"Tenants will become customers and landlords "housing providers" under a new model of renting proposed by an investment fund.
Haven Funds has been founded to invest in residential property, with a view to letting it long-term. It is open to wholesale investors, whose money will be pooled to buy the properties."
https://i.stuff.co.nz/business/107471098/new-renting-model-replaces-tenants-with-customers
Given the current demands on residential landlords imposed by the Residential Tenancies Act (which this company cannot contract out of) and the reality that any tenant can depart from a tenancy with just 21 days notice, I give this concept little chance of succeeding.
There have been a number of similar proposals in NZ over the last thirty years. All have eventually failed for just these reasons.
The Hobsonville Development Company announced they were going to do a similar thing from last year.
Nothing has been heard of that proposal since - I suspect that reality has scuppered their plans.
Haven Funds has been founded to invest in residential property, with a view to letting it long-term. It is open to wholesale investors, whose money will be pooled to buy the properties."
https://i.stuff.co.nz/business/107471098/new-renting-model-replaces-tenants-with-customers
Given the current demands on residential landlords imposed by the Residential Tenancies Act (which this company cannot contract out of) and the reality that any tenant can depart from a tenancy with just 21 days notice, I give this concept little chance of succeeding.
There have been a number of similar proposals in NZ over the last thirty years. All have eventually failed for just these reasons.
The Hobsonville Development Company announced they were going to do a similar thing from last year.
Nothing has been heard of that proposal since - I suspect that reality has scuppered their plans.
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