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 30 years.

Last answered question:

Reasonably practicable insulation

I was wondering about the defintion of 'reasonably practicable' when it comes to meeting the requirement for insulating a rental property? I have a small unit that was insulated at the time of being built (circa 1994) but does not meet the current R-Value rating.

There is no access to ceiling space (it is gib ceiling without manhole) and if there was access, the space in sloped roof ranges from 10cm to 1.5 metre high. The walls (gib internally & hardie board externally) are also insulated but again do not meet current R-Value. The floor is concrete slab.

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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:

Ownership change

I am the sole shareholder of an LTC which owns residential rental property. Soon this company is going to be making a profit rather than a loss. I intend to keep it in a profit situation in order to pay down debt on the property. Would you recommend changing the ownership to a trust? or something else?

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Apartments
Ask Aaron Tunstall, owner of Impression Real Estate, questions relating to apartments.

Aaron Tunstall is the owner of Impression Real Estate, specialising in sales, building and property management. Impression has been awarded property management company of the year three times.

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:

GST quandary

I am keen to purchase a hotel managed property. The rental income includes GST but annually it is less than $60,000. The property price is $xx plus GST. Can I know if I have the option of NOT registering for GST? And, if so, do I need to do anything? How about the rental which is inclusive of GST? I am happy to pay the GST on the property price.

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Tax/GST/LTC
Ask Matthew Gilligan, managing director of Gilligan Rowe + Associates, questions relating to tax, trusts and finance.

Matthew heads GRA's specialist property and asset planning division. He helps clients create optimal tax structures and build wealth through property. He has an extensive buy-to-hold property portfolio, is currently involved in over a dozen developments, and is author of two books - Property 101 and Tax Structures 101.

Last answered question:

GST quandary

I am keen to purchase a hotel managed property. The rental income includes GST but annually it is less than $60,000. The property price is $xx plus GST. Can I know if I have the option of NOT registering for GST? And, if so, do I need to do anything? How about the rental which is inclusive of GST? I am happy to pay the GST on the property price.

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Tenancy
Ask Jennifer Sykes, 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:

Reclaiming letting fee

My family moved into a house for rent through an agent. But after we moved in everything was to be dealt with through the landlord. Two weeks after we moved in I got a call from another agent saying that the landlord is putting the house on the market for sale. I'm just wondering what are the chances of getting any money back from the letting fee and so on?

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