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NZ Property Investor December 2019

The New Zealand Property investor magazine provides readers with information you can use to successfully invest in residential property. You can learn from the experts, read the stories of your fellow investors and keep up to date with the latest house prices and rental statistics.

New Zealand
NZ Property Investor Magazine Ltd
12 Issues

in this issue

2 min
battling on

They’ve been a long time coming. Over the many months of waiting, dread and concern has been building. Now they are here and property investors are up in arms, their worries proving well-founded. What are they? They are, of course, the final form of the Government’s tenancy law reforms, which were announced just before this issue of the magazine was sent off to print. But, for many investors, they are more than simply an attempt to make life better for tenants. They also represent another official effort to make the business of being a landlord harder. The proposed changes join the rest of the Government’s suite of policies intended to improve the rental market. These include the banning of letting fees, the introduction of the Healthy Homes minimum standards and the new…

2 min
bad rta news for landlords

Associate Minister of Housing Kris Faafoi recently announced a suite of changes to the Residential Tenancies Act. For landlords, the most concerning of them is the removal of a landlord’s right to use 90-day, “no-cause” terminations to end a periodic tenancy agreement. While anti-social behaviour and rent arrears will still be cause for eviction notices, it is proposed that landlords will have to apply to the Tenancy Tribunal in such cases. Other changes include limiting rent increases to once a year, banning the solicitation of rental bids by landlords, and allowing tenants to make minor changes to rental properties like babyproofing and hanging pictures. Additionally, financial penalties will be increased and new tools to take direct action against people not meeting their obligations will be introduced to improve compliance with the law. Faafoi says that…

1 min
westpac tackles turnaround times

The bank will now process applications, to the conditional stage, at its central mortgage operations unit. After that, loans will be sent to a local branch for completion. Staff members at Westpac branches will take on the customer relationship and become the adviser/customer’s point of contact. The bank hopes the system will forge closer links between advisers and its branch network. Speaking at the recent TMM Better Business Conference, Westpac business development manager for third party banking Tania Ropati said they had made the changes over the last few months. “Advisers and customers will need to deal with that person [at the branch] directly. If you have a sale and purchase agreement signed off, it will have to go through the branch and the contact person for assessment. “The goal of this is to improve…

2 min
one week builds

Wanaka company Nautilus Modular produces interchangeable modules that are easily assembled to form high-quality, liveable buildings faster and more efficiently than other construction methods. Founder and serial entrepreneur Peter Marshall, who was also the co-founder of Eftpos NZ, says the technology offers an accessible and sustainable solution to the nationwide housing shortage. “It is an alternative to conventional building processes, which are often time-consuming and dependent on external factors, such as weather and the availability of labour,” he says. “Off-site manufacturing is an extremely efficient method of construction and we believe there is considerable benefit in the rapidness that modules can be produced, transported and installed on site to form a liveable building.” The system produces modules in a factory using a special mould. The modules are then transported to a site where they…

1 min
landlords.co.nz  top five – november

1 Changes to RTA announced The Government announced its long awaited tenancy law reforms on Sunday and they mean that landlords will no longer be able to get rid of tenants without reason. 2 Smaller properties better rent growth Two-bedroom properties and central city apartments are seeing the strongest growth in rents in the Auckland region, new Barfoot & Thompson data reveals. 3 LVR loosening likely - ANZ LVR restrictions were never meant to be a permanent feature of New Zealand’s housing market and ANZ economists argue that some further relaxing of them could soon be on the cards. 4 More than fair wear and tear Proving tenant liability for damage has long been a major worry for landlords but a recent Tenancy Tribunal ruling shows that it can be done. 5 Low property…

2 min
heating fix

Heat pumps moved firmly into the spotlight with the enshrining in law of the Healthy Homes minimum standards earlier this year. While rental properties don’t have to have a heat pump, they are widely considered to be one of the more effective ways of meeting the new heating requirements. But they can be expensive to install, fix and replace and that’s something landlords will need to think about going forward. This issue is highlighted by a recent Tenancy Tribunal decision which revolved around a broken heat pump – and did not end well for the landlord. A group of Wellington tenants took their landlord, Lifestyle Rental Properties Ltd, to the Tribunal after they discovered the heat pump in their rental property didn’t work. Before heading to the Tribunal, they had informed their…