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Landlords face rhetoric of abuse as rents continue to soar


Landlords face rhetoric of abuse as rents continue to soar
30 Apr, 2021 07:00 PM
6 minutes to read
Some landlords say they are facing abuse as rents continue to rise in the region. Photo / Getty Images
Some landlords say they are facing abuse as rents continue to rise in the region. Photo / Getty Images
Rents throughout the Bay of Plenty region have skyrocketed but landlords say the abuse they have faced due to the housing crisis is appalling .
One property investor felt like a modern-day witch and said she
would have sold up if it weren t for her great tenants. And she is not alone. ....

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Housing affordability rule changed tipped to spur surge in commercial property


House prices have been skyrocketing across New Zealand over the last year.
Recent changes to rules around owning residential property may see investors swapping to buy commercial property instead, a New Plymouth commercial real estate agent says.
Colliers International agent Benet Carroll​ said some residential investors were selling up and swapping their focus to the commercial sector, which was not affected by new Government policies to make housing more affordable.
The changes targeted investors buying and selling residential property and extended the “bright line” test from five years to 10 years, meaning investors pay 39 per cent tax on profit from an investment property sold within 10 years of the purchase date. ....

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Southland rents may rise in wake of Government housing policy changes


Interest deductibility is a usual cost of doing business usually afforded to all businesses, but now doesn t 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.
”They have to. Investors operate as a business and the aim of any business is to make money,’ she said.
She expected some investors to sell their properties because they were unable to afford to keep them. ....

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