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 manager refusal

We are in the process of terminating our agreement with our property manager as we believe he is not acting in our best interests. We are moving to another property manager.

Despite several requests our current property manager refuses to supply us (as the owner) with a copy of the current tenancy agreement and contact details of the tenant. He advised us that "we have no choice in this matter and we have to accept it". He says he will only supply this information to our new property manager at a time closer to the termination of our agreement with him.

As our property manager does he have a legal obligation to supply us - as the owners - with this information?

 

 

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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:

Sell, invest or hold?

We live in Hawkes Bay. Because of the hot property market at the moment we are looking at selling our rental property. It is freehold, valued at around $350,000 and returning $330 per week. We are both working and live in a rent free house on a farm.

We are thinking we would like to buy a holiday home in Taupo and rent for casual holiday stays. But we are unsure if this is the best option - or would we be better off putting the money into the bank and getting interest off the $350,000?

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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 Nick Ashford of Withers Tsang & Co questions relating to Tax and Asset Structures

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

Last answered question:

Taxing flatmates vs boarders

My 19 year old University student daughter is buying a property and plans to rent out the second bedroom, I have read that if she does this she doesn't have to pay tax if the person pays less than $254 per week. We anticipate the rent for the second bedroom to be $230. Does this also apply if her trust buys the property for her - ie: the property is in her trust's name?

 

 

 

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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:

Non-compliant rental

A recent Tenancy Tribunal decision awarded a full refund of all rent paid to a tenant where it was proven that the rented premises was non-compliant. Please can you point us to this case to read and review?

We began renting a house built in 1998 over 12 months ago on a two year fixed term which we have just discovered does not have a Code of Compliance Certificate. We also note the landlord has limited or no home building insurance and this concerns us. Can you please advise?

Can we have the contract terminated by the Tenancy Tribunal and claim back the rent? Is the landlord committing an unlawful act renting out the home?

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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:

Suspect damage claims

I have a tenant who is vacating in a few weeks. They have now called and said there was some damage to the property (damage to roof eave near garage) caused by dogs or intruders (which they didn't see). When I inspected the damage it was obvious that the damage was caused by a moving truck backing down the driveway. I have taken photos.

My conversations with the tenant suggest they assume I will claim on my insurance. I have a high excess and have never claimed insurance before so I am reluctant to take this option, especially considering the improbable story about dogs damaging the roof at night. Can I take this dispute up in court? What are my options?

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Insurance
Ask Myles Noble from Crombie Lockwood questions relating to insurance

Last answered question:

Insurance confusion

I work as a lawn mowing contractor and I have Public Liability Insurance. I mow a lot of rental properties. I broke a $1000 window at a rental property the other day while line trimming (just an accident - no negligence)and I thought I would be covered by my insurance.

But my insurance company informed me my insurance would not cover this as it was the owners responsibility. They cited the Holler vs Osaki case. Tenancy Services also said it was the owners responsibility, citing the same case. The property management company disagrees with this and said I am liable as I am a contractor and my insurer needs to come to the party. Who is correct?

 

 

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