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:

Property management changeover

I had my rental property with real estate company A (rent guaranteed contract) and they sold their rent roll to real estate Company B (during our contract period) while Company A still owed us some rent. Now Company B refuses to take over the contract we signed with Company A, and has asked us to sign a new contract with them - although they are actually managing the property for us now. Does Company B have to take over all the rights and obligations of Company A during the original contract period? Where do I stand ?

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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:

Interest deductibility

Many years ago we purchased a property in Auckland for $350,000. With the current GV above $570,000, how can we claim tax benefits on the higher value?

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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:

Apartment insulation requirements

We moved into an apartment.

Before we moved in we weren't able to check the garage as the tenant showed us through and he wasn't very forth coming.

We took the place and I asked the property manager if it was possible to get the place insulated, as upon flat inspection, I noticed it wasn't.

He said he'd get back to me. (I put it in writing too.)

When the key hand over happened I asked again and he said the house isn't that cold. He was wrong. On our first night there it was freezing cold.

Is there any way to ensure this gets done? Surely a landlord would want to do this as an investment on their property and to ensure long term great tenants?

 

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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:

Tax deductibility for rental

I have been renting out my property while I have been travelling around NZ.

I know my rental will make a loss this year.

Am I able to off-set these losses again any personal NZ income that I have earned in 2015 to receive a tax refund?

I haven't set up a company for rental property as I only have the one property.

However, it is being privately managed by an rental agent.

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Tenancy
Ask Allan Galloway, 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:

Rent reduction for sub-division

The house in question has been sold keeping the existing tenants. The current property included a big back yard and garage. But the back yard is now being sub-divided which means the garage will be demolished.

The tenants will have to store their belongings from the garage elsewhere and there will no longer be a backyard as the contractors will be running services, ripping up the driveway and putting a house on the backyard. Are the tenants entitled to a rent reduction?

 

 

 

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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:

Non permitted sleep out

I saw a house which I am thinking of buying - but it has a non permitted sleep out which consists of two bedrooms, a bathroom and a living room.

Is it a good move investing in a property with a non permitted sleep out? If not, how much would it usually cost to get Council consent for the sleep out?

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Insurance
Ask Myles Noble from Crombie Lockwood questions relating to insurance

Last answered question:

Hotel apartment liability

Currently I own an apartment in the CBD and it is leased out to a fixed tenant.

I have been approached by the hotel management company to join the hotel pool and receive the guaranteed rental return.

As I am new to this hotel management, I would like to find out what the situation would be if a hotel guest sustained an injury while staying in my apartment:

Who would be responsible - myself or the hotel management?

Could the tenant sue the owner?

Is there any insurance that I could take up to protect against third party liability?

 

 

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