Theres a couple of interesting articles I was reading tonight that I thought I would share. The first one relates to debt collection numbers being on the rise and the second one is about it bieng cheaper to rent then to buy again.
http://msn.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10606518&ref=rss
http://msn.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10606526
Motivation -
We all want it, need it and desire it. However, it tends to wax and wane for many of us and at times needs a ‘rev up’ or ‘refill’ to give it us back the ‘buzz’ (or at the very least to keep the buzz going - think of it like filling up with gas).
I am currently looking around at events and the like which I will be attending to ‘keep my buzz going’ - and when I decide on them I will share them with people.
Stayed tuned.
Shayne Thurston
Lambton Property Management
There is a noticeable difference in my tolerence of a tenant when they call us to let us know rent will be late. Take today for example - at 9.05 I answered a call from a tenant - they explained to me they had stuffed up and forgotten to transfer money to the account their rent went out of. They then told me they had now transferred the payment to us by interent banking. Then they emailed me the screen print of the payment.
My attitude to this thankful and forgiving.
Take the tenant I called this morning after their rent had not come through. They told me that the bank had made a mistake and it should have been there. My attitude wasn’t as forgiving. After asking them what bank they used and what branch and nto really getting an answer I explained to them that unless it was dropped in to the office today by 4pm, we would start ‘the process’. Did they show? No. Was I surprised? No.
The difference I have noticed is that if a tenant contacts us straight away, the reason tends to be true… if we have to chase them, odds are its not.
Shayne Thurston
Lambton Property Management
Why can’t we as landlords simply give a tenant notice to vacate as per the Tenancies Act and have them go? Why do tenants have the right to appeal to say “No we won’t go”? Surely as the landlord, if you want the tenant out of your property and give them the required legal notice that should be the end of it?
It boggles the mind.
In recent news (http://nz.news.yahoo.com/a/-/mp/5763819/tribunal-rules-for-housing-nz-in-eviction-case/) Housing New Zealand had to go to the Tenancy Tribunal to have eviction notices upheld. This in itself is really annoying. Yet again, I cant help but ask.. If you give the tenant notice to vacate under the Residential Tenancies Act (and they are not in a fixed term lease) then why do they have the right to appeal that. Whether you have them as tenants is surely your choice?
What I found even more annoying was that the people being evicted had a QC as their lawyer and that he reprsented them at the Tenancy Tribunal. .
Whats more, they are now appealing the decision.
Its simply mind boggling.
Shayne Thurston
Lambton Property Management
After some time writing an ad for a newsletter today, I took some time to reflect on writing good ads.
For renting a property there are a number of things that must be in the ad and others items that help.
Obviously, the suburb is crucial, so is the number of bedrooms. While some people think that you can leave the price out - you can’t. Most people simply jump the ads that dont mention price.
Include things such as heatpumps, dishwashers, decks, parking - In Wellington, parking is a plus, so if its there include it.
Dont mention things like.. Only gets afternoon sun, or 20 minutes to the bus. The sun is something you can discuss with people when they are there (and if the sun is very important to them - they will ask). Most people are capable of quickly sussing out the hact there is no bus there. However if its really close to transport, mention that.
I suppose in short, Suburb, Price, Parking, Whiteware etc and any other good points. Dont play up the bad points - what your ad is to do is to get people in the door, then when they are in the door you can talk to them about those things.
Shayne Thurston
Lambton Property Management
I have, as of late, become addicted to infomercials - all those perfect people, with their amazing results in such a short time, with their perfect teeth and outfits that look like they came from the 80’s - its like watching some old Pleasantville style TV show where they try to sell you stuff. Currently on TV is one for something that closley resembles Natural Glow but isn’t.
Anyway… just like Plasantville, all these people must live in one place. A great place where everyone has several science degrees and where ground breaking bleeding edge research is done - as everyone knows the latest in depth scientific facts about the products - a place where the sun always shines, where the grass is very green, where dentistry is free (I did mention the teeth earlier?).
I find infomercials just fascinating. I am really not sure why, but I do. Admittedly I have never brought something from an infomercial, but I just seem to be hooked - What I find truly amazing is that more and more infomercials have small parts redone to target NZ - surely there can not be that many people awake at this time of night eagerly clucthing their credit cards, waiting to buy their ‘not’ Natural Glow or the Pilates Hoop?
Shayne Thurston
Lambton Property Management
Today was a motivating day. I had a coffee with someone who is becoming a very good friend of mine (that itself was nice, but the coffee was not the point of this blog). She has been through all sorts of hard times lately - marriage break up, intense IRD audit, the works. Now most people would be glum or at least a little down beat (and don’t get me wrong shes had her bad days), however she is not. She is making the best of the situation - getting going with new business ideas and a fresh burst of direction in her life. Its really motivating to see. I left our coffee date feeling motivated and upbeat - its great. I really get a good feeling when i spend time with someone who has made the best of a bad situation and is succeeding.
Shayne Thurston
Lambton Property Management
I was reading the blog of a good friend one - ok one of my very bestest buds, even though she thinks Northern England is great… no one is perfect :)…. ANYWAY back to the topic…. She has written a simply fantastic blog on the 50 reasons to be sensible which I though I would share.
“… the Dom Post came out yesterday with their ‘50 tips to ride out a recession and still have a life’. Now here, interestingly enough - discussing interest rates with your bank was all the way down at 46 while watching what you spend came in at number 11 - both of which are going to have a bigger impact on cash flow than anything else such as;
You can read the rest of this if you go to her blog www.avalonsguide.com/anab
Shayne Thurston
Lambton Property Management
The Department of Building and Housing has written an interesting article (no I am being serious). Its helpful and slightly on the side of the landlord. http://www.dbh.govt.nz/landlord-enewsletter-article-9-1
One of the ongoing debates with tenants is the issue of mould. Unless we are convinced something related to the property has caused the mould we tend to be quite aggressive about getting them to clean it off (or getting it cleaned and billing them).
“A tenant’s sense of clean and tidy conditions could be different from the landlord’s. Particular behaviors of the tenant may create excessive mould, damp or insect activity. ” Fantastic line. The article does go into things that as a landlord one should do to minimise the conditions that lead to mould, however it does admit that yes tenants can actually be responsible for it.
Shayne Thurston
Lambton Property Management
Insurance is normally a hot topic around our office. We often encounter situations where our clients insurance companies are playing hard ball or doing their level best to be difficult (ok ok so sometimes we are really surprised and really happy when an insurance company is really helpful - and when it does happen I tell everyone).
Just having insurance is not good enough - you need to have the RIGHT level of insurance. No ifs, no buts, no maybes, you just have to. Questions I ask for our places (and sometimes get uptight and argumentative of when I dont get the answer I want) are:
1: Does it cover damage by the tenants or people known to them?
2: Does it cover gradual damage or a slow leak - increasingly hard to get as many companies use the soft option of saying “tenants just wont tell you” - the repsonse is “If its a slow leak they wont notice!”
3: Is there sufficent liability cover in there just in case you get sued? (Yes it does happen - not to anyone I know (touchwood) but it happens) - for example if your tenant falls through your deck, or off your deck, that sort of thing.
4: Are there any “if the property is tenanted” exclusions? I know this sounds stupid, but all to often I read through apparent landlord polices to see “Section1:C is not covered if the property is tenanted”.
Also I want to know, exactly what their complaints procedure is and what is their timeline for handling complaints? (Not that I start of expecting the worst when I make a claim or anything…. Though this does mean I am not normally disappointed).
Thats my immediate five second thought on insurance for the night.
Shayne Thurston
Lambton Property Management
