Propertyscouts Dunedin

Propertyscouts Month End Newsletter - 3rd Jan 2018

Propertyscouts Month End Newsletter End of year disbursement payments: This will be the last disbursement message this year. Hurrah we hear some of you say! Your next disbursement payment will be made on Wednesday 3 January 2018. Because most of you will still be in holiday mode there will be no disbursement message. The hard-working crew at Propertyscouts will be working right through the stat days this year, although where possible, we will be working reduced hours
Spreading the Christmas cheer: There’s nothing worse than getting insignificant gifts that you know you will never use and we don’t want to add to your stress in that regard. So, instead of sending you some insignificant gift destined for the rubbish bin (or a re-gift at some time in the future) on behalf of all of our great property owners this year we will be making a donation to the Southland Community Hospice. Some of you will probably be aware that the Hospice holds a special place in our hearts, so whenever possible we do what we can to help this amazing organisation. As well as a donation from Propertyscouts Dunedin, Propertyscouts NZ will also be making a donation. Double the Christmas cheer 😊
QV house price index: Once adjusted for inflation, national house values are up by 4.4% year-on-year, leaving the national average value at $664,485. According to a QV spokesperson national value growth was led by stronger growth in Wellington, Dunedin and many other regional centres. Easing of the LVR’s is likely to improve activity and demand in the housing market through the summer months the spokesperson said
Five golden rules for property investors:

  1. Try to buy below value or find a way to add value
  2. It’s a business so treat it as such. Cash flow is important.
  3. You can’t do it on your own. An efficient team and professional property manager is important.
  4. Keep the big picture in mind.
Residential syndicate groups: We think syndicate groups will be a big part of the future in terms of residential property investment. If you are interested in becoming involved in a syndicate then please get in touch.
Property investment vs Bitcoin: Up until a couple of months ago most of us wouldn’t have even known what bitcoin was. In fact, do we still even know what it is? Wikipedia tells us that bitcoin is a ‘cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator’. Perhaps you need to be under the age of 17 to understand what that means. We still think that there’s security in bricks and mortar, but information from a local broker claimed that $150 invested in Bitcoin 6 years ago would now be worth a staggering 1.5 million!
Owners wanting to sell: The owners of 14 Renfrew Street Dunedin are thinking about selling. This is a very nice property in a good location. Its has always rented well and presently rents for $405 per week. Price indication is offers over $370,000.
Propertyscouts Christchurch: Just a further reminder that our latest Propertyscouts franchise in Christchurch is now up and running. The franchise owner is Rachel who worked as a property manager in the Dunedin office for the last two years. If you know of anyone looking for a property manager there then please get in touch with Rachel. We now have 12 Propertyscouts offices in the following locations:
  1. Auckland central, Auckland East and South Auckland
  2. Hamilton
  3. Hawkes Bay
  4. New Plymouth
  5. Tauranga
  6. Wellington
  7. Nelson
  8. Dunedin
  9. Invercargill
Q:  As a landlord what are my obligations to fix or repair my property during the term of a tenancy? 
A:  Landlords have an obligation under the Residential Tenancies Act to provide and maintain premises in a reasonable state of cleanliness and provide and maintain the premises in a reasonable state of repair having regard to the age and character of the premises.
Landlords who don’t meet these standards may be committing an unlawful act and tenants may sue (for exemplary damages) the landlord for breaching these standards or not meeting them.
Repairs and maintenance need to be addressed in a timely manner to prevent tenants taking Tribunal action. Where a tenant can show that repairs have not been carried out in a timely manner or they’ve dragged on too long then our experience is that generally, they will be supported by the Tribunal.
Next Disbursement:  Monday 15 January 2018
Disclaimer: Given the opinions expressed in parts of this email it’s important that we make it clear that the contents of this email are opinions and observations and made in good faith. We suggest that in all cases independent legal and financial advice is sought.

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