Free advice for Landlords - ask our property experts a question

Do you have a property investment question you want answered? The Ask an Expert section is a free service provided for property investors in conjunction with a panel of selected property experts.

Please note that questions should be of a general nature about property investing and your question and the subsequent answer may be published in the NZ Property Investor magazine. There is a limit of ONE question per submission. We will use our discretion whether questions are published and we reserve the right to paraphrase your comments for our experts.

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Quinovic's outstanding people and systems provide the most professional, effective and reliable residential property management service in the NZ market for over 22 years.

Last answered question:

Property needs repairs!

My flatmates and I moved into a property and found the condition of the property was dirty and untidy with several items needing to be fixed, which we listed on the property condition report. After back and forth emails, nothing has been fixed. We had our flat inspection and again we listed the problems on the maintenance form. I feel the cracked landing in the back of the house severely injured my leg. We are now going to the Tenancy Tribunal for repairs and loss of wages due to the accident. Do I have a strong case for getting the repairs fixed and receiving loss wages? The property is managed by a property management company, are they liable or is the owner responsible? When we sent them emails they kept saying they would forward to the owner? We are just trying to be prepared, even for a non favorable outcome.

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Kris is a respected commentator on the property and finance markets in New Zealand and overseas. He spends his time working closely with his support team sourcing clients leading edge finance strategies.

Last answered question:

Looking to buy

We are looking to buy in Ashburton, around the $250,000 to $300,000 price range and have a 20% deposit. I am currently trying to decide which provider to get a pre-approved loan with. This is where I have become completely stuck. We are investing for long term gain, but would like to be able to use the equity to purchase future property. In this case is it better to have an interest only loan? And keep our savings for further properties. Or is it best to pay off more of the loan and then use the equity for future properties? In either case what is the best way to go with interest, fixed or floating? And what about the off-set loans? I am currently in a well paying job where this option would be good, but I only plan to stay in this job for this year. Would it then cost to change the loan to a different set up? I also am a non-tax resident currently, what effect would this have on the property? Or would buying effect my tax status?

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More Questions & Answers about Finance & Strategy »

Krister is ranked in the top 1% of all real estate agents nationwide and specialises in the high yielding Auckland apartment market. He is happy to share insights and information on any aspect from an extensive knowledge base built up over a decade.

Last answered question:

Plumbing cost liability?

Should an owner be informed of a leaking ceiling by the body corporate before the body corporate engages a plumber? The property is under rental guarantee with a management company? Does the owner and the owner of the upstairs apartment share the cost of the repair? Also, can I refuse to pay if work is done without my consent?

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Mark Withers and his team at Withers Tsang & Co specialise in advising on property related transactions, valuation and restructure services and tax planning.

Last answered question:

Gifting expenses?

I was just wondering what sort of property expenses you need to state when gifting as these will increase the amount to forgive.

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More Questions & Answers about Tax/GST/LTC »

The Ministry of Business, Innovation & Employment provides information and guidance on building law and compliance, services including weathertight homes, and advice for tenants and landlords.

Last answered question:

Stove repairs

Our tenant took us to the Tenancy Tribunal to fix the element on the stove, a roof that she claimed was leaking after it had been fixed and failed to mention it to us. As ordered by the Tribunal, the electrician took a look at the element and due to the age of the unit he said we would be better off to replace it. The original oven was a standard oven with four elements. The cottage is only 50sqm so a nice two ring half oven to reduce space and what we install has to be a plug in one as it is classified as a sleep out.The tenant refused to allow us to put in this one and the adjudicator said that we have to replace it with a similar or like one but when I spoke to the Tribunal support line I was told that as I had been only ordered to repair the elements that I could replace it with one of my choice. I am confused with it all don't know what to do. Please help?

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Ron loves to share his passion for property and his coaching course provides one-on-one mentoring and support that will empower you with tools, strategies and valuable insights so you can achieve investment success and become a property master.

Last answered question:

Using cash reserves

To diversify my investment portfolio I want an investment property. I have a mortgage free family home with a value of $450,000. I've found a house that costs $145,000 with a RV of $149,000, rates of $2,200 and an expected rental of $255 per week. It is a small three bedroom house on a large section with loads of room for development. I have some cash reserves to build a garage, put in a heat pump, etc. As I have never done this before, does the figures work to make this worthwhile? Should I use my cash reserves to lower the mortgage amount or to tidy up the property to make it more attractive for renting?

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More Questions & Answers about Property Advice »

Last answered question:

Inspections missed

I am wondering what redress I would have in the case of a property manager who has not done enough inspections for an insurance claim? I stated the insurance company in the rental authority application as asked (one that requires three monthly inspections) and in the frequency of inspections stated 'as normal'. This is a reputable company and some property managers do three monthly inspections, my property manager only did six monthly inspections regardless of the insurance company requirements. I employed a property manager for expertise - bad mistake!

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More Questions & Answers about Insurance »

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