• Login:
Welcome, Register Here
follow PropertyTalk on facebook follow PropertyTalk on twitter Newsletter follow PropertyTalk on LinkedIn follow PropertyTalk on facebook
Page 3 of 3 FirstFirst 1 2 3
Results 21 to 26 of 26
  1. #21
    Join Date
    Sep 2008
    Posts
    7,371

    Default

    ^

    afaik

    the expenses would be rates $1300? and bc $3000?

    and the lease amount would probably have been negotiated directly between the owner and hotel
    have you defeated them?
    your demons

  2. #22
    Join Date
    Jul 2005
    Location
    NZ
    Posts
    972

    Default

    Quote Originally Posted by Davo36 View Post
    Yeah but $400 pw gross. So they can just up the expenses and you still get f**k all.

    Interesting that you can negotiate you own lease deals though Aston. Not sure how you do that? Isn't there a lease in place when you come to buy it?
    Each of the apartments that I bought were not in the hotel pool. They were keen to get them in and I basically got what I asked for.

  3. #23
    Join Date
    Sep 2008
    Posts
    7,371

    Default

    ^

    yup this is what happened in ak too

    lots of hotels were built in the early 2000s with individual owners leasing back to the hotel under very favourable terms to the hotel

    in 2008 with the downturn in tourism after the GFC, many owners were left with very poorly performing "hotel investments" that would perform much better as standard rentals

    so 40%? of owners pulled their units out of the hotel pools

    this is actually how the system is designed to work and allowed most hotels to keep running on massively reduced occupancy

    (heritage hotel on hobson, couldn't honor their leases and folded, metro? in metropolis had so many owners leave they had to close, and the sebel hotel had a big court fight with owners who left the pool after the hotel tried to refuse them access to the entrance of the hotel....hotel lost)

    BUT 2014? tourism numbers started climbing again and the hotels, having to turn away guests due to insufficient rooms, started contacting owners who had left the pool and offering them MUCH better leases to get the rooms back........ again, how the system is designed to work
    Last edited by eri; 15-01-2019 at 08:19 PM.
    have you defeated them?
    your demons

  4. #24
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,107

    Default

    That's interesting eri.
    Squadly dinky do!

  5. #25
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,107

    Default

    Quote Originally Posted by Aston View Post
    Each of the apartments that I bought were not in the hotel pool. They were keen to get them in and I basically got what I asked for.
    Oh I see. Nice.
    Squadly dinky do!

  6. #26

    Default

    Quote Originally Posted by Nick G View Post
    My average is 8% nett.
    What sort of properties is that? Bought recently or held for a while?


 

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Buying a property leased to Housing NZ (HNZ ) : Pros & Cons
    By Randy in forum Property Investment (NZ)
    Replies: 8
    Last Post: 05-01-2019, 12:10 PM
  2. Pros and cons of borrowing jointly
    By cesami20 in forum Finance, legal and tax (NZ)
    Replies: 1
    Last Post: 16-08-2018, 02:41 PM
  3. Housing NZ Pros and Cons
    By gdj in forum Property Investment (NZ)
    Replies: 20
    Last Post: 15-11-2015, 02:13 PM
  4. The Pros and Cons of Going Section 8
    By RoyalRoseProperties in forum Property Investment (USA)
    Replies: 3
    Last Post: 03-12-2013, 08:56 PM
  5. cross lease pros and cons?
    By orangeskye in forum Finance, legal and tax (NZ)
    Replies: 20
    Last Post: 12-04-2012, 10:37 AM
  6. New company pros and cons
    By partya in forum Finance, legal and tax (NZ)
    Replies: 3
    Last Post: 28-09-2011, 11:58 AM
  7. 5 bedroom PIs - Pros & Cons
    By Shane D in forum Property Investment (NZ)
    Replies: 8
    Last Post: 24-05-2010, 10:48 AM
  8. Structure options: pros and cons?
    By Branca in forum Finance, legal and tax (NZ)
    Replies: 25
    Last Post: 10-02-2010, 11:27 PM
  9. Pros and Cons
    By susan_eg in forum General (NZ)
    Replies: 18
    Last Post: 22-01-2008, 10:59 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •