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I think a general blanket negative opinion on DHA properties is not right.
I own two townhouse properties with DHA in the QLD suburb of Mitchelton (one of qlds boom suburbs) yes it is close to the army barracks but also 7km from brisbane CBD.
The lease has a clause where rent is valued by an independent valuer at "market value" our recent valuation took the rent from $275/week to $320/ week and with the way rental prices are being driven up at the moment, I expect another significant rent rise this comming December.
Happy to give anyone further info on DHA properties if they wish.
i know very late into this topic but in case of future readers like myself.
I have 2 DHA investments in Mitchelton Qld – right next to the Enoggera army barracks. and they are great.
– good capital growth on the town houses as they are in a strong capital growth area
– yes PM fees are 15% but most agencies are around 9-10% total fees (including rent collection etc)
– All maintanance is covered by DHA e.g. hot water service, dishwasher etc
– at the expiry of the lease if over 9 years, they repaint inside and outside and re-carpet.
– Rent – my leases and i assume all leases have a market review clause at december 31 each year. last december (07) rent on my properties went from $275 to $320 as the are valued by an independant valuer based on the local rental market.only negative i can see with them is re-sale time as only investors can purchase them, not owner occupiers.
