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.
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:
Divide and conquer with a revolving credit structure We have two investment properties, with Bank A for the past 4 years, which are locked up until 2014 with a low interest rate and are are security against each other.
Now we have cash deposits for properties 3 and 4 individually. I don't want to make the same mistakes we have made in the past with Bank A, so as a start we plan to buy Property 3 with our first cash deposit.
I need a way of splitting and working with Bank B to set up the first mortgage structure so when I go back to get it revalued, in say 6-months time, I can pull out all equity leaving a mortgage of 85% of RV on the property. I don't want to then use this equity as a deposit on the next property which is what we did with Bank A. Rather the equity should go into a credit line or similar so we can pull it out up to this value for future property investments.
I will also do this with our other cash deposit. Can you confirm the best approach here?
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 Set-up I need some advice on how we are to be structuring a small portfolio of 1960's built residential investment properties. They are currently all positive cashflow and need to understand the best way to go about re-structuring to keep the tax man happy aswell as us to benefit the most obviously.
They are still setup in an LAQC however not sure if we should be sliding into an LTC or if there is any gain / benefit.
We wil be at some point selling and buying a new family home in the horizon - however this is not under an LAQC as it is under my own name.
Any suggestions will be much appreciated
Thanks
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:
Interruption to quiet enjoyment We have lived in our rental for 10 months. From the start the landlord promised such things as decks (to replace rotten pallets that currently pose as decks) a privacy fence between our place and his, a carport etc. None of this has been done. Closest hint of work was piles put in ground for deck in November. Nothing since. My husband even broke bones in his foot by going through the rotten pellets so we removed the worst one. Wondering if not having 'official council sign off' on a rental property and no decks when there should be is against the new (2010) safety regulations for renting a place? No the decks etc weren't written into tenancy agreement but surely its a matter of getting the house up to council sign off standards and safety standards? Having some major issues with the landlord including the above + not allowing us "quiet privacy and enjoyment of property" & numerous other issues.
