Election 2017 - Party commitments on mandatory WOFs, affordable rents .....

[artemis]

.... restricted rent increases, long term tenant security, enforced renters rights. Plus the usual warm, dry, safe.

This has been put together by Renters United, a tenant advocacy group.

The link below has a traffic light summary and there is more detail from party responses linked.

Generally good for landlords who decide to stay in the sector as rental availability will continue to drop / rents rise.

http://www.rentersunited.org.nz/vote/

[Jeffa]

Here's my response to any changes or what I'm anticipating as a Landlord. .
1#Rent increased to 1 per year. .no big deal if you were planning on increasing the rent by 10$ & another 10$ in 6 months. .no problem. .increase rent by 20$ for the year. .problem solved.
2# Long term tenancy is a good thing ..the longer you have a tenant the less vacancy the better the return on investment.
3#Rental WOF ...no big deal we have all made capital over the past few years a 10k investment isn't going to break the bank. .think long term .
4# Capital gains tax. ..let's say you make
100k in capital and Jacinda wants her 30k...that's fine. .be patient wait until you make 150k in capital. .there's your 100k..look to Oz they work it into the sale price.
5# Getting rid of negative gearing. .this will not affect landlords already in the game because it will not be implemented for 5 years (if at all ) that's enough time to raise rent; pay down debt or increase equity to atleast break even or turn a profit. .as for new investors in 5 years? Well there won't be as many investors meaning less rentals. .more tenants to chose from and higher yields. ..did I forget to mention there's an America's Cup in 4 years in Auckland . .watch this space.

[Nick G]

Pretty much. The WOF will hurt owners in small towns, which will mean some sell, which puts the rents up for those left and pays for their repairs...

Anyway the new tax rules are out, no changes here, move along...

[eri]

places like invercargill

will be in trouble with their cold wet climate + old housing stock

the low rents they return mean upgrades unlikely to a tough standard

and new investor housing even more unlikely to be built

[Wayne]

places like invercargill

will be in trouble with their cold wet climate + old housing stock

the low rents they return mean upgrades unlikely to a tough standard

and new investor housing even more unlikely to be built

They could get around that.
Make it that in areas like Invercargill anything goes because no one cares.
Even if they need it more (insulation and no breeze inside) we'll give them less.

[sidinz]

Here's my response to any changes or what I'm anticipating as a Landlord. .
1#Rent increased to 1 per year. .no big deal if you were planning on increasing the rent by 10$ & another 10$ in 6 months. .no problem. .increase rent by 20$ for the year. .problem solved.
2# Long term tenancy is a good thing ..the longer you have a tenant the less vacancy the better the return on investment.
3#Rental WOF ...no big deal we have all made capital over the past few years a 10k investment isn't going to break the bank. .think long term .
4# Capital gains tax. ..let's say you make
100k in capital and Jacinda wants her 30k...that's fine. .be patient wait until you make 150k in capital. .there's your 100k..look to Oz they work it into the sale price.
5# Getting rid of negative gearing. .this will not affect landlords already in the game because it will not be implemented for 5 years (if at all ) that's enough time to raise rent; pay down debt or increase equity to atleast break even or turn a profit. .as for new investors in 5 years? Well there won't be as many investors meaning less rentals. .more tenants to chose from and higher yields. ..did I forget to mention there's an America's Cup in 4 years in Auckland . .watch this space.

You are assuming that other landlords are in a similar position to you. Not everyone is. We're a disparate lot and what is no big deal to you could be break time for others.

[Don't believe the Hype]

You are assuming that other landlords are in a similar position to you. Not everyone is. We're a disparate lot and what is no big deal to you could be break time for others.

We're not a desperate lot. While you might be in a tight financial position at the moment it's highly likely your situation will improve. Others including myself are not.

Landlords that have been in the game for a long time, quietly looking after their properties, paying down debt and not using their properties as an ATM should be in a strong position.

Those who have bought in the recent few years leveraging equity gains to buy the next property chasing capital gain vs. sound cash flow investment will likely be the ones you're referring to as 'desperate' the cycle will shake these guys out of the market, creating opportunities for others.

[artemis]

Um, disparate not desperate.

[Don't believe the Hype]

Oops... misread the post. My bad

didn't follow my own rule 'read twice post once'

[Anthonyacat]

Oops... misread the post. My bad

didn't follow my own rule 'read twice post once'

I also read desperate, but then thought that doesn't make sense and re-read.

Your response added useful commentary to the thread regardless, though.

[jimO]

places like invercargill

will be in trouble with their cold wet climate + old housing stock

the low rents they return mean upgrades unlikely to a tough standard

and new investor housing even more unlikely to be built

how long have you lived in Invercargill? funny how people in auckland (winterless north) complain about cold damp mouldy houses

[Davo36]

I'm in my 40s. When my parents were first married, they'd wake up to ice on the inside of their bedroom windows! In Auckland.

[Perry]

I'm in my 40s. When my parents were first married, they'd wake up to ice on the inside of their bedroom windows! In Auckland.

Just another don't get it situation, really, as Sidnz alludes.

I recall sleeping on a mattress on the floor with old sheets across the windows in a block of state flats which have since been demolished. The missus walked everywhere (behind a pram / pushchair) and I went to work on a motorbike, rain or shine, summer and winter. As for having a phone - you've got to be kidding.

[eri]

how long have you lived in Invercargill? funny how people in auckland (winterless north) complain about cold damp mouldy houses

i haven't

a quick search shows many of the old cheap places down there now ARE being insulated, good to see

hopefully the casement windows aren't too drafty

https://www.trademe.co.nz/property/residential-property-to-rent/auction-1418799878.htm

[jimO]

i haven't

a quick search shows many of the old cheap places down there now ARE being insulated, good to see

hopefully the casement windows aren't too drafty

https://www.trademe.co.nz/property/r...1418799878.htm

perhaps if you lived there you will find it isnt all that cold or wet.....mind you the aucklanders keep away because they THINK they will get cold