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  1. #1
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    934

    Default Rates Wellington up 17%

    Wellington City Council's rates freeze option forecasts a rates hike of 17 per cent in the 2021/22 year.
    https://www.nzherald.co.nz/property/...ectid=12323791
    Anyone looking at a 17% in increase in rental

  2. #2
    Join Date
    Jan 2012
    Posts
    1,142

    Default

    Quote Originally Posted by Beano View Post
    Anyone looking at a 17% in increase in rental
    The rates portion of your rent is 100% ??

  3. #3
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    934

    Default

    Yes on 6 of the properties the rates exceed the net rental I receive !

  4. #4
    Join Date
    Aug 2003
    Posts
    7,828

    Default

    WOW! And any chance of rates holiday in the meantime?

    cheers,

    Donna
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  5. #5
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,438

    Default

    It's ever-the-same with councils.

    Always increasing Rates, fees and charges;

    Never decreasing operational costs and holding Rates at or below CPI changes.

    Empire Builders all.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  6. #6

    Default

    Quote: While ratepayers may like the idea of a rates freeze, Infometrics senior economist Brad Olsen has warned it could "cripple economic recovery".

    Well, and what would he say about the counterproductive attitude when “spending other people’s money”?

  7. #7
    Join Date
    Jan 2017
    Posts
    14

    Default

    Quote Originally Posted by Beano View Post
    Yes on 6 of the properties the rates exceed the net rental I receive !
    So instead of increasing the net rent by 17% and extrapolating that to the actual rent, you'll just hike rent 17%?

    Rates p.a $2000 > $2340 ($340)
    Rent p.a $26,000 > $30,420 ($4,240)

    Definitely makes sense to cover an increase of $340 a year by charging an extra $4,240.

    Good luck with that btw.

  8. #8
    Join Date
    May 2004
    Posts
    2,902

    Default

    Wellington CC has a whole bunch of infrastructure issues that look to the interested bystander like deferred maintenance coming home to roost. Why?

    Not to worry, plenty of the reo and cycleways everywhere - both mainly unused - and the occasional rainbow pedestrian crossing. Yet we keep electing them.

  9. #9
    Join Date
    Sep 2004
    Location
    Hastings
    Posts
    15,438

    Default

    Quote Originally Posted by artemis View Post
    Yet we keep electing them.
    And yet the Ratepayers keep wondering why.

    Morons United.
    Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

  10. #10
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    934

    Default

    Quote Originally Posted by bmt View Post
    So instead of increasing the net rent by 17% and extrapolating that to the actual rent, you'll just hike rent 17%?

    Rates p.a $2000 > $2340 ($340)
    Rent p.a $26,000 > $30,420 ($4,240)

    Definitely makes sense to cover an increase of $340 a year by charging an extra $4,240.

    Good luck with that btw.
    I am thinking of actually reducing the rent to reduce the loss.
    Note these are carparks that recently I have been unable to rent .perhaps due to the covid-19 virus. Perhaps due to price .
    Anyway thee rates are more than the rent I receive.


 

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