Investors won't make a loss: King

I have been a landlord for over 10 years with five rental properties. It has taken me a lot of time (and two jobs) to get these properties and I maintain them to a high standard. In the last year or so, I have had to increase the rents six monthly as everything has gone up so much (insurance, repairs and maintenance). My long term tenants have not been happy with the increases as they have had it good for so long, however as a Landlord I have come to the conclusion that we are providing a social service and if they are not happy, they can move on. They know that they are on a good wicket and have not moved. From my perception and talking to my tenants, a lot of the rental stock is held by 'slum landlords' (South Auckland is where my rental stock is situated). There seems to be a lot of people who would rather rent than buy their own property. The LVR restrictions will make it even harder for the first home buyers to reach their goal. Good quality rental accommodation will attract the right tenants. The Salvation Army do a fantastic job with all the services they provide, but I refuse to let any of my properties to the 'low income groups' as they do not appreciate or look after the properties (talking from experience here). Unfortunately there will always be the problem of housing a lot of the low income tenants as most landlords expend a lot of money and time to maintain their properties and will not rent to this sector. Once bitten - twice shy is the old addage!! I do not know what the answer is to this problem - Housing NZ seem to be floundering still with not enough rental stock for the people who need it.