NZ 1st homebuyers are ScReWeD...

[thegreatestben]

I've got two new builds I developed, I rent and manage them myself. I can tell you the two things that are setting the rent I'm asking is interest rate and shortly behind is insurance and rates increases. I'm about to refix and I'll be topping them up more per week than the rent one of them brings in per week.

If landlords have less pressure on cashflow they have less pressure to raise or have "high" rents, most of us want to retain good tenants well ahead of squeezing every last dollar out of them.

[Aaron]

I've got two new builds I developed, I rent and manage them myself. I can tell you the two things that are setting the rent I'm asking is interest rate and shortly behind is insurance and rates increases. I'm about to refix and I'll be topping them up more per week than the rent one of them brings in per week.

If landlords have less pressure on cashflow they have less pressure to raise or have "high" rents, most of us want to retain good tenants well ahead of squeezing every last dollar out of them.

Good on you, I must sound like an ahole complaining about landlords. Good tenants make it easy, I had tenants that must have thought I was a wealthy landlord so stopped paying rent for a few weeks over christmas every year, very stressful, by the time they caught up it was christmas again. Ended up in arbitration/court, fortunately they were sort of genuine and paid it all eventually.

I hope you managed to add some value/gains over and above the cost of the new builds, I understand a few years back building costs were rising so fast builders were losing on fixed price contracts and if it wasn't fixed price I guess the planned cost of the investment blew out.

What gross and net rental yields do you work on if you don't mind me asking?

I think locally our rates are about to go through the roof in the next year and insurance has already risen significantly.