1 May 2018 Newsletter - 1st May 2018

1 May 2018 Newsletter Occupancy rate 97.4%   Arrears –1.08% for April 2018
Letting fee update
The new Residential Tenancies (Prohibiting Letting Fees) Amendment Bill is now at the Select Committee stage with public submissions on the bill open until the 23rd May.  Expect this to be law by Christmas with a further three months before the fee is banned completely.
Rental Market
The recent media headlines of Nelson being “a hellish market” is, I believe not accurate.  We continue to notice a slowdown in rental demand in April, however, properties are still being let to quality tenants.  The demand for fully furnished properties has noticeably reduced with high-end properties taking a longer time to draw enquiry.  As tenants notify us of their intentions to vacate, we act quickly to re-advertise the properties, with the majority let prior to the existing tenants leaving and new tenants move in soon after vacating dates. 
The median rent for the Nelson region across all rental dwellings in March 2018 was $385.15 (Tenancy Services Market rent April 2018)
With a high number of properties sales in the Nelson Tasman region continuing in April we believe that there will continue to be a shortage of dwellings available for rent.  Quality properties are still receiving higher rents and the median rent figures reflect this.
Rental Disbursement
The next rental disbursement will be on Tuesday 15th of May for mid-month and Friday 1st June 2018 for the end of the month.
From the team at Haven Property Management.

1 April 2018 Newsletter - 1st Apr 2018

1 April 2018 Newsletter Occupancy rate 97.7%   Arrears – 0.8% for March 2018
Daylight saving has ended resulting in darker evenings coupled with a cooling in temperatures. The leaves are falling so for those owners with large trees close to the dwelling we must start thinking about gutter clearing prior to winter. Easter Weekend resulted in zero call outs for urgent maintenance so a positive result.
The Government has indicated that they are looking to introduce legislation to abolish letting fees this year so by April 2019 I would envisage that we will see a change in the landscape around fees. We at Haven are working closely with industry leaders and consultants to ascertain how best to deal with the signalled changes.
Rental Market
We have noticed a significant slowdown in rental demand in March, something that has not been seen for several years. As notified last month we are still seeing asking price on most properties being achieved however the time taken to secure the best tenants is drawing out.
The median rent for the Nelson region across all rental dwellings in February 2018 was $383.15 (Tenancy Services Market rent February 2018), and the median rent the Tasman region across all rental dwellings was $377.85 a slight decrease over the last month as the rental market cools along with the weather. 
With a high number of properties sold in the Nelson Tasman region in March (118) we believe that the median sales price has not risen as with past months, demonstrating a plateau of sales prices being achieved.
As we head into winter it is timely to note that if your property is to become vacant, we highly recommend looking at securing a fixed term tenancy for 6 – 8 months to bring it in line with the strong summer market. With the Government also looking to impose a ban on more than 1 increase per annum, the summer letting period provides greater stimulation of the market resulting in higher rents being achieved.
Rental Disbursement
The next rental disbursement will be on Monday 16th of April for mid-month and Tuesday 1st May 2018 for the end of the month.

1 March 2018 Newsletter - 1st Mar 2018

1 March 2018 Newsletter Occupancy rate 99.75%   Arrears – 1.53% for February 2018
Are we seeing the effects of global warming effecting weather events making them more pronounced when they occur? Is this the new norm? Nelson Tasman has been hit relatively hard in the past month with gale force winds, heavy rainfall and extensive flooding. Fortunately, our maintained properties were not affected to any major extent however it is a timely reminder as we head into winter that precautions need to be taken. Our staff is great at identifying any issues with gutters, drains and run off so it will be more of the same with your property being cared for.
On the plus side, many lawns suffered throughout the summer and these are now bouncing back with the wetter conditions. Every cloud has its silver lining.
Following on from the appointment of Kendall last month we are pleased to introduce Michelle Ouellette to the team, recently appointed to the role of Property Manager. Michelle has a background in administration, customer relations and has managed short-term rentals. A formal introduction will be made to her portfolio clients.
Rental Market
Demand from all enquirers has slowed down over February, however, we are still seeing asking price on most properties being achieved.
The median rent for Nelson/Tasman across all rental dwellings in January 2018 was $385.00 (NZ Property Investor February 2018), a slight decrease for the 12 months ended December 2017.
We believe that the reduction is a result of more properties being used as short-term rentals over the summer and now private landlords are seeking to let properties long term again, placing more properties on the market during this time.
Enquiry has been strong from Owners wishing us to manage short-term fully furnished properties as a stop gap between summer lets. There are many downfalls to this approach. The consistency of annual returns, constant cash flow and susceptibility to misuse of properties with regard to Methamphetamine. This is not a market where we can comprehensively limit liability for our clients and costs are a lot higher, so we are hesitant to enter.
Rental Disbursement
The next rental disbursement will be on Thursday 15th of March for mid-month and Tuesday  3rd April 2018 for the end of the month.
Hot Property
3/87 Cambria Street, The Wood, Nelson
Deadline sale closing 08/03/18 at 4pm
6 Birchwood Grove, Richmond

1 February 2018 - 1st Feb 2018

1 February 2018 Occupancy rate %   Arrears – % for January 2017

Nelson lived up to its reputation for having the most sunshine hours in the country in 2017 and January looks to carry on the trend in 2018. With well above temperatures in January, coupled with a lack of rainfall both Councils imposed water bans leaving many lawns and gardens looking a little worse for wear. The one significant rain we had quickly brought the green back with a little more forecast in the next few days. 

We are excited to announce the appointment of Kendall Robinson to the role of property manager. Kendall has a background in project management, computing, and fitness industry. A formal introduction has be made to her clients.
Rental Market
The influx of people into the region continues to create strong demand in January.
The median rent for Nelson/Tasman across all rental dwellings in December was $399.70 (NZ Property Investor January 2018), a static result for the 12 months ended November 2017.
We believe that the static return is a result of private landlords under letting properties as they have not kept up to date with the market’s continual strong demand on rents.
The Government has signaled that they will review the Residential Tenancy Act in the next round of changes announced last week. Notice times to vacant, letting fees and a restriction on the allowed rental rate time frames have been flagged as priority areas. We can expect these to be moved on swiftly.
The Haven office will be closed on Monday 05/02/18, observing Waitangi Day 06/02/18 and will reopen on Wednesday 07/02/18
Rental Disbursement
The next rental disbursement will be on Thursday 15th of January for mid-month and Thursday  1st March 2018 for the end of the month.
Hot Property
2/ 18 Koromiko Avenue, Stoke
Deadline sale closing 21st Feb at 1pm with no prior offers https://www.havenrealty.co.nz/listings/residential_sale-1362034-stoke/

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.
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
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

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)

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


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