Originally posted by Gary Lin
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Why isn't everybody doing this?
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Originally posted by Maccachic View PostAnd if you haven't the money to fix then tough if the BC votes to fix, you don't get the choice unfortunately.
- Provide and maintain the premises in a reasonable condition.
- Allow the tenant quiet enjoyment of the premises.
- Comply with all building, health and safety standards that apply to the premises.
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If you don't have the $$ to pay your share, then owning a unit and leaving it empty while paying all the other costs is only going to make things worse.
I use an example of Listed Property Stocks on the NZX who have done expensive earthquake strengthening to maintain their tenants.
Cost spread amongst thousands of shareholders, versus a sole owner of a commercial building.
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Originally posted by Janicz View PostHi All,
I'm confused. My money is sitting at 3% in the bank, and by the looks of it, I can get at least 6% net yield buying shoe box apartments. So why isn't everybody buying apartments? Assuming an efficient market, prices of apartments should rise/rent should fall so that you make a lower yield on your apartment. Does the extra 3% fairly cover risk, hassle, property management etc.?
What am I missing? Why isn't everyone buying shoe box apartments if it generates more return than my money at the bank?
Cheers,
J
Hi there. Because of leaky buildings. My wife used to manage body corporate for city apartments, in a leaky building your body corp fee will rise very high , so your rent would be spent to pay that. High body corp fees are because of maintenance and legal fees against the developer.
Yes i agree money in bank is not giving the best return, but because we can invest in houses so apartments are not attractive for me
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3% in the bank?
You seriously need to research different banks term deposits as you can get far more than 3%.
Regarding 6% net return, great if you have no loan.www.PropertyMinder.co.nz
# Property Management
# Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices
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