Opinion

The business of property investing

Friday, September 26th 2008

One of the reasons we call our property investment website Landlords.co.nz is to remind people that buying a property isn’t just an investment.

People who become property investors are in reality setting up a business providing a service to customers. The service is providing accommodation.

Often these “customers” are the more needy people.

How well this service is provided by New Zealand’s quarter of a million landlords is a moot point. It’s also one I will candidly say I have no idea how they are doing. Looking at the Tenancy Tribunal there are plenty of disputes and there are just as many bad landlords as there are bad tenants.

Keeping this idea of service in mind it is pleasing to see the NZ Property Investors’ Federation (NZPIF) has developed a Code of Practice for its members. I’m all for raising the bar and making sure that the service provided is excellent.

What I do wonder though is why it is made voluntary? Surely if you have a code then all members should abide by it?

A while back there was a proposal that suggested all landlords should belong to a professional body like the NZPIF. This is, after all, no different to what other professions/vocations do, so why not do it with this group of business people?

I understand there is quite a bit of discussion amongst card-carrying NZPIF members about the code.

What would be really good is if they could develop this into some sort of brand so good tenants seek good landlords – these would be NZPIF members which abide by the code.

That would be a win-win situation and one which would encourage people to join associations.

An interesting thought to ponder.
Heartland Bank - Online 6.69
SBS FirstHome Combo 6.74
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.45
China Construction Bank 6.75
TSB Special 6.75
ICBC 6.75
ANZ Special 6.79
ASB Bank 6.79
AIA - Go Home Loans 6.79
Kiwibank Special 6.79
BNZ - Classic 6.79
Unity 6.79
Westpac Special 6.39
China Construction Bank 6.40
ICBC 6.49
SBS Bank Special 6.55
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
ASB Bank 6.55
AIA - Go Home Loans 6.55
TSB Special 6.59
Kainga Ora 6.99
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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