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

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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

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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

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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

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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

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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

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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

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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

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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

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Watch Our Latest Video on Youtube!

We are pleased to announce that, Metro NZ Tube is officially online now and you can now watch all the videos of Metro NZ from Youtube. You can also subscribe our Facebook account by searching ‘Metro NZ Property Management’ to get the latest updates in Metro NZ as well as in Property Industry! Being the finalist to Westpac Business Award in Excellence of Strategy and Planning, we have made a huge effort to be stand out from the whole management industry. See what our staff say about Metro NZ and our services! Frank Rangi, Managing Director of Metro NZ Property

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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

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Updates on the Proposed changes to the Overseas Investment Act

According to Greg, the Government is likely to water down is proposed ban on foreign investors buying New Zealand residential property (Interest.co.nz, 19 June). Foreign Buyers would be allowed to buy into larger, multi-unit housing development such as apartment, according to Parliament’s Finance and Expenditure Select Committee. However, before Where a new development had a minimum of 20 units, overseas investors would be able to buy units off the plans, and retain them as investment properties once construction was complete. However overseas buyers would not be allowed to occupy these units themselves and there would be restrictions on how many

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Relax, Foreign Buyers!

According to Henry from Stuff.co.nz, the proposed foreign property buyers ban has been relaxed for foreign investors looking to buy apartments. “The Government will accept changes suggested by the majority of the Finance and Expenditure Committee in their report on the bill. The major change concerns apartments. Originally the ban would allow foreign buyers to purchase apartments off the plans, but would force them to sell them on once the building was completed. Now the ban will allow foreign buyers to hang on to apartments bought off the plan, as long as they are part of a development that is 20

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THE NEW INSULATION POLICY

Dear Reader, GOOD NEWS FOR ALL AROUND NEW ZEALAND: STARTING ON THE FIST OF JULY NEXT YEAR, INSULATION IS COMPULSORY IN ALL RENTAL HOMES AROUND THE COUNTRY. New Zealand is well known for the fact that most rental homes have minimum care about insulation, specially in the colder regions down south like Dunedin. The government of New Zealand has approved a new insulation policy which says that rental homes will compulsorily have underfloor and ceiling insulation, and it is coming in place on July 2019. Property managers are aware of the new changes and even though the policy will only

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MARKET TRENDS FOR PROPERTY MANAGEMENT

Dear Reader,   It is clear that as time goes by, society changes and with time their wants and needs also change. This post will explore what are some relevant global market trends for property management in 2018. The next twelve months will show a few changes in the field and the most relevant ones are as it follows.   Technology orientation According to R. Braun (2018), property management firms should be investing in more technology. Embracing the era of digitalisation and automation will mean that much more will be done faster and things will be done better. The rate

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