Geocon investment
property FAQ’s

Your investment property with Geocon

The Property Collective has been appointed to manage your investment property on behalf of Geocon.

There is a lot you need to understand when you are a property investor, particularly if it's your first time. And on top of that, you also need to have a good understanding of your Rental Guarantee (if you have one).

We want to make this as easy as possible for you. So we have put together a list of common questions we are being asked by owners like yourself.

Don't see the info you're looking for? Let us know and we'll get you an answer as soon as we can and also add it to this list.

1. How much is my rental guarantee?

Typically, the calculation for the rental guarantee amount is based on a percentage of the net purchase price of your apartment. The percentage and the length of the guarantee depend on the specific terms of your agreement. Variables like any extras you may have included in your purchase i.e. whitegoods, upgrades etc are not included in the net purchase price.

Here is an example of how this is calculated.
Purchase price: $350,000
Rebate on settlement: $10,000
Rental agreement percentage @ 7% = $23,800 per year, $457.69 per week
Likely market rent = $430 per week
Rental agreement gap payment: $27.69 per week


Be sure to check the specific terms in your agreement provided at time of exchange of contracts.

2. Where do I find the specific details of my rental guarantee with Geocon?

Your contract will outline all the specifics of your rental guarantee. Log in to your Geocon customer portal if you haven’t saved off a copy. If you need any further clarification, contact your solicitor.

3. When does the rental guarantee start?

Geocon will start paying the rental agreement payment (the gap between rental income and guarantee or cover the entire payment if not yet leased) 4 weeks – 4 months after your settlement date* depending on the specific terms of your agreement. This means until the rental guarantee payments begin, the mortgage repayments are your responsibility. To confirm the specific terms of your agreement, check your documentation, or ask your solicitor.

*provided you have had your window treatments installed

4. Who pays for the rental guarantee?

Geocon pays the rental guarantee. This is how it works: Geocon is liable to pay the gap between the rental income and guarantee or cover the entire payment if not yet leased. The payments are made in arrears, which means they are calculated at the end of the month or quarter depending on your contract. Payments are made from Geocon to The Property Collective. Then The Property Collective makes the payment into your nominated bank account on the last business day of the month.

5. What happens at the pre-settlement inspection?

The pre-settlement viewing is your official opportunity to identify maintenance items. Following the inspection, issues are noted as complete when a Builder’s Certificate of Completion is issued in your Geocon customer portal.

6. Can The Property Collective do the pre-settlement inspection on my behalf?  

Yes, no problem we can do this for you. Pre-settlement inspections performed on your behalf are charged at $290 inc. GST, this is a one-off cost. You will need to sign a disclaimer which states that you understand that although we will take care to perform the inspection, we accept no liability for acts or omissions in overlooking items. If you would like us to take care of this for you, please email your property manager.

7. When will my pre-settlement maintenance items be rectified?

Geocon aims to rectify all pre-settlement viewing items before your settlement. Any outstanding items will be addressed as soon as possible after settlement.

8. What is a 90-day maintenance period?

In your Geocon settlement pack, you would have received an overview of the 90-day Maintenance period. In case you haven't had a chance to check this out yet, click here to see the page.

9. Can The Property Collective manage the 90-day maintenance period process?

Yes, no problem we can do this for you. 90-day maintenance inspections performed on your behalf are charged at $290 inc. GST. You will need to sign a disclaimer which states that you understand that although we will take care to perform the inspection, we accept no liability for acts or omissions in overlooking items. If you would like us to take care of this for you, please email your property manager.

10. Which maintenance items do I need to pay for?

Maintenance issues noted in the pre-settlement inspection and 90-day maintenance period, are Geocon's responsibility to rectify. Anything that falls outside of these areas is your responsibility and you will need to cover these costs. The exception to this is when a fitting or fixture has a warranty, assuming the issue falls in the warranty period and meets the warranty criteria. You can find the warranties in your settlement pack.

11. Do I need to install curtains or blinds in my apartment or is that the tenant’s responsibility?

It is a requirement of the terms of your rental guarantee to have blinds installed prior to a tenant moving in. Here is an extract of this statement as part of your responsibilities in the Property Management Agreement:

You are responsible for the costs of installing blinds at the property before any tenant(s) moving into the property.

You will need to have blinds installed prior to when the Rental Guarantee starts, which is 4 weeks after your settlement date. Look out for Geocon communications about this to ensure you get them installed in time and you uphold the terms of your rental guarantee.

12. How will you find a tenant for my property?

Our goal is to minimise vacancy, maximise your return, and secure quality tenants for you. To do this we take a comprehensive and holistic approach to tenanting new developments with a 10-step strategy. Check out how we do this here.

13. Who is my strata manager?

You will need to refer to your settlement pack and or communications you received from Geocon for your strata contact. Currently the strata representatives are as follows:

Republic, Dusk and High Society - Vantage Strata
Grand Central Towers - Civium
Metropol - Vantage Strata
Midnight - Raine & Horne
Wayfarer - Independent Strata

14. How much are my strata fees?

You will need to contact your strata manager to get this information.

15. What is a tax depreciation schedule, and do I need one?

Tax depreciation is a tax deduction claimed for the natural wear and tear of an income-producing building and its assets over time. It is generally the second biggest tax deduction for property investors, after interest. Claiming tax depreciation reduces your taxable income, meaning you pay less tax. You might be eligible for thousands of dollars in depreciation deductions each year. You don’t need to do this now, but we recommend you do it before the end of the financial year so you can claim the tax deductions.

16. Do I need landlord’s insurance? How do I get it?

Yes, you need landlord's insurance if you want protection against possible financial loss related to owning an investment property. The good news is because it is an investment expense, your policy premium is tax-deductible.

We recommend Terri Sheer, Australia's leading landlord insurance provider. The standard annual landlord insurance in the ACT is $359.00 (rent up to $1000pw). You can find everything you need to sign up here: https://www.terrischeer.com.au/landlord-insurance/

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Disclaimer: We are not financial advisors, and this is not financial advice. It is your responsibility to seek your own financial advice.