NZ Property Investor February 2021

These are major changes, and some of them have caused considerable concern amongst the property investment industry. Key changes include: • Security of rental tenure: Landlords will not be able to end a periodic tenancy without cause by providing 90 days’ notice. New termination grounds will be available to landlords under a periodic tenancy and the required notice periods will change. • Changes for fixed-term tenancies: All fixed-term tenancy agreements will convert to periodic tenancies at the end of the fixed term unless the parties agree otherwise, the tenant gives a 28-day notice, or the landlord gives notice in accordance with the termination grounds for periodic tenancies. • Making minor changes: Tenants can ask to make changes to the property and landlords must not decline if the change is minor.…

While there is no doubt the market is booming, these figures come as a surprise to NZPIF executive officer Sharon Cullwick. “This is an astonishing figure, but there could be a number of reasons for it. Many expats are returning from very well-paid jobs and investing their money in property. There is also the issue of bank swapping, people changing banks to get the best rates and terms for their investments.” Kris Pedersen financial strategist at Kris Pedersen Mortgages (who specialise in property investing) says there was a lot of activity at the end of 2020. “It was definitely manic towards the end of the year and things have kicked off busy,” he says. He believes that the LVR change will have some effect on investor activity, but that it…

Tenants Te Aorere Wanoa and Taylar Morris rented a property from Cheryl Scott in August 2020 for a fixed term of 18 months. While the tenancy was initially incident free, a property inspection in October last year changed the tone of the relationship. During the inspection, Scott found a note detailing some issues with the property. She took offence to the note, and from this point on the relationship deteriorated. Scott issued a 14-day notice to the tenants a few days later, containing what have been deemed “inappropriate demands” including a breach notice for failing to check smoke alarm batteries, failing to ventilate, failing to remove a baby gate at the entrance of a bedroom, and denying responsibility for rubbish that had been there at the start of the tenancy.…

Your monthly round up of property investment related events around the country. PROPERTY INVESTOR WEBINAR ONLINE EVENTS ONLY South Island, February 3; Wellington and Auckland February 10; South Island, February 16; Wellington and Auckland, February 24. Property investor live events: Tauranga, February 3; Hamilton, February 17. Bookings via https://positiverealestate.co.nz/property-investment-seminar/ PROPERTY INVESTMENT SEMINAR. ONLINE EVENTS. Wednesday, February 3, 6:30-8:30pm; Wednesday, February 10, 6.30pm-8.30pm; Thursday, February 25, 6:30-8:30pm. Live event at Greenlane office on Saturday, February 20 1-3pm. Book at https://www.propertyapprentice.co.nz/free-property-investment-seminars/ RONOVATIONZ “ON THE ROAD”. OTR Saturday, February 6, 13, 20 9:30am-3:30pm. Join Ron and the team behind the scenes as they spend the day looking at properties. Learn hands-on where the best suburbs are, how to add value and much, much more. Spaces are limited and by invitation only – interested?…

Nelson property investor Scott Dodd has found a new way to secure good, reliable, longterm tenants. He’s making use of a new Ministry of Social Development (MSD) housing broker service that connects property owners with suitable tenants. “I gave the broker a chance to find me good, long-term tenants,” says Scott. “To my surprise, I have taken on several new tenants now from the broker and all of them so far I have been offered have been good people just trying to find a home and make a new start.” Housing brokers were introduced in mid-2020 as part of the Government’s Aotearoa New Zealand Homelessness Action Plan, as a way of connecting with local landlords and helping more MSD clients secure private rental homes. The package also includes funding to…

The new year brought with it the end-of-year data for 2020, and what a picture it paints. Record lows, record highs, and the continuation of a post-Covid housing boom that shows no of sign abating. But while there’s a general consensus that 2021 will continue to see strong growth, for property investors lack of stock, the changed regulatory environment, and restrictions on lending may act as handbrakes. Summer is traditionally a great time for the market, but as the tide of housing stock ebbed over Christmas and early January, many were left waiting for it to come back in. Data revealed stock at record lows and prices rising dramatically, with records broken up and down the country. There is much interest in the year ahead and it’s a fascinating time…