Page 14 - Tenancy Services News Today

Price for rentals hits new all-time high Newshub 3 hrs ago Dan Satherley © Video - Newshub; Images - Getty Related video: Growing hesitancy in the housing market as fear of missing out gives way to fear of overpaying. The median asking price for a rental increased 6 percent in the year to March, new data from Trade Me shows. Its the highest year-on-year increase since 2018, and the figure - $540 a week - is the equal-highest on record. "Were not seeing any let-up in the for...

4 hours ago Related video: Growing hesitancy in the housing market as fear of missing out gives way to fear of overpaying. Credits: Video - Newshub; Images - Getty The median asking price for a rental increased 6 percent in the year to March, new data from Trade Me shows. Its the highest year-on-year increase since 2018, and the figure - $540 a week - is the equal-highest on record. "Were not seeing any let-up in the foreseeable future either - demand is high and supply isnt keeping up," said T...

Interest deductibility is a usual cost of doing business usually afforded to all businesses, but now doesnt apply in property. Data provided by Tenancy Services showed the median market rent in Invercargill from September 1, 2020 to February 28, 2021 was $500 a week. It was $325 a week in Winton and $300 a week in Gore. Southland Property Investors Association president Irene Leonard said changes to the interest deductibility rules meant rents would inevitably rise as a result of the changes...

An initial period of information gathering had confirmed that large amounts of information was being collected from prospective tenants. Edwards’ office was now moving to more targeted engagement to better understand current practices and business models in the rental accommodation sector. The meetings with representatives of tenants, landlords, property managers and related businesses would inform their review of collection, use and disclosure of personal information in the sector, and o...

Do you know your rights as a tenant? Dont worry, weve got it covered. It’s exciting to be a first-time tenant but there’s a lot of important information you need to know before moving into a rental. So here’s a guide for newbies on the rental scene. Pinning down a new home Finding a rental is much harder now than it used to be. But that shouldn’t prompt you to commit to paying more than you can afford, or providing more information than you have to, in a bid to secure a property. I...

Early exit from tenancy agreements see renters handed expensive bills 3 Mar, 2021 10:49 PM 5 minutes to read Consumer New Zealand say its outrageous to charge so much but property managers say theyre just following the rules. Photo / File Consumer New Zealand say its outrageous to charge so much but property managers say theyre just following the rules. Photo / File RNZ Tenants wanting to exit a rental early are being loaded up with high fees from property managers and landlords. Renters advoca...

Wednesday, 3 March 2021, 8:49 am Chris Ross and Tom Peters,  On February 25, New Zealand’s finance minister Grant Robertson took the unusual step of instructing the Reserve Bank to “take into account the government’s objective to support more sustainable house prices” and affordability when setting monetary policy. The statement directed to the central bank is an empty gesture, which will do nothing to halt out-of-control housing prices and rents. It indicates growing alarm in ruling...

ROBERT KITCHIN/STUFF Judith Collins and Jacinda Ardern talk about the new tenancy laws expected to pass this week. (Video first published August 4, 2020) A group of Wellington students signed a $1040 per week lease for a four-bedroom flat, only to find one of the bedrooms was also the lounge. Third-year law and psychology student Emily Cooper, 20, and her three flatmates signed the lease and handed over a $4160 bond sight-unseen because they were working full time in Auckland over the summer. ...

The man’s experience is an example of how tough times are for many over 65s trying to live off the pension, with no other income. In 2020 there were 795,000 superannuation beneficiaries in New Zealand; this year the Government is expecting 826,000. Superannuation expenses are forecast to increase $969 million dollars in 2021, to $16.490b. Superannuation is forecast to cost $20.625b in 2025. Superannuants who live alone take home $847.66 a fortnight and couples take home $652.04 each a for...

ROSS GIBLIN/STUFF Nikki Prier and her 15-year-old son Cole were given a 90-day eviction notice from their three-bedroom house in Wainuiomata, where they have lived for seven years, the day before rental laws changed. A Wainuiomata mother and her son face eviction and homelessness following major changes to tenancy laws. Nikki Prier and her son, Cole, were served notice to leave their home of seven years the day before laws changed to ban no-cause evictions. Stuff has spoken to dozens of tenant...