Hi all, I’m looking for some advise on DHA property investment. Is it possible to get out off the lease earlier ? What does 3+ years option really mean? Does that mean at the end of lease I have option to renew or end the lease? Or that will be under their discretion? Anybody has any experience with DHA ?
I've had a DHA property in the past. It is very difficult to get out of a lease earlier. I had a friend who let out his house to DHA when he left the area and wanted to live in the house some years later when he returned. He wasn't able to do so. Generally, it is totally up to DHA as to whether they take up the three-year option. If they do take up the option, there will be no extensions after that. There's been a lot written about DHA in this forum in the past. It's worth going through some of those posts.
I have two, 8 and 10km from Brisbane. Done exceptionally well in the last 11 years from them, but you have to be a very long term investor, don't buy new, buy in an excellent location, the PM fees are high, but I have had nearly everything replaced in both properties, they present like brand new and overall been happy with them. The option to extend is always with DHA, not usually possible to get out of earlier- think of it as a commercial lease.
