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Ryan Smuts: Interest rates are on the up

Interest rates are starting to track up leading to significant cost implications for property investors. Some specific issues to be mindful of: 1. Why are interest rates going up? Interest rate markets are already pricing in a 90% chance of a rise to the OCR in August! The recent RBNZ comments around the Large Scale Asset Purchase (effectively money printing) are also infl...
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{{name}} - APIA Auckland Property Investors

Kelvin Davidson: There’s never a dull moment in the property market

Over the past month the property market has remained at the forefront of news headlines, so here’s an important reminder of recent key points: Property values are still rising rapidly – in May they were more than 20% higher than a year ago (on the CoreLogic House Price Index) However, there are hints that sales volumes are starting to cool, due to previous measures s...
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{{name}} - APIA Auckland Property Investors

Affidavits and witness testimony necessary to substantiate an anti-social behaviour claim

RE early termination for severe hardship on account of the tenant’s persistent anti-social behaviour Landlords should not presume to be able to rely on letters or unsworn statements to substantiate an anti-social claim. Background in brief The tenancy in question is a single occupant fixed term tenancy at an Auckland CBD apartment. The building is controlled by a body corporate and employ...
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{{name}} - APIA Auckland Property Investors

You are about to be robbed. Put a stop to it.

After failing to pass The Residential Tenancies Amendment Bill through the standard legislative process, Hon Chris Hipkins, Leader of the House, made the extraordinary announcement last week that he would move to pass this bill into law under urgency on Tuesday 4th August just before the 52nd Parliament dissolves. This is a widely unpopular bill. 82% of New Zealanders opposes its sig...
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{{name}} - APIA Auckland Property Investors

218-1 Delayed: A stay, not a pardon

An update on 218-1 The Residential Tenancies Amendment Bill: the deadline for the Social Services and Community Select Committee to report back to Parliament has been pushed out from late June to 13th July. We look at what this means for landlords and where to from here in terms of our collective lobbying efforts. Background On the first week of the lockdown, the Ministry of ...
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{{name}} - APIA Auckland Property Investors

COVID-19 termination rules recap & a reminder for would-be vendors

As investors grapple with the economic effects of COVID-19, some may consider deleveraging by selling off a few under-performing properties. If these properties have tenants in situ then it is advisable for would-be vendors to be well aware of the new tenancy termination rules and plan well in advance. Tenancy termination during COVID-19 We specifically refer to the rules und...
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{{name}} - APIA Auckland Property Investors

Say NO! to 218-1

218-1 The Residential Tenancies Amendment Bill proposes to introduce sweeping changes that will, in our view, significantly impact the business of landlording. In fact, according to the REINZ, 82% of New Zealanders oppose the Bill's signature proposal to abolish the landlord's ability to terminate a tenancy with a 90-day notice. The public has until 25th of March 2020 to submit again...
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{{name}} - APIA Auckland Property Investors

Associated person - there is no there there

Some concerns have been raised about the application of the associated person rule (APR) vis-à-vis 218-1’s infringement offence regime. More specifically, how the rule interacts with the two-tiered penalty system that fines landlords with 6 or more tenancies twice the amount of what it would a landlord with 5 or less. We are aware of some interpretations out there suggesting that...
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{{name}} - APIA Auckland Property Investors

PSA: 218-1 is a bad bill!

The verdicts are in. 218-1 The Residential Tenancies Amendment Bill a bad piece of legislation and it is in dire need of being saved if it ever stands a chance at doing any good. The brief, the government intends for 218-1 to achieve the following objectives: Improve security of tenure; Empower tenants within their rented homes, the rental market and the rental system; and ...
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{{name}} - APIA Auckland Property Investors

Fact-checking 218-1

Every since 218-1 The Residential Tenancies Amendment Bill was released, there have been several statements made in an effort to summarise the effects of the Bill. Some statements are true, some are too broad-brush and should be qualified while others are entirely false. We've put together this quick fact-checker to held landlords understand 218-1 better: On the effects of the Bill ...
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