What Rental Property is in demand?

As we come out of the peak Rental Property letting season it is an interesting time to begin to review what kind of property has been popular. Although the main statistics are not yet out, so a full review is not yet possible, it appears that the world wide trend for people to live in smaller household units is also hitting New Zealand. As more and more people choose to have smaller families or no kids and the general population gets older we are finding that large homes, especially on big sections

Using Tenant Checks To Reduce Risk

As has been featured many times recently, the potential for a property investor to lose money can be quite common if simple rules are not followed. Not checking your rent payments or management statements are only one way that you as an owner may end up with less in your bank account than you should.

One of the most damaging Rental Property Management mistakes to affect your bank account is poor tenant selection. The costs that can arise from these decisions are almost infinite, but would certainly average in the many thousands of

We are now well and truly in the silly season both with regards to Santa and Christmas parties and also renewing tenancies and re- renting properties due to become empty over the next couple of months. Make sure you are giving your property a thorough rental appraisal. Landlords need to keep increasing the rents each year even when good tenants are staying on both to cover the ever increasing costs and to keep the value up on the property. When deciding on the appropriate rents, take a fresh look at the property. Is it getting

NZ LOOKS GOOD FROM WHERE I AM SITTING

I am sitting here back in my town of birth in England (not under the best circumstances) realising how good we really have it in our own back yard in New Zealand.
Not only do we have a wonderful lifestyle where 2 1/2 hour commutes are not the norm and you can afford to go to the game at the weekend without taking out an additional mortgage, but from an investing point of view as well.
We have far more consistent markets built on fairly sound economic principles in the main (and especially down

FIXED TERM TENANCIES – NOTICE MUST BE GIVEN TO END

Prior to the 2010 Residential Tenancies Act amendments, at the end of a fixed term, the tenants were expected to move out. If they didn’t, there would be a limbo period of 90 days where either party could enforce the end of the fixed term. i.e. the landlord could demand the tenant moved without notice (or obtain a possession order) and the tenant could up and leave without notice. If neither party acted past the 90 day point, the tenancy would roll into a periodic tenancy whereby

Dunedin Property Management Companies – Friend or Foe?

As with any profession there are good and not so good Dunedin property management companies so it is essential to check them out thoroughly if you are to entrust your investment houses to rent in Dunedin, or portfolio with them. All management companies complete the paperwork, collect rent, process bonds and do the odd inspection. They will all respond to a call regarding a repair and organise the tradesmen. But is that all that landlords and tenants are looking for?

The founders,

A common question in property investing is “where is a good place to buy?” If you are buying rental property then when thinking locations, you need to know where people want to rent. A renter wants convenience and often that is why you will find a certain area has more rental properties than owner occupied. Rental properties can be found in most areas, however certain areas will rent very easily while others take longer as they are not truly renting areas.

LOCATION
The living habits of a New zealander changes during adulthood. When someone first leaves home, they

While landlords are spending more and more time and money insulating and providing heatpumps and other forms of heating, tenants seem to complain more about condensation and mould. There are usually tell tale signs when you take a look at how they live.

Condensation can only escape when in vapour form. To be in vapour form, the air must be warm. Therefore the best time to open windows is when the house has been heated. Once the house cools down, the moisture condensates and is now in liquid form. Opening the window will be of

There are some excellent property managers out there and the best ones seem to be able to put their clients first while successfully running their own business. Is your property manager working for you or themselves?

This is a quick questionnaire which will highlight how much your property manager is working for your benefit. To answer these questions, you may have to quickly check out your property management companies’ website.

1. Are there plenty of good quality photos on the websites when your property is being advertised? 20 is the maximum trademe allows so between 15 and 20

My tenant wants out of a fixed term tenancy – what now?

Being an efficient landlord, you have secured the perfect tenants who have signed up until next summer. The maintenance is all up to date and you can relax and get onto all those other jobs you had planned.

The phone rings and the tenants begin to tell you how things have changed and they want out of their tenancy. It’s now April and in general the market quietens down towards wintertime (or at least further south or in areas that do not have high demand). What

Many property related expenses are increasing to the extent that investors are questioning whether property investing, in times of minimal capital gains, is really a viable option.

Take insurance. Comparing our policies in the last 7 years with an excellent landlords policy on, for instance, a pair of semi detached, two bedroom flats, the premiums have increased from $433.13 in 2003 to $853.81 in 2010 – that’s a 97% increase! A four bedroom house had a premium of $457.82 in 2003 which has increased to $619.54 in 2010 – a 35% increase. A three bedroom house $505.24

With rental properties in prime Auckland suburbs currently in high demand, it could be easily overlooked that in most of the country, the renting season is actually drawing to a close. Most tenants move in summer and they have the best choice of properties available. Landlords achieve top rents in summer and the best choice of tenants available. While properties are renting well in January and February, landlords should not get complacent. The tide turns very quickly and by the beginning of March, it can be difficult to rent any remaining properties on your books.

Keep

Residential Tenancies Act, Boarding Houses, Rent By The Room and studio rooms

During the last few years while the review of the Residential Tenancies Act has been taking place, the focus has not been on how the changes will affect landlords with boarding houses, studio and rent by the room tenancies. However now the dust has settled there are many landlords affected by these changes and many changes landlords need to implement.

BOARDING HOUSES S.66B:
The Residential Tenancies Amendment Act 2010 includes Boarding houses. They have their own Part – 2A consisting of 15 pages plus contents plus unlawful acts.

WHAT WILL THIS RENT FOR?

Gone are the days that owner occupied properties are at one end of the quality scale and rental properties are at the other. A standard property today would include a heat-pump or wood burner, good proportions, off street parking and a reasonable kitchen and bathroom.

Every additional feature in a rental property has a value to tenants and lacking one of the above reduces the value. Rents will increase with features such as:

Garage – still worth about $20 per week for a stand alone garage, increase that for internal access or double garage. A