Reliable Rent Return Offer –
Comprehensive Terms and Conditions
Important Notice: These terms and conditions establish the basis for the “Reliable Rent Return Offer” (hereinafter “the Offer”) provided by Buyfair Property Group (hereinafter “Buyfair”) to eligible clients. They delineate the mutual understanding, responsibilities, and limitations associated with this optional service. By accepting the Offer, the client expressly acknowledges and agrees to be bound by these terms. It is imperative that all clients read this document thoroughly.
1. Nature and Scope of the Offer
The Reliable Rent Return Offer is an additional, optional service extended by Buyfair to clients who acquire specific MLX house and land packages. This Offer is designed to provide a degree of rental income consistency for a specified duration, exclusively under the parameters detailed herein. It is fundamental to understand that this Offer does not constitute, and should not be construed as, a guarantee of property value, capital appreciation, a financial product, or an investment instrument. It is a service aimed at supporting the rental aspect of your property acquisition.
2. Independent Professional Advice – Essential Requirement
2.1 Buyfair Property Group, including its directors, employees, agents, and representatives, are not authorised financial advisors, investment advisors, legal professionals, or taxation consultants. Consequently, no information or communication provided by Buyfair should be interpreted or relied upon as financial, investment, legal, or taxation advice.
2.2 Any statements, projections, or information pertaining to potential rental incomes, market appraisals, or future property performance, whether expressed verbally, in writing, or otherwise, are furnished solely for illustrative and general informational purposes. These are based on market conditions and assessments prevalent at the time of their preparation and do not represent a prediction, assurance, or recommendation regarding the future rental performance or financial outcomes of any property.
2.3 Clients are recommended to seek and rely exclusively upon independent professional advice from suitably qualified financial advisors, legal counsel, and/or taxation specialists prior to making any decision to purchase a property, enter into this Offer, or undertake any related investment.
2.4 The client explicitly confirms that their decision to acquire an MLX house and land package and to participate in the Offer is the result of their independent due diligence and professional advice, and they have not relied upon any statement or conduct by Buyfair as a substitute for such advice.
3. Eligibility and Formal Acceptance
3.1 The Offer is made available solely to clients who complete the purchase of an identified MLX house and land package from Buyfair.
3.2 Participation in the Offer requires the client’s explicit election and the execution of a separate, formal agreement that unequivocally confirms their full comprehension and acceptance of these terms and conditions.
3.3 Buyfair reserves the absolute right to modify, suspend, or withdraw the Offer at any time prior to its formal acceptance by a client, without prior notification or liability.
4. Reliable Rent Return Mechanism
4.1 Assured Weekly Income Arrangement: Buyfair undertakes to provide a gross weekly rental income payment of $[Insert Assured Weekly Rent Amount, e.g., $900] (hereinafter “Assured Rent Payment”) for a defined two (2) year period (hereinafter “Assurance Period”). This period commences immediately following a specified initial vacancy period as outlined below, after the date of practical completion and handover of the property to the client.
4.2 Initial Vacancy Provision: A preliminary period of four (4) weeks of vacancy is factored in and permitted immediately following the property’s handover date. The Assured Rent Payment mechanism will not apply during this initial four-week period. The two-year Assurance Period will formally commence immediately subsequent to the conclusion of this initial four-week vacancy period.
4.3 Appraisal vs. Assured Rent: The initial rental appraisal furnished by Buyfair (e.g., $1,200 per week) represents an estimation of the prevailing market rental value. The Assured Rent Payment (e.g., $900 per week) represents a specific, pre-agreed income level offered as part of this program, acknowledging variations in market conditions.
4.4 Rental Income Application (Above Assured Rent): Should the actual gross weekly rent achieved for the property during the Assurance Period exceed the Assured Rent Payment (for example, if the actual rent obtained is $1,000 per week, and the Assured Rent Payment is $900 per week), Buyfair will retain the surplus amount (in this example, $100 per week). This retained amount is designated to contribute to a pool of funds managed by Buyfair, intended to mitigate the financial impact of potential future vacancies or underperformance across its portfolio of properties participating in the Reliable Rent Return Offer.
4.5 Rental Income Supplement (Below Assured Rent): Conversely, if the actual gross weekly rent achieved for the property during the Assurance Period falls below the Assured Rent Payment (for example, if the actual rent obtained is $800 per week, and the Assured Rent Payment is $900 per week), Buyfair will supplement the difference (in this example, $100 per week). This supplement ensures the client receives a minimum total income equivalent to the Assured Rent Payment for the relevant period within the two-year Assurance Period.
5. Client Responsibilities
5.1 The client is required to engage a property manager from a list of approved or nominated property managers by Buyfair for the entire duration of the Assurance Period. This stipulation is in place to ensure consistent property management standards and to facilitate the efficient administration of the Offer.
5.2 The client remains solely responsible for, and must promptly pay, all ongoing property management fees as quoted by the approved property managers selected for the Reliable Rent Return (RRR) Offer. These fees are distinct from the Assured Rent Payment and constitute a standard, ongoing operational expense for the property owner.
5.3 To optimise the property’s rental appeal and attract desirable tenants, it may be recommended by the appointed property manager that the client cover the costs of ongoing utilities (e.g., electricity, gas, water usage charges) and internet services for the property throughout the Assurance Period. This decision rests entirely with the client’s discretion, following consultation with their property manager and consideration of potential tax implications.
5.4 The client must ensure the property is maintained in a habitable and tenantable condition, and that all necessary repairs and maintenance are addressed promptly, in accordance with their obligations as a landlord. Any failure to meet these maintenance standards may adversely affect the property’s rental viability and could result in the suspension or termination of this Offer.
5.5 The client must fully cooperate with Buyfair and the appointed property manager in all matters pertaining to the tenancy, including but not limited to, property viewings, lease negotiations, and maintenance requests.
6. Exclusions and Limitations
6.1 The Offer does not extend to, nor cover, periods of vacancy or reduced rental income resulting from:
- Damage to the property attributable to the client, their invitees, or events deemed “acts of God” (e.g., natural disasters) that are not covered by standard landlord insurance policies.
- Significant repairs or renovations initiated by the client that render the property temporarily uninhabitable.
- Tenant breaches of the tenancy agreement leading to eviction proceedings, unless such breaches are directly attributable to a failure of property management within Buyfair’s control.
- Any action or inaction by the client that impedes the property from being leased at prevailing market rates.
6.2 The Offer specifically excludes responsibility for any outgoings, expenses, or costs associated with the property, including, but not limited to:
- Property management fees (as expressly stipulated in Clause 5.2).
- Council rates, water rates, strata levies (where applicable).
- Landlord insurance premiums.
- Costs for general maintenance and repairs.
- Unless otherwise explicitly agreed by the client following advice from the property manager to enhance rental outcomes, all utility and internet costs.
- Any other financial obligations typically borne by a property owner.
6.3 Buyfair’s commitment under this Offer is strictly confined to the rental income supplement mechanism detailed in Clause 4.5. Buyfair shall bear no liability for any other direct, indirect, consequential, or incidental losses, damages, or expenses incurred by the client in relation to the property or the Offer.
7. Good Faith and Acknowledgment of Commercial Arrangement
7.1 This Offer is presented by Buyfair in absolute good faith, intending to provide an additional layer of support and confidence to clients regarding their rental income.
7.2 The client expressly acknowledges and agrees that this Offer constitutes a commercial arrangement predicated on mutual understanding and cooperation, and is not a representation or warranty of a specific investment return.
7.3 The client irrevocably agrees that they shall not commence, pursue, or instigate any legal action, claim, or proceeding against Buyfair on grounds related to:
Any contention of misleading or deceptive conduct concerning rental appraisals, income projections, or property performance forecasts.
- Allegations that Buyfair has provided financial advice.
- Any dissatisfaction with the actual rental income achieved, provided Buyfair has fulfilled its obligations under Clause 4.5.
- Any alleged failure of the property to achieve specific investment returns or financial performance expectations.
7.4 This clause is drafted to the fullest extent permissible by law and does not seek to abrogate or limit any non-excludable statutory rights or remedies available to the client under Australian consumer law.
8. Cessation of the Offer
8.1 The Offer will automatically conclude upon the expiration of the two (2) year Assurance Period.
8.2 Buyfair reserves the right to terminate the Offer immediately if the client is found to be in material breach of any of their obligations as set forth in these terms and conditions, particularly those detailed in Clause 5.
8.3 In the event of the sale or transfer of the property by the client during the Assurance Period, the Offer will automatically cease on the date of legal settlement of that transaction.
9. General Legal Provisions
9.1 Entire Agreement: These terms and conditions, when read in conjunction with any specific written agreement formally executed by both Buyfair and the client pertaining to the Offer, constitute the complete and exclusive agreement between the parties concerning the Reliable Rent Return Offer.
9.2 Governing Law: This agreement shall be interpreted, construed, and enforced in accordance with the laws of Victoria, Australia. The parties irrevocably submit to the non-exclusive jurisdiction of the courts exercising jurisdiction in Victoria.
9.3 Severability: Should any provision of these terms and conditions be determined to be invalid, illegal, or unenforceable by a court of competent jurisdiction, that specific provision will be severed from the agreement, and the remaining provisions shall continue in full force and effect.
9.4 Amendments: Any amendment or variation to these terms and conditions must be formally documented in writing and duly signed by authorised representatives of both Buyfair and the client.
By executing the Buyfair Property Group Reliable Rent Return Offer agreement, the client unequivocally affirms that they have fully read, comprehended, and assented to all the terms and conditions outlined herein.
Rental appraisal is an estimate based on current market conditions at the time of appraisal and is subject to change. The Assured Rent Payment is a pre-agreed amount within the Reliable Rent Return Offer and is distinct from the market appraisal. Full terms and conditions for the Buyfair Property Group Reliable Rent Return Offer apply and are available upon request. This brochure is for marketing purposes only and does not constitute an offer document, financial advice, or investment advice. Clients must read and understand the complete terms and conditions before entering into any agreement. E&OE.