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Myth Buster Series: Independent valuations protect DHA investors

Jan 13, 2026, 13:29 by Defence Housing Australia


DHA’s leasing program is constantly evolving to deliver the best results for our landlords and the Defence members living in our homes. Our Myth Buster Series aims to clarify any potential myths you may have heard about investing with DHA and provide accurate information.

 

Myth: DHA pays below market rent

Fact: DHA rents are based on independent valua
tions—a fair process that delivers real value

Australia’s housing shortage is tightening the rental market, so it is natural for landlords to focus on the promise of “top dollar” returns. But the reality is that headline rents can fluctuate as quickly as they spike, encouraging tenants to jump ship at the first available opportunity and potentially costing owners thousands in lost income and expenses.

DHA’s approach is much more dependable for investors who want guaranteed1, long-term income stability. All properties we lease undergo regular rent reviews, typically annually, to assess the rent against current market rates. This review is conducted by certified, independent valuers and is the same process used by banks and lenders. It provides surety and a fair deal for both our owners and Defence occupants.

Once the property is in DHA’s portfolio, if an investor disagrees with the valuation, they are welcome to commission their own assessment2. If the valuations differ, the valuers review each other’s findings and agree on a position and DHA accepts the agreed value.

Two men in suits, one is pointing his pen at a model house, the other is holding a calculator.

The benefits for DHA investors extend well beyond the cost of rent itself. One of the significant advantages of investing with us is the certainty that rent payments will always arrive on schedule. DHA pays rent continuously, even if the property is untenanted1. Coupled with our long-term leases of up to 12 years or more3, this creates a strong foundation you can depend on to underpin the success of your portfolio.

Landlords may secure higher short-term returns due to surging rents in periods of high demand, but they carry the risk of longer vacancies, tenant arrears, or abrupt rent drops when conditions ease. Our model trades volatile highs for stable, predictable income you can bank on. Independent comparison shows that over time this consistency often delivers better results in terms of net yield and peace of mind. For more information, read the myth buster article about our service fee.

DHA manages more than 17,000 properties in capital cities and major regional centres across Australia. For investors, you may not always catch a short-term rental spike with us, but you will gain certainty, security and savings that outweigh those fluctuations. In an investment market where stability is rare, we stand out as one of the most consistent and reliable property options on offer.

Ready to invest? If you'd like to speak to our team to learn more about investing with DHA, please call 133 342 or submit an application.

1. Rent may be subject to abatement under certain circumstances such as loss of enjoyment or amenity, or breach of lease terms. Rent is paid where the property is habitable. Should a property become uninhabitable during the term of the lease, or lessor breaches the lease terms, the rent may cease or abate and the lease may be terminated by DHA. Guaranteed rent is subject to the terms of the lease. DHA does not take into account an investor's objectives or financial needs. Investors should always seek appropriate independent advice before making any investment decisions with DHA.

2. If you disagree with our rent recommendation, you may be eligible to complete a secondary market rent valuation. You must engage a valuer of your choice who is certified practicing and registered member of the Australian Property Institute in the state or territory in which your DHA leased property is located. Your valuer will be required to liaise with the DHA Valuations team and the DHA appointed market valuer as part of the review process. You must confirm that your valuer understands that the market rent valuation is to be undertaken as at 31 December of the previous year. Their valuation report should only include rents achieved for comparable properties leased before this date (i.e. not listed rentals), and should not include DHA leased properties.

3. DHA can vary the lease term at our discretion by exercising each extension right once. Investors should consider their long term plans and potential changes in circumstances when assessing a DHA long term lease.

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