First Time Buyer? Consider these 7 Things First

First Time Buyer? Consider these 7 Things First With no doubt, buying a house is a great expected to be the biggest purchase of life for New Zealander. New Zealander always dream of having their own house whether that is a city apartment, a simple house in the suburbs or a plot of land in the country. In the context of buying a house, you may have well-thought-out of how many bedrooms you want, is there any parking lot available, and what your neighbourhood should be like. Since buying a house is a big deal, we, Metro nz Properties Management,

Read more

HOW DOES THE TENANCY APPLICATION PROCESS WORK?

Dearest reader, This is a relevant post for first time tenants, landlords and anyone who is involved with renting a place to be called home. Renting can be a very exciting thing and it is where the market trends for property management is heading. Metro NZ Property Management knows that renting gives the tenant more flexibility to do as they please when it comes to travelling, choosing a new home and with the current housing situation, the main option for most part of the population. If buying a property isn’t on your priority list just yet, Metro NZ Property Management

Read more

Things you need to know when you are buying or selling property

Retrieved from Stuff.co. nz, written by Kevin Lampen, Chief of Real Estate Authority Metro NZ Property Management is licensed under REAA 2008. We can sell real estate and help people to buy. We can also help investors to manage property. We always present and process deal in a fair way that makes vendor and buyer happy. It’s a big decision to either sell or buy a property. There are many things you need to be aware before you signing up with an Agency. At Metro NZ Property Management, we always advise our client to take the Agency Agreement, or Sales

Read more

Why You Should Use Property Manager? Because They Have Tools That Private Landlords Can’t Access !!

Kiwis have the nature to DIY things themselves and they often do a good job. In regards to property management, Kiwi owners prefer managing the property by their own. However, having a right property manager from Metro NZ Property Management will be a big asset to your portfolio.  Metro NZ Property Management Managers are skilled and knowledgeable about property industry especially with the Managing Director Frank Rangi who has over years of experiences.  At Metro NZ Property Management, we are either property investors, or property graduates, or sometimes, both. We understand the legislation, and most importantly, understand your needs. The

Read more

Advantages and Disadvantages of owing rental property

Here we provide a rundown of some Advantages and Disadvantages of owning rental property and give you a few tips on how to turn a profit by signing up with Metro NZ Property Management. Advantages The advantages of rental real estate are quite substantial. When you own real estate, you own a tangible asset. You can do many things with property. You can paint it, renovate it, add value to it, and use it as leverage to buy other properties or keep it for your retirement fund. In most cases property will increase in value. Repairs and maintenance expenses and

Read more

Is Meth Test Still Necessary?

Information Retrieved from Stuff.co.nz; nzmethtesting.co.nz Landlords who forked out thousands are feeling duped after a government report busted the meth myth wide open. In a bombshell report issued on Tuesday, the Prime Minister’s Chief Science Advisor Sir Peter Gluckmanfound there is no evidence of risk to humans from third hand exposure to houses where methamphetamine has been consumed. But the meth testing industry has slammed the report, calling the office of the PM’s Chief Science Advisor “reckless”. After recent media and government attention on meth-testing in homes and rental properties I would like to give you my updated take on it all. Despite

Read more

LANDLORDS WARNED BY REINZ TO INSULATE RENTAL PROPERTIES OR FACE FINE OF $4000

As the New year has started and people are steadily returning back to work from their vacation, the Real Estate Institute of New Zealand (REINZ) is cautioning landlords that they need to insulate their rental property till 1st July 2019 or else the can face a fine of up to $4000 from the Ministry of Business, Innovation and Employment (MBIE). Chief Executive at REINZ, Bindi Norwell stated, “from 1st July 2019 ceiling and under floor insulation will be compulsory in all rental homes across New Zealand. That deadline is now less than six months away, and MBIE has warned that it

Read more

WHAT TO EXPECT FROM 2019 PROPERTY MARKET

WHAT TO EXPECT FROM 2019 PROPERTY MARKET 2018 has been an interesting year for New Zealand’s Property market. With steady volumes and values indicating reliable growth across New Zealand, however notably the market interest mostly concentrated on the recent government policy and measures to curb property conjecture. Below mentioned are the summarized key topics on the property and economic outlook for 2019. LVR Modification: Lightening the restrictions of the LVR from January 2019 onwards will be the initial landmark. However, the effects the changes that might have on the market will be watchful as it is expected that the banks

Read more

The Reserve Bank to relax the speed limits on High Loan to Value Ration Lending and additionally ​more loosening of the rules expected in the future.

The Reserve bank has pronounced to lighten the rules about the high loan to value ratio (LVR) housing lending in an expected move that might encourage the housing market. The development was announced on 27thNov as part of the bank’s latest Financial Stability ReportFrom 1 January 2019: Up to 20% (increased from 15%) of new mortgage loans to owner occupiers can have deposits of less than 20%. Up to 5% of new mortgage loans to property investors can have deposits of less than 30% (lowered from 35%). This is the next lightening of the LVRs, first introduced in the year 2013, which the RBNZ has

Read more

Parliament votes to pass the legislation for BANNING the letting fee.

The Parliament has voted to pass the legislation to ban the letting fee from 12th December onwards. The housing minister Phil Twyford said that letting fees are unfair for the tenants and banning it will be a good initiative in improvising the conditions for tenants, while in the long run, they are still reviewing the Residential Tenancies Act. He stated “Our tenancy laws are antiquated and don’t reflect the fact that renting is now a long-term reality for many of our families. Around half of New Zealanders now live in rented homes. This change could put up to $47 million

Read more

Gluckman’s Meth Standard to be adopted by the Tribunal.

15 micrograms per 100cm2will be accepted by the Tenancy Tribunal as the minimum standard for meth contamination for rental properties. The Chief adjudicator of Tenancy Tribunal, Melissa Poole stated that it will use the 15mg level as recommended in the Gluckman report – as long as the meth was completed after the report was issued on 28thMay 2018. She further explained to the delegates at the NZ Property Investors Federation conference in Dunedin that the Tribunal worked a lot and spoke to numerous people about the standard, including the Housing Minister Phil Twyford. The Tribunal’s hand was pretty much forced

Read more

Best opportunity for First Homebuyers..!!

First homebuyers of Auckland at an advantage by $87 per week compared to 18 months back. Are you planning to fulfill your wish of having a dream house? This would be the best time. Read further to get more information! Metro NZ Property Management would recommend you to get professional’s advices first. Decreasing mortgage interest rates, marginally low house prices and gently increasing wages all are assisting in the dream of Auckland’s first home buyers. According to the Home Loan Affordability Report of Interest.co.nz for the month of September, calculates that mortgage payments for a lower quartile priced home in

Read more

New Rules about Overseas Property Buyer

REAA has sent through a news letter to each agency about New Overseas Investment Rules. Are you overseas investment buyer? Read further to get more information! Metro NZ Property Management would recommend you to get professional’s advices first before you process your property transaction. New overseas investment rules live on Monday   The new overseas investment regime comes into effect next Monday, 22 October. From Monday 22 October, overseas people generally won’t be able to buy residential land in New Zealand unless they have a residence class visa and intend to live here. Every residential land sale will require a

Read more

Metro NZ Annual Charity Lunch for Love Soup 2018

At Metro NZ we believe businesses have certain responsibilities – we take our responsibilities seriously. This means we follow the spirit and the letter of all regulations, codes of practice and guidelines that affect our industry. Plus we take a proactive role in making the industry better, both for investors and tenants. This involves exceeding common standards of customer care and taking an active role in trade associations and industry bodies. An important aspect of doing business at Metro NZ is giving back to the community. Frank Rangi, our Managing Director, has a passion for the homeless and for those

Read more

We are Finalist to Excellence in Strategy and Planning in Westpac Business Award 2018

  If Oscars were given for a job well done, I’d nominate ourselves! Congratulations to us on our fantastic achievement! After three months of hard work, we were proudly announced as a finalist to Excellence in Strategy and Planning of Westpac Business Award. The Westpac Business Excellence Awards take place all around the country, in conjunction with local Chambers of Commerce. They give all businesses the opportunity to benchmark their success against other local businesses, including those outside of their own industries. It is rare for a property management company to focus on its own strategy and planning and this

Read more