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

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

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

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

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

Read more

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

Read more

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

Read more

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

Read more

WHY SHOULD YOU HIRE A PROPERTY MANAGEMENT COMPANY?

Dear Reader, As a landlord, managing your own property can be quite tricky. There is a whole lot of factors that need to be met, things that need to be done and or amended. Property managers are very aware of everything that needs to be done with a wide background of experience and a lot of answers and resources. Here at Metro NZ Property Management, we have twenty-one years of experience that will most definitely help home investors, be it your first time or not, to actually get the best value out of your property. In summary, according to R.

Read more

THE NEW FOREIGN BUYER BAN BILL

  Dear Reader, December last year was filled with changes in the New Zealand Government. A bill that would amend the current overseas act was introduced to revise the Overseas Investment Act. The current act applies to  sensitive land, but not residential land. The new bill would fit residential land within the category. According to Housing Minister, Mr. Phil Twyford, the government is determined to make New Zealanders first time buyers able to buy their first home without the competition of foreign buyers. Our property managers have been working hard to make sure our clients get the best out of

Read more

Who’s the winner?

  Hamilton Catches Up with Auckland Area’s property growth rateHamilton house prices have risen faster than Auckland Market since January this year. According to Stuff.co.nz, the price has been slow down for a short period during this year then it starts to head up again. As Hamilton is the most populous city of the Waikato region, it becomes a hot area for investors. With only one hour and half drive from Auckland, it also becomes a good choice for first home buyer to live.   According to the Statistics provided by QV, the growing rate of property market in Hamilton

Read more

Is Buying a House Risky?

According to QV.co.nz, the Average Value in March 2017 is higher comparing to the Average Value in March 2016. In terms of the whole Auckland Area, the Average Value is now $1,045,365 and was $931,061 at the same period last year. It is never too late to buy a house, no matter it is for investment or for your own home. Regarding to Stuff.co.nz, the typical value of a first home on Auckland’s North Shore is now $777,000. In Hamilton, it is $469,750, in Wellington, $592,300 and Christchurch $382,250. That means, even with a 20 per cent deposit, buyers are

Read more

The Power Of Airbnb -Wellington’s rental squeeze could worsen as homeowners choose Airbnb over Renting

According to stuff.co.nz, Airbnb’s growing popularity could see the already scarce number of rental properties in Wellington diminish even further over the next five years, and industry insider says. Airbnb is poised to become even more of a factor in the capital’s rental crises as more and more landlords turn over their flats and apartments exclusively to Airbnb management companies, rather than renting them out the traditional way. Airbnb is taking away rental stock from traditional long-term tenants. We all need rentals but as this catches on and tourism increases it’s going to be a problem. How Does Airbnb Work?

Read more

Why Aribnb Becomes an Option for Homeowners?

Airbnb is a crowdsourced accommodation platform that allows people to put up their places, spaces and spare rooms for other users to stay in. In June the global company set up its first New Zealand office in Auckland to keep up with demand for the service. There are now more than 7000 properties in New Zealand listed on Airbnb, up from 6000 just a month ago. A growing number of travellers are taking advantage of a surge in the number of homeowners offering to rent out a place to sleep. The benefits for homeowners to lease their spare room/entire house

Read more