It doesn’t take long to find a horror story about renting a property. Look in the right place and you find plenty. Better yet, get out and about and have a chat with as many tenants as you can and you can almost guarantee that you’ll hear some outrageous stories about the way they were treated by their local property manager.
Property investment isn’t really worth the headache when you think about it. You sink a pile of cash into the property purely for your tenant to punch a hole in the wall, cook meth and never pay rent.
What’s the point? Is it all worth the stress in the long run? Are there any property investors out there who can really ditch the day job or is it all just one big fairy tale?
The truth is, it is possible to create huge wealth through property investment. 🏘️💰
Recently, we tried to get in touch with some of our landlords...
Unfortunately, no matter how hard we tried we couldn’t. Their phones rang and rang and their emails weren’t checked.
It turns out our landlords were overseas, dodging taxes and sitting on a beach somewhere counting their money.
Apparently, there was quite a lot of money to count so it took a long time for them to get back to us.
The future is coming. Property management is finally being dragged out of the dark ages. 🔮
At a recent conference held in Taupo for the New Zealand Realtor’s network of property managers, our team was able to discuss with some of the leading property management agencies across the country, the changing face of our industry.
Warning: This article contains elements of self-promotion.
It is no secret that Wellington’s rental market has been a hot media topic of late.
With rents rising 6.8% from January 2016 to January 2017 attention was inevitable.
However, there are now calls from some quarters that finding tenants is more difficult and that investors should lower their rent or face up to four-week vacancies.
In Auckland, there are 1,805 listings advertised on popular rental search sites whereas Wellington has only 570.
Topics: property management
With Wellington’s rental market as hot as ever, there is no doubt that investors will be jumping for joy. The rental market in Wellington has risen 6.8% in the past twelve months and indications are that the market shows no signs of slowing down. With the influx of students descending on us, and a larger portion of people renting for longer before buying their fi rst home, it is no surprise that demand is outweighing supply. Needless to say, landlords across the capital are moving with the market and adjusting rents as new tenancies commence, with the average price in Wellington now rapidly approaching $500 per week. Irrespective of whether you are investing for the first time or are a seasoned investor, the landscape is changing. The role of managing property is now becoming more and more regulated.
The well headlined requirement of landlords to install insulation by 1st July 2019 being but one example of this. However, not all legislation requires costly modifications for landlords. A ground-breaking case could be precedent setting and put more emphasis back to the responsibility of tenants. The long-awaited verdict of ‘damage by dog urinating’ appeal case has been revealed and landlords and property managers nationwide have recorded a win.