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Covid-19 Economic & General Effects for PIs & PMs

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  • #61
    It's a good article, though the math is a bit simple. There should be at least a little consideration that $1 in 30 years time is worth a lot less than $1 now.

    Additionally, it ignores what your funds can earn in the interim. As a basic example, people who have a fixed and a flexi portion of their mortgage save 4-6%pa on their flexi funds that stay in that account instead of paying a 3-4% fixed mortgage.
    AAT Accounting Services - Property Specialist - [email protected]
    Fixed price fees and quick knowledgeable service for property investors & traders!

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    • #62
      Lawn contractor tells me Govt says he's not essential service under Covid-19

      So I just received an email from my lawn contractor who belongs to a large franchise telling me that lawns are not classed as essential service during Covid-19 lockdown.

      Uhmm, so what do I do now, go and borrow a lawnmower and do my rental properties myself? It seems it might be a bit of a scam, lets say he may prefer to stay at home and collect free money from the socialist government.

      Surely lawns and garden should be considered essential services?
      After all the council are still able to mow the vast reserves and parks during this lockdown. Overgrown Gardens can also become a safety hazard.

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      • #63
        You're kidding right... what has this world come to?

        Next they'll tell me the guys that come into my garage and polish my cars are non essential.


        Stay at home, save lives

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        • #64
          Originally posted by mrsaneperson View Post
          Surely lawns and garden should be considered essential services?
          After all the council are still able to mow the vast reserves and parks during this lockdown.
          An extra 10cm of grass is not going to kill you!!! If you see a council worker out mowing while you're out on your daily walk please report them as that is definitely Not an essential service.

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          • #65
            Read Woods Weasel Words Carefully


            Property investor claims human rights breach as Govt clamps down amid coronavirus outbreak

            27 Mar 2020

            Originally posted by Stuff
            Property investors say they are being left out of pocket, ignored by measures intended to help support the rest of the New Zealand economy. Housing Minister Megan Woods said it was not giving tenants a free pass for bad behaviour. Another LL, who did not want to be named, said he had a number of properties vacant because tenants moved out before the lockdown. Others had stopped paying rent. One tenant stuck in China was $6500 behind in rent.

            "I now have to spend money going to Tenancy Tribunal to request their bond monies back but tribunals hearings are about to be suspended or there is a queue of two to four weeks for hearings. I have to store all the tenants' personal belongings at a cost until the Tenancy Tribunals allow me to dispose of their belongings and recoup those costs. "Meanwhile I have to keep paying the bank loan and rates and insurance and body corporate fees and ground lease rent and property management fees and operating expenses of the apartment…Worst-case scenario, I will have to sell the property in a falling market or declare bankruptcy and allow the property to sell in a mortgagee sale."
            READ WOODS WEASEL WORDS CAREFULLY

            Dear Megan Woods . . . .
            You were reported as saying . . .
            "It is not acceptable for tenants to abuse the current situation by refusing to pay rent when they have the capacity to do so . . .
            My tenants all claim they don't have the capacity to do so. [pay the rent]

            What will you be doing about that?
            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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            • #66
              Originally posted by Perry View Post

              Anecdotally - I've also heard that the "official" number of infections is being politically 'massaged' / 'sanitised.'
              Numbers of infections always are an estimate, not everybody reports feeling sick, if so making contact after days of hoping to get better soon, and finally the test result comes after days of waiting.. so even correct numbers come with a latency of a week or so.

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              • #67
                Govt stuffed up big time

                Disclaimer: so has every other govt in the world, but we had a chance.

                1. Assuming they knew that if we reached a threshold of community transmission they would have to shut the country down. They had plenty of time to know that, the entire Europe was shutting down one at a time.

                2. Assuming they knew that if you shutdown you will cause the country's economy to implode. Well, maybe they didn't know. But I'd argue that if they didn't know that's very poor form for a govt.

                3. So armed with these information, we had many other countries to follow. Italy went into crisis Feb 27 or thereabouts. The entire Europe went into crisis 1st week of March. Australia went into crisis about 12-15 March. Flights were all cancelled and airlines grounded in Australia around 14 March.

                4. Yet they let all passengers stroll into the country and all they did was hand a pamphlet.

                5. Then they watched the cases in the country go up and up.

                6. Then they got worried and tested until they found community transmission, panicked, then shut down. The country implodes.

                7. Until now they are still lax about their border quarantine IMO.

                That is really poor form. If they had began quarantine at the border when Europe or even when Australia went into crisis we would not be in this situation.

                Just thought I'd get the information out there, as everybody sees our govt as a hero. They are not. Yes our cases are one of the lowest in the world, but we are now literally a bankrupt country (well the 90% affected by the shutdown is), and it could have been so easily prevented.
                Last edited by jack2016; 27-03-2020, 10:07 AM.

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                • #68
                  The tripling of the notice period for rent arrears is going to be a huge problem. 60 days, Jesus, the government really just thinks of us as a golden goose.
                  One of my tenants has already missed a rent payment and does not appear to be communicating with me.

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                  • #69
                    Originally posted by Perry View Post
                    My tenants all claim they don't have the capacity to do so. [pay the rent]

                    What will you be doing about that?
                    Key question here is does the government expect landlords to extend the tenants credit, or is it welfare?

                    Comment


                    • #70
                      Jeffa

                      Please stay on topic.

                      Your recent such posts have been move to here.

                      Perry
                      Moderator
                      Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                      • #71
                        I see the reserve grass being mowed regularly as an essential service. If the parks and reserves come covered in long grass then they are no longer viable to play on in this lockdown. The same goes for private gardens. The comparison with cleaning a car is silly.

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                        • #72
                          Tribunal Order

                          Auckland woman ordered out of rental after alleged fighting, partying disturbs neighbours
                          27 Mar 2020

                          Interesting. When and where will she go?
                          Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                          • #73
                            Silly you! The long grass is for the sheople living in rentals. Particularly the HNZ ones, now that Krummy Fried Crap and McMalnutrition are closed.
                            Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                            • #74
                              Probably a nice motel unit @ $150 a night.
                              All paid for by our so kind (but rather stupid) Guvmnt.
                              So glad I pay so much tax.
                              The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

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                              • #75
                                Originally posted by mrsaneperson View Post
                                So I just received an email from my lawn contractor who belongs to a large franchise telling me that lawns are not classed as essential service during Covid-19 lockdown.

                                Uhmm, so what do I do now, go and borrow a lawnmower and do my rental properties myself? It seems it might be a bit of a scam, lets say he may prefer to stay at home and collect free money from the socialist government.

                                Surely lawns and garden should be considered essential services?
                                After all the council are still able to mow the vast reserves and parks during this lockdown. Overgrown Gardens can also become a safety hazard.

                                My GOD!!!

                                People like you will definitely extend this lock down considerably longer than 4 weeks.

                                That must qualify for the stupidest post/attitude of the year (and I believe for the rest of the year as well)

                                I was at New World yesterday and was told (TOLD mind you) that close contact was OK as long as it was not more than 15 minutes. That, after I insisted they stay at least 2 meters away.

                                Darwin, come here and cull the thick people will you?

                                *walks away wanting to say more but knowing I will be banned from Property Talk if I do*
                                Last edited by Perry; 27-03-2020, 08:43 PM. Reason: added quoted post
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