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  1. #1
    Join Date
    Aug 2003
    Posts
    7,466

    Default We know what is squeezing the life out of the rental market

    I found this article on Stuff - a summary of why the rental property market in NZ is drying up. Being at the coal face we know why it's a tight market and is set to get tighter yet. So what's in the article:

    "Property speculators, and to that matter accidental landlords, don't make good landlords as their intentions are not aligned for long term stable ownership which leads to poor tenant conditions, in turn leading to increased regulation and poor tenancy quality.

    "This drives up compliance and costs and reduces stability for long term landlords causing some to leave the market. This in turn drives up rental prices through reduced supply."
    Really? Are speculators Landlords? They buy and sell - or buy, renovate and sell, when do they rent the property? Only when they can not sell - (not likely to happen often).

    Yes AirBnB is more popular now due to the increased rules, regulations etc on rentals and landlords.

    Yes increased population.

    cheers,

    Donna
    Last edited by donna; 26-01-2018 at 03:15 PM.
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  2. #2
    Join Date
    Sep 2008
    Posts
    7,332

    Default

    interesting

    after a bad run costing thousands due to tenants trashing the property

    am moving away from professional pm

    as their priorities seem to be

    1 - getting paid

    2 - keeping the tenants paying

    3 - getting my share to me

    5. ?

    6. ?

    7. ?

    8. - protecting my asset

    the asset is worth hundreds of thousands

    but it seems only the owner

    is thinking

    long term
    Last edited by eri; 26-01-2018 at 05:31 PM.
    have you defeated them?
    your demons

  3. #3
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,284

    Default

    Quote Originally Posted by donna View Post
    I found this article on Stuff - a summary of why the rental property market in NZ is drying up.
    "Property speculators, and to that matter accidental landlords, don't make good landlords as their intentions are not aligned for long term stable ownership which leads to poor tenant conditions, in turn leading to increased regulation and poor tenancy quality.

    "This drives up compliance and costs and reduces stability for long term landlords causing some to leave the market. This in turn drives up rental prices through reduced supply."
    Really? Are speculators Landlords? They buy and sell - or buy, renovate and sell, when do they rent the property? Only when they can not sell - (not likely to happen often).
    As I read the bit you quoted, a distinction was made between long term LLs and the other categories.

    Or am I mis-reading that item when it's a quote lifted from a larger item?
    Try Radenbrea Studios for hand-made designer jewellery. Especially if you're looking for a great gift for your lady love.
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  4. #4
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,284

    Default

    Same item was in Granny Herald, this morning. I read it at the local supermarket cafe.

    It was an acceptable attempt at analysing the problem[s]. I.e. it was not focussed on lambasting LLs.

    What I can't find out is whether Basel III (or its predecessors) was / is signed up to by the governments, or by each individual country's bankers assn. (or the like).
    Try Radenbrea Studios for hand-made designer jewellery. Especially if you're looking for a great gift for your lady love.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  5. #5
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    14,284

    Default

    Try Radenbrea Studios for hand-made designer jewellery. Especially if you're looking for a great gift for your lady love.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #6
    Join Date
    Jun 2005
    Location
    Nelson NZ
    Posts
    3,863

    Default

    Yes I read that article and posted my comment to it.
    My take is there is a change coming over the media. The penny has dropped. The articles are starting to ask questions as to why tenants can not find a rental rather than just blame someone.
    My input was to say I am very encouraged with the change.
    I made the point that every rental has a landlord and a tenant. If the problem is that there are not enough rentals then the answer is to provide more rentals not go round blaming people and shooting the messenger.
    I wonder how long it will be before the general public figure that the government and their servants at HNZ is not the answer to the increased supply.
    Multiple people in and out of power have suggested that the best way to fix the excessive demand is to stop people coming to NZ.
    I doubt that Jacinda and her cronies are so xenophobic that think all the new people are Chinese or at least Asian.
    No one in New Zealand wants us to revert to a whites only policy like the Australians used to have.
    There is not much chance of a significant drop in immigration so the only answer is to increase supply.
    We all need to be saying. "Excuse me sir.
    I think I can help solve your problem
    I am willing to provide more rentals.
    I am prepared to put my dollars on the line to do this."

  7. #7
    Join Date
    May 2004
    Posts
    2,595

    Default

    Quote Originally Posted by Glenn View Post
    .....
    There is not much chance of a significant drop in immigration so the only answer is to increase supply.
    We all need to be saying. "Excuse me sir.
    I think I can help solve your problem
    I am willing to provide more rentals.
    I am prepared to put my dollars on the line to do this."
    And the reply from sir will be? "Lovely, thank you. Just need you to comply with all these new regulations. Won't cost you much, honestly."

  8. #8
    Join Date
    Jun 2005
    Location
    Nelson NZ
    Posts
    3,863

    Default

    Quote Originally Posted by artemis View Post
    And the reply from sir will be? "Lovely, thank you. Just need you to comply with all these new regulations. Won't cost you much, honestly."
    And Mike Spilligan replied.
    Just jump into this nice warm sack while I get everything ready for you.
    Yes I know you are not bad jelly the witch.
    Are you by any chance related?
    Why do you keep smiling all the time my dear.

  9. #9
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,065

    Default

    I doubt that Jacinda and her cronies are so xenophobic that think all the new people are Chinese or at least Asian.
    No one in New Zealand wants us to revert to a whites only policy like the Australians used to have.
    There is not much chance of a significant drop in immigration so the only answer is to increase supply.
    It's not about colour or race, it's about the sheer numbers. We can't keep up. We need to reduce immigration from all countries I think.
    Squadly dinky do!

  10. #10

    Default

    On the AIR BNB thing............My tenant moved out of my large studio apartment November so decided to go Air BNB as I needed to redo the bathroom in the new year and then sell. It made sense as I was in a holiday town.

    I furnished it at very little cost as I had most stuff and borrowed some things off relatives such as lounge suite and fridge. The apartment is quiet nice, with own garden and I furnished it attractively.

    I was booked solid from Christmas till last week. Before then it was mostly just weekends and it seems to now be the same. Taking off extra power, water, and some items I bought (towels, mugs on special) I made probably an extra $500 more than my tenancy. It wasnt worth it. $500 for coming in and cleaning, changing linen, towels and then washing and drying. Couldn't go away because I had to be back for cleaning, etc. Had I employed a cleaner I would have made nothing, and would have been in deficit if I had to buy items to furnish the apartment. It was an interesting exercise.

    I learnt that there is a lot of competition on Air BNB so I had to compromise on my pricing to attract customers, and I had to remember that Air BNB stack their commission on to your rate too so the customer is paying more than what you advertise. I tried making bookings on weekends at least 2 nights but found I was not getting bookings except prime holiday weeks. When I altered closer to the weekend to 1 day then I got bookings. Not ideal as I still have to do the same amount of cleaning and changing linen/towels. Some people really left it messy while others were great. I couldnt judge a book by its cover as some people I hesitated at having (i.e. lack of ID and a photo of a boy racer car as their profile) were perfectly fine.

    Air BNB is definately a very easy tool to use and made that part easy. But I am not sure how people make more money than a tenancy? Maybe not for a studio apartment anyway.


 

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