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 22 years.

Last answered question:

Communication break-down

As my current tenancy come to an end, I told my property manager to hold off advertising for a new tenancy over the phone. The agent then signed a new 12 months tenancy without my consent and denies the phone conversation ever took place. To resolve this dispute, the property management company gave me two options:

1.They continue to manage my property until the new tenancy runs out. Or

2. They can hand over the new tenancy to me to manage if I pay them a fee to cover their cost.

I am not interested in doing either as there is no trust anymore for option 1, and they have already charged me management fees for the month and the new tenant letting fees. Is there any way I can hold them accountable for acting without consent and get my house back without the new tenancy and without paying them more fees?

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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:

Accessing investment lending

I'm looking to purchase an investment property. I have equity in my first property but I have been told that I need 40% equity across both properties and that with the LVR policies in place it will be hard for me to get a loan. I'm working off the government CV. Should I get my house revaluated to show any further increase in equity? Also, what are the best next steps to try and purchase an investment property?

 

 

 

 

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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:

Trust funds

I have a property in a Trust. Is it possible to depreciate the property and be able to access the the funds or will they remain in the Trust?

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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:

Trust funds

I have a property in a Trust. Is it possible to depreciate the property and be able to access the the funds or will they remain in the Trust?

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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:

Releasing difficult tenant

My tenants asked for a rent reduction slightly after moving in saying the carpet was broken. I refused her. Then she started to look for all kinds of excuses to terminate the one year fixed agreement and even apply to the Tribunal. She also asked for compensation for thousands of dollars. i am totally annoyed by this. I don't think there is fault on my part. But the tenants may still get some compensation. Even if she cannot get a coin, but she seems to have no risk in the case. I have found a new tenant. Should I release the current tenant?

 

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Property Advice
Ask Ron Hoy Fong, director of Ronovationz for questions relating to investment strategy and property advice

Ron loves to share his passion for property and his coaching course provides one-on-one mentoring and support that will empower you with tools, strategies and valuable insights so you can achieve investment success and become a property master.

Last answered question:

Picking a location

I am a New Zealand citizen living in Australia. I am looking for an investment property in New Zealand. My budget maximum $700,000. Based on the capital gain and rental factors, would you recommend buying in Wellington, Christchurch or Auckland? 

1) Wellington prices increased a lot last year. The Wellington market was very stable last decade. But I'm not sure if prices will keep increasing

2) Auckland prices are already very high. I could probably only afford a unit with that budget.

3) Christchurch is very affordable - especially since Auckland and Wellington have already increased. I think Christchurch may also boom at some stage.

Any advice would be appreciated!

 

 

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