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  1. #41
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    Quote Originally Posted by Perry View Post
    Shammy ignores the wage / price gap and instead blames the "baby boomers."
    Also conveniently ignores his constant articles which he wrote stating that renting was financially better.

  2. #42
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    Sep 2004
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    Right, Keys!

    Herewith, Shammy spouts some more:

    New Zealand wages growing after 9 pathetic years, but it feels like the last hurrah
    11 Nov 2019
    Quote Originally Posted by Shammy
    Even though inflation has been low, everyday living costs have been rising at a faster rate. Especially the cost of anything housing-related, be it rent, insurance, rates or maintenance. Energy costs, both fuel for cars and electricity for the home, have also been increasing faster than incomes.
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  3. #43
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    Mar 2007
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    Auckland
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    Quote Originally Posted by Keys View Post
    Also conveniently ignores his constant articles which he wrote stating that renting was financially better.
    The bit he left out was 'renting was financially better - if you rented from your Auntie.'

  4. #44
    Join Date
    Apr 2018
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    216

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    OP I dont get this feeling, but I do think long term tenants are worth holding on to, if you price them out of the area they will just up and leave,

    I think its simply a case of not pricing people out and if you have 5 years of full occupancy vs constant 4 month vacancy I think it makes sense to be the smarter landlord not the greedy one

    I find this housing shortage to be a load of stats rubbish. Tenants have a lot of properties to choose from. If they build that train line from Hamilton, whoopah, empty Auckland as tenants move to small towns paying 1/4 the rent of Auck.

    Not all land lords are in it to squeeze out every cent and there are still plenty who treat the tenant with respect as they are paying off their mortgage or providing them an income.

    I think the problem is due to housing prices people get into IPs owing too much money and try to pass on this anxiety to the tenant in the form of 6 month reviews.

    Also keep in mind its cheaper to buy in some instances. $500 mortgage will get you a propety near the beach. You will lose the 10 min commute and it will become 35-45 minutes, but at least you dont have the anal land lord down your neck every 6 months and you are spending $180 less minus $40 transport per week.

    Plenty of tenants are landlords and will object to somebody being overly anal/greedy.

    Just trying to point out why its a good idea to be a passive landlord and not a knob (from a tenants perspective) just because you bought the property. Somewhere in the middle always wins.

    So many factors to consider to being good to your tenants but also not missing annual rent increases, also what happens in a decrease, do you drop the rent? No. So it all works out fair in the end.
    Last edited by OnTheMove; 12-11-2019 at 02:52 AM.

  5. #45
    Join Date
    Apr 2018
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    216

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    Quote Originally Posted by Davo36 View Post
    Never mind all the increases in costs and the new BS rules coming like having to allow pets etc.

    And of course people see housing as a basic right (I agree with them) just like your loaf of bread etc.
    Yeah agree re pets, wtf. I do think insulation and heating should be much strict than just being able to stick a plug in wall heater that does nothing. Thats not right. But Pets, what about tenants being allergic to pets, a carpet cleaner wont pick all the folicles of hair up.

    Yes I agree it is indeed a right. This country would be worthless if we didnt have basic human rights, although its going to dogtown with more immigrants imo. And these dodgy divisions of 1 bedroom apartments into 2. Thats so not NZ or what we are about.

    Rights of tenants imo should never be forgotten and Kiwi's should maintain our standard of living not buckle to living like a 3rd world country..

  6. #46
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    Somewhere in amongst all this, is there not room for 'market forces?'

    Why pay 50% more for a loaf of bread at the petrol station, than the supermarket?

    Perhaps because it's convenient?

    Convenience comes at a price.
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  7. #47
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    Apr 2004
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    Auckland
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    It isn't greedy landlords putting up rents. It's the greedy government. Remove all the rent subsidies and guess what happens? The cost gets passed on. Remove negative gearing - and guess what? Rents going up big time again.
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  8. #48
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    Sep 2004
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    Not to mention the expense of installing things most of which will never get used.

    See Peter's comments, here.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  9. #49
    Join Date
    Mar 2007
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    Auckland
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    Quote Originally Posted by OnTheMove View Post
    Also keep in mind its cheaper to buy in some instances. $500 mortgage will get you a propety near the beach. You will lose the 10 min commute and it will become 35-45 minutes, but at least you dont have the anal land lord down your neck every 6 months and you are spending $180 less minus $40 transport per week.
    Sounds fine, until the bills for rates, insurance and maintenance turn up. At that point many realise that there is more to the cost of home ownership than just the mortgage.
    I have actually met people who have no idea that you need to insure a house, and of course no idea how expensive rates can be.
    Add $100 - or more - each and every week onto the mortgage costs to find the real cost of property ownership.

    Quote Originally Posted by OnTheMove View Post
    Plenty of tenants are landlords and will object to somebody being overly anal/greedy.
    Plenty of landlords are actually paying more in the cost of ownership than they are getting in rent.
    Add in the loss of interest on the equity that they might get elsewhere, the interest on the mortgage, the overheads (rates, insurance, etc), the cost of maintenance and a renovation every five or ten years, and a margin for time and risk. Very few landlords are getting a reasonable return for all of that.

    And dont drag up the chimera of capital gain - do you expect a supermarket to sell groceries cheaper because the value of their building has gone up?

  10. #50

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    Quote Originally Posted by OnTheMove View Post
    OP I dont get this feeling, but I do think long term tenants are worth holding on to, if you price them out of the area they will just up and leave,

    I think its simply a case of not pricing people out and if you have 5 years of full occupancy vs constant 4 month vacancy I think it makes sense to be the smarter landlord not the greedy one

    You're right a good tenant has great value. I currently have a large number of great tenants in my properties. The challenge is that whilst they're great tenants some are paying well below market rent.

    In all reality some of these tenants can't afford the market rent for their property so by keeping rent below market are we helping or just delaying the inevitable?

    - In the event that I sell the property the incoming owner is almost certainly going to raise the rent to market levels

    - As rates and insurance rise i'm going to need to recover these costs OR my investment return goes backwards (or my losses increase)

    As a tenant, if you can't afford market rent in a location you need to consider your long term plan for living in that location. You can't rely on the charity of the landlord to support your lifestyle


 

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