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Election Special Part 2: Housing Policies of the Minority Parties

On the 23rd of September this year, New Zealand’s election will take place.  Here’s what the minority parties key policies are on Housing:

Act Party

✓ Sees sudden reform as socially disruptive transfer away from those who have invested in the current market.

✓ Would remove New Zealand’s large cities from the Resource Management Act, and create separate urban development legislation, prioritising land supply and reducing red tape on developers.

✓ Incentivise councils to consent more land for development and build more infrastructure, by sharing a portion of GST levied on construction.

✓ Get Councils out of the building standards process, by replacing council building inspections and compliance with a mandatory private insurance regime for buildings.

Greens

✓ Reduce speculative investment in the housing market by tightening the rules around loss attributing qualifying companies and introducing a capital gains tax on all but the family home.

✓ Providing funding to third sector housing organisations for a minimum of 1,000 units a year for the next 3 years

✓ low interest finance for low income households

✓ shift tenancies to more secure, predictable tenure arrangements

New Zealand First

✓ Non-residents who are not New Zealand citizens would be ineligible for home ownership except if a genuine need to do so can be demonstrated.

✓ Establish new state agency to acquire land in the Auckland Special Housing Areas

✓ Sell sections under long term agreements up to 25 years on a cost recovery basis.  Sections would be offered to first home buyers with low interest rates like 2% and then the home buyer would build on the home using normal bank finance.

✓ Better housing quality, sustainability and adequate insurance in light of recent earthquakes

The Opportunities Party

✓ Overhaul the tax system

✓ People’s income taxes would fall, but all owners of homes would pay tax each year as though they were an investment.

✓ Wants to tax all assets including houses saying “around 80 per cent of adults will be either unaffected or pay less tax as a result of this taxation reform.”

If you’d like to discuss these policies further and how they may impact the Auckland Rental market, feel free to contact me, Ryan, at Walker Weir Property Management.

August 29th, 2017

Walker Weir has the edge over its competitors when it comes to advertising your property for rent.

We use cutting edge systems which mean tenants can not only book in for viewings online but also apply for our properties online 24/7 without the inconvenience of having to print, scan and sign forms.

Properties need to be advertised with good images. A poor photograph can lead to low levels of interest and poor turn out at viewings. With this in mind we put extra care into every photograph and make sure we get the best angles and high quality needed.

You can see here how we compare to some of our top competitors. The difference speaks for it's self!

Another difference for your listing is the positioning on Trade Me. See below how our listing is number 1 on the list. Where as a competitor listing the same property was on page 3.

Having your listing on page one will give you more page views and more interest in your property resulting in getting it rented faster.

So if you are looking for property management that leads the way and puts your listing as a priority then get in touch either by phone Ryan on 0226579432 or by email at ryan@walkerweir.co.nz.

July 24th, 2017

Is asbestos contamination the next ‘can of worms’ for property investors to deal with?

The hits seem to just keep on coming for property investors. The latest ‘industry scare’ is asbestos. It’s believed that up to 75% of the NZ rental housing stock will have building products containing asbestos. Proposed changes to the Health and Safety Act mean that from April 2018 every property under management may need to contain an asbestos register if there is a possibility that the property may contain asbestos. We are keeping a close eye on this issue and will update all of our property owners as necessary.

When is discrimination lawful?

In a recently publicised case a rental agent refused to arrange a house viewing for a heavily pregnant woman and her partner because the landlord did not want children living there. The matter was referred to the Human Rights Commission where a spokesperson said the Human Rights Act deemed it unlawful to discriminate based on “family status” which included caring for children. Andrew King, the executive officer of the New Zealand Property Investors Federation, said it was not an issue he had heard of in the past. In the past landlords had often preferred families because they were more stable tenants but since the Osaki case, where the Court of Appeal ruled last year that a tenant did not have to pay for damage after leaving a pot of oil on the stove and causing a fire, landlords were more wary of potential damage to their property and were looking closely at the suitability of tenants they were putting into their properties . http://www.nzherald.co.nz/property/news … d=11874883 – 13 June

Common sense starts to kick in over tenants damaging landlord’s properties:

The Residential Tenancies Amendment Bill (No. 2) which has been introduced to Parliament will provide better protections and clarity for landlords, Building and Construction Minister Dr Nick Smith says. “This Bill makes three practical changes to the Residential Tenancies Act to help ensure our tenancy laws better manage methamphetamine contamination, liability for careless damage and the tenancy of unsuitable properties. It builds on the changes we made last year requiring smoke alarms and insulation, and establishing a Tenancy Compliance and Investigations Team. “This Bill recognises that meth contamination of properties has become a significant issue that needs clearer direction. We want homes to be safe but we also don’t want properties being vacated when the risks are low. Under the new Bill tenants will be liable for the excess (insurance) cost up to a maximum of four weeks rent for each incident of damage.

Insulation:

It is now an unlawful act for a landlord not to stipulate on a tenancy agreement the extent and types of insulation a rental property has. The Tenancy Tribunal has made it quite clear in a recent ruling that failure to disclose insulation on a tenancy agreement is unlawful. In June 2019 it will be unlawful to rent a property which is not adequately insulated. We are working very hard to ensure that all of our owners are aware of these new laws. We will be unable to complete new tenancies where we have not been given the appropriate information about a rental properties insulation.

Next landlord disbursement date:

Tuesday 1 August 2017

Disclaimer:

Given the opinions expressed in parts of this newsletter it’s important that we make it clear that the contents of this email are opinions and observations and made in good faith. We suggest that in all cases independent legal and financial advice is sought.

Kind regards from the hard working team at Walker Weir.

ryan

July 18th, 2017

Is asbestos contamination the next ‘can of worms’ for property investors to deal with?

The hits seem to just keep on coming for property investors. The latest ‘industry scare’ is asbestos. It’s believed that up to 75% of the NZ rental housing stock will have building products containing asbestos. Proposed changes to the Health and Safety Act mean that from April 2018 every property under management may need to contain an asbestos register if there is a possibility that the property may contain asbestos. We are keeping a close eye on this issue and will update all of our property owners as necessary.

In the wake of the London tower fire:

There has never been a better time to consider emergency preparedness in both your rental property and own home. The tragic London fire has served as a reminder to us here at Walker Weir to ensure that all of the properties we look after are fire safe and have emergency evacuation plans where necessary. We harp on about it, but for a very small annual cost we can ensure that your property is smoke alarm compliant – which is now a legal requirement. If you haven’t done so already then please get in touch and request our annual smoke alarm service. If you live in Auckland then we can also include your own home. Hint: Always keep a working torch beside your bed (the wind up ones are good because then you don’t need to worry about the batteries.

Common sense starts to kick in over tenants damaging landlord’s properties:

The Residential Tenancies Amendment Bill (No. 2) which has been introduced to Parliament will provide better protections and clarity for landlords, Building and Construction Minister Dr Nick Smith says. “This Bill makes three practical changes to the Residential Tenancies Act to help ensure our tenancy laws better manage methamphetamine contamination, liability for careless damage and the tenancy of unsuitable properties. It builds on the changes we made last year requiring smoke alarms and insulation, and establishing a Tenancy Compliance and Investigations Team. “This Bill recognises that meth contamination of properties has become a significant issue that needs clearer direction. We want homes to be safe but we also don’t want properties being vacated when the risks are low.” Under the new Bill tenants will be liable for the excess (insurance) cost up to a maximum of four weeks rent for each incident of damage.

Property maintenance: 

It’s an UNLWAFUL ACT for a landlord to fail to adequately maintain a tenanted rental property. As agents for the landlord that responsibility falls to us and the fine for each breach is $4000. Tenancy Services now operate compliance units to help tenants take action against landlords for issues such as failing to adequately maintain rental properties.
Next landlord disbursement date: Monday 3 July 2017
Disclaimer: Given the opinions expressed in parts of this newsletter it’s important that we make it clear that the contents of this email are opinions and observations and made in good faith. We suggest that in all cases independent legal and financial advice is sought.
Kind regards from the hard working team at Walker Weir Property Management.

July 6th, 2017

There are two payment options, ‘Mid & End of Month’ and ‘End of Month Only’.

By default Clients frequency with Walker Weir is both, but at any time you can change to a different frequency.

Mid-Month

All monies received 1st to 14th of the month inclusive
We pay out Mid Month payments on the 15th of the month (or the next working day if the 15th falls on a weekend or public holiday).
This ensures we capture any monies paid on the night of the 14th.

Up-coming Payment Dates

  • 17th July 2017
  • 15th August 2017
  • 15th September 2017
  • 15th October 2017
  • 15th November 2017
  • 15th December 2017

End of Month

All monies received to the last day of the month inclusive
We pay out End of Month on the 1st of every month (or the next working day if the 1st falls on a weekend or public holiday).
This ensures we capture any monies paid on the night of the last day of the month.

Up-coming Payment Dates

  • 3rd July 2017
  • 1st August 2017
  • 1st September 2017
  • 2nd October 2017
  • 1st November 2017
  • 1st December 2017

Variation

  • The only Variation to this is during the Christmas and New Year period, but you will be made aware of the change to payment dates later in the year.
June 16th, 2017

Landlords are often asking us: do I need landlord insurance? We always like to remind landlords that owning a rental property is a lot like running a business. Part of doing that successfully is protecting against the potential for financial loss. These policies that provide insurance for landlords can help achieve that goal. So, we’re talking about some circumstances in which insurance is necessary, and how certain policies can help landlords, compared to what would happen if you didn’t have one in place. (more…)

March 22nd, 2017

At Walker Weir Property Management, we are a boutique and specialized property management company serving all of Auckland. Today, we want to talk to you about why people choose to work with us.

Walker Weir Rental Guarantee

A lot of our clients come to us because of the rental guarantee we have in place. With this guarantee, we make ourselves financially responsible for any tenancies we set up. If your tenants leave before they fulfill their lease contract or they don’t pay their rent for whatever reason, we will step in and pay what they owe. You won’t miss out on any rental income. We choose only the best tenants for your rental property, and that’s why we are able to provide this commitment. We know that if they don’t pay you, our own money is on the line.

Walker Weir Tendered Rent System

Another reason that property owners are excited to work with us is because of our tendered rent system. This is a unique way for you to earn more money and increase Why Work with Walker Weirthe value of your rental property. We will advertise your home with a price guide instead of a fixed rent. Tenants who are interested in the property will be screened and qualified, and those who are approved will have the opportunity to submit a tender for what they’re willing to pay for your property. This system creates competition among desirable tenants. It pushes the price of your property up, and you’ll find that it’s impossible to under-rent your property. Simply trading in a fixed price for a tender system increases your value and your income.

These are just a couple of the main reasons that people choose to work with us. If you have any questions about our rental guarantee or our tendered rent system, or you’d like to hear more about our services, please contact us at Walker Weir.

June 29th, 2016
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