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  1. #11
    Join Date
    Dec 2003
    Location
    Auckland, New Zealand
    Posts
    110

    Default

    Hi Davo

    Although rental property may be the investment of choice in surveys such as the ASB Investment Survey, only 6% of the population actually do it.

    I suspect that the general population thinks that there are great returns from property, but they don't want to put the time and effort requireed into running a rental property or two.

    They may also be averse to owing money and don't like this aspect of rental property ownership. There are probably a whole host of other reasons, but it is interesting that many people believe that it is the best choice but relatively few actually do it.
    Andrew King,
    Too many tenants in your property? Hire a sleepout and increase the rent
    Andrew King Property Management Services - NZ Property Investors' Federation

  2. #12
    Join Date
    Oct 2006
    Location
    Auckland
    Posts
    570

    Default

    I think the landlords who got into IP's for the long term will stay, historically it has shown to be a good choice capital wise, but never the less is not easy as we all know. If managed right you can keep on top of things but the business needs constant monitoring especially if you have 5 or more properties.

    So this property thing is not for just anyone, but for those who stick at it I believe the rewards will come, the government has tried to steer us clear of this so we need to stay focused and so NO.

    I have chosen to invest in property and I will continue to. Fair enough!!

    FH

  3. #13
    Join Date
    Jan 2005
    Posts
    1,443

    Default

    Quote Originally Posted by freezinhot View Post
    I think the landlords who got into IP's for the long term will stay, historically it has shown to be a good choice capital wise, but never the less is not easy as we all know. If managed right you can keep on top of things but the business needs constant monitoring especially if you have 5 or more properties.

    So this property thing is not for just anyone, but for those who stick at it I believe the rewards will come, the government has tried to steer us clear of this so we need to stay focused and so NO.

    I have chosen to invest in property and I will continue to. Fair enough!!

    FH
    Good post, and I agree!
    I'm in this property game for the long haul, and know that I need a big enough buffer to suck up any hiccups, and look to the future.

  4. #14
    Join Date
    Oct 2006
    Location
    Auckland
    Posts
    570

    Default Update

    Spoke with a property manager today who works out of manukau, she said landlords are already increasing rents by 5-10%!

    FH

  5. #15
    Join Date
    Jan 2005
    Posts
    1,443

    Default

    Quote Originally Posted by freezinhot View Post
    Spoke with a property manager today who works out of manukau, she said landlords are already increasing rents by 5-10%!

    FH
    I don't understand this pack mentality of increasing rents just because others are doing it?
    Nobody ever talks of decreasing rents?
    I adjust my rents because I compare what is on the market at the time. Adjusting could mean downwards. The market decides this really.

    I don't really care what others are doing just because they've listened to some spotty faced news reporter or property manager saying that rents need to increase because of one thing or the other.

    There are many things that dictate what your IPs' rent capacity is, and a governments budget isn't up there!

    At the end of the day you will adjust the rent so the property is let, because theres no use in asking for $400pw (because the news said rents will be increasing by 10%??)when you're only ever going to get $360 tops!

  6. #16
    Join Date
    Sep 2007
    Location
    Christchurch
    Posts
    1,259

    Default

    Quote Originally Posted by Glen View Post
    I don't understand this pack mentality of increasing rents just because others are doing it?
    ...
    I adjust my rents because I compare what is on the market at the time.
    In other words, if everyone else is increasing rents, you will too.


  7. #17
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,910

    Default

    Quote Originally Posted by Glen View Post
    I don't understand this pack mentality of increasing rents just because others are doing it?
    Nobody ever talks of decreasing rents?
    I adjust my rents because I compare what is on the market at the time. Adjusting could mean downwards. The market decides this really.

    I don't really care what others are doing just because they've listened to some spotty faced news reporter or property manager saying that rents need to increase because of one thing or the other.

    There are many things that dictate what your IPs' rent capacity is, and a governments budget isn't up there!

    At the end of the day you will adjust the rent so the property is let, because theres no use in asking for $400pw (because the news said rents will be increasing by 10%??)when you're only ever going to get $360 tops!
    Market = Pack.

    Cant think of any other way to make it simpler.

  8. #18
    Join Date
    Jun 2007
    Location
    Wellington
    Posts
    1,237

    Default

    You can either chase the market or lead it.

    We try to lead it here in Wellington



 

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