Date: 23 rd March For: To Whom It May Concern. Property: 2C Larch Hill Place Queenstown. Regarding: Holiday home rental appraisal

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1 Date: 23 rd March 2017 For: Property: To Whom It May Concern 2C Larch Hill Place Queenstown Regarding: Holiday home rental appraisal

2 Thank you for providing Relax away with the opportunity to appraise the holiday rental potential of your asset. I have discussed the home with our property management team to provide you with our feedback on the nightly rental potential of the property. Over the next few pages we ll provide you with some information on our services along with the details of the nightly rates we propose to take your property to the market with. This assessment of income is based on years of experience in the Queenstown holiday letting sphere and is indicative of where your property is positioned in comparison to the competition in today s market. Enjoy income as well as great memories! A holiday home is an investment in your lifestyle and one which can bring you years of pleasure as well as great investment returns. Relax away holiday homes is a premier service. We offer property owners both a property management service and property marketing and booking service targeted to the mid to high demographic consumer, and provide holidaymakers looking for short term accommodation with a superior level of service.

3 Services Relax away will look after every aspect of managing your property and ensuring it s kept exactly as you like it. Our services include: - initial inspection with documentation and photographic record of your home and chattels - Extensive online marketing - Full financial reporting - Monthly payment schedule - Regular rental reviews - Organisation of any maintenance necessary - Regular inspections - Professional cleaning after every guest departs - On-call property managers - Care of your guests - The little extras to make a guest s stay more comfortable - Flexibility between short and long term property management if needed

4 Visitor accommodation consent Before letting your property on a short term basis you need to meet the council regulatory requirements. That means registering your property for short term accommodation. It may already be registered (we can check this for you or you are welcome to do it yourself). Registration is different depending on if you are intending to let for more than 90 days and if your property is stand-alone, duplex or part of a larger complex. Stand-alone/duplex renting for less than 90 days: You can apply to be a registered holiday home which will give you the ability to let up to 90 days with a minimum stay of three nights. Stand-alone/duplex renting for more than 90 days: Resource consent is required, which will allow you to rent for up to 365 days a year with no minimum period. Part of larger complex: Resource consent is required, which will allow you to rent for up to 365 days a year with no minimum period.

5 Appraisal details We are delighted to be able to provide you with these details and look forward to more discussion with you regarding our management and marketing services. Two bedroom unit split over two levels with one off-street Property description park Double glazed Spectacular views of Lake Wakatipu and the surrounding mountains Convenient location between central Queenstown and Frankton Small balconies leading from each of the bedrooms *We would recommend a refresh of some of the items of furniture We believe that a nightly rental of $250 (low season) to $300 (high Rental returns season) and $330 (Christmas/New Year) could be achieved in the current holiday letting market. The estimated rental value provided above is our opinion only and is relevant as at the date of this letter and to market conditions and circumstances prevailing at this time. Relax away accept no responsibility for any person who relies on this appraisal for financial purposes.

6 Why list with Relax away? Simply put, we re a boutique service with exceptionally wide reach. We understand the optimum marketing channels to target the markets we identify for our owners properties and we provide superior communication to both owners and guests. Our customer feedback is second to none and we d love to work with you to maximise the returns on your investment along with making sure you are able to enjoy your property. Should you have any queries or require further information in relation to our holiday home services, please do not hesitate to contact our office. Kind regards, Jenny Parkes Manager/Property manager jenny@relaxaway.co.nz

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