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

 

Statistics: Dairy And Travel Still Our Largest Export Earners

New Zealand earned $2.3 billion more from exports than we spent on imports during the year ended June 2015... total exports of goods and services were $67.5 billion, while total imports were $65.1 billion. More>>

ALSO:

Approval: Air New Zealand And Air China Launch New Alliance Route

Air New Zealand and Air China have today launched joint sales for a new daily direct service between Auckland and Beijing after receiving approval from New Zealand Minister of Transport Hon Simon Bridges to form a strategic alliance. More>>

ALSO:

Money Trading: FX Trader Jin Yuan Finance Warned Over Lack Of Monitoring

Jin Yuan Finance, an Auckland-based foreign exchange trader, has been warned over its lack of anti-money laundering processes in place in the first public notification by the Department of Internal Affairs. More>>

ALSO:

Auckland Surge, Possible Peak: House Values Accelerate At Fastest Annual Pace In 8 Years

New Zealand residential property values rose at their fastest annual pace in eight years in August, pushed higher by overflowing demand in Auckland, which is showing signs speculators think it has reached its peak, according to Quotable Value. More>>

ALSO:

Cash Money: Reserve Bank Launches New $5 And $10 Banknotes

The $5 and $10 final banknotes were revealed at an event at the Bank in Wellington, and will start to be released from mid-October 2015. More>>

ALSO:

Truck Sales Booted: Commerce Commission Files Charges Against Mobile Trader

The Commerce Commission has filed charges against a mobile trader, or truck shop operator, claiming he obtained money from customers by deception and never intended to supply them with the goods they paid for. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news