1 November 2017 Newsletter. - 1st Nov 2017

1 November 2017 Newsletter.
Occupancy rate 99.76%
Arrears - 0.73% for October 2017

As I write we are now only 8 weeks until Christmas! The year has been an eventful one in the Property Management arena. With changes in legislation, health and safety, a buoyant sales market, new LTR values, tenancy services precedent cases (Perry v Inglis), the Osaki case and numerous methamphetamine related claims, and now we have new Government to boot.
Early election promises regarding Healthy Homes Warrant of Fitness and the abolishing of letting fees have not yet appeared in the news as being followed through so we now sit and wait for the directives from above.
We have received numerous requests from owners enquiring about the Management of properties being used as AirBnB accommodation options. This is not a market that we will engage in due to the risks involved for owners with regard to substance screening (properties being rented for illegal manufacturing and usage activities and costs to test), the administrative costs involved with furnished short-term rentals and insurance complications. Our service to owners and our ability to limit liability is without question our core business and we do not feel we can comprehensively do that with this type of accommodation option.
Rental Market
The demand for rental properties is extremely high and we have limited stock available. Figures from the Ministry of Business, Innovation and Employment indicate a slowing of the market in Auckland with the average weekly rent in Auckland reducing $10 to $520 per week. As with the past 24 months Nelson continues to perform well and we have seen a further increase, as reflected below.  The median rent for Nelson/Tasman across all rental dwellings in September was $393.10 (NZ Property Investor October 2017) an increase of 5.23% for the 12 months ended September 2017.
Like us on Facebook (Haven Property Management) to view properties currently available to let, interesting information regarding property management and shared links for the property investor.
From the team at Haven Property Management

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