I came to NZ in 1991. I had lost my appetite for investing after the stock market crash of 1987 and the housing market crash in England in 1988. I had $60k in my current account but was too scared to do anything with it. Then BOB Jones’ book on property investing showed me that there was very legal way to print money.
INVEST IN RENTAL PROPERTY.
You don’t even need a down payment. Use your house as collateral and borrow from the bank. The tenant pays off your mortgage and you keep the tax free capital gains. You go back the bank and borrow more as your collateral is worth more now. You are happy and so are the banks as it is risk free. If the tenant finds it hard to pay the rent the government helps them out allowing the rents to go up even more.
I suspect many of our politicians like Christopher Luxon who have invested in property don’t want to kill this golden goose. He was scathing about conflict of interest a few weeks ago. Anybody who has invested in property should recluse themselves from any discussion on property and
There is a way to bring rents and property values down. It will bring down our whole economy too.
If all renters unite and refuse to pay any unfair increases in rent, there is nothing landlords can do. Tenancy tribunals will be overwhelmed.
This is not a novel idea. Gandhi pioneered the art of peaceful protest -Satyagraha. He brought an empire down to its knees.
This is how it works in Germany with a high percentage of renters, good quality housing stock and strong laws protecting tenants: Apart from protection from unilateral landlord contract termination (the landlord must prove that he/she needs the property for their own use), the local authority determines a “fair rent” bandwidth for each property category. A landlord can deviate from this bandwidth under exceptional circumstances, but the reasons need to be robust. Rent increases are capped at 20% over 3 years, but *only* to achieve parity with the defined *fair rent*.There is no rental “WoF”, the assumption being that a rental property is fit for intended purpose, the definition of which is established case law. If a property deviates from a given standard e.g. inability to heat the property to a defined temperature at reasonable cost, case law also determines the rent rebate due to the tenant until the shortcoming is resolved. This is where NZ property law should be heading.
Rent is too high? The rents are going up in primarily in response to interest rate increases which are doubling rents are not doubling in response to this huge increase.
Sure limit rent increase but also limit interest rate increases at the same time for existing landlords with tenants and mortgages stop the rent increases stop the interest rate increases. If the Greens would stopped the greenwashing for political score points and addressed the issues in a comprehensive manner and promoted policy that is fair and equitable with a win win for all parties they will struggle to govern in a way the strengthens health and welfare outcomes for all whenua.
Hang on a minute. Let us look at the facts.
I came to NZ in 1991. I had lost my appetite for investing after the stock market crash of 1987 and the housing market crash in England in 1988. I had $60k in my current account but was too scared to do anything with it. Then BOB Jones’ book on property investing showed me that there was very legal way to print money.
INVEST IN RENTAL PROPERTY.
You don’t even need a down payment. Use your house as collateral and borrow from the bank. The tenant pays off your mortgage and you keep the tax free capital gains. You go back the bank and borrow more as your collateral is worth more now. You are happy and so are the banks as it is risk free. If the tenant finds it hard to pay the rent the government helps them out allowing the rents to go up even more.
I suspect many of our politicians like Christopher Luxon who have invested in property don’t want to kill this golden goose. He was scathing about conflict of interest a few weeks ago. Anybody who has invested in property should recluse themselves from any discussion on property and
There is a way to bring rents and property values down. It will bring down our whole economy too.
If all renters unite and refuse to pay any unfair increases in rent, there is nothing landlords can do. Tenancy tribunals will be overwhelmed.
This is not a novel idea. Gandhi pioneered the art of peaceful protest -Satyagraha. He brought an empire down to its knees.
This is how it works in Germany with a high percentage of renters, good quality housing stock and strong laws protecting tenants: Apart from protection from unilateral landlord contract termination (the landlord must prove that he/she needs the property for their own use), the local authority determines a “fair rent” bandwidth for each property category. A landlord can deviate from this bandwidth under exceptional circumstances, but the reasons need to be robust. Rent increases are capped at 20% over 3 years, but *only* to achieve parity with the defined *fair rent*.There is no rental “WoF”, the assumption being that a rental property is fit for intended purpose, the definition of which is established case law. If a property deviates from a given standard e.g. inability to heat the property to a defined temperature at reasonable cost, case law also determines the rent rebate due to the tenant until the shortcoming is resolved. This is where NZ property law should be heading.
Yes exactly and they will raise taxes on people who have money invested in rental property.
They are a straight out communist party.
Rent is too high? The rents are going up in primarily in response to interest rate increases which are doubling rents are not doubling in response to this huge increase.
Sure limit rent increase but also limit interest rate increases at the same time for existing landlords with tenants and mortgages stop the rent increases stop the interest rate increases. If the Greens would stopped the greenwashing for political score points and addressed the issues in a comprehensive manner and promoted policy that is fair and equitable with a win win for all parties they will struggle to govern in a way the strengthens health and welfare outcomes for all whenua.