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Phil Twyford introduces bill to ban letting fees Housing Minister Phil Twyford has tabled a bill that would ban landlords from charging the letting fees to tenants. He was previously considering doing this as part of a wider overhaul of the renting system, but has decided to do it as a stand-alone bill instead. Landlords can currently charge new tenants for letting the property to them, nominally to cover fees they have paid letting agents. There is no maximum. "Letting fees are an unjustifiable tax on renters" Twyford said, describing them as a method of "gouging renters".
Property Management Industry Under The Spotlight Never before has the Property Management industry come under such scrutiny. We have seen the industry attacked from all angles, whether it be Tenant groups, Consumer groups or the media in general. Unfortunately, some of the negative commentaries have been justified, highlighting issues around professionalism and integrity.
Legion of young renters planning to become landlords Nearly half of aspiring first home buyers believe their best chance of getting on the property ladder is to become a "renter-landlord". These are people who buy a property in a suburb, town or city where homes are still affordable, and then carry on renting near to their work in a town, city, or suburb that's outside their budget. A survey by BNZ found 44 per cent of aspiring first home buyers were ready to pay for a place they would never live in, many being Aucklanders and Wellingtonians unable to afford prices in the two cities. BNZ's Paul Carter said savvy first home buyers were becoming more creative in a bid to get on the property ladder.
Fierce demand pushes rents up across Auckland Rents across Auckland have risen at a much faster pace than house prices over the past year according to QV.co.nz figures — and competition for rentals is fierce in the city. Tenants can expect to pay between $350 and $450 for a one-bedroom flat, more than $500 for two bedrooms; $650 plus for three bedrooms and from $700 to $1000-plus for four or more bedrooms. The latest QV.co.nz E-Valuer data shows home values rose in some suburbs in the year to December 2017, and they dropped in others. However, values still remain high, meaning many Aucklanders have no choice but to pay higher and higher rents. Landlords' costs are also rising and thus it's likely rents will continue to rise during 2018.
How to be an effective landlord while living abroad
As a Kiwi expat, maintaining a foothold in the local housing market is a smart idea. For some, it’s about having a place to eventually come home to. For others, it simply makes good financial sense. Regardless of your reason for having a rental property in New Zealand, you’ll need to know what’s expected of you as a landlord and how you can best manage your property from abroad.
TINZ tip
On Application Forms some bad tenants make slight changes to their details to get past the TINZ check.
Be fastidious about getting the right details on the TINZ Tenant Check page. TINZ recommends requesting a close up photo of the tenants ID when they make their application. Input details as it is written on the ID, rather than the tenants application form. Tenants can legally say that an incorrect spelt name or non-legal name is a reason not to pay a Tribunal order, as it isn’t them. Always get their correct legal name on the tenancy agreement. (e.g. Tony Roberts is not the same as Anthony Roberts).
Property Management, Asbestos and the Healthy Homes Guarantee Bill, a Dummy's Guide
Thursday 5th April: 10am - 10:30am
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