About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Sunday, January 19th, 11:09AM
rss
Latest Headlines

Property investors losing out on rent

Saturday, September 3rd 2011, 6:57PM

by Philip Macalister

Property investors are losing money from delinquent tenants because of delays in getting hearings at the Tenancy Tribunal.

NZ Property Investors Federation president Andrew King said it is a big issue and needs to be fixed quickly as it is costing landlords money.

“At the moment we are losing money,” he says.

Normally landlords can issue a 14-day notice to tenants when there is a problem such as unpaid rent and apply to the tribunal for an order.



King says it was possible to get tenants out of a house in three to four weeks.

In some areas that process is taking up to three months because of delays at the tribunal.

Article continues below video



King says there are a number of reasons for tenants not paying rent, including the state of the economy, however tenants can make applications to WINZ for help.

He says news of this situation is getting known and some tenants are just having a go and not paying rent.

In some cases the tenant leaves and the landlord can chase them for unpaid rent, however some are staying put which means new tenants can’t be housed.

Housing minister Phil Heatley acknowledges there is a problem.

He says issue is about scheduling of court time and the e Department of Justice is making 10% time available to the tribunal for hearings.

« How to make money in ChristchurchWaiting for the Spring money sale »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Partners Life criticises Vitality
    “bay broker good points but I get the point about premiums increasing when sick. I have Vitality personally and I have qualified...”
    3 days ago by taka dan
  • Don't hold your breath for life insurance reform
    “That's a good observation from @JPHale there. "2% of sales" has even less meaning when you don't know if it's 2% of premiums...”
    3 days ago by Denis
  • Partners Life criticises Vitality
    “I've added Vitaltiy to a number of clients' new covers. I have also sold AIA cover without it. As with all advice it is...”
    3 days ago by BayBroker
  • Don't hold your breath for life insurance reform
    “Having read both the article and the comments I can only agree with what has been said in the comments. Further, I am...”
    3 days ago by BayBroker
  • David Whyte's 5 predictions for 2020
    “@ number 2: LOL - don't hold your breath. And besides, even if they did do it, if someone needs it they should probably already...”
    4 days ago by All hat no cattle
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 4.05 4.49
ANZ Special - 3.55 3.55 3.99
ASB Bank 5.20 3.89 4.05 4.39
ASB Bank Special - 3.39 3.55 3.89
BNZ - Classic - 3.49 3.55 3.89
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union North 6.45 - - -
Credit Union South 5.65 4.75 4.75 -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.54 3.54 3.69
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 3.97 4.05 4.39
Kiwibank 5.20 4.20 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.45 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.39 3.45 3.89
Sovereign 5.30 3.89 4.05 4.39
Sovereign Special - 3.39 3.55 3.89
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.19 4.35 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.39 3.55 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.39 3.55 3.99
Median 5.34 3.99 4.07 4.39

Last updated: 8 January 2020 3:37pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com