Renters in gun as market shrinks

[Glenn]

I listened to the radio report on line.
I thought they sounded like a pack of monkeys.
The first issue is never make threats of doing something to punish someone if you have no ability nor intention to do that. Just what does the university think they can do to intervene.
Then again Shamubeel says the answer is to supply more rentals but he makes no suggestion as to how to get some new or existing providers of rental housing (like us) to achieve this.
Then what can one say about Nicky. She does not like rents being bidded up and thinks there should be some amendments to the RTA. What is the bet she has never read the RTA or at least has never needed to use it in court.

[flyernzl]

Quite how a University can intervene is a mystery.

They appear to have no legal status under the RTA (as they are neither the tenant or the landlord) and it would appear that if rents are rising to a new market level then any claim that the rent requested is substantially above the current market rates would fail, as that is the new market rate.

Funny how these arguments/explanations/discussions never actually feature any Landlords.

[artemis]

I do confess that having a politician included to provide balance is a quite foreign concept to me.

Heh, I did think including Mr Twyford would be a good idea so he could explain why his many proposals to intervene in the rental market would encourage landlords to enter or remain in the business. Balanced of course by landlords or the PIF with a reality check.

[artemis]

Quite how a University can intervene is a mystery.

They appear to have no legal status under the RTA (as they are neither the tenant or the landlord) and it would appear that if rents are rising to a new market level then any claim that the rent requested is substantially above the current market rates would fail, as that is the new market rate.

Funny how these arguments/explanations/discussions never actually feature any Landlords.

Victoria University owns a lot of student accommodation, including two newish blocks on the Kelburn campus housing several hundred students. Aimed at first years, I think. The uni could influence the student rental market short term by adjusting the rents charged. In theory anyway. And medium to long term by building more. And more. And ....

The campus is a precinct under the District Plan, which basically means they can do what they like.

[flyernzl]

My understanding is that the student accommodation is run as a boarding house rather than a residential rental.
Therefore does not fall under the confines of the RTA.

Also, assuming that the current student accom is already full, no matter by how much they reduce their charges there will still be the same number of students who cant get in and will therefore be needing the private market.

Building more is, as you say. long term and therefore any affect from that will; be years if not decades away.

So the university is, in reality, quite powerless in this matter and can only huff and puff.

[donna]

I posted this message to stuff on this article and they rejected it.

I have just posted out rent increase letters to 20 out of 25 rentals.
The chosen level is below the market rate. One tenant has already said that the increase is reasonable.
The rent increase date accidently occurs the same day as the accommodation Supplement AS goes up.
I just figure that I better get in and issue my rent increases now whilst I still can. I fear that some costs will go up more than I can absorb.
I checked the AS rate increases. The formula appears to be hidden (for reasons?)but they have a tool box you can enter figures like income, rent, matrimonial status and so on in. It appears that couples are going to get a healthy increase. Like more than my rent increases by a country mile. But tenants living alone will get about $5 (less than my average $20 increases) and anyone on Government Super will get less AS?

Comments please readers....

Did Stuff give a reason for the rejection? Seems like a reasonable comment - what's happened to freedom of speech?

cheers,

Donna

[eri]

we have a minority gov.

led by a specialist in marketing

previously known as propaganda

so the message is gently being massaged

in support of policies

largely rejected by voters

don't judge them too harshly

without a moral compass

spin-drs often aren't even sure

what their own opinions are

[artemis]

My understanding is that the student accommodation is run as a boarding house rather than a residential rental. Therefore does not fall under the confines of the RTA.

Also, assuming that the current student accom is already full, no matter by how much they reduce their charges there will still be the same number of students who cant get in and will therefore be needing the private market.
Building more is, as you say. long term and therefore any affect from that will; be years if not decades away.
So the university is, in reality, quite powerless in this matter and can only huff and puff.

Vic Uni has quite a few apartments which I thought might come under the RTA but perhaps not. The VC didn't say how he would intervene in the market. He may be confused. Ivory towers and all that.

[Sportsvee]

Any input from the Association through all this?

[Glenn]

Did Stuff give a reason for the rejection? Seems like a reasonable comment - what's happened to freedom of speech?

cheers,

Donna

They never give a reason.
I get lots rejected.
My posts must bring up a red flag.