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:
Plumbing repair woes
We have recently had work done on one of our properties. This was organised by our property manager. Only one quote was submitted by a plumber and, due to the urgency for the repairs, we accepted the quote. Once the work was complete, our property manager told us he had done a marvellous job. So in good faith we paid without inspecting.
However, a week later we visited the property to do some minor repairs. We discovered the plumbing job was substandard and the repairs were not done properly. Further, our tenants told us the plumber – who turns out to be a friend of our property manager - spent less than half the time he charged us for. He also over charged us for the materials.
We tried mediation through our property manager but they do not support our claims and are covering up for their friend, the plumber. Who do we take the Small Claims Court? The plumber or our property manager? And where can we report our non-professional property manager?
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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:
Leverage strategies
We are looking to purchase a property in Auckland. But we want to buy with a view to investment and we aren't sure of what strategy to take. Should we buy a more expensive, inner suburb family home and leverage off it as its value rises down the track? Or should we buy a cheaper family home further out and then buy a rental as well? What do you think would be the better strategy in the long term?
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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:
Getting bright line right
I have owned a house for about four years. Over that time, I purchased a new house and having been using the old house as a rental for a year now. I'm looking to move the old house into a company which will be a change in ownership.
My accountant says that by changing the purpose of the old house from residential to rental a year ago, it is counted as a sale for bright line purposes (and therefore I've now only owned it for a year). Another accountant I've talked to, however, disagrees with this opinion and says it's only a sale when registered with LINZ. Which one is correct?
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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:
Getting bright line right
I have owned a house for about four years. Over that time, I purchased a new house and having been using the old house as a rental for a year now. I'm looking to move the old house into a company which will be a change in ownership.
My accountant says that by changing the purpose of the old house from residential to rental a year ago, it is counted as a sale for bright line purposes (and therefore I've now only owned it for a year). Another accountant I've talked to, however, disagrees with this opinion and says it's only a sale when registered with LINZ. Which one is correct?
Read on...
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:
House-sitting vs sub-letting
Do I have the right as a tenant to invite whoever I wish to my home to look after my belongings, feed my pet(s), water my garden, and take my rubbish and recycling out when I go away for a few days? Do I have any obligation to inform anybody that I'm going on holiday, other than my employer? If the rent is paid up to date why would my landlord have an interest?
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