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  1. #31
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    Quote Originally Posted by RTM View Post
    Yes. I am seeing it within my own family.
    And those new investors often already trust property. So the Retirement companies, VHP, PFI etc are probably going to form part of their investments that they are already comfortable with. So while they might be concerned about the sharemarket…..they may feel more confident with real estate sector of it.
    The end game is that there will be fewer and fewer rentals on the market and rents will go up as demand increases and supply diminishes. My end game is to go through this short term pain with my rentals to reap the increased rent rewards in 3-5 years time. This is not good for renters no matter how well intentioned by this govt.

  2. #32
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    Quote Originally Posted by macduffy View Post
    Doing one's property investment via the listed retirement village sector becomes increasingly attractive!

    That is what I have been doing since Ryman listed! I have seen so many people having issues with tenants including with close family similar to Beagle's difficult experiences.

  3. #33
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    Quote Originally Posted by blackcap View Post
    The end game is that there will be fewer and fewer rentals on the market and rents will go up as demand increases and supply diminishes. My end game is to go through this short term pain with my rentals to reap the increased rent rewards in 3-5 years time. This is not good for renters no matter how well intentioned by this govt.
    It may be good in making property available for first time buyers looking for owner-occupation?

  4. #34
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    Quote Originally Posted by Bjauck View Post
    It may be good in making property available for first time buyers looking for owner-occupation?
    It certainly will, as property prices may also fall as more supply comes on the market. Which will in turn drive up yields. So hopefully the market can balance things out. But its not going to be good for renters.

  5. #35
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    Quote Originally Posted by Beagle View Post
    I thought I would be pretty safe putting my own kids into our downstairs flat.
    Each of them made a big mess it in their own ways. I feel better though because damage / unpaid rent was in the very low 4 figures on both occasions.
    What I have seen many times from my clients is the single worst business strategy you can engage in is let your rental property out to your own kids.
    I have seen repairs and maintenance bills for several clients running well into five figures.
    The fact that the transaction is not an arms length business one, in a nutshell, they think they are entitled to get away with almost anything.
    If there's drugs involved, look out, you're really in trouble then and how do you put them out into the street and still sleep at night ?
    I second that. Never again

  6. #36
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by blackcap View Post
    The end game is that there will be fewer and fewer rentals on the market and rents will go up as demand increases and supply diminishes. My end game is to go through this short term pain with my rentals to reap the increased rent rewards in 3-5 years time. This is not good for renters no matter how well intentioned by this govt.
    But as we know we need more rentals ... the way its going future wise the Govt.(Taxpayers) will be building many more low cost accommodation blocks to put roofs over the heads of many thousands of kiwis that will rent for life
    People don't have ideas, ideas have people

  7. #37
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by iceman View Post
    I second that. Never again
    The "icing on the cake" was we only ever charged them half the market rate for the flat, (seems the decent thing to do for your own kids to help them get ahead) and they just squandered the money on other "essentials" like cigarettes', booze and drugs and when they moved out left the place like a rubbish dump. I never once heard a single word of appreciation for the very cheap rent but do recall quite a bit of attitude that we were charging them anything at all !
    No butts, hold no mutts, (unless they're the furry variety).

  8. #38
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    Quote Originally Posted by JBmurc View Post
    But as we know we need more rentals ... the way its going future wise the Govt.(Taxpayers) will be building many more low cost accommodation blocks to put roofs over the heads of many thousands of kiwis that will rent for life
    We need more houses/apartments/units. We need more secure, safe and healthy abodes for families. Whether these are owned by landlords or owner occupiers is as much a political decision/fiscal decision as anything else.

  9. #39
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    Quote Originally Posted by Beagle View Post
    The "icing on the cake" was we only ever charged them half the market rate for the flat, (seems the decent thing to do for your own kids to help them get ahead) and they just squandered the money on other "essentials" like cigarettes', booze and drugs and when they moved out left the place like a rubbish dump. I never once heard a single word of appreciation for the very cheap rent but do recall quite a bit of attitude that we were charging them anything at all !
    The entitled/no responsibility/want it and want it now/laden with debt generation, I'm hearing ya.

  10. #40
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    Quote Originally Posted by Beagle View Post
    The "icing on the cake" was we only ever charged them half the market rate for the flat, (seems the decent thing to do for your own kids to help them get ahead) and they just squandered the money on other "essentials" like cigarettes', booze and drugs and when they moved out left the place like a rubbish dump. I never once heard a single word of appreciation for the very cheap rent but do recall quite a bit of attitude that we were charging them anything at all !
    Did you manage to claim interest paid as an expense?

  11. #41
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    Quote Originally Posted by couta1 View Post
    The entitled/no responsibility/want it and want it now/laden with debt generation, I'm hearing ya.
    Yep a burgeoning climate crisis, student debt, mortgage debt (if they can afford to get on the ladder), ridiculously high deposits for pokey flats...they do have it tough. It looks like they will be saddled with mortgages even in retirement....unless they have a landowning family that has not disinherited them!
    Last edited by Bjauck; 21-11-2019 at 03:47 PM.

  12. #42
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by Bjauck View Post
    Yep a burgeoning climate crisis, student debt, mortgage debt (if they can afford to get on the ladder), ridiculously high deposits for pokey flats...they do have it tough. It looks like they will be saddled with mortgages even in retirement....unless they have a landowning family that has not disinherited them!
    Yes think we will continue to see a widening gap between the well-off and the struggling poor as costs to live continue to rise (Carbon taxes = higher energy costs etc)
    the ones with family wealth(debt free property ??) will pass it on to the kids giving them a huge Capital jump on peers with next to nil inheritance ...

    I know our two kids will do very well from us as we will get sizeable inheritance in time ---prob when we are in are 60's-70s and are kids will be only be in their 20's
    just the way it's working out for many children from the baby boomers that also had their children much later in life 30's+ Vs 20's etc..
    Last edited by JBmurc; 21-11-2019 at 07:19 PM.
    People don't have ideas, ideas have people

  13. #43
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    Quote Originally Posted by Beagle View Post
    The "icing on the cake" was we only ever charged them half the market rate for the flat, (seems the decent thing to do for your own kids to help them get ahead) and they just squandered the money on other "essentials" like cigarettes', booze and drugs and when they moved out left the place like a rubbish dump. I never once heard a single word of appreciation for the very cheap rent but do recall quite a bit of attitude that we were charging them anything at all !
    Seems like a bit of "spare the rod, etc" ……...ooops, we're not allowed to use it, are we!


  14. #44
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    Quote Originally Posted by blackcap View Post
    The end game is that there will be fewer and fewer rentals on the market and rents will go up as demand increases and supply diminishes. My end game is to go through this short term pain with my rentals to reap the increased rent rewards in 3-5 years time. This is not good for renters no matter how well intentioned by this govt.
    That's not what i'm seeing. The trend is more and tenants are being crammed into accommodations. Clear example is the house sold last year on my street; purchased by one of these 'investment property conglomerates where they pool individual investors to buy properties all over NZ'. For a 4 bedroom house, i'm seeing 8 parked cars (2 on the driveway, 2 on the grass by the driveway and 4 along the street). My guess there's at least 8 people living in the house which all appear to be university student age. The turnover of tenants moving in and out is like a train station. Oh and did I mention the brick mail box by the driveway has been ran over 2 times?

    In other threads in this forum, i've expressed that the NZ housing shortage is due solely on NZ's RMA being extremely restrictive to increase housing density in areas that need it most. Issues like recession plane angles (which are rarely an issue over in N. America) usually is a stopper for any multi-accommodation project. Even here in Christchurch CCC has a max restriction of no more than 6 bedrooms in a single dwelling complex.

  15. #45
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by fungus pudding View Post
    Did you manage to claim interest paid as an expense?
    We don't have a mortgage so no interest.
    No butts, hold no mutts, (unless they're the furry variety).

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