KPG - Kiwi Property Group Limited

[Habits]

Wow . Government overturns lease agreements to force landlords to reduce the rent to a “fair” amount and the shares go up.

Justice Minister Kris Faafoi says the law change would require landlords and tenants to agree on a "fair" amount of rent during Covid-19 restrictions. If unable to agree, they would be required to go to arbitration.
https://www.stuff.co.nz/business/126...cid=app-iPhone

Is this even relevant anymore with level 4 lockdowns all but ruled out completely... should have been during first lockdown 18 months ago imo in terms of the general market. Some commercial landlords refuse assistance unless it is genuine and not for handouts. Am pretty sure that KPG already treated all of their mall tenants equitably over that time

[Beagle]

Is this even relevant anymore with level 4 lockdowns all but ruled out completely... should have been during first lockdown 18 months ago imo in terms of the general market. Some commercial landlords refuse assistance unless it is genuine and not for handouts. Am pretty sure that KPG already treated all of their mall tenants equitably over that time

I think they're looking at the impact on all alert level's above 1.

[Habits]

I think they're looking at the impact on all alert level's above 1.

It is quite stupidly sick how the govt handed out the 2020 wage subsidy assistance, then Cindy names and shames The Warehouse, followed by mandated "forced" rent discount regardless of whether or not the landlord can afford it or if the tenant benefits from pentup demand. We are being governed by school children

[Waltzing]

10 yr moving up. Be interesting to see if it hits the CP's in A NZ...

how will the Billy T James 3 Waters government take over effect development of new suburbs and projects for large scale commercial property developers.

Any impact on costs and speed of development?

[Habits]

Im sorry but connecting BTJ and this govt is bloody insulting to the memory and stature of the man... laurel and hardy govt yes. If nothing else I would hope they speed up infrastructure development, they have already given Drury fast track RC

[DazRaz]

So if a commercial landlord has to drop rents during a lock down by over 30% they could then become eligible for a government subsidy.

[Shareguy]

So if a commercial landlord has to drop rents during a lock down by over 30% they could then become eligible for a government subsidy.

Yes they can claim the wage subsidy but not resurgent subsidy. My understanding is that a lot of landlords have reduced by 50 percent, including myself.

[fungus pudding]

Yes they can claim the wage subsidy but not resurgent subsidy. My understanding is that a lot of landlords have reduced by 50 percent, including myself.

What dictates that you 'have to' drop rents? Is it in the lease - is it a voluntary discount (as I gave my tenants) or it just a bad debt if the tenant doen't pay? What if she doesn't pay because she can't?
(What percentage of commercial landlords have wages to pay anyway?)

[Beau]

So if a commercial landlord has to drop rents during a lock down by over 30% they could then become eligible for a government subsidy.

Yes fully agree with that Commercial rents were excluded from claiming but now they should be entitled to Resurgence payment / Wage subsidies. But who would know whether they would include Commercial rentals after all they are running a business trying to get by like any other. Why should Government get involved when it should be up to individual situation to sort after all some tenants are doing nicely at the moment and not disputing that a lot aren’t.

[Waltzing]

"BTJ and this govt is bloody insulting to the memory and stature of the man"

well you mean this add was really no where near good enough for a BTJ skit?

a really poor version of a BTJ skit then? like in the muppets ... Booo.. terrible terrible...

Add not up to the standard set by BTJ? Ok where can i get those reruns. Ask for some reruns on Jones?

Point Taken.