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.

Before you send in a question, please read the Ask an Expert archive thoroughly. There is a chance that your question may have been previously answered and it will be listed there.

To ask a question, you will need to be a registered member (it's free).

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Property Management
Ask Bernard Parker from Quinovic Property Management questions relating to property panagement

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:

Maintenance during notice period

The tenant gave three weeks notice and vacated after a week. The landlord entered the premises to paint and perform other maintenance. Is the tenant still liable for rent for the remaining two weeks of his notice period?

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Finance & Strategy
Ask Kris Pederson, director of Kris Pederson Mortgages questions relating to Mortgages, Finance, and Strategy

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:

Friendly loan help

We are about to take out our first mortgage to build a new house. Upon build completion we should make $150,000 equity, which we want to use for a do-up buy/sell. We plan to use revolving credit for that. As we might be limited in our repayment capacity for two mortgages we want to know if it technically possible to team up with our friend who will "buy" the property - but we'll use our revolving credit to pay the mortgage repayments?

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Apartments
Ask Krister Samuel of Ray White City - Britomart questions relating to apartments investing

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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Tax/GST/LTC
Ask Mark Withers, director of Withers Tsang & Co questions relating to Tax and Asset Structures

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:

Sub-let GST confusion

Please advise: I am a commercial lease-holder who owns and operates my business in the building. A portion is subleased to a residential renter for an all-inclusive weekly rate (includes utilities, etc). The first payment is confusing me as to how GST should be dealt with in my accounting for this income. And how will I complete my GST return to reflect this at the end of this month? 

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Tenancy
Ask Craig Ironside, Ministry of Business, Innovation and Employment questions relating to tenants and landlords

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:

Swimming pool safety

What would happen if your rental property has a pool and a tenant has a pool related accident? Could the tenant claim against the landlord in any way? If we, as a landlord, had confirmation that the pool was compliant with the relevant legislation, is that enough to protect our position?

 

 

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Property Advice
Ask Ron Hoy Fong, director of Ronovationz for questions relating to investment strategy and property advice

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:

Insulation requirements

Where can I find, in black and white, the insulation requirements that my rental property requires?

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Insurance
Ask Myles Noble from Crombie Lockwood questions relating to insurance

Last answered question:

Landlord insurance in jeopardy

While investigating possible causes of waste water blockages, I discovered that my tenants have two to three companies using the property as a physical business address.

My insurance covers a home office of 50% maximum. However, this is not home office activity. They are investment and development companies and have boards of directors who do not live at the address.

The lease has no maximum figure number but it does have a clause that says no subletting.

How do I find out how much they claim in rent against their tax and am I entitled to what they have charged these companies for rent?

Further, I am concerned that this activity means that my residential house is uninsured. I am also concerned there is some kind of tax fraud going on as there is only an office in the lounge. Finally, as the businesses were active before my tenants signed a residential lease, was it fraud for them to not disclose this information?

What would you do?

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