Hi I'm writing a news story for the paper and am looking for someone who has bought a leasehold property (preferably house or townhouse) who is willing to talk to me about the experience. Would anyone here fit the bill?
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Originally posted by HattrickNZ View Post
I don't know much at all about the zoning but I guess it must be a sitter for a more intensive development otherwise it seems the rent (lease) will always be too much compared with rental returns available.
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This shows the true value of leasehold properties.
Now, when the valuers do the next round of valuations, they should reduce the value of all these properties to $500 or so as that is the current market value.
Then the owners should reduce the lease to reflect the current valuations - is it 7% of market value?
At that point it gets interesting.
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Originally posted by Bob Kane View PostThis shows the true value of leasehold properties.
Now, when the valuers do the next round of valuations, they should reduce the value of all these properties to $500 or so as that is the current market value.
Then the owners should reduce the lease to reflect the current valuations - is it 7% of market value?
At that point it gets interesting.
It could be said that the current value of the house isn't even $500 - they can't sell it and probably can't give it away.
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Hi Susan you could contact the various parties who have been to court against the Cornwall park trust board. Especially the Asian woman they sued including for the costs to renovate the house which is unbelievable. I recall there are several homes around Cornwall park where the lessee walked away from the home and now the trust board has them rented at less than the lease value! Another house the trust board auctioned either two or one year ago using a reverse auction, idk now if that was the value of improvements or value of lease. I obtained info from the selling agent which will still be in my emails. It didn't sell.
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