Enquirers form Bric Housing

Has anyone had any dealings with Bric housing? http://www.bric.org.au/
They have made an application to lease a property for immigrant accommodation in Toowoomba it is a 5 bedroom home with 2 bathrooms and is apparently going to be for short term accommodation. Their proposal is for 3 years they will pay rent even during change over of tenants.

A concern I have is they don’t pay a bond but undertake to do all maintenance.

See quote

“The application would see bric housing renting the property under a head lease arrangement paying rent at $330 per week.
This would be paid in advance by direct deposit on a weekly/fortnightly/monthly basis for the duration of the lease.

The head lease provides the agent or owner with many benefits including guaranteed rent for the duration of the head lease, assistance for the tenants in providing property upkeep and an assurance that the property will be returned in the same condition that it was provided under the Housing Qld Guarantee (Section 105-106, Property Law Act 1974).

This requires bric housing to ensure that any deterioration other than fair wear and tear is repaired and the property is returned to the agent in the same condition it was at the outset of the head lease. Unlike a general tenancy agreement’s bond, this is not limited to a particular dollar value.

Should bric be successful in applying for this property, a head lease could be prepared and funds deposited to your account as early as Monday.
I have included some letters of reference and some information about bric housing including a blank head lease document for your perusal.

Thank you”

This appears a way to maximize the rent and minimize the maintenance costs on a property that is negativity geared and in a market that is depressed.
Any thoughts on this?

Cheers Peter