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

 

Gordon Campbell: On Tiwai Point (And Saying “No” In Greece)

Its hard to see how Rio Tinto’s one month delay in announcing its intentions about the Tiwai Point aluminium smelter is a good sign for (a) the jobs of the workers affected or (b) for the New Zealand taxpayer. More>>

ALSO:

Half Empty: Dairy Product Prices Extend Slide To Six-Year Low

Dairy product prices continued their slide, paced by whole milk power, in the latest GlobalDairyTrade auction, weakening to the lowest level in six years. More>>

ALSO:

Copper Broadband: Regulator Set To Keep Chorus Pricing Largely Unchanged

The Commerce Commission looks likely to settle on a price close to its original decision on what telecommunications network operator Chorus can charge its customers, though it probably won’t backdate any update. More>>

ALSO:

Lower Levy For Safer Cars: ACC Backtracks On Safety Assessments

Dog and Lemon: “The ACC has based the entire levy system on a set of badly flawed data from Monash University. This Monash data is riddled with errors and false assumptions; that’s the real reason for the multiple mistakes in setting ACC levies.” More>>

ALSO:

Fast Track: TPP Negotiations Set To Accelerate, Groser Says

Negotiations for the Trans-Pacific Partnership will accelerate in July, with New Zealand officials working to stitch up a deal by the month's end, according to Trade Minister Tim Groser. More>>

ALSO:

Floods: Initial Assessment Of Economic Impact

Authorities around the region have compiled an initial impact assessment for the Ministry of Civil Defence, putting the estimated cost of flood recovery at around $120 million... this early estimate includes social, built, and economic costs to business, but doesn’t include costs to the rural sector. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news