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Covid-19 Economic & General Effects for PIs & PMs

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  • #31
    Hi everyone. Just wondering whether everyone else is being proactive about the risk of tenants not being able to pay their rent if there is a lockdown. No work, no pay, no rent payment. I suspect the government will be sympathetic to tenants and that is right (because people deserve to live right??) but doesn't help a landlord trying to satisfy their bank.

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    • #32
      Originally posted by watchful View Post
      Hi everyone. Just wondering whether everyone else is being proactive about the risk of tenants not being able to pay their rent if there is a lockdown. No work, no pay, no rent payment. I suspect the government will be sympathetic to tenants and that is right (because people deserve to live right??) but doesn't help a landlord trying to satisfy their bank.
      If landlords think there might be a problem with rent, tell the tenants to contact MSD right away. Specifically the Sustaining Tenancies (ST) and Temporary Additional Support (TAS) programmes. ST is fairly new for private rentals but has been in place longer for public housing and it is funded to the tune of tens of millions to stop terminations, through financial and social support. TAS has been around a long time. Both programmes have processes in place to determine what funding, if any, is needed and landlords don't.

      The government will add more funding if / when there is demand in the current situation. Landlords are not the tenant's mother and should follow their usual procedures.

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      • #33
        Great post Artemis.

        cheers,

        Donna
        SEARCH PropertyTalk, About PropertyTalk

        BusinessBlogs - the best business articles are found here

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        • #34
          Hi Donna, I asked on another thread but you may not have seen, are you able to PM me your builders details? I have a 2-3hr job in the city outside of the scope of my abilities.

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          • #35
            Originally posted by PC View Post
            Our greatest economist - Eaqud - is predicting a deep dark recession. So that’s a relief. With his track record of successful calls it’ll probably be over by next week.
            I love this! That guy should be out of a job a longtime ago, truly he's a fool.

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            • #36
              It will be tough on those that loose their jobs.

              https://www.tvnz.co.nz/one-news/new-...n-survey-finds


              Always have a safety net.
              Last edited by Bluecoat; 21-03-2020, 03:52 PM.

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              • #37
                Originally posted by PC View Post
                Our greatest economist - Eaqud - is predicting a deep dark recession. So that’s a relief. With his track record of successful calls it’ll probably be over by next week.

                Originally posted by mrsaneperson View Post
                I love this! That guy should be out of a job a longtime ago, truly he's a fool.

                He may have got a lucky guess right, this time. Can' be wrong, all the time.
                Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                • #38
                  Too horrible to contemplate is the spectre of a postponed election and another year of the LL-bashing by FarGonBoy and his fellow socio-commie W'gton woodenheads.
                  Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                  • #39
                    Originally posted by Perry View Post
                    Too horrible to contemplate is the spectre of a postponed election and another year of the LL-bashing by FarGonBoy and his fellow socio-commie W'gton woodenheads.
                    So you're thinking on the same line as me, we go to "level 3, spock" just before election time. Not dangerous enough for Winny to self isolate at age 73,but dangerous enough that I cannot hand an envelope with my vote into a polling station.

                    I am already feeling ripped off.

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                    • #40
                      Talk Now But Do What When?

                      This seen in a recent accountancy firm email . . .
                      We have been receiving calls from clients asking if IRD has made any statement on upcoming tax payments. As yet there has been nothing from IRD. If you would like to spread these payments over a number of months, we will approach IRD on your behalf. Please just give us a call.
                      Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                      • #41
                        Hypocrisy Alert

                        After consistently vilifying them all, the Minister for Denigrating LLs, FarGonBoy asks LLs to be sympathetic to the plight of those who vote for him. I.e. Tenants. (Or not wanting to choke on the notion, hides his request behind a hapless public servant, sycophant or other W'gton woodenhead.)

                        After saying everyone must pitch in to help, Taxcindarella eventually, belatedly and under pressure announces a pay, allowances and superannuation cut for all MPs. (cough; choke; gasp; wheeze.)

                        Later, the same for public servants.

                        The chairman of Local Gummint NZ announces that all councils will reduce rates by 25% (while increasing staff & councillor pay by the same percentage) I.e. No Rates savings for Ratepayers.

                        Councils announce free parking outside pharmacies.

                        The NZ-resident Boards of Directors and CEOs of NZ financial institutions (incl. banks!) announce a 50% pay cut to their remuneration for six months.

                        Watercare announces a zero per cubic metre water supply price until 31 October, 2020. (After which there will be a price increase.)

                        The Minister of Disease (sorry, health) announces the suspension of the $5 prescription fee until after the next election.

                        Taxcindarella announces the postponement of the General Election until whenever. (Public health safety will be the reason given; the reality will be an extension of tenure for the current crop of drone house klowns.)

                        Every outfit involved in the generation, supply and distribution of electricity announces a price freeze. (A price reduction? You what? Silly you! If we did that, it would reduce the stealth tax (dividend) we pay to the gummint.)

                        Proposed RTA amendments are postponed until further notice.

                        I'm sure to have missed lots.

                        Please add your own!
                        Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                        • #42
                          Corvid 19 economic effects

                          We have just instituted a cancellation policy on all physical inspections. We are now looking to virtual inspections.

                          Looking to an account on Zoom as we can get recordings of the inspection.

                          Keep safe out there.
                          Last edited by Perry; 23-03-2020, 05:35 PM. Reason: formatting
                          www.3888444.co.nz
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                          • #43
                            It's Started

                            At 1.00pm today (Mon 23 Mar) the Prime Minister, Jacinda Ardern, announced that New Zealand will shut down in two days time.

                            - All non-essential businesses must close in 48 hours. This includes bars, restaurants, cinemas, playgrounds.
                            - Essential services will remain open.
                            - All indoor and outdoor events are banned.
                            - Schools will close from tomorrow.
                            - All of these measures will remain in place for four weeks.

                            I heard something about tenancy terminations and a rent freeze, but that was hearsay.

                            What's an essential service, I wonder?
                            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                            • #44
                              Rent freeze not hearsay. Posted a separste thread on this a bit earlier as it felt like a pretty significant move, but perhaps it belongs in this thread.

                              https://www.nzherald.co.nz/nz/news/a...ectid=12319116
                              AAT Accounting Services - Property Specialist - [email protected]
                              Fixed price fees and quick knowledgeable service for property investors & traders!

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                              • #45
                                Finance Minister Grant Robertson said LLs will temporarily be unable to raise rents in a bid to provide relief to renters facing reduced working hours or job losses as a result of the coronavirus downturn.
                                Just how any LL would think that raising rents would provide relief to tenants escapes me. (Are the media and/or Robsome that stupid?)

                                "The second decision we have taken today is to freeze rent increases and to look to extend no-cause terminations to protect people during this difficult time. We will release more details of how we will operationalise that in the coming days."
                                There's that lie again! (Yes, Robsome's lips were moving.) There is always a cause, Robsome. It is simply not provided.

                                As for that horrible ersatz word, "operationalise," a full frontal lobotomy may help Robsome out, there.

                                No. The current crisis is no excuse. No excuse at all.
                                Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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