Top dollar asked for slum flats - Christchurch

[flyernzl]

True.

I did not mean to criticize those who are making best efforts.There is some difference between major damage and 'tall weeds and abandoned shopping trolleys'.
I have been in Christchurch 12 months ago, and have some appreciation of the difficulties (though admittedly not as much as those who live there).

[Keys]

Bad day yesterday flyernzl. Shall I edit or let it stand?

[Perry]

S'OK by me to leave it there. No harm done
either way and no offence taken / intended.

[Kaye]

NO Keys leave it there for those who don't live down here in ChCh I'm very lucky didn't lose any services internet incl and long may that continue!

[Wiz]

I read that article, and then this thread, with interest. As a landlord here, it certainly doesn't tie in with my experience of the market right now. There is less time to rent, and rents have increased by a small margin if the small ads are anything to go by. I don't envy Keys and his ilk - the problems with our own house and EQC are frustrating enough, let along doing the same for myriad clients as do the PM's. Kudos.

[DazRaz]

My take on it is that Tenants Protection issued a press release to The Press to push their agenda backed by possibly one or two examples auctions / high prices for very damaged properties. This was published with little checking hence the obvious social soapbox piece it is. Add reader comments to make it the same landlord bash up as the similar article in December with equally little substance.

[Meehole]

We have made the move from Akld to ChCh and are currently renting a delightful 1 year old 4 beddy in the green zone but on the edge of the red zone (Avonside). I secured the property late Nov 11 and moved in a week ago having paid 3 weeks rent while it was vacant. I believe we are paying about $130 week more than it would have rented for prior to the 1st earthquake but probably $50 week less than they could get if it was advertised right now.
It was hard convincing a PM to take me seriously and luckily I found one that read through my bio which stated I too was a property manager, others though wouldn't even contemplate renting to us unless we attended the open homes to view the property, open homes that attracted 20 - 30 groups.
It is very hard to find "good" rentals here, there are however new homes being completed that are beginning to become part of the rental pool. Where the tradeys are going to live when the rebuild really kicks in is a mystery to me as I know of many that want to move here but cannot find anywhere to live.
Sub letting and home stays may be the way to go until more new houses are built, thereby enabling red zoners to move out of their rented accommodation and into their newly built home, freeing up more properties.

[hawkeye]

The tenants protection person quoted in The Press piece is so rabidly anti landlord that her opinions should be taken with a LARGE pinch of salt.

I think everyone agrees that there is a shortage of rental accommodation. The problem is how to get Cera, the insurers, the council etc to help address this rather than being handbrakes on the recovery.

Before the quakes we were fulltime landlords with 14 tenancies and a short stay holiday house. Currently we have no rentable accommodation and only have demolitions to deal with. We are now fulltime insurance advocates. The ongoing wrangling with our insurer and the EQC has been very difficult emotionally but we will carry on and the likely outcome will be a High Court case. There is no prospect of us being able to reinvest our capital in the city in the short to medium term. Even if we had the money available all of our land is Green / Blue (TC3) so it might be years before you can progress through the process to rebuild on this land.

In my opinion the rental stock isn't going to be rebuilt by the current owners and the money is going to leave the city.

The Tenants Protection person believes that all rental properties should be pristine before being rented, it is a shame she is less concerned about how they are returned. In Christchurch many people are still living in damaged patched homes. There is no choice as the assessment process and repair process takes so long.

As an amusing aside I was at my one and only Tenancy Tribunal hearing with my wife. Our tenant had done a runner leaving all their stuff after five years at the tenancy. I had to apply for possession and a disposal order. As we were leaving I was approached by the lady quoted in the article. She thought I was the tenant as we were dressed in our normal renovation clothes. She asked whether I was satisfied with the hearing and I replied yes, I had been given everything I asked for including all of the tenants bond. Her face was a picture!!

[Perry]

The tale told to the media has all the hallmarks of:
never let any facts get in the way of a good story.

[flyernzl]

Has anyone in Christchurch considered approaching the reporter or the paper involved with a story from the Landlords point of view?

Its all very well to grumble on here among like-minded folk, but we do need to get our story out there among the general public. People mostly assume that all Landlords spend every cent of the rents they receive on Rolls-Royces and champagne.

There has recently been some sniping on National Radio about high residential rent levels. I responded by sending them my standard 'Rent Levels' rationale.
This was acknowledged and read out in full by Jim Mora over the radio waves yesterday afternoon. Few people may have heard it (just after 3pm) but at least it helps to get a balanced view out to the public.

[Perry]

Damage to modern buildings 'wake-up call'
13/03/2012

Extensive damage to modern buildings in Christchurch after last February's earthquake
is a "wake-up call" for the construction industry, an inquiry has heard.

Don't worry, more CERA red tape will fix it!

[Dragon Master]

Has anyone in Christchurch considered approaching the reporter or the paper involved with a story from the Landlords point of view?

Its all very well to grumble on here among like-minded folk, but we do need to get our story out there among the general public. People mostly assume that all Landlords spend every cent of the rents they receive on Rolls-Royces and champagne.

There has recently been some sniping on National Radio about high residential rent levels. I responded by sending them my standard 'Rent Levels' rationale.
This was acknowledged and read out in full by Jim Mora over the radio waves yesterday afternoon. Few people may have heard it (just after 3pm) but at least it helps to get a balanced view out to the public.

I find that kind of strange. Of the LL's I know there doesn't seem to be any with a Rolls-Royce or even a Mercedesfor that matter. Sure they might have "New" cars but they are not high end More like KIA or Ford or Holden. Now as for Real Estate Agents That's where all the flashy cars are.
I don't see any reporter really caring about the LL's POV. There's no money to be made in the truth. Just look at the Sun Newspaper. Plus at the end of the day even if we LL's are "scum" we are needed and if people want to live in a house and can't buy one they only have 2 options. Flat or rent. Either way it's better than if there were no LL's.

[DazRaz]

Interesting point on the cars. I paid 2.5K for my car. Had it for about 3 years now and with only 140K on the clock I'll probably have it for a few more years. All of my tenants have a more expensive cars than mine.

[Dragon Master]

Interesting point on the cars. I paid 2.5K for my car. Had it for about 3 years now and with only 140K on the clock I'll probably have it for a few more years. All of my tenants have a more expensive cars than mine.

Probably why you own the house. I've had friends who have big flash cars. Big flash TV's and stereo systems and all that stuff. I have a modest TV. modest car and no stereo. Probably why I own a house and they are stuck being renters. Just a thought.

[flyernzl]

News media will publish the Landlords viewpoint in my experience, if they are given the information.
It seems to be that the tenants groups are a lot more forthcoming with their publicity than we are with ours.
Most Landlords seems to adopt a low-profile policy and hope things will blow over.


I have done the new car thing a few times over the years, nowadays Jap imports from Turners Auctions suit me fine. When I go and see my tenants I go in my 2000 Toyota Corolla diesel station wagon, just turned over 217,000km
When I do other things I go in my 2001 Nissan Avenir station wagon, touching 200,000km
I used to wash them. Now I deputize that to the rain.

In my early years I was into (and raced) sports cars. Now I just want something that always starts and then gets me to where I want to go with minimum effort. My MG has been in the shed since 1990. I'm still promising to restore it - one day.