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Accidental investors need to school up in the basics of being a landlord, or they risk capitulating in a weakened market, says author Andrew King.
King, who with Lisa Dudson, has co-written the new edition of Create Wealth: The Complete Guide to Residential Property Investment in New Zealand , says the slumping property market has created thousands of new landlords, and whether they sink or swim will depend on how quickly they learn the skills. (more…)
The following news item on HNZ’s successful court ruling enabling them to seek compensation from convicted P manufacturers who used one of their properties is excellent news for all rental property owners. However the key lesson to be learnt from this is that regular property inspections are essential.
If Housing NZ had conducted thorough and regular inspections of their property the damage would have been more limited. Although they have won the right to seek damages from non tenant perpertrators, there is still the problem of actually getting the money from them. (more…)
Landlords have developed their own set of rules, barring them from renting dirty places, telling lies or making racist remarks to tenants.
The national landlord membership and lobby group, the Property Investors Federation, has released a guide which it wants members to show to tenants.
Federation vice-president Andrew King said most members were already following the code. (more…)
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