1 January 2018 Newsletter. - 1st Jan 2018

1 January 2018 Newsletter. Occupancy rate 97%   Arrears – 1.28% for December 2017
 

 
Welcome to the New Year! I trust you were all able to switch off from your investments safe in knowledge that they are in good hands with our staff being on call to manage any issues. I am happy to report the number of maintenance call-outs over the holiday season was limited, with no major issues reported.
 
With 18 months remaining until the new insulation legislation takes effect, there is a high percentage of properties still below standard existing insulation levels. We have been advised by our suppliers that as we get closer to the deadlines the demand for product will increase, the demand for insulators will increase and consequently the price will rise the nearer to July 2019 for work being completed. I would recommend looking into getting your property up to the required standards sooner rather than later. Funding is still available in Nelson for those tenants who hold Community Services Cards. There is no funding at present for the Richmond/Tasman area.
 
Rental Market
 
December was relatively quiet with the number of listings becoming available to rent however the demand on each listing has been consistently high as more people come into the market.
The median rent for Nelson/Tasman across all rental dwellings in November was $399.70 (NZ Property Investor December 2017) an increase of 12.1% for the 12 months ended November 2017. With a fixed term lease being preferable for most new leases, tenants are staying in properties longer and rent reviews being implemented annually with rises reflecting the market increases.   
 
Rental Disbursement
 
The next rental disbursement will be on Monday 15th of January for mid-month and Thursday 1st February 2018 for the end of the month.
 
Hot Property
 
2/ 14A William Street, Richmond
Currently rented at $435 per week with potential for an increase.
https://www.havenrealty.co.nz/listings/residential_sale-1257979-richmond/
Will consider offers over $395K
 
 

1 December 2017 Newsletter. - 1st Dec 2017

1 December 2017 Newsletter.
Occupancy rate 100%   Arrears – 0.25% for November 2017
 
Hi,
 
As the year continues to fly by this is the last newsletter for 2017. We are sad to announce that after 3.5 years Julie James has left us to pursue other opportunities. Also in December Ginnette Smythe will leave us after 6 months and we wish them both all the best. We enlisted the services of a Senior Property Manager, Sally Moore to manage the work load until suitable replacements are appointed.
 
As reported in October the landmark case of Parry v Inglis (A Dunedin landlord ordered to refund $10,900 in rent as the property had unpermitted alterations) went to the Appeals Court late November and had the order overturned. The Tenant now has a $10,900 bill to pay back to the Landlord. The Judge believed that the tenant had not suffered any detriment as the property was completed to a high standard and would consider the Landlord’s claim of $4,279. This will result in many cases that used this case as a precedent to be appealed in the coming months. However, it still serves as a warning to Landlords that sub-standard unpermitted conversions will still be susceptible to tenant claim.
 
Grocery Vouchers
 
Every year we offer Landlords the option to acknowledge their tenants by way of grocery vouchers and again we would like to extend the offer. The options remain at $50 and $100 New World vouchers. Would you kindly email Nicola directly at nicola@havenpm.co.nz to nominate your preference by Monday 11/12/17. We have great tenants looking after your properties, so we are happy to co-ordinate this good-will gesture.
 
Rental Market
 
The demand for rental properties in Nelson Tasman continues to outstrip supply and there continues to be limited stock available as more and more people choose Nelson to relocate too. Tenant enquiry is very strong from Auckland and overseas. The median rent for Nelson/Tasman across all rental dwellings in October was $394.40 (NZ Property Investor November 2017) an increase of 5.24% for the 12 months ended October 2017, the first ‘plateau’ since the 2012.
 
Rental Disbursement
 
The next rental disbursement will be on Friday 15th of December for mid-month and Wednesday 3rd January 2018 for the end of the month.
 
Our offices will be closed from 2.00pm on the 22/12/17 and will re-open on Wednesday 03/01/18 at 8.30am. Property Managers will be on-call over this period just phone our office number (03 548 3440) for the on-call person and they will be able to attend to any urgent matters.
 
On behalf of the team at Haven Property Management we wish you all the best for the Festive Season, hope you indulge in relaxing activities and welcome 2018 with renewed optimism.
Thank you for your continued support in trusting your assets with our team.
 
Chris, Nicola, Paul, Georgia, Sally and Darryl 
 

1 November 2017 Newsletter. - 1st Nov 2017

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

 
 
Hi,
 
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
 

1 October 2017 Newsletter - 1st Oct 2017

1 October 2017 Newsletter Haven Property Management statistics-
 
Occupancy rate 99.76%
 
Arrears - 0.73% for September 2017
 
Tenancy Tribunal attendances in the past 12 months – 5 (all with positive outcomes)

 
 Hi,
 
Our Spring Special of a house wash and gutter cleaning has drawn lots of interest but there is still time to take advantage of the this. Just to confirm, we have partnered with Jeff Neilson Waterblasting to offer a September/ October special to clear the guttering, hand wash and         softwash a single storey 3 bedroom home for a flat fee of $260 + GST!! Multi storied dwellings, patios/ decks and pathway by negotiation, so speak with your Property Manager today.
 
Tenancy Tribunal

 
In a recent Tenancy Tribunal case in Otago (Perry v Inglis) a Dunedin landlord was ordered to repay $10,000 rent to a tenant, because the tenant had been living in a property with unpermitted alterations. The tenant had stayed for 29 weeks. The Landlord bought the property as is. They did not realise that the alterations were different from plans submitted to the Dunedin City Council, and did not request a LIM report.
The tribunal said the tenancy was unlawful because of the unpermitted work and the tenant was entitled to a full refund of all rent paid.
Real IQ Property Management consultant David Faulkner agreed there could be thousands of landlords in Inglis' position. "It's in the New Zealand psyche to do it themselves but all of a sudden a lot of legislation is coming into effect, and a lot of people are being caught out." He said 90 per cent of Tenancy Tribunal applications were made by landlords. "If tenants started taking landlords to the tribunal we would find out how many non-compliant landlords there are in New Zealand ... tenants have plenty of rights, they just don't know they exist." 
This precedent serves as notice to Owners and places the emphasis on them to ensure that the dwelling and any out buildings, sleepouts or decks etc carries the appropriate permits required by Local Authorities. As your Agent, we will be contacting you individually to ensure that your   investment property is “a lawful” property with a Code of Compliance for any alteration signed off. If you are in any doubt quiet research should be conducted to ensure compliance has been obtained.

Rental Market
 
With the weather warming the demand for rental properties has again risen since last month. With selling listings becoming harder to obtain property owners are looking to sit on their investments as the market shows no sign of slowing in Nelson/ Tasman, which is good news for existing tenants however the region continues to draw in families nationally and internationally placing pressure on the existing rental stocks.
The median rent for Nelson/Tasman across all rental dwellings in August was $391.50 (NZ Property Investor September 2017) an increase of 7.46% 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

 
 
 

1 September 2017 Newsletter - 1st Sep 2017

1 September 2017 Newsletter September 2017

Hello,

Maintenance
“Spring has sprung, the grass has riz, I wonder where the birdie is” You can bet they are contemplating building their nests in the eaves or under roofing iron of your rental property!!  After the autumn/winter we strongly recommend getting your gutters cleaned out. 

Insurance
Many insurance companies are insisting on rental properties being inspected every 12 – 13 weeks and require photos to be taken of every room to chronologically determine and prove the condition of properties should a damage claim be lodged.  You will see in the inspection report photos of walls and ceilings and you may think ‘what the heck is that’ and ‘why am I getting these’. Insurance companies have the ability to request inspections to support your claim, so please bear with us.

Rates
The first instalment of property rates was paid out in August.  Owners we strongly recommend that you set up direct debits with your Council to have property rates and water rates automatically deducted from your nominated account.  Currently we receive a large volume of rates demands from both Councils in the mail, which is a less than effective, time consuming process and by switching to direct debits will ensure your rates are paid on the due dates.  The Nelson City Council is offering a $500 travel incentive prize draw if you sign up for emailed accounts and direct debits prior to the 04/09/17.  For online registration visit www.nelson.govt.nz.  If your property is in the Tasman District Council catchment please visit www.tdc.govt.nz to set up your direct debit authority.    
 
Rental Market
The volume of prospective tenants booking in to view properties in August has reduced from July however this correlated to a reduced number of properties available and our vacancy rate was very low as tenants choose to stay put over winter.  With the slowing of the sales market in the 3 main centres (Auckland, Wellington and Christchurch) the regions, such as Nelson, Tauranga and Hamilton are remaining steady as buyers look to the regions for more affordable homes.  Investors are still seeing value in the Nelson/Tasman market and this is reflected in the number of Owners either living outside New Zealand or who live nationally outside of Nelson.
The median rent for Nelson/Tasman across all rental dwellings in August was $380.00 (NZ Property Investor August 2017) an increase of 6.11% for the 12 months ended August 2016
Haven Property Management continues to return high occupancy levels (95%) and low arrears percentages (0.01%) to its Owners as we strive to maximise returns.
 
From the team at Haven Property Management.

1 August 2017 Newsletter - 1st Aug 2017

1 August 2017 Newsletter August 2017

Hello,
 
We have started the month of May with a stunning blue sky day in Nelson, and a very chilling morning with snow on the hills. It is nice to leave April behind, it was a wet month with over 100mm of rain in the Region, mostly around the Easter Holidays.
 
Autumn To Do List
Before we head into winter, autumn is a good time to get the gutters and downpipes cleaned at your rental property, especially if you have a number of trees around the property whose leaves may clog up the gutters. A full or overflowing gutter may force water back up into the property, and cause water damage. We like to try and avoid this. Please let your property manager know if you would like them to book in this service.
With the cooler autumn days comes an influx of rodents into properties looking for some warm shelter. We have already received a number of calls from tenants about their new furry occupants. Our advice to the tenants is to put down some mouse traps, or lay some bait for the rats. More often than not, this is usually enough to deal to the problem. If it is a bigger infestation we may contact you to organise a pest control expert to tend to the rodents.
 
Rental Market Update
As we head into the winter rental market the enquiries for rental properties are starting to slow down at the top end of the rental market in Nelson ($500+ per week).  There is still steady interest for properties around the $350 price range, with insulation and heating the top of tenants’ requirements at this time of the year.
 
Properties on the Market.
If you are looking at adding to your property portfolio there are a couple of properties that are either on the market, or will be shortly that might be worth considering.
2/54 Seymour Street, Nelson.  Tidy, well presented two bedroom house in great location within walking distance of CBD. Heat pump. Rent $320 per week. For Sale by Deadline sale 16 May 2017. Haven Realty – Darryl Marshall.
 
65 Marlborough Cres, Richmond. Two double bedroom unit in tidy condition and in a great location. Free standing, lockable, single garage with an auto door opener and off street parking for two vehicles. Private Sale by Deadline Sale 2 May 2017 offers over $375,000.
http://www.trademe.co.nz/property/residential-property-for-sale/auction-1306579045.htm
 
4/17 Beach Road, Tahunanui, Nelson – new to the market two bedroom spacious unit walking distance to the beach and cafes. Single garage. For Sale by Deadline Sale 23 May 2017. Haven Realty – Darryl Marshall.
 
From the Team at Haven Property Management
 

1 July 2017 Newsletter. - 1st Jul 2017

1 July 2017 Newsletter. New Property Manager

We are pleased to welcome Ginnette Smythe to the role of Property Manager. Ginnette is from Nelson and combines a good honest down to earth approach with her extensive local knowledge.  She has sound working experience of the industry and keeps herself up to date with the changes to the Residential Tenancies Act.  Ginnette prides herself on going the extra distance with her clients to ensure she achieves the best possible outcome.
Ginnette has a varied background having worked within a range of industries including education, counselling and the arts.
Ginnette is always on the go ensuring she gives the very best level of service. She enjoys all that Nelson has to offer – the arts, walking, outdoor lifestyle and of course the people and our fantastic climate.
 
New Manager
Due to the resignation of Jeanette Aspin, who leaves us to travel abroad, Chris Varcoe has been appointed to the role.  As this is an internal appointment it is business as usual with the transitioning of properties to Ginnette’s management being seamless and commencing 1 July 2017.
 
Rental Market.
The first month of winter has seen strong demand for properties across the region.
The Median rent for Nelson/Tasman across all rental dwellings in June was $370.00 (NZ Property Investor June 2017).
Nationally the average rental increase for the 12 months ending June 2017 was 3%. There continues to be strong enquiry from Auckland and Christchurch as Nelson continues to attract those looking for the right balance of work/ lifestyle.
Here at Haven Property Management we are proud to advise that for the month of May we had a 99% occupancy rate and an arrears rate of 0.24% (over 6 days)
 
 

1 June 2017 Newsletter - 1st Jun 2017

1 June 2017 Newsletter Hello
 
We are heading into the depths of a Nelson winter, which means shorter days, and more time hibernating inside and watching the latest series on Netflix. However it is a stunning time of the year with crisp clear mornings, snow on the ranges and a very calm Bay. 
 
Rental Market Update.
The Winter rental season is here in Nelson/Tasman and we are seeing a surplus of properties on the rental market. Currently listed on Trademe there are 190 properties available for rent  in the Nelson Tasman region. With very few tenants on the move in winter this makes for stiff competition. As always at this time of year, insulation, heating and sun are at the top of the tenants requirements. If your rental property has no heating and poor insulation it could sit for a while at this time of the year, which could be costly. It would be worth investing in some good insulation and heating to improve your asset and also get your property rented quicker. Let your property manager know if you would like them to organise quotes for a heat pump or insulation.
 
Rent Increases
At Haven Property Management we recommend regular rent increases for your property. By regular we mean at least once a year, regular increases are normal and healthy. If you have a good long term tenant, we always take this into consideration when suggesting the rent increase. In our experience a tenant will not move from their rental property for a $10 increase. We also give them plenty of prior notice - 60 days/two months.

Why do we suggest regular rent increases?
 
Two main reasons - A tenant is going to be able to budget much better for smaller regular increases rather than receiving an unexpected large $50pw increase and increasing annually means that once the first increase is done the tenant will just come to expect an   increase around that time every year. 
 
Happy tenants don’t move - A rent increase is normally the last straw, rather than the sole reason, that pushes a tenant to give notice. Just as you don’t want to rock the boat with a rent increase, your tenant is not likely to want to uproot his entire home for one single reason. If your tenant is generally happy with the tenancy then they are more likely to stay irrespective of the rent increase. How do we keep your tenants happy? Dealing with maintenance and repair issues promptly, not intruding on your tenant’s privacy, ensure that we handle disputes and issues professionally. 
 
The second reason is to ensure (if your property is an investment property), that it is getting fair market rent. This is most important when you eventually come to sell your property. We are currently seeing a large number of out of town investment  buyers purchasing properties in Nelson. They always look at the condition of the property along with what the current rent is. If you have not had a regular rental program in place and your property is under market rent by $50 - $60 per week, this could end up costing you thousands of dollars at sale time if the buyer is working out their return on investment. 
 
Please feel free to get in contact with your property manager or our new manager if you have any questions about the rent on your property. We also appreciate that at the end of the day it is your choice whether you would like the rent increased. We just want to ensure we are doing our job as your professional property manager by keeping you informed on what the market rent is for your property.
 
 

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