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SRO Approval Application

Victorian Homebuyer Fund — State Revenue Office

SRO APPROVAL APPLICATION - SHARED EQUITY SCHEME

69 Carr Street, Geelong VIC 3220

TO: State Revenue Office (Victorian Homebuyer Fund Administrator)
FROM: [Your Name]
DATE: [Today's Date]
RE: Approval Request for Short-Term Furnished Rental

1. PROPERTY DETAILS

Property Address: 69 Carr Street, Geelong VIC 3220

Property Type: 2-Bedroom, 1-Bathroom House

Land Area: Approximately 386m²

Building Area: Approximately 130m² (main house only)

Scheme Reference: [Your Victorian Homebuyer Fund Reference Number - from original loan documents]

2. RENTAL PROPOSAL

Rental Type: Furnished residential lease - short-term

Lease Duration: 6 months fixed-term

Proposed Rental Rate: $632 per week ($2,740 per month)

Proposed Start Date: [DD/MM/YYYY]

Proposed End Date: [DD/MM/YYYY]

Tenant Status: [Name and contact details - TBD when tenant secured]

3. FURNISHED PROPERTY DECLARATION

The property will be provided furnished with the following included:

Furniture Condition: [Good/Excellent - to be confirmed]

Furniture Schedule: Complete itemized inventory with condition photos attached (Schedule B)

4. PARTIAL PROPERTY ACCESS & DEMARCATION

KEY POINT: This is NOT a full-property rental. The Tenant has access to the main house only.

Tenant-Included Areas:
- Main house: 2 bedrooms, lounge, dining, kitchen, bathroom, laundry, entry
- Front garden and driveway approach
- Approximate area: 130m² internal + front garden

Landlord-Retained Areas:
- Garage (7.2m x 2.8m) - LEFT SIDE
- Rear property beyond demarcation line
- Rear lane access
- Storage/utility areas

Demarcation Method:
- Physical boundary line clearly marked on property (fence/gate/painted line)
- Floor plan with highlighted demarcation provided to Tenant
- Photographic evidence documented
- Lease Schedule A contains full demarcation terms and restrictions

Why This Structure:
- Allows me to retain rear property for potential future use or expansion
- Reduces Tenant maintenance obligations (no rear garden or garage responsibility)
- Creates clear separation of assets and access
- Justifies furnished premium and all-inclusive utilities pricing

5. UTILITIES & OUTGOINGS

Utilities Included in Rent (Landlord-Paid):
- ✓ Electricity (avg. $XXX/quarter - based on actual billing history)
- ✓ Gas (avg. $XXX/quarter - based on actual billing history)
- ✓ Water (avg. $272/quarter - based on actual billing history: $3,268/year)
- ✓ Internet (NBCO or similar - estimated $XX/month)

Total Estimated Utility Cost to Landlord: ~$4,200-4,500 per year

Tenant Obligations: None - all utilities included in weekly rent of $632

Landlord Obligations: Maintain all utility accounts and ensure continuous service

6. PRICING JUSTIFICATION

Market Research (Unfurnished Long-Term):
- Domain.com.au: $480/week ($2,087/month)
- Realestate.com.au: $455/week ($1,979/month)
- Average market rate: $467.50/week (~$2,033/month)

Pricing Adjustments for Your Furnished Rental:
- Base market rate: $467.50/week
- Furnished premium (+18%): +$84/week
- All utilities included (+$50/week estimated): +$50/week
- 6-month lease adjustment (+10%): +$47/week
- Partial property access (-7%): -$33/week
- Total: $632/week ($2,740/month)

Rationale:
- Furnished rentals command premium in Geelong market
- All-inclusive utilities (water, electricity, gas, internet) is significant value-add
- Short 6-month lease justifies slightly higher weekly rate (less turnover cost savings)
- Partial property demarcation reduces Tenant's maintenance burden (lowers risk profile)

7. SCHEME COMPLIANCE STATEMENT

I confirm that:

  1. ☑ This property was purchased under the Victorian Victorian Homebuyer Fund
  2. ☑ I understand the Scheme has restrictions on rental without approval
  3. ☑ This is a temporary short-term rental (6 months), not conversion to investment property
  4. ☑ I intend to retain the property for personal use or future use after this lease expires
  5. ☑ I have not breached any Scheme conditions to date
  6. ☑ I am seeking written approval before signing any rental agreement
  7. ☑ I understand breach of Scheme conditions could result in clawback or forced sale
  8. ☑ All information provided is accurate and complete

8. DOCUMENTATION PROVIDED

Attached to this application:

  1. Schedule A: Property Demarcation with floor plan and boundary photos
  2. Schedule B: Furniture Inventory with condition descriptions
  3. Schedule D: Utilities Schedule with water bill history (12 months)
  4. Proposed Residential Tenancy Agreement: Victorian RTA template with custom schedules
  5. Move-In Inspection Checklist: Detailed condition documentation
  6. Identity Verification: [Driver's license/ID copy - TBD]
  7. Proof of Ownership: [Title/loan documents - TBD]
  8. Scheme Reference: [Original Scheme approval letter - TBD]

9. TENANT SCREENING STANDARDS

Proposed Tenant Screening:

Protective Measures:
- Move-in and move-out inspections with detailed photos
- Monthly rent payment via bank transfer (traceable)
- Regular property inspections (maximum 4 per year as per Victorian law)
- Professional communication via email with read receipts

10. LANDLORD EXPERIENCE & RISK MITIGATION

Relevant Experience:
- Current Airbnb/short-stay host at this property (proven property management)
- Understanding of property maintenance and tenant relations
- Experience with furnished properties and guest management
- Familiarity with local area and tenant market (Geelong)

Risk Mitigation:
- Professional rental agreement with clear demarcation terms
- Bond held with RTA (not retained personally)
- Property inspections at agreed intervals
- Comprehensive insurance coverage (landlord policy)
- Clear dispute resolution process via Victorian VCAT if needed
- Strict tenant screening to minimize risk

11. REASONS FOR RENTAL REQUEST

Why I'm Renting:

[CHOOSE ONE OR ADAPT TO YOUR SITUATION:]

Option A: "I am temporarily relocating for work/family reasons. I wish to retain ownership of my home but generate income from the property during this period. After 6 months, I plan to return to the property for personal use."

Option B: "I am building equity while the property appreciates. This short-term rental generates income to offset my mortgage and maintain the property. It is not a permanent investment conversion."

Option C: "I have temporarily relocated and wish to cover ongoing costs (mortgage, utilities, maintenance) while I maintain ownership and future occupation plans."

I confirm this is a temporary rental arrangement, not a permanent conversion to investment property.

12. DECLARATION & SIGNATURE

I declare that:

  1. I am the registered owner of 69 Carr Street, Geelong VIC 3220
  2. The property is owned under the Victorian Victorian Homebuyer Fund [Scheme Name]
  3. All information provided in this application is true and accurate
  4. I understand the Scheme's conditions regarding rental
  5. I will comply with all Victorian Residential Tenancies Act requirements
  6. I will maintain the property in good condition and habitability
  7. I will lodge any bond with the RTA within 10 business days
  8. I understand breach of this approval could result in clawback or forced sale

Signature: ___ Date: ___

Print Name: ______

Contact Phone: ______

Email: ______

13. NEXT STEPS AFTER APPROVAL

Once SRO provides written approval, I will:

  1. ✓ Sign Victorian RTA residential tenancy agreement with approved Tenant
  2. ✓ Provide copy to Tenant and SRO within 10 days
  3. ✓ Lodge bond with RTA within 10 business days (prescribed form)
  4. ✓ Prepare Statement of Circumstances with Tenant
  5. ✓ Conduct move-in inspection with photos
  6. ✓ Maintain property to required standard
  7. ✓ Provide copies of all documents to SRO upon request
  8. ✓ Notify SRO of lease termination and property return to personal use

14. CONTACT DETAILS

Please direct correspondence to:

Name: [Your Name]

Address: 69 Carr Street, Geelong VIC 3220

Phone: [Your Phone]

Email: [Your Email]

APPLICATION SUBMISSION:

[ ] Print and post to: State Revenue Office, GPO Box 1641, Melbourne VIC 3001
[ ] Email to: [SRO email address - confirm current address]
[ ] Phone: 13 21 61

Expected Response Time: 10-15 business days

Approval Status: [To be updated once response received]

DOCUMENT CONTROL:

Prepared: [Today's Date]
Version: 1.0
Property: 69 Carr Street, Geelong VIC 3220
Scheme: Victorian Victorian Homebuyer Fund