TERMS & CONDITIONS

Detailed description of goods and/or services

New Property Specialists ABN: 49 567 544 862 is an Australian based business in the real estate industry.

Responsibility

New Property Specialists takes responsibility for all services sold on this website, customer service and support and dispute resolution.

Customer Privacy policy

New Property Specialists takes all reasonable steps to protect the personal information of users. More on our privacy Policy can be found here.

What we will do for you

We will do the various things that are set out in each of the packages that we offer.

Package Cost

The cost for each of our packages is dependent on which package you buy and whether or not it is being offered as a promotion. The cost is payable by VISA or MASTERCARD credit card.

Payment options accepted

Payment may be made only via Visa and MasterCard.

Customer details separate from card details

Customer details are stored separately from card details on Westpac’s Payway secure site.

Card security

All credit card payments are processed using a Secure Socket Layer (SSL) of 128-bit encryption.

Merchant Outlet country and transaction currency

The merchant outlet country is Australia. The transaction currency is Australian Dollars (A$).

Money back guarantee

We offer a full money back guarantee if you change your mind about proceeding with the package that you have bought. We will refund the full amount of the fee if you change your mind at any time prior to the delivery of the service to you.

Third party service providers such as finance brokers, lawyers, building inspectors and quantity surveyors etc

Because we have agreements with various third party service providers such as finance brokers, lawyers, building inspectors and quantity surveyors etc to provide services at reduced rates, we will refer all third-party work required to be done to our recommended third party service providers. We will however happily use and pay for any other service provider that you wish to use as long as their charges are reasonable and in line with industry standards.

Rental guarantee

If you purchase a property for investment purposes as part of the Investor’s Buying Package we will provide you with a rental guarantee for a period of 12 months at the rate of 5% per annum of the initial purchase price, less 4 weeks rent for loss of rental arising from an inability to find the tenant whilst the property is in a condition to rent and is available to rent.

If you want a guarantee for a further period or periods of 12 months you will have to purchase an Investor’s Ongoing Management Package for each additional period of 12 months that you want the guarantee for.

The guarantee is only intended to cover loss of rental arising from an inability to find a tenant whilst the property is in a condition to rent and is available to rent. It is not intended to cover loss of rent when the property is not in a condition to be rented. That contingency is covered by the landlord’s insurance policy.

The terms and conditions relating to the rental guarantee are as follows:

  • you agree to use our recommended property manager

  • you agree to follow any reasonable direction and suggestions we make as to the management of the property

  • you agree to take out and pay for a landlord’s insurance policy that we recommend covering you against damage and loss of rental arising from any circumstances other than an inability to find a tenant.

  • you are liable for all the normal expenses involved in maintaining an investment property such as real estate agents charges, repairs and maintenance, council and water rates, body corporate charges, property insurances etc.

The following is an example of how the guarantee will work in practice.

Example

If the purchase price of your investment property is $500,000 the gross amount payable in terms of the guarantee is $25,000 less an amount representing the equivalent of four weeks rent.

So in this example the rental guarantee would be for $23,080 calculated as follows:

  • $500,000 x 5% = $25,000. This translates to a weekly rent of $480.

  • $480 x 4 weeks =$1,920

  • $25,000-$1,920= $23,080 which is the amount of the rental guarantee.

So assuming that at the end of the 12 month period the total gross rent received is anything less than $23,080 we will pay you as a lump sum the difference between the gross rent received and $23,080.

Country of domicile

This website is governed by the laws of New South Wales Australia and New Property Specialists chooses as its address for all purposes under this agreement, whether in respect of court process, notice, or other documents or communication of whatsoever nature, Suite 802, Level 8, 55 Clarence Street, SYDNEY, NSW 2000.

Variation

New Property Specialists may, in its sole discretion, change this agreement or any part thereof at any time without notice.

New Property Specialists contact details

T: +61 1300 155 661 E: enquiries@newpropertyspecialists.com.au A: Suite 802, Level 8, 55 Clarence Street, SYDNEY, NSW 2000.