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:

Bad neighbours & absentee landlord

I have neighbours with an absentee landlord who keep the property like a disgusting junk heap and create an abysmal amount of noise and disturbance. How do I find out who the landlord or property managers are and what are my rights in this situation?

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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:

Taxing subdivided land

 

We have 40 acres of bare land which we purchased in 2005. We were going to build on it but have now moved out of the district. We understand that if we sell it as one block there will be no tax implications.

However, we have decided to subdivide the block into three 10 acre and two five-acre blocks. We will provide power to the sites, fencing and gravel driveways/entries.

We are not sure if this qualifies as minor or major work when it comes to subdivisions - but we are not property developers. We have struggled to find information about the tax implications of this in New Zealand.

Can you help with some answers before we go ahead with the subdivision? If we do have to pay tax on the profit minus the cost of the land - do you know what percentage it is? Happy with any information you can provide.

 

 

 

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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:

Leasehold vs freehold

I'm interested in finding out more about apartments with a view to investing in one. What is the difference between a leasehold and a freehold apartment? And what are the pros and cons with both?

 

 

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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:

Second dwelling deductibility?

I am looking at building a second dwelling on my property to rent. I'm wondering what I can write off for tax purposes. I am looking at getting a further mortgage for the new build and am still paying off the mortgage on the land that the property is in, but which my current dwelling is on also. I know I can write off tax that goes to the interest on my mortgage which is straight forward for the new build but not for the land. Any thoughts?

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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:

Second dwelling deductibility?

I am looking at building a second dwelling on my property to rent. I'm wondering what I can write off for tax purposes. I am looking at getting a further mortgage for the new build and am still paying off the mortgage on the land that the property is in, but which my current dwelling is on also. I know I can write off tax that goes to the interest on my mortgage which is straight forward for the new build but not for the land. Any thoughts?

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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:

Demolition notice period

We are looking to demolish a rental property to build a family home. Are we required to give 42- or 90-days’ notice to the tenants?

 

 

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Insurance
Ask Rene Swindley, CEO of Initio Insurance, questions relating to insurance.

Rene is the founder of digital insurance platform Initio, which is about insuring houses online in real time to provide a faster, smoother and customer-first approach to property insurance.

Last answered question:

Missed inspection cover

I'm going away for an extended period of time over the festive season and I can't commit to my periodic inspection. Every three months is onerous. If I don't organise an inspection will I still be covered?

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