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  1. #1
    Join Date
    Jun 2005
    Location
    Nelson NZ
    Posts
    3,863

    Default Nelson February 2014 meeting and newsletter

    NELSON PROPERTY INVESTORS ASSOCIATION

    FEBRUARY 2014 NEWSLETTER

    PO Box 198 Nelson
    Our first meeting ofthe year is being held at the Nelson Suburban Club,Tahunanui Drive on Tuesday 25 February. The meeting proper commences at 7.30 pmwith the ever popular meal at 6pm when you will have the opportunity to chat to other investors. Gregor Munro from MyMoves Property Management will be speaking on his internet rental property tracking program. This is one smart system that gives you access to all sorts of information that most landlords are not aware of. Gregor and his wife Gina have been members of Nelson PIA for some time. If you are coming to the meal please email Glenn at the above email address. TheSuburban Club reserves seats on the basis of my bookings.
    THE MARKET.
    The good trend continues since writing the previous newsletter last year. The traditional summer tenancy peak is providing firm demand in Nelson. Looking back to past rental demand statistics sourced from TradeMe and census figures shows that for the whole country the number of vacancies has dropped by a surprising 1000 over the last 6 weeks and 2400 since December. Nelson andTasman has increased slightly but what I and other property managers are seeing is tenants migrating here from the likes of Canterbury and Auckland are expecting to have to make a decision quickly and pay more than in the past. Clearly the shortage in Canterbury is over but the hype lingers on. I have commenced collecting and saving the number of properties for sale. This produces some interesting facts. I really am not sure what to make of them. You readers are invited to contribute to the common pool of knowledge by having a guess and emailing me your thoughts. In Nelson there is 7.8 times the number of properties for sale compared with properties to let. In Tasman 11.61x and Auckland a low stunning figure of just 2.34 and Wellington 2.11. So does mean that Aucklandand Wellington has abandoned TradeMe to advertise properties for sale or is it what the agents are saying. There is nothing much for sale. How does a high or low number of properties for sale impact on the rental market. Well obviously a shortage of any kind of stock be it wheat or houses makes prices go up.Eventually higher house prices will force the rent prices up because there are more people trapped in the rental market and for a while rent will be cheaper than paying a mortgage. So does this mean the opposite in our area where despite thin weekly real estate papers there seems to be more to choose from.Well actually in Auckland 2.13% of all residential properties are for sale compared with 2.64% in Nelson so despite the total size differences there is not much difference in percentages of “for sale” listings. I think perhaps the rental market is having an impact on sales in Nelson and in Auckland the reverse is occurring in that the for-sale market is impacting on the rental market. Who knows? If one wants to think about statistics and feel sure about something just look at Marlborough. Over the hill 7% of all dwellings are for sale.
    WARNING THE DESPERATE AREGETTING CUNNING
    I recently had a distressed call from a young landlord. He said how come you managers have not released the bond for my new tenant who used to rent off you? He could not hide his anger and distress. Your Kate who works for Glenn told me my prospective tenant was great when I rang her on her mobile. My staff responded with a “Who we do not have a Kate working here. Yes she does he spluttered this is her mobile phone number. The answerwas “Sorry never hear of her. That tenant had her tenancy terminated and had already been in the tenancy tribunal for rent arrears.” I did some tracking down to get back to the investor. I had his email because he has attended our meetings at least once but has not become a member. We have since had a most pleasant phone conversation and he has now handed over his property to a property manager who he had known for some time. He says he rang the call centre for advice and they said there is nothing in the RTA to prevent people acting this way and the only way to get rid of the tenant is to give her a 90day notice to terminate, which he has done. Well firstly RTA section 78 (1) (g)specifies that the Tribunal may terminate a tenancy where the agreement has been induced by fraud. Secondly what should he or another other landlord have done to avoid getting into such afix? Always check the phone number of the reference by looking at their website, white pages listing or ask some searching questions of the referee.Always be wary of mobile phone only numbers. Look up the ownership of the property on Terranet or various other sites. At the very least do a search of http://www.tenancytribunal.govt.nz/tenancy_tribunal/search.do. If he had done that he would have seen his lovely new tenant owed me rent. Obviously he should have also done a credit check. And finally for goodness sake why not pay your $185 and join Nelson Property Investors Association. All Landlords, be, they first time investors or experienced old hands should belong. Having more members gives us more clout with the national and local politicians. Informed landlords become rich landlords. Rich landlords need to help beginner landlords because one day you might need to sell your properties to the beginners. It is always great to hear old hands saying how almost everyone in our industry shares stories and tips. Competition is always friendly and healthy. You too can make your industry better by joining, learning and sharing.
    ONLY IN AMERICA
    News just in from USA reveals an interesting use of technology. One clever group of landlords is now collecting DNA of all dogs in their area. This great pile ofuseless information is stored in a central data base. Now when thy find some doggy doo on a property they can track down the owner and fine them.
    Last edited by Glenn; 18-02-2014 at 08:43 PM.

  2. #2
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    215

    Default

    MPIA in Blenheim.
    first meeting tonight at 730.
    Next month (March) Ron Hoy Fong speaks at the meeting and breakfast next day.
    More details to follow.
    To Sell or Buy Investment Property contact us. 0800 NZ PROPERTY or 021 402990
    www.propertyventures.co.nz
    *New* Check out our weekly free property show http://propertyventures.co.nz/podcast


 

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