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Poll: How would ring-fencing of residential rentals affect you?

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  1. #11
    Join Date
    Apr 2004
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    Auckland
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    Rents are going up, up, up.
    Woohooo!
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  2. #12
    Join Date
    Mar 2007
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    Auckland
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    3,021

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    Quote Originally Posted by Davo36 View Post
    They have also totally failed to reign in councils who have been stifling development in every way they can.
    The reality is that it is not just Councils. Its also the 'not in my back yard' crowd:

    "Neighbours up in arms over five homes on single Auckland section"

    http://www.nzherald.co.nz/property/n...ectid=11854629

  3. #13
    Join Date
    Oct 2013
    Posts
    1,617

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    Quote Originally Posted by Davo36 View Post
    Who will intentionally build apartments or houses for rent now?
    What I want to know is who is unintentionally building apartments or houses. That's a skill right there.
    AAT Accounting Services - Property Specialist Accounting - AATAccounting.co.nz
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  4. #14
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    Oct 2013
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    Just read the article above. NIMBYs are a problem, but the developer has to have been joking when he said Five families will benefit from being able to walk their children to school, reducing pressure on the roads.

    In what world could having five families where there was previously one will reduce pressure on the roads.
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  5. #15
    Join Date
    Mar 2009
    Posts
    155

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    Rents going up.. yay.. Soon to quit my real job end of the year at 32 years of age and live off my rentals and other investments. I never bought any property which doesn't make money or potential to make money. Who wants to buys anything which doesn't make real money?

    Go labour.. nah.. still not..

    Quote Originally Posted by PC View Post
    Rents are going up, up, up.
    Woohooo!

  6. #16
    Join Date
    May 2004
    Posts
    2,779

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    Quote Originally Posted by Anthonyacat View Post
    Just read the article above. NIMBYs are a problem, but the developer has to have been joking when he said Five families will benefit from being able to walk their children to school, reducing pressure on the roads.

    In what world could having five families where there was previously one will reduce pressure on the roads.
    Developer was probably responding to the school traffic issue, which looms very large in the neighbours' specific objections. But the development is really close to the school and most unlikely that the children would be driven the few metres. That is even if there are primary children living in the new places. Neighbours are clutching at straws becasue they don't want a 3 storey high modern development anywhere near their picturesque leafy suburb.

  7. #17
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    3,021

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    My mole tells me that the intent of the Labour policy is to treat every property as a stand-alone tax unit.
    So if you have two rental properties, one postive and one negative cash flow you would be expected to pay income tax on the profitable one but not be able to deduct the losses from the other.

    Not sur how this would work if you buy a tin of paint and then use some on each house. Some creative accounting to be required there.
    Last edited by flyernzl; 15-05-2017 at 02:24 PM.

  8. #18
    Join Date
    Oct 2013
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    That sounds like a lot of work. Expect accounting fees to go up too - which of course, you'll have to raise your rents further for.
    AAT Accounting Services - Property Specialist Accounting - AATAccounting.co.nz
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  9. #19

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    Doesn't this merely bring property inline with businesses? A business has it's losses ring-fenced.

  10. #20
    Join Date
    May 2007
    Location
    Hamilton
    Posts
    3,595

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    Quote Originally Posted by prometheia View Post
    Doesn't this merely bring property inline with businesses? A business has it's losses ring-fenced.
    Why do you say that? As with property it depends on the structure, and often business losses offset other income

    Ross
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