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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METRO VIP OUT AND ABOUT

Dear reader, Who is Metro NZ Property Management, you may be asking yourself. The easy answer would be a twenty-one-year-old nationwide overly experienced investment and property management company based in Auckland, New Zealand. In honesty, this company is SO more than just that.  We are a group of people that have been in the business long enough to understand the needs and wants of people like you. We are all about values. We manage and invest in property with honesty and integrity and we will always have our client’s best interest at heart. Most of all, we are a family

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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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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.

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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

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Purchasing property in current market conditions, is it better to wait?

Purchasing property in current market conditions, is it better to wait? Recent research conducted by Goldman Sachs indicated that there is a 40% chance of the NZ housing market going bust. Further insights concluded that NZ’s housing market is over-valued the most amongst the G-10 economies. A housing bust can be described as house prices declining by 5% or more and is calculated through ratio calculations relative to house prices to rents, annual household incomes, and inflation impacting house prices. In Auckland alone, the average house price has increased 91% since 2007. With these escalating figures, the amount of people

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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

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How to avoid fines and tenancy disputes

Managing a rental property can often be a complicated task – its not quite as simple as sitting back and collecting rent. There are many rules in place for landlords that are there to protect the rights of the tenants. If the landlord fails to comply with these rules, it may result in large fines and even prosecution. Here are some simple tips on how to avoid mistakes when managing a rental property. Discrimination When screening potential tenants for your property you are not able to base your selection on factors such as gender, marital status, religious beliefs, race, ethnicity,

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