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.
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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 refusing EQC repairs move
My tenant is on a periodic tenancy in Christchurch. I have organised a date for EQC to begin repairs and the property is required to be vacant. EQC will organise temporary accommodation but the tenant is refusing to move out. What is my position here? There is a property manager looking after the property.
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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:
Spread borrowing?
I live overseas and own seven rental properties in New Zealand. Last year I approached the ASB to lend me some money for another rental property purchase, but I was declined in case of tenant default (even though I have sufficient additional income to make repayments). I note your advice about not having all your eggs in one basket and admit that all my properties are with the ASB. Two are paid off and act as security for the other five. Now I am wondering just how much security the ASB actually needs and whether I am in a position to ask the ASB to release one of the paid off properties, so that I can approach another bank to use it as security for another purchase. Have you any idea of the current percentages/criteria that the banks use?
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Paul Reid first started dealing in real estate when he was 21 years of age and discovered a great passion for the industry; his passion his since taken him 8 years down the track where he first established ICONiCITY at the age of 29 in April 2009. In the last financial year the company bought and sold over 122 apartments in Auckland's CBD.
Last answered question:
Apartment returns
What do you advise when looking at buying an apartment as an investment? Freehold units with net yield 5.5% or leasehold units at 7% with freehold lessor interest of 6.5%?
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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:
Rates payment in advance?
Does Determination E12 cover expenses paid for in advance by individuals as well as businesses? I want to reduce a high income this tax year by paying (rental property) rates in advance, my income next tax year will be lower.
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The Department of Building and Housing provides information and guidance on building law and compliance, services including weathertight homes, and advice for tenants and landlords.
Last answered question:
Key breaching trust?
My new tenant has had keys cut and given them to his girlfriend, without my concent. What can I do about this as I feel it's a large security risk and breach of trust.
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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:
Creating wealth
We are looking to purchase a home and possibly a rental property but are unsure of what strategy to take. We have about $300,000 and live in Auckland. Should we buy a high-priced central city family home and leverage off it as its value rises or should we buy a family home further out and then take the extra cash to buy perhaps two other rentals. What is the better approach over a 15 to 20 year period?
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Last answered question:
Tenant flood damage
I moved into a house and I think the owner knew it would flood but never told me. The first flood happened after some hard rain, destroying over a $1,000 worth of my stuff and then a second flood came. Who will reimburse me for all the things I’ve lost? The landlord made repairs but they didn’t work ... what should I do? Do I need a lawyer?
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