North Taranaki leaseholders face massive rental increasesas rocketing land values force leases up.
Wednesday, February 2nd 2005, 11:28PM
by The Landlord
The news has some people living on leasehold land panicking that they will not be able to afford the increase and will be forced out of their homes.
Worst affected are 121 Urenui Domain bach owners, who have New Plymouth District Council (NPDC) property leases that are up for renewal by April 1.
Urenui bach owners pay an average $517 a year, but that is set to rise to as much as $7155.
Urenui Bach Holders Association chairwoman Julie Mace said she knew there would be an increase, but could not believe by how much. "If they go up to that price, we will want to have some vast improvements, like the roads done – it's unsealed between the baches," she said.
People living on leasehold land in the Onaero Domain, Waitara and the Junction Rd Reserve near Egmont Village, will also be affected by the rental hikes.
