61,762

$168,145

Estimated Weekly Net Income

$1,205

$1,541

$955

$1,188

$3,234

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* All Costs and charges listed are inclusive of GST. Forecasts are based on occupancies of 65% in Low season, 75% Mid season (weekends); and 85% in Peak season.

GROSS REVENUE CALCULATIONS REFERENCE TABLE

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Wholesaler/Online Travel Agencies (OTA’s) i.e.booking.com, expedia.com etc) are estimated at 60% of bookings at 20% OTA fee included in this forecast. All OTA’s charge different fees and only Actual fees will be charged.

2

Management/marketing fees are charged Net of Online Travel Agencies (OTA) fees.

3

Cleaning/linen and guest convenience pack forecasts are based on an average stay of 3 nights.

4

Estimated Annual Net Income does not include Body Corp. fees, Rates, Utilities, Land tax, Tax, Depreciation, and Amortisation.

5

Insurance Estimate based on an average furniture package value and Landlords Risk for short term letting.

6

Estimated based on the Gigafy High Speed Internet package offered by MPG Management Pty Ltd. 7

DISCLAIMER: Information contained and the forecasts provided within are based on information at the time of publication and based on current market trends and our best endeavours to provide accurate projections.

MPG Unit Management Pty Ltd does not accept any liability whatsoever for any direct, indirect, consequential or any other loss arising from use of such information and/or further communication in relation to it and recommend potential investors seek their own professional advice.

Season

Days

Nightly Rate

Occupancy

Sub-total

Total

2 Bedroom Premium (Levels 2-14) Peak

89

$600

85%

$45,390

Mid

50

$350

75%

$13,125

Low

226

$350

65%

$51,415

$109,930

2 Bedroom Premium (Levels 15-27) Peak

89

$750

85%

$56,738

Mid

50

$420

75%

$15,750

Low

226

$420

65%

$61,698

$134,186

2 Bedroom Deluxe (Levels 2- 14) Peak

89

$520

85%

$39,338

Mid

50

$285

75%

$10,688

Low

226

$285

65%

$41,867

$91,893

2 Bedroom Deluxe (Levels 15 - 27) Peak

89

$620

85%

$46,903

Mid

50

$335

75%

$12,563

Low

226

$335

65%

$49,212

Peak

89

$1,400

85%

$105,910

Mid

50

$850

75%

$31,875

Low

226

$850

65%

$124,865

$108,678

3 Bedroom Luxury

$262,650

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Projected Long Term Rental Returns TYPICAL LOW FLOOR

PER WEEK

PER ANNUM

RENTAL INCOME

$750

$39,000

Body corporate fees (approx.)

$85

$4,420

2 BEDROOM DELUXE - EXAMPLE, Unit 20 Level 6

1

Rates (approx.)

$87

$4,524

3

Land tax (approx.)

$33

$1,716

4

Property management fees (approx.)

$72

$3,753

$15

$780

Miscellaneous repairs (estimated) Landlord insurance (approx)

$8

$416

ESTIMATED NET INCOME

$450

$23,391

PER WEEK

PER ANNUM

RENTAL INCOME

$850

$44,200

Body corporate fees (approx.)

$86

$4,472

TYPICAL MID FLOOR 2 BEDROOM PREMIUM - EXAMPLE, Unit 102 Level 23

1

Rates (approx.)

$87

$4,500

3

Land tax (approx.)

$46

$2,390

4

Property management fees (approx.)

$82

$4,253

Miscellaneous repairs (estimated)

$15

$780

Landlord insurance (approx)

$8

$416

ESTIMATED NET INCOME

$526

$27,389

PER WEEK

PER ANNUM

$1200

$62,400

$92

$4,784

TYPICAL HIGH FLOOR 3 BEDROOM DELUXE - EXAMPLE, Unit 86 Level 19 RENTAL INCOME Body corporate fees (approx.)

1

Rates (approx.)

$100

$5,200

3

Land tax (approx.)

$60

$3,120

4

Property management fees (approx.)

$115

$6,005

Miscellaneous repairs (estimated)

$18

$963

Landlord insurance (approx)

$10

$520

ESTIMATED NET INCOME

$805

$41,808

Rates are approx. (Actuals will be calculated and made available post settlement from Gold Coast) City Council Property example - Rents will vary between layouts/levels 3 Land Tax is based on an example property and Individual Ownership 4 Property management fees are based on weekly rental return 4 Property management fees include leasing fee based on a 6 month lease 1 2

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MPG Unit Management Pty Ltd Fees and Charges LONG TERM LETTING

2 BEDROOM

3 BEDROOM

6 month lease

12 month lease

One week rent

One week rent

7.7%

7.7%

Lease renewal fee

No Charge

No Charge

Monthly statements

No Charge

No Charge

End of financial year statements

No Charge

No Charge

Periodic inspections & reports

No Charge

No Charge

Featured listing

Premium listing

$150

$300

Application Fees

Preparation & attendance

At cost

$80 per hour

Lease negotiation fee payable at signing of lease.

1

Property Management letting commission

2

3

Advertising/Marketing

Mediation/Tribunal Fee

The 6 and 12 month leasing fee is a one off payment, payable to MPG Unit Management on lease commencement. There are no Lease renewal fees.

The property management fee is paid to MPG Unit Management Pty Limited from the disbursements paid to the lot owner at the end of each month.

Monthly statements are provided.

3 The advertising amount is invoiced and paid for by the Lot Owner to advertise on leading real estate portals. MPG Unit Management Pty Limited pay for the subscription for each listing portal.

1 2

SHORT TERM LETTING (CHARGES ONLY AS INCURRED) VARIABLE COSTS ON BOOKINGS Management fees, includes Advertising/marketing levy 2

18.15%

18.15%

1.5% surcharge

1.5% surcharge

$65 per month

$65 per month

$70/$80

$100

Departure cleaning (includes linen)

$150

$190

Mid stay clean when required

$100

$120

Guest arrival/Convenience packs

$20 each stay

$25 each stay

Maintenance Repairs

$88 per hour

$88 per hour

10% on invoice total

10% on invoice total

$40/42

$60

Deluxe $225 Premium $250

$350

Price to be confirmed

Price to be confirmed

$90 per clean

$100 per clean

Arranging and co-ordinating repairs

No Charge

No Charge

Monthly statements

No Charge

No Charge

End of financial year statements

No Charge

No Charge

Inspection fees

No Charge

No Charge

Varied at cost

Varied at cost

3

Credit card charges

Unlimited internet Pest control - 2 x yearly

Contractor repairs and replacement purchases Accessible window cleaning monthly Spring cleaning varies on layout Dry cleaning as necessary (ie mattress protectors/ doonas/beach towels) Carpet cleaning as required

4

OTA fees varied % (includes online booking sites)

The property management fee is paid to MPG Unit Management Pty Limited from the disbursements paid to the lot owner at the end of each month.

Monthly statements are provided. The management fee includes all advertising and marketing levies.

3 Credit card surcharge as incurred on bookings when applicable.

4 OTA (Online Travel Agents) Booking.com, wotif.com, agoda.com etc - varied fees, amount comes directly out of booking when secured on those sites.

5 Depending on carriers and the service offered.

6 Prices for items supplied by third parties may be subject to change.

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CONTACT TRAVIS GIELEN 0457 146 111 opusmanager@morrispropertygroup.com.au

MPG Unit Management Pty Limited ACN: 636 369 563

Current as at June 2021

DISCLAIMER: Information contained and the forecasts provided within are based on information at the time of publication and based on current market trends and our best endeavours to provide accurate projections. MPG Unit Management Pty Limited does not accept any liability for any direct, indirect, consequential or any other loss arising from use of such information and/or further communication in relation to it and recommends potential investors seek their own professional advice.