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.
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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:
Changing lightbulbs
I have a tenant asking me to change out their lightbulbs as the celling is too high. Is it the landlords responsibility to change lightbulbs? Also, as a landlord, is it my responsibility to provide a tenant with a dryer?
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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:
Invest or reduce loan?
I own a home worth $875,000 in today’s market and I have a mortgage of $540,000. I also have savings around $150,000. I was looking at the option of investing in a property at around $700,000. By borrowing on my equity and using my savings I should be able to get 30-40% deposit for investing. I am self-employed, so what’s the best option here in terms of tax and financial benefit long term? Should I use my savings to reduce my personal loan or put it into investing?
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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:
Small apartment development
I’m lucky enough to be able to develop the section my family home is on. I have invested for years. However, this is likely to be my biggest project to date and I quite honestly don’t know where to begin. I’ve been told by a house building company that we could get up to 10 of their terraced town houses on to it. However, I’m curious as to whether we could build apartments and, if so, are they cheaper to build or could we get more on? Also, what companies build smallish apartment blocks in Auckland? Can you recommend anything I could read or do I just start with council? Thanks for any help you can give.
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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:
Bright line liability?
My LTC company purchased a two-bedroom unit in May 2015. It has been rented out ever since. If the company was to sell this unit today, with the intention of re-investing all of the proceeds into another larger rental property, would the company be liable to pay the bright-line capital gains tax? And if so, is the bright-line test pro-rata in any way? For example, would it be a minor tax as the time owned has been for four and a half years? Or do I really need to wait until May 2020 to be exempt from this tax?
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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:
Bright line liability?
My LTC company purchased a two-bedroom unit in May 2015. It has been rented out ever since. If the company was to sell this unit today, with the intention of re-investing all of the proceeds into another larger rental property, would the company be liable to pay the bright-line capital gains tax? And if so, is the bright-line test pro-rata in any way? For example, would it be a minor tax as the time owned has been for four and a half years? Or do I really need to wait until May 2020 to be exempt from this tax?
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More Questions & Answers about Tax/GST/LTC »
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:
Tenants' right to quiet enjoyment
My husband and I recently signed a joint agreement with the landlord (also acting as agent), this agreement lines out the locations that are used by the landlord (a hut in the garden).
The landlord mis-sold us the arrangement by saying he stays on occasion to work on the property. Minimal work has been achieved and he spends approx 80% of his time in and around the hut in my garden. This invades privacy and feels as though he is living for free while we pay his mortgage.
The house is also mouldy, there are water leaks and a very old rusty roof which he agrees needs replacing (but still allowed us to move in). Furthermore, the walls are infested with ants causing infrastructure to degrade (small piles of saw dust around woodwork).
The tenancy agreement is almost finished, however if possible, I want to raise awareness on this as I very much enjoy living here. He wants to make changes to include he will be here often without restrictions. What is the law around this please?
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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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