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.

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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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More Questions & Answers about Property Management »
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:

LTC movements

Looking for a bit of advice... The house we live in (house 1) is currently owned by our family trust and has an outstanding debt of around $200,000 (GV $600,000). We bought a rental property (house 2) last year that is owned by our LTC and has a debt of around $600,000 ($GV $700,000). Next year we are looking to move into house 2 and make that our family home and rent out house 1.

Living in a property owned by the LTC does not appear beneficial as I would like to transfer most of the debt to house 1 and have less debt on house 2 when we move. So would it be better to change the ownership structures and have house 1 owned by the LTC and house 2 owned by the trust or leave the structure unchanged? Our intention is to keep both properties long term with house 1 eventually providing a passive income after we retire in 20-25 years time.

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More Questions & Answers about Finance & Strategy »
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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More Questions & Answers about Apartments »
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:

Rental transfer to LC

I have seen the various answers with respect to transferring rentals to LTC, but I would like to ask it from a different approach.

My wife and I have a couple of rental properties acquired a number of years ago, and did not at the time set up a company for them. (This was about 20 years ago, and we were both overseas). Now we are back in the country and we are looking the possibility of moving the rental properties to a Limited Company (not a LTC).

The aim of this is to make tax reporting easier, to clarify the tax structure, and to provide a future platform for more investment purchases in the future. But would the IRD see this as tax avoidance, as we are not looking at the LTC setup to pass losses (if there are any) on to our own income?

We would be selling them to the company at the value that would cover the current mortgages on them and to cover the historical deprecation on those properties

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More Questions & Answers about Tax/GST/LTC »
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:

Removing a bad tenant

I want to remove my tenant as the property is deteriorating due to incomplete renovations. For example, I recently tended to a rat problem in the roof, but further serious action is required to resolve.

The tenant (sister) pays a minimal rent and was provided with a tenancy agreement (which was never returned).

The tenant can be verbally abusive to myself and neighbours. I'm concerned that if I provide her with 90 days notice, she will consider it to be a retaliatory notice.

Can you offer any advice?


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More Questions & Answers about Tenancy »
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:

Habitable property?

I have a tenant who has been with us for some years. Already an older home, she has trashed it to become an almost unlivable home. So much so that we had a demolition date scheduled and gave her notice. We now may have to wait for demolition while funds come through.

I guess I just really need to know whether we could be liable for any health concerns or issues that the tenant says has happened as a result of them living in our property. I could not live as they do but they seem happy to. If I was certain that we couldn't be taken to court, we would be happy to leave them in the home and for them to continue to live as they have been whilst we wait for demolition. Please advise.

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More Questions & Answers about Property Advice »
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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More Questions & Answers about Insurance »

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