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

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

What Owners Should Know About the Planned New Earthquake Legislation in Wellington?

As the Building Act 2004 has regulated and set the definition of an earthquake-prone building, all building constructed prior to 1976 must be at least 34%of the New Building Standard within a given period. But after Wellington was hit badly by the magnitude 7.8 Kaikoura earthquake on November 14, the council’s disaster planners are looking to speed up the introduction of new building regulations. The council was worried about the resilience of the city and was considering this as an opportunity to improve the city for the future generation. The focus was on homes because it was known that Wellington’s

Read more

The deadline for insulation and smoke alarm installation is approaching

As the Housing Minister Nick Smith has announced, landlords will be required to insulate and install smoke alarms for their rental properties before mid of 2019 to meet the new standard in Residential Tenancy Act to provide the tenant with a proper living environment. “Overall this package will see the biggest improvement in the quality of New Zealand’s older homes this decade than in any decade and it will see a half million New Zealanders, particularly those on low incomes, having a safer warmer and drier homes,” As Smith announced. The landlord will be fined for breaching the tenancy legislation up

Read more