August 2019 Newsletter. - 1st Aug 2019

August 2019 Newsletter. August 2019 - Haven Property Management Newsletter.
 
WAHOO!! We made it!!
 
The BIGGEST thank you to you, our respected landlords form our team at Haven Property Management….
 
We are to Code for July 2019 Deadlines!
 
So now let’s take a deep breath and take the time to applaud our efforts in having our tenants happier and cozier this winter!   The Haven Team has worked extremely hard to achieve this deadline and acknowledge the great team work with you all, to ensure this was completed in time.
  
Occupancy & Arrears
 
While we are celebrating, we want to take the time to recognize the incredible effort our team manages to undertake to hit an occupancy rate of 99.74% AND 0.26% rent arrears for July.  We manage to hold under 1% most months due to the tremendous dedication of the Haven Team.
 
Without the continuous dedication from Paul, Michelle, Kendall, Georgia and Samm we would be unable to achieve these impressive results.
 
We pride ourselves on the relationships we build with our landlords and of course the strong relationships we have with our tenant base.  We are always striving to ensure we have the best fit tenants that suit your properties, to ensure consistent rent payments and respect of your properties.
 
We believe in a win win win relationship for the landlord, the tenants and for Haven Property Management. 
 
It is time for celebration, sit back and relax.  We have all worked hard.
  
For rental industry news, please read on…
  
Rental Market
 
Nationally the demand for rental properties continues to outstrip supply, and we are again seeing the negative media stories emerging of sub-standard rental properties being offered, the latest being a Nelson management company. While these media articles portray negativity and despair, within our industry, our properties are of a good standard, compliant and well managed. Our tenants and Owners and Property Managers create wonderful strong relationships that reward both tenants, who stay longer and Owners, safe with the knowledge that their properties are being well maintained and comply with all legislation.
 
As of 29 July 2019 the number of properties available on TradeMe stands at 123 (previous month 133). This is the third consecutive month the number of available properties has declined. 40% of properties listed are Private Listings This is comprised of 19 (22) one bedroom properties, 36 (32) two bedroom properties, 42 (55) three bedroom properties and 26 (22) four + bedroom properties. The noticeable difference being in the three bedroom range where there is a reduction on 13 properties in the family range.
 
The median rent received in Nelson/Tasman for the month ending June 2019 was $429.08 ($428.66), an increase of $0.42 per week from May 2019.  The average rental in Nelson/Tasman has increased by 7.92 % in the past 12 months and. July has been a slightly quieter month for enquiries.  (New Zealand Property Investor)
 
Rental Disbursement
 
The next rental disbursement will be on Thursday 15th of August for mid-month payments and Monday 2nd September 2019 for the end of the month payment and statement.
 
Hot Properties
 
Hot properties from Haven Realty. Please see attached references for property details and contact details for the relative agents. Glenda and Toni.
 
https://www.realestate.co.nz/3591949
https://www.realestate.co.nz/3591948
www.havenrealty.co.nz ID:1993068  
 
With much thanks and appreciation,
 
Darryl and the Team at Haven Property Management.

June Newsletter 2019. - 1st Jun 2019

June Newsletter 2019. Please click the link below:

https://us18.campaign-archive.com/?e=&u=c2ab9f1c4ce0db6871cb248cd&id=0e32081cca
 

1 March 2019 Newsletter. - 1st Mar 2019

1 March 2019 Newsletter. Occupancy rate 99.48%   Arrears – 027.% for February 2019
 
At the time of writing a second fire outbreak is engulfing our region. Our thoughts and best wishes go out to those effected by the initial evacuation in Pigeon Valley/Wakefield and now throughout Redwood Valley/ Upper Moutere.

The Healthy Homes Guarantee Bill was introduced last Sunday by the Labour Coalition Government. This has sparked an enormous debate amongst commentators and experts in the industry, leading one commentator to state that it will cost the average Landlord $7,000 per property. This is not a statement I believe. During the last 2.5 years Landlords have been insulating properties in line with the introduced legislation with the majority of our properties meeting those standards. Coupled with the fact that most rental properties on our books have a fixed form of heating in the lounge (heat pumps, log burners, gas fires etc) the work has been done and as such should comply with being able to heat a lounge to 18 degrees.
False alarm.
However after 1 July 2019 properties still requiring insulation will have to have Ground Vapour Barriers installed as part of the new standards.
 
Rental Market
 
Rental inflation has been trending higher recently, with policy changes aimed at making property investment less attractive playing a role. Rental affordability has not worsened in aggregate, but some households will nonetheless be feeling the pinch. Going forward, waning population growth is likely to see pressure on rents subside somewhat. Yet with the pipeline of policy changes continuing, including possible extension of capital income taxation, rental inflation is likely to remain solid as investors attempt to maintain returns. Overall, we expect the recent trend of rental inflation outpacing house price inflation to continue for a while yet. Headwinds are expected to continue to act on the market for existing housing, while property investors attempt to recoup some yield by increasing rents. (New Zealand Property Focus ANZ)
February has seen a significant increase in the numbers of properties listed for rent in the region. As of 27/02/19 the number of properties stands at 131 (previous month 105). This is comprised of 24 One bedroom properties, 30 two bedroom properties, 57 three bedroom properties and 20 four + bedroom properties.
There is strong demand for good quality properties in the hill suburbs, Nelson Central and Richmond.
We continue to see high numbers of new arrivals to the region both nationally and internationally.
The median rent received in Nelson/Tasman for the month ending January 2019 was $413.75; an increase of $4.17 per week from December. The average rental in Nelson/Tasman has increased by 7.5% in the past 12 months. (NZ Property Investor) This increase I believe can be attributed to Landlords looking to start taking steps to offset the letting fee being charged to Owners, contrary to the opinions and thoughts of those in Government. 
  
Meet the Team
  
Georgia Rose – New Business/ Administration
Georgia, as well as being our Director of First impressions, holds the role of New Business Officer. Georgia often tells me that she loves her job and I can see the passion she has for the industry on a day to day basis.
A recent 1st home buyer, Georgia can be found enhancing her house and section most weekends. Having been with the company for 4 years Georgia has developed a good understanding of property management and works well with prospective Landlords and growing the business. Georgia is an avid motorbike rider and a keen fisherperson in her new boat, however we are yet to see the catch in the office though!
 
Rental Disbursement
 
The next rental disbursement will be on Friday 15th of March for mid-month payments and Monday 1st April 2019 for the end of the month payment and statement.
  
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From the team at have Property Management.

1 February 2019 - 1st Feb 2019

1 February 2019
Heat wave, what heat wave? It’s just normal Nelson temperatures right? It was reported that the overnight LOW was 24.2 degrees on Sunday night (27/01/19), which I believe is some kind of record. Water restrictions are in place around Richmond area with Nelson coming soon I am sure, and unfortunately there is no significant rain scheduled. Sections and gardens are suffering from the extended dry spell. In a user pays society some tenants require incentives to actually water the gardens and while the volume of water is not significant we see it often that the minimum will be done. Possibly consider offering a $5 - $10 water credit to your tenants which equates to 2,000 – 4,000 litres to keep properties hydrated.Properties with fireplaces had their annual chimneys sweeping organized in the month of January with If any firebricks or maintenance was required the company will have advised us and we will secure quotes for remedial work.
The scheduling of insulation installations are now booked through to late April so for any of you last minute decision makers I suggest its time to act. There will be further information coming out in the near future advising our position on any non-compliant properties that we manage.
 
Rental Market
 
Property rental listings in the Nelson Tasman region are slowly starting to increase after the high demand period of December and January. At the end of January there were 105 rentals available (up from 80 the previous month): 42 three bedroom properties, 28 two bedroom properties, 22 one bedroom and only 13 four bedroom+ properties available.
The average length of a tenancy with Haven Property Management is 3.3 years and we see this increasing as tenants struggle to cope with the cost of moving and finding comparable dwellings at higher market rates than they are currently paying.  There remains a lack of quality rental properties in the Nelson Tasman region.
 
The median rent received in Nelson/Tasman for the month ending December 2018 was $413.75; an increase of $4.17 per week from November. The average rental in Nelson Tasman has increased by 7.5% in the past 12 months. (NZ Property Investor) This increase I believe can be attributed to Landlords looking to start taking steps to offset the letting fee being charged to Owners, contrary to the opinions and thoughts of those in power.  Our occupancy levels are 100% for the month of January.
 
Meet the Team
 
Michelle Oullette - Property Manager

Originally from Vancouver, Canada, Michelle arrived in New Zealand with her partner in 2013 gaining residency in 2018 after living in Queenstown for 4 years.  Michelle has a strong belief in customer service excellence with extensive experience in varied roles such as Corporate Technical Trainer, Senior Community Living Counsellor, IT Office & Accounts Manager and most recently short-term Luxury Property Rentals and Asset Management. These positions have provided Michelle the skills, patience and resources required to handle any challenge or situation with grace and integrity.  In her free time, Michelle's interests include Waka Ama, hiking; fishing; and of course, traveling the world. She has a serious passion for cooking, baking and cake decorating; and the Team often reap the benefits.

Rental Disbursement
 
The next rental disbursement will be on Friday 15th of February for mid-month payments and Friday 1st March 2019 for the end of the month payment and statement.
 
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From the team at have Property Management.

Time for a sea change - Monday 7 January 2019. https://www.landlords.co.nz write up. - 7th Jan 2019

Time for a sea change  -  Monday 7 January 2019. https://www.landlords.co.nz write up. https://www.landlords.co.nz/article/976514124/time-for-a-sea-change

Time for a sea change

Monday 7 January 2019

Regional Review

Time for a sea change

Nelson-Tasman is famed for its lifestyle attractions but its solid price growth and tight rental market make it a good option for investors too, writes Miriam Bell.

Proudly staking its claim to being the sunshine capital of New Zealand, the Nelson-Tasman region has a very particular set of attractions. Sitting at the geographic centre of the country, the region is blessed with significant natural bounty – including stunning beaches and the Abel Tasman and Kahurangi National Parks.

Nelson itself is one of New Zealand’s oldest settlements and is a solid economic performer. It has the largest fishing port in Australasia, a range of industries in established areas like forestry and tourism and new, exciting ones like aquaculture and boutique brewing. Thanks to a thriving arts scene, it has also become known for its lively city centre and an alternative, creative vibe.

That all means the region has become popular with both those seeking a sea change and those looking to retire for a gentler pace of life. As a result, it has one of the fastest growing populations in the country. And that has led to a strong, healthy housing market.

In recent years, the Nelson-Tasman region has seen good price growth and an increasingly tight rental market. Experts say a slow-down of sorts is likely and, further, that there are some unique issues impacting on the market. But they also continue to predict a rosy outlook, with options for investors, going forward.

Price performer

Unlike many other regions, Nelson-Tasman has long seen decent house price growth. It is estimated that over the last 10 years Nelson’s house prices have gone up by an average of 78% while Tasman’s have risen by 66%.

One of the main reasons for this is the strong demand generated by the growing population. But the latest data highlights just how strong the region’s market continues to be.

The latest QV House Price Index shows that Nelson values rose by 7.7% in the year to October and by 1.7% over the past quarter. This leaves the average value in the city at $593,947. Likewise, values in the Tasman District have also continued to rise. They were up 7.2% year-on-year and 1.0% over the past three months, leaving the district’s average value at $586,219.

QV’s Nelson property consultant, Craig Russell, says land values have significantly increased in the city centre, mostly due to its lifestyle appeal and the limited supply of properties. “But investor activity has been quieter than usual. This is a likely result of more modest returns, a limited prospect of strong capital growth in the short to medium term and increased compliance costs on the horizon.”

The October data from REINZ also points to a healthy market. It has Nelson’s median price up by 15.8% year-on-year to $518,000. The wider Nelson/Tasman/Marlborough region saw median prices up by 10.5% and sales volumes up by 16.9%, once seasonally adjusted.

REINZ chief executive Bindi Norwell says the market remains positive across the board and there are still buyers that are relocating from Auckland and other regions. “This suggests that the region continues to be seen as affordable. The Nelson area is seeing the majority of relocated buyers.”

However, the REINZ data suggests the market is slowing down. Norwell says that when looking at September compared to October in the region, the increase in median price was smaller than expected. At the same time, a decrease in the sales count was fractionally greater than expected.

First National Real Estate’s Martin Wilkie agrees that buying demand has gone down a little of late. But not prices, which continue to tick over well, he says. “We don’t tend to see the troughs that you do in other markets. Still, I see prices plateauing a bit and cooling over the short to medium term. They won’t be like they have been over the last 18 months or so.”

He is still seeing a fair amount of out of town investors active in the market. “But Mum and Dad type investors are starting to get out a bit because the market is getting so much tougher for them.”

Supply constraints

There may have been a decrease in investor activity, but prices are staying put. That’s not just because of population growth. The Nelson-Tasman region’s unique supply constraints have contributed too.

Nelson City, which is surrounded by hills and the sea, has run out of flat land to build on, Nelson Property Investors’ Association secretary Glenn Morris explains. While building can be done on the hills, it is more difficult and the land available is constrained.

The surrounding Tasman District which has lots of flat, rural land is the obvious solution. But the Tasman District Council (TDC) has long tried to restrict such growth and it’s only recently that developers have managed to push through, he says.

As a result, there’s a major shortage of housing. Morris says there is intense competition for properties on sale as well as strong demand from people with deep pockets. “But the number of properties available in Nelson is very low and that is keeping the prices up.”

Supply pressures do look set to alleviate going forward. Some relenting on the part of the TDC means some major developments are set to go ahead. One of these, the Richmond West subdivision, will create 1,500 new dwellings plus two retirement villages.

Additionally, REINZ reports a recent increase in the amount of properties available for sale. The region’s inventory was up by 8.3% in October as compared to October 2017. Morris puts this down to a spring lift. “Only time will tell if these new listings will impact on current record high house sale prices.”

Rental squeeze

It is not just Nelson-Tasman’s sales market that is affected by the shortage of housing. The region’s rental market is extremely tight. Tenant demand is high but there’s limited stock and rental vacancies are very low.

This state of affairs is good for investors as it makes for strong rent growth. Summit Real Estate property management GM Stewart Henry says they have seen rent increases in Nelson of up to 10% and in Tasman of 7% over the last year and of 3% per year over the last 10 years.

It has left rents at record levels. Realestate.co.nz has the region’s average weekly rent at $437 in October, up from $430 in September. And all our interviewees believe they are still rising due to the ongoing rental pressures.

Despite this, returns are not as high as in some other regions, with Realestate.co.nz putting the average rental yield at 3.39%.

Looking at three-bedroom houses, Henry says the average in Nelson is 3.9% and 4% in Tasman. “I’d say the hot spots for investors are Nelson City two-bedroom flats and units which have returns averaging 4.6% and Tahunanui Stoke for two-bedroom flats and units returning 4.8%.”

However, the region’s tenant pool is generally considered to be good quality and it benefits from seasonal workers who come to work in the fishing, forestry and fruit industries. The region’s tenants also have a preference for long term tenancies.

Henry says properties don’t sit around empty for long. “There is always a choice of tenants and if tenants are looked after well they tend to stay in the properties. If you look at websites like Realestate.co.nz you will see that Nelson has far fewer vacant rentals than other cities like Auckland.”

Top spots

Investors looking to buy do need to think about where they are buying, even though the supply shortage means there is demand for property throughout the region.

Morris says it pays for investors to remember that rental demand is actually highest in the Tasman district due to the very low number of vacancies there. “But in a number of urban areas – Richmond, Golden Bay, Wakefield, Motueka – there is also huge demand for rentals and good rates of capital growth.”

Some of the suburbs with older housing stock are more affordable but they don’t offer the same quality, he adds. This is backed up by QV’s Russell who says properties that are mostly in original condition, or have significant deferred maintenance evident, have proven difficult to sell or have sold at more modest levels, particularly in the Port Hills.

“In contrast, the College and Cathedral area, in particular, has proven popular given its proximity to good schooling and central city amenities. Modernised character homes in this area are generally selling in excess of $900,000.”
 
Wilkie also picks Richmond as a suburb with potential as it is popular with families and, therefore, good for long term tenants and solid returns all year round. It’s also set to expand due to the planned developments.

“But Motueka is coming into its own while Moutere is a bit of a jewel in the crown. It’s a lovely village which is great for short-term, holiday type rental properties.”

But investor Harry Pearson, who owns four properties in Nelson, believes properties in areas close to the city centre are winners. He also says that if an investor can make the numbers work, high demand for one or two-bedroom flats makes them an attractive option.

“Most importantly though, buy a place with all day sun. They are warmer and drier so they have less problems with damp. You can get houses that are cheaper because they get less sun but you will struggle to find good tenants for them.”

Words of wisdom

All our interviewees say the fact that being a rental property owner has got a lot harder means investing has become less attractive. But they also all still see opportunities in the Nelson-Tasman market.

The planned developments means new builds are an option for investors, while the region’s ageing population means there are growing numbers of older houses ripe for value-adding renovation coming on to the market.

There’s also plenty of activity in the holiday rental, Airbnb market – although it is competitive. Pearson thinks there is opportunity for investors in short-term accommodation for seasonal workers and students. “For those starting out, maybe younger investors, there is scope in the rent-by-room option, which would also help the rental shortage.”

Overall, the market’s outlook is healthy, Wilkie says. “When it comes to financial returns for investors, I don’t see price growth just finishing. More people are seeing what the region has to offer. It’s a lifestyle destination for people. They are going to keep coming so prices will remain strong and the area will keep going up.”

1 January 2019 Newsletter. - 1st Jan 2019

1 January 2019 Newsletter.

 
Occupancy rate 100%
Arrears 1.08% for December 2018
 
Welcome to 2019!! Our staff is back after enjoying a break over the Christmas New Year period ready to continue providing excellent service to our valued clients. I hope Santa has been good to you all and has delivered on many stress-free options for you to spend your leisure time. The end of last year saw us working through to the 24th as we continued to take on new management, complete property inspections and work through maintenance issues prior to the break. Our notified Letting Fee changes came in to force on the 01/01/19. 
 
Chris Varcoe Manager at Haven Property Management.
 
Rental Market
 
Many commentaries over the past 4 weeks have focused on the cost to tenants to cover off the letting fee charged, effectively increasing the rents on properties. We see no difference in Nelson with rents looking to be adjusted to counter the letting fee. The secret being that the longer the tenants remain in place the better off Landlords will be as there will be no letting fee charged and rents will increase. The average length of a tenancy with Haven Property Management is 3.3 years and see this increasing.
There is still a lack of quality rental properties in the Nelson Tasman region.
 
Property rental listings in the Nelson Tasman region have slowly increased prior to Christmas as we traditionally experience, with many properties advertised for short-term tenancies throughout summer. At the end of December, there were 80 rentals available: 22 three bedroom properties, 24 two bedroom properties, 17 one bedroom and only 14 four bedroom properties available.
 
The median rent received in Nelson/Tasman for the month ending November 2018 was $409.58 an increase of $1.92 per week from October. The average rental in Nelson Tasman has increased by 5.45% in the past 12 months. (NZ Property Investor)
Our occupancy levels are 100% for the month of December.
 
The market is finally starting to see the return of the investor. Interest in quality dwellings is on the rise as many banks have relaxed their Loan To Value Ratios (LTV)come down to 20% from 40%. Current gross yields can be as high as 5.5% for the right property purchase with investors looking at the long-term gains in a buoyant economy and rising rents forecasted to continue.
 
Meet the Team

Kendall Robinson - Property Manager

Kendall is about to celebrate her first year’s anniversary with Haven. She brings an infectious, high energy to the office and enjoys building relationships with Owners and Tenants alike. Having owned property Kendall has a feel for prioritizing maintenance and working with Owners for the best outcomes. Kendall has a genuine interest in building and construction and has renovated homes previously. Kendall has experience working on two $5m Shopping Centre redevelopments while living in Australia and excelled in the role of Project Coordinator. Kendall also has experience asPT instructor and can be found at the gym most mornings.
 
Rental Disbursement
 
The next rental disbursement will be on Tuesday 15th of January for mid-month payments and Friday 1st February 2019 for the end of the month payment and statement.
 
From the team at Haven Property Management.
 
"More than just collecting the rent."
 
 

 

RISING RENTS ON THE HORIZON AS GOVERNMENT POLICY KICKS IN - 1st Dec 2018

RISING RENTS ON THE HORIZON AS GOVERNMENT POLICY KICKS IN Link from our December newsletter

PLEASE CLICK THE LINK BELOW.

https://www.realiq.nz/news/2018/11/20/lettingfeeban?ct=t()&mc_cid=fa3e371b1b&mc_eid=2752da220a
 

1 December 2018 Newsletter. - 1st Dec 2018

1 December 2018 Newsletter. Occupancy rate 98.23%   Arrears – 0.26% for November 2018
 
As this is our last Newsletter of 2018, I would like to take the time to acknowledge all our valuable clients whom many we have worked extremely closely with on refurbishment projects, large maintenance projects, insulation projects and those who have had tenants vacate. Your support in making the compliance legislation as smooth as possible means a great deal to our Property Managers. The relationships built over time are testament to the sound work our staff continue to administer to ensure your best interests are being catered too. Without a doubt it has been a testing past 12 months for property owners and Property Managers alike, as an over zealous Government have moved to implement change across a variety of criteria.

Grocery Vouchers
 
Thanks to those of you who have contacted Nicola to request grocery vouchers. It is still not too late  to acknowledge your tenants by way of grocery vouchers, either $50 and $100 New World   gift cards. Please email Nicola directly at nicola@havenpm.co.nz to nominate your preference by Friday 07/12/18. We have great tenants looking after your properties, so we are happy to co-ordinate this good-will gesture.
 
Rental Market
 
Despite Labours announcement that they ‘did not expect rents to rise’ with the abolishing of the Letting Fee, it is short sighted to believe that Landlords would ‘absorb’ the costs. There is no doubt about it, the costs associated with new legislation will be passed on to the tenants, directly through the increase in rental prices. We will see over the next 12 months a continuing of rental price increases as demand continues for good quality rental properties. David Faulkner of Real IQ addresses the issue.
 
Property rental listings in the Nelson Tasman region have dropped further approaching the Christmas New Year period, down from 101 to 78 across all dwellings. There are only 25 three bedroom properties, 23 two bedroom properties, 17 one bedroom and only 12 four bedroom properties available. This is resulting in large numbers of groups registering to view properties with many high quality tenants being identified.
 
The median rent received in Nelson/Tasman for the month ending October 2018 was $407.66, an increase of $8.04 per week from September. The average rental in Nelson Tasman has increased by 6.27% in the past 12 months. (NZ Property Investor)
Our occupancy levels are 100% for the month of October.
 
Meet the Team
Paul Meeson - Senior Property Manager

Paul and Haven Property Management are synonymous with experienced property management. Paul has forged a successful relationship management career through his ability to listen too and advise Landlords on all aspects of property investment. Starting his Property Management in England, Paul has an established client base, many who have been with him for many years.
An avid runner and administrator of athletics in Nelson, Paul has
an infinity with Crystal Palace in the EPL, for the meantime!!

New rates valuations
 
The Nelson City Council has released the new valuations for properties.  If you wish to check your current valuation please go to http://www.nelson.govt.nz/rates-search/
 
Rental Disbursement
 
The next rental disbursement will be on Monday 17th of December for mid-month payments and Thursday 3rd January 2019 for the end of the month payment and statement.
 
Emergency contact numbers
 
The offices of Haven Property Management will be closed from 2.00pm on the 24/12/18 and will re-open on Thursday 03/01/19 at 8.30am.
Should you have any emergencies that require urgent attention you can reach me Chris on 0272203326.
 
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From the team at have Property Management.

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