Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Best rentals for tenants

Best rentals for tenants

A survey undertaken by the NZ Property Investors' Federation has highlighted the professionalism of Property Investor Association members.

The survey shows that these property investors are highly experienced, invest a good proportion of rental income back into repairs and maintenance and provide warm insulated homes for their tenants.

“On average 8.7% of rental income is being spent on repairs and maintenance by members of property investors’ associations,” said Andrew King NZPZIF Executive Officer. “This and other findings of our recent survey prove that the rentals owned by members of affiliated associations are the best choice for any tenants.”

“Using data gathered from the survey, we estimate that Association members are spending in excess of $400m per annum on housing and building related services. This includes $225m on mortgages and loans, insurance ($35m), building and housing materials ($74m), lawyers and accountants ($16m), property managers ($26m) and trades people ($27m). This is a significant contribution to the NZ economy.”

In addition the survey found that a third of respondents had purchased heaters for their rental properties in the last year, with the majority of these being heat pumps. Over 90% of the properties had some form of insulation, with insulation being added to 13% of properties over the last year.

A typical member is likely to have been investing in property for at least 17 years and has been undertaking regular repairs and maintenance during that time. He or she is more than likely to be managing his or her own properties, selecting the tenants and doing the regular property inspections.

Many of the respondents have often been members of their local property investors’ association for more than 5 years, with more than a third being members 10 or more years.

The reason for this continuous membership is likely to be that the investor has been able to learn about building and managing a property portfolio from the association’s educational programme of speakers and workshops while enjoying the networking with other successful property investors.

The NZ Property Investors Federation is the only national voice of residential property investors in New Zealand. There are 20 local property investors associations affiliated to the Federation.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news