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Boom time in student rental market
Landlords who are active in the student rental market are reaping the benefits as the academic year kicks off, according to Trade Me Property. Extreme demand for rental properties continued in February and was pushing prices up in many markets – particularly those in student towns. (Source: Landlords.co.nz)
Warning: don’t overlook consents for property work
Undertaking major work on properties without consents in place has come back to bite two Auckland property owners after Auckland Council took them to court for it. Auckland Council’s Regulatory Committee manager, Steve Pearce, says the council is concerned that given Auckland’s ongoing rental crisis, some property owners are being tempted to convert existing buildings to rental dwellings. Statutory consents are generally required for such conversions or additional dwellings. (Source: Landlords.co.nz)
Six factors Kiwi landlords fear the most: new survey
Capital gains tax on rental property, falling house prices and Government demands to improve their places are kiwi landlords' top fears, according to a new survey out this week. Mortgage lending restrictions, lower net migration along with slowing population growth and interest rates were the next most-feared factors. Respondents were also asked which factors they expected to have an impact on residential property investment activity over the next five years. (Source: NZ Herald)
Investors hold properties for longer
Public perception has it that investors spend their time flipping properties on a regular basis but new analysis shows they hold properties for longer than other buyers. CoreLogic has analysed property “hold periods”, the years between the purchase and resale of a property, to see if property owners are simply staying put these days. The analysis shows that both first home buyers and movers (owner-occupiers who are relocating) have shorter hold periods than multiple property owners (or investors). It also overturns the widely held popular belief that investors spend their time buying and selling properties at a high rate to speculate on the capital gains. (Source: Landlords.co.nz)
illion Tenancy Passport Verifications
If the tenant supplies a passport as their form of ID illion Tenancy requires the Passport number and Expiry date in order to verify it. If it is a New Zealand or Australian passport then a verification option will show in the check fields. Good practise.. Always ask if you can photograph a persons ID. Make sure you reference from that information when inputting the tenant check page.
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