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  1. #11
    Join Date
    Jun 2005
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    My understanding was that the FTT changes to a Periodic at the end of the FT if nothing else happens (ie. notice of non-renewal not given and lease not renewed). If the lease ends and the correct notice is given, then the tenant moves out?

    So, isn't the answer, yes, if you can find a tenant willing to take the 9 months lease?
    DFTBA

  2. #12
    Join Date
    Oct 2016
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    231

    Default

    I would hope so

  3. #13
    Join Date
    Mar 2007
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    Under the proposals, the tenant would have the sole choice of accepting the fixed term termination date or staying on and allowing the tenancy to automatically become a periodic.
    The landlord would have no say in the matter - the choice would entirely be up to the tenant, who could stay on forever if they choose to do so.

  4. #14
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    Quote Originally Posted by flyernzl View Post
    Under the proposals, the tenant would have the sole choice of accepting the fixed term termination date or staying on and allowing the tenancy to automatically become a periodic.
    And I will be discussing, with the sitting tenant, the price variation policy our firm has on rent for fixed term contracts and periodic contracts.

  5. #15

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    Quote Originally Posted by Keys View Post
    And I will be discussing, with the sitting tenant, the price variation policy our firm has on rent for fixed term contracts and periodic contracts.
    Out of curiosity only, are you Ok to share that policy and your reasoning for the variation? Up until now I havent thought about this as most of my tenants are very stable long term, but with this new proposal may have to reconsider

  6. #16
    Join Date
    May 2008
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    3,691

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    Quote Originally Posted by Keys View Post
    And I will be discussing, with the sitting tenant, the price variation policy our firm has on rent for fixed term contracts and periodic contracts.
    Would your policy be something like:
    Fixed term: rent = current market rate
    Periodic term: rent = current market rate + $100
    ?
    Those who want to stay for life can pay a bit more for that certainty.
    This seems reasonable to me.
    And you simply increase the surcharge if you want to remove the tenant.

  7. #17
    Join Date
    Mar 2007
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    Auckland
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    Be aware that any tenant can apply to the Tribunal for a rent fairness assessment if they think that the proposed rent is markedly above current market and the TT could well Order a reduction.

  8. #18
    Join Date
    May 2008
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    I'm hoping that Keys has an answer to that point.

  9. #19
    Join Date
    Apr 2004
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    Auckland
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    What a nightmare.
    Stupid interference and over regulation of what should be a simple free market transaction.
    Better put the rents up some more for all the hassle.
    The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.

  10. #20
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    Quote Originally Posted by flyernzl View Post
    Be aware that any tenant can apply to the Tribunal for a rent fairness assessment if they think that the proposed rent is markedly above current market and the TT could well Order a reduction.
    Market rent, an interesting subject now.

    Like must be compared for like.

    No longer can you just source the advertised rental rate for a property and compare it's return to establish the market rent.

    For comparisons in market rent. Now, you must establish if the (compared) tenancy wanted a periodic contract, if the tenant had suspect credit history (premium on rent charged due to added risk factor), if the tenant had criminal history (increase in insurance premiums if allowed to reside there), how many residents in the compared tenancy. The criteria for market rent comparisons has just got more complicated.

    At the moment we we charging 15% more for periodic on renewal when tenants want to have periodic after a fixed term. Our first renewal on this basis has been successful.

    Look at S 78 (1g). We will be getting legal advice on the ability to have a clause in our contract stating that any criminal convictions not disclosed will result in termination pursuant to 78 (1g) We will offer the tenancy on the condition that a conviction check is conducted. The tenancy can continue if the applicant was honest with their application.

    Unintended consequences?


 

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