Summer’s top sale methods
Streamlining the portfolio is on the cards for some investors this summer, but which method will achieve the best outcome?
Monday, November 27th 2017, 10:00AM
by The Landlord
There’s a new government, which could mean a new housing market.
Labour is set to sign the Healthy Homes Guarantee Bill into law, so costs are likely to increase for landlords.
Also on the increase? Odds are that we we’ll get a capital gains tax, and maybe a land tax over the next three or four years.
Less likely are the chances that LVR lending restrictions will be removed or loosened, and the likelihood of a summer real estate boom is also much lower.
Established long-term investors may not be affected by those changes, but others will.
Those with cash flow negative properties may be considering putting their money into a more profitable investment.
And for landlords with run-down properties, the impending Healthy Homes Guarantee Bill may mean substantial costs on the horizon.
Is now the time to sell?
Prices are forecast to stay flat for the foreseeable future and listings are limited: if you’re going to make your move this could be the moment to do it.
In this month’s NZ Property Investor magazine, we talk to the experts on how best to sell a property this summer, even in a buyers’ market.
Here are Harcourts CEO Chris Kennedy’s top tips for selling a rental property this summer:
1) There’s little activity in the market between December 15 at the latest and January 12 at the earliest. Think about going to market from Waitangi Day onwards.
2) Presentation is key. If the house looks like a tip, people will move on and, for prospective investors, a messy property looks like one where tenants could be an issue.
3) Consider removing your tenants before the property goes to market if they are untidy, unhelpful or unpredictable. If you have great tenants, sell with them in place.
4) Have all the necessary paperwork ready to show prospective buyers. That includes rental history and a clear meth test.
5) If you’re seriously motivated to sell, consider an intense two-week campaign, spend money on advertising, and then take it to auction.
But to get the full run down on the best sale strategies for summer, click here to get the digital issue of NZ Property Investor magazine.
Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.
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