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:

Tenant reno arrangements

I am looking to start renovation of a dated property.

This will involve a complete renovation of the kitchen (possibly removing a structural wall). It may also involve renovation of the laundry and bathrooms. Realistically the house will not be liveable during this time. I have existing tenants who are very good and I do not want them moving out.

What are my responsibilities/obligations to them while the house is being renovated - eg: do I have to pay for there accommodation elsewhere or do they not pay rent during this time?

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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:

Owner occupier to landlord

We are looking to buy a house to live in, but may consider renting it if it does not suit our needs. We are in the Auckland area and would appreciate advice on how our home loan may be affected if our owner occupied home becomes a rental. Will we need to meet the LVR investor restrictions even though it's our only property and has previously been owner occupied?

 

 

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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:

AirBnB tax calculations

We rent out our sleepout on AirBnB, for short-term rentals. We know we need to declare income, and can claim expenses, but we are not sure of the 'method' for this? We don't seem to be landlords (overnight stays) and they're not boarders (no meals). And would we count expenses as a % of floor space? or % of occupancy? 

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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:

Unsatisfactory property

I rented a property which had mould and smelled. I did not get a chance to look at the property beforehand as I was moving form a different country. I cleaned up the property but the smell didn't go away. Also, the toilet didn't flash properly and the front door needed new rollers. I told the property manager about the issues but they didn't fix them or talk to the landlord, I moved out and they still want me to pay rent. I feel this is not fair. Should I have to pay rent?

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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:

Newbie tactics

Would it be a good move to get a 20% home loan and then, after three months or so, convert it to an investment property? What would be the advantages or disadvantages? Or would it be worthwhile waiting to save up for the 30% investment property in Auckland? This will be my first property purchase. I haven't purchased my home yet as I prefer living in the city. I just want to save on initial costs as I'd rather spend it on renovation.

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Insurance
Ask Myles Noble from Crombie Lockwood questions relating to insurance

Last answered question:

Tenant damage claims

My tenant has moved out and left the carpet very dirty. On top of that, it is covered in cigarette burns. It needs to be replaced. The tenant has also broken every single blind in the house.

The tenancy adjudicator has asked me to provide my insurance details for the Tenancy Tribunal hearing where I will seek the damages from the tenant. I suspect the adjudicator is looking to use the Osaki decision to allow the tenant to walk away from my claim.

My policy is a standard policy with excess on each claim but my insurer tells me that each room is a claim. Owing to that excess and each damage item being a new claim I can not economically claim repairs from my insurance. The total damage is in excess of $3,000 but each event is not more than the excess.

I noted that the Osaki decision is about a peril - a house fire. But can cigarette burns and broken blinds be a peril? Can I claim?

 

 

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