The budget

[Learning]

Accomodation supplement up $20/wk. Issue the 60 day letter of $20/wk rent increase now?

[eri]

the cost for property owners will be the increase in insurance, ecq levies

[Bob Kane]

Well there's the justification for a $20pw rent increase.

[Wayne]

Accomodation supplement up $20/wk. Issue the 60 day letter of $20/wk rent increase now?

WTF - good reason why LL get all the bad publicity they do.
Do you know that the tenants are getting the supplement?

Surely you currently charge market rate - why would you change that?

[Aston]

Accomodation supplement up $20/wk. Issue the 60 day letter of $20/wk rent increase now?

Absolutely nothing in this Budget to justify rental increases.

[Nick G]

Assuming inflation of 1.5% rent will go up $10 pw on average each year anyway.

[Learning]

WTF - good reason why LL get all the bad publicity they do.
Do you know that the tenants are getting the supplement?

Surely you currently charge market rate - why would you change that?

The comment was tongue in cheek hence the emoji but no doubt it was what some less scrupulous LLs would be thinking.

As for your questions- at least one family of tenants is on accomodation sup. Not sure of the other.
- And thanks to the recent rental boom one property is $50/wk below and the other $90/wk below market rate, according to Tenancy services market rate page. Just shows how far they've moved in a year.

I will be raising them by $5 and $10 a week at the end of their FT to cover increased costs over the year.

[Wayne]

Assuming inflation of 1.5% rent will go up $10 pw on average each year anyway.

So now rents should follow inflation?
Is that why they increased so much while inflation was close to zero?

[Nick G]

The key word is on average. $30 pw more for people will flow over into more spending, flows over into more costs and flows over into higher rents. It's not a Scrooge McDuck effect, just happens.

Wellington last 6 or so years - flat, flat, flat, flat, flat, whoosh.

[Bobsyouruncle]

Incredibly naive to assume landlords won't consider the budget absolute justification for rent increases. In areas like South Auckland there are a LARGE number of Indian and Asian landlords now who will absolutely increase rents based on this. And that will cause the rest of us to put them up to new market rents.
Inevitable, absolutely a done deal in Auckland.

[Perry]

There was a Budget?

All I noticed was just another lolly scramble.

Blenglish and co dangle a Cheshire Cat Carrot in front of the NZ Electorate. Then there was talk of government surpluses. (to pay for all these bribes)

Did anyone ask the hard questions? Not that I noticed. How can the government have a surplus of taxpayers' money when it has put taxpayers so deep in debt?

I can't figure that out. Mind you, I wasn't all that good at maths.

Net Debt

After increasing over the past four years, net debt has flattened while falling as a share of the economy (24.6% of GDP versus 25.1% of GDP a year earlier). Net debt in nominal terms was similar to last year, with an increase of $1.2 billion this June year, as the core Crown continued to run a residual cash deficit albeit reduced from recent years.

Figure 11 - Net debt



Gross Debt

Gross debt, which reflects the borrowings of the core Crown, was $0.8 billion higher than a year earlier at $86.9 billion (Figure 12). As a percentage of the economy, gross debt dropped 1.1% to 34.5% of GDP (35.6% of GDP a year earlier).

Figure 12 - Gross debt

[Bobsyouruncle]

It's David Copperfield economics P!

[Perry]

The worst part is that the average, easily-deluded and self-interested-only voter will only see the carrot, not the lies, deceit and long term pain involved. A recent media release from Winston First is on the same matter.

Under National NZ's debt has blown out to record levels.

We have gross external debt of over a quarter TRILLION dollars. We have total public debt of over $87 billion.

This debt works out to be $60,360 per Kiwi or $168,170 per household.

The interest alone on this debt is huge - $222 a second, $13,000 a minute, nearly a million dollars an hour and per year a terrifying $7 billion dollars.

With New Zealand drowning in record debt, how can anyone still think National is good with money?

The good news is you can help do something about it by supporting New Zealand First.

Given the troika trap of the gNats, the Reds and the Watermelons, Winston may be in with a good chance.

[eri]

winston would "help" nz

like trump is "helping" america

or a bull "helps"

in running a china shop