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  1. #51
    Join Date
    Oct 2013
    Posts
    1,706

    Default

    Any reduction in rent (or indeed, failure to increase rent in line with the market) is charity on your part, given to your tenants.

    If you're in the position to be charitable and have the desire to do so, that's excellent and I'm very happy for you. You then need to decide where your charity is best targeted. Are your current tenants the best focus for your goodwill? Perhaps! But you do need to think about it.


    I am personally not planning to reduce any of my rents - though I will of course freeze rents for at least the six month period that is legally mandated. Tenants having virus related difficulties should be supported by our government. I understand their broad-based lockdown/control plan does give some measure for this.

    In saying this, I don't presently have any excellent long term tenants, with quite a bit of turnover in the last 12 months across my portfolio. Perhaps if I had a nice family who had been great tenants for several years I might think differently.
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  2. #52

    Default

    Well said Anthonyacat

  3. #53
    Join Date
    May 2004
    Posts
    2,901

    Default

    Agree, better to leave to the government as they have the processes in place to determine support levels. Landlords don't.

    Meantime I have offered some tenants payment to do some extra gardening while they are at home. Another is a tradie and can do some simple property maintenance.

  4. #54
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,422

    Default

    Spare a thought for the many back-packers and tourists who really do not have a home to go to in NZ for the 4 weeks mandated.

    After a last minute bus-ride dash from Auckland to Hawke's Bay, we're now 'sheltering' one young fellow in an empty cabin on the proviso that the 14-day self-isolation requirement is adhered to. After that, we can socialise.

    He's told us that his parents in Europe are greatly relieved.
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  5. #55
    Join Date
    Aug 2003
    Posts
    7,825

    Default

    Well done Perry. It's a very stressful time for everyone. Not sure if anyone noticed but did you see that the lockdown is for a number of weeks - i.e. after 4 weeks an assessment will determine whether it will continue as level 4 or drop back to level 3. I think just 4 weeks at level 4 might be optimistic.

    cheers,

    Donna
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  6. #56
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,422

    Default

    The possibility of level 4 for longer than 4 weeks is a horrible spectre, isn't it?

    The initial four weeks encompasses Easter, too.

    Another blow for the tourism industry.

    No Easter Sales for retailers, either.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  7. #57
    Join Date
    May 2004
    Location
    Christchurch
    Posts
    589

    Default

    It may be time to introduce some of your more unreasonable tenants to the economics of owning the rental. Agree to waive rent left over after expenses are paid. They might get a shock to see that they owe you.

  8. #58
    Join Date
    Jan 2012
    Posts
    1,142

    Default

    Anyone else noticed that the "4" in "4 weeks" has disappeared from all official publications.

  9. #59
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,422

    Default

    Shock! Horror!

    You can't be suggesting that the W'gton woodenheads were not totally open and honest with their employers, are you?

    Say it isn't so, Cindy Tooth Fairy.
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  10. #60

    Default

    So far have only had 1 (of my 7) residential tenants request a rent deferment - they are proposing to pay 50% and work out a scheme to repay remainder once his job comes back (works in hospo poor bugger). I have agreed to this but wonder if I should be asking for some documentation that his employer was refusing to pay any wages (he is already applying for the Subsidy part) - do others think that is reasonable? Legal?


 

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