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Tips for landlords to get through the Auckland flooding

Here is your tip sheet for how to manage your rentals if they have been damaged by flooding.

Monday, January 30th 2023, 3:46PM

The Auckland Property Investors Association (APIA) has outlined information for landlords affected by Auckland’s flooding.

Given the extent of flooding over the weekend, APIA expects many landlords to be knee-deep in remedial response. The coming weeks can be particularly distressing for anyone involved in the residential tenancy space.

There will be moments when you are called upon to make tough choices. Remember always to be kind, prioritise optimal long-term outcomes over easy, quick fixes and carry on with the perspective that (most) people are motivated by what protects them, not what harms you.

In the meantime, we have some general information to help you through the initial response stage. Remember to adopt a triage mindset and prioritise your tenant's safety first and foremost:

• First response tips from APIA president Kristin Sutherland Watch here
How to tell if yours is a sudden or hidden gradual water damage
• What does loss of rent insurance actually cover?
• Termination and rental abatement rules following the destruction of premises (s59 of the Residential Tenancies Act). Note the following: 

o If the property is destroyed or so seriously damaged that it is uninhabitable: 

 Either party can terminate the tenancy with a written notice; for the landlord, it is a 7-day notice, and for the tenant, two days.
 Rent has to be abated accordingly (remember to document the abatement clearly).

o If the property is partially destroyed or part(s) of it is so damaged as to render it uninhabitable: 

 Either party can apply to the Tenancy Tribunal to have the tenancy terminated
 Rent has to be abated accordingly.

• Note the rules on retaliatory notice, especially if you are terminating a tenancy in the short term (maximum penalty $6,500)

Useful accounts to follow for updates on the flood, emergency response and available support:

Auckland Emergency Management
Auckland Council
Chlöe Swarbrick

Useful information to share with your tenants, especially those who are at risk or suffer financial hardship:

Tags: Auckland Auckland Council

« Tribunal decisions interfering with landlords rents Five tips for new property investors’ success »

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.14 6.75 6.39
ANZ 8.64 7.74 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.14 6.79 6.65
ASB Bank 8.64 7.14 6.75 6.39
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.14 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.74 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 6.79 - -
Co-operative Bank - Owner Occ 8.40 6.99 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.49 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.89 6.55 6.35
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.69 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.74 7.35 6.99
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 7.99 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 6.99 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.65 7.25 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.74 ▼7.09 ▲6.95
SBS Bank Special - 7.14 ▼6.49 ▲6.35
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.14 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 7.79 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 6.99 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - 6.55 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.84 7.35 6.99
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.24 6.75 6.39
Median 8.64 7.19 7.17 6.65

Last updated: 12 June 2024 4:04pm

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