Apartment Owner Finance
Is it time to refurbish your management rights apartment?
The short term letting market in Australia is very competitive. new properties are constantly under construction which drives up the overall standard and consumer expectations. In addition to this, negative reviews about ‘tried and dated’ properties can have a huge impact on occupancy levels and the daily rate a property can achieve.
Regular refurbishments can ensure that a property remains relevant in a crowded market, although they do come at an expense. The cost involved can sometimes be prohibitive for some lots owners and therefore the upgrades never happen. The property becomes inferior to other sin the market, the average daily rate and occupancy levels decline, and they yield delivered to owners diminishes.
Our Funding Solutions
Accommodation Finance Australia have a funding solution specifically for apartments that are available for short term letting.
This finance product enables you, the lot owner, to upgrade your property without having to part with your hard earned capital. Instead, repayments are deducted from the letting income collected by the manager.
You don’t need to worry about managing the finance repayments. Your manager that currently collects and distributes the letting income will make the repayments to Accommodation Finance Australia on your behalf. This is done by deducting the monthly repayment amount from the letting income that it paid to you.
The finance term is four years with nothing owing at the end. Also note that the manager doesn’t receive any commission or financial benefit in any form from AFA. They are helping to facilitate the finance because they also benefit from a newly refurbished property that can achieve a higher rate and occupancy.
The Funding Process
The funding process is simple and fast. It only takes ten minutes to complete an online application and our friendly staff will manage the rest of the process for you.
Apply online with Accommodation Finance Australia. Our easy application takes 10 minutes.
The supplier/s will provide us with a tax invoice for the equipment and furniture.
We will issue you with a contract for singing.
Suppliers are paid and your equipment and furniture is delivered.
Get started on your refurbishment project today!
Why choose us to fund your apartment upgrade?
Accommodation Finance Australia offer a tailored funding solution for management rights owners with unique benefits to suit the apartment owners.
What you should have to be application ready?
Being preparedis an important part of any finance application, below is a list of items you should have on hand to be application ready.
For loans under $50,000
For loans of over $50,000
Each application is assessed on a case by case basis, requirements may vary.
Ready to Apply? Get started today!
Frequently Asked Questions
Here are answers to our most common questions, however if you have any different queries or want more information, you can always talk to one of our friendly team members.
The Application Process
Simply complete our easy Online Application Form.
In most cases, Accommodation Finance Australia can give pre-approval within 24 hours of receiving your application.
Accommodation Finance Australia can fund any assets relevant to your hotel & accommodation business. This ranges from serialised assets, non-serialised assets and custom built equipment. We can also fund full fit-outs and refurbishments.
Some examples of what we can fund include:
- Room Refurbishments
- Bedding & Soft Furnishings Upgrades
- Bathroom & Amenities Upgrades
- Restaurant & Dining Upgrades
- Technology & Software Upgrades
- Branding & Signage Requirements
- Change of Ownership & Re-Sale Requirements
The Payment Process
Accommodation Finance Australia contracts will include a Direct Debit Authority for you to complete. This allows for the electronic transfer of your repayments, from a bank account of your choice.
Equipment Related Questions
The ongoing service, maintenance and repair of the items and equipment in the contract is your responsibility. Don't forget that all new equipment comes with a manufacturers warranty for a minimum of 12 months.
If your equipment happens to break down, you should immediately contact the equipment supplier and check whether the warranty is still valid. If your equipment supplier is unable to assist, please contact our team and we can aid in referring you to a repairer.
Contract Related Questions
If your contract is an operating lease or a rental agreement, Accommodation Finance Australia will email you about one month before the end of your contract term to provide you with the options available to you.
If your contract is a chattel mortgage or business loan, then your agreement will simply terminate at the end of the contract term.
If you would like to discuss your options sooner, please call our friendly Customer Service team on 1300 287 178.
Not to worry, simply call our friendly customer service team on 1300 287 178 and they can assist you in this matter.