January 2017 Newsletter - 4th Jan 2017

January 2017 Newsletter Happy New Year, we hope you have had a fabulous start to 2017, and have been off for a run, are making green smoothies and eating well. Isn’t that what usually happens in the first few weeks of the New Year?

The team at Haven Property Management are all back on board with the exception of Georgia, who managed to secure another few days off to have an extra long Christmas holiday break.
It is always interesting to look back over the past twelve months and see what you have accomplished. Here at Haven Property Management over the past 12 months we have:
Rented out 203 properties, carried out 1350 of inspections, shown 1236 potential tenants through properties, and processed applications for 766 tenants. Now that’s alot!

Insurance and Rental Properties
Immediately after the first earthquake centered in Kaikoura in November insurers stopped issuing new policies raising fears house sales across the South Island and lower North Island would be disrupted.

Terry Jordan from The Insurance Council of New Zealand (ICNZ) has brokered a deal in which insurers will issue policies to new owners of homes, if they insured the old owner. The insurance policy gets transferred against from the vendor to the purchaser.  "We have had confirmation from most of the insurers, and all of the big ones," Jordan said. But he said insurers might still refuse if the buyers had criminal records or "adverse" claims histories, such as having been caught trying to defraud an insurer.

The deal does not however, end the freeze on homeowners who want to lift the sum their home is insured for, or put in place cover for a property that is not currently insured.
ICNZ has also been in talks with EQC on an accord aimed at taking some of the pain out of making claims on quake-damaged homes. Now the claims are being dealt through the insurance company rather than EQC.

If you are looking at purchasing a new property for yourself or as an investment property we recommend that you put in a clause about being able to obtain insurance in the sales and purchase agreement to protect yourself.

Another recent change that we have been alerted to by one of our property owners, is that some insurance companies are insisting that when we carry out routine inspections that every room in the property has been photographed. We will be ensuring this is done for all our routine inspections for 2017.

Insurance advocate Maurice Stilwell says “Insurance companies are going to continually change the terms and conditions to meet the market." He says avoiding that disappointment is often a case of going through insurance documents in greater detail.

In an email to a client AA Insurance said it now had new contents policy wording, stating, "There is no cover for any loss, cost or liability caused by, arising from or involving pollution or contamination." Landlords are also finding themselves without insurance cover, unless they are carrying out an inspection of the property every twelve weeks.

We strongly encourage you to regularly review your policy at least on an annual basis with your insurance company to find out what has changed.
Haven Property Management Video
With the help of local Nelson Company NakedEye, Haven Property Management has made their first video. It stars most of the team at Haven Property Management, and we think it is quite good. You can view the video out on our home page – www.havenpm.co.nz

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