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481 posts

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  Reply # 1658053 26-Oct-2016 11:40
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Not surprised at the competition. Was stressful when we were looking to rent for the first time in Wellington in our mid 20s and took a while to find somewhere. We'd had enough of flatting with strangers then my parents retired, and sold up and downsized so gave us all their old furniture/appliances which meant we could rent a place and not have to go out and buy everything to furnish it at the same time.

 

Was very competitive. Definitely remember going to viewings and handing in forms along with several other groups, then just never hearing back. Difficult not to take it personally too. We were 25 and 28 with decent jobs and good references from bosses and previous landlords (had been living in owner-occupied flatting situations so references from landlords who had actually lived with us) and couldn't understand what people were finding wrong with us. One place we were really keen on, and we called the landlord a couple of times after viewing saying so and that we could come around and pay the bond immediately but he just said he was having another viewing the next weekend so wanted to "give other people a chance and see who else comes." Having not been through it before it came as a shock that someone was turning down money like that and waiting another week in case anyone else turned up so put it down to him probably not wanting young people because he assumed they would have parties and wreck the place. But it wasn't like we were 19 year old students and presumably we'd be looking closer to town if we were like that, not out in Johnsonville. Eventually we got a text that he had chosen someone else.

 

Eventually got lucky as I happened to notice an ad for place that seemed to have everything we wanted within about 5 minutes of it going up on Trademe so I was first to call the landlord, and first to view it. We were really keen on it and after a call to his wife to check with her he was keen enough on us that we signed up on the spot. Seemed the tenants had unexpectedly handed in their notice early and he didn't want the hassle of seeing loads of possible tenants so it worked out well for him too. We've been in the place 4 years now and no plans to move until we're able to buy. It was sold towards the end of the 3rd year but thankfully to landlords who retained us. Seems too much hassle to go through all this and the actual packing, moving and unpacking just to rent again.

 

Ironically, we happened to notice the other place was up for rent again after a couple of months so it must not have worked out with whoever he chose in the end.

 

 




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  Reply # 1658094 26-Oct-2016 12:35
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joker97: Aami is Australian dude

 

https://www.youtube.com/watch?v=NbLhHtaVIO4 

 

 





Mike

 
 
 
 


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  Reply # 1658229 26-Oct-2016 15:06
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MikeAqua:

 

joker97: Aami is Australian dude
 

 

https://www.youtube.com/watch?v=NbLhHtaVIO4 

 

 

 

Sorry bro.





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  Reply # 1658342 26-Oct-2016 16:28
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You didn't note which area you are looking at, myself and SWMBO are currently looking at relocating back to the 'burbs. Auckland North Shore.

 

Fairly hefty rents, nothing decent under $600.0 for a 3 bedder + garage.

 

Anything less than $600.00 is a bit murky, has designs fromm the 70's, or in a cramped cul-de-sac, nothing we really wanted to make a viewing for.

 

Was booked for a viewing at one, last week, and we were called 30 minutes before with the owner saying that they had a renter willing to pay $50.00 more than advertised..

 

Trademe is no longer the primo site for obtaining rental listings, realestate.co.nz has a far more expansive rental listing. But cant sort by pets . :-(

 

 





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  Reply # 1658371 26-Oct-2016 17:14
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tdgeek:

 

alasta:

 

Whereabouts was this?

 

It makes you wonder if rents are about to increase dramatically to catch up with the rise in house prices. When investors stop getting their return from massive capital gains then something dramatic is going to have to happen.

 

 

I don't think so. House buyers can and will pay more if they want to, renters in general are more likely to be income limited. So, the market would see the ROI drop, and if house prices stabilise, investors will look elsewhere. House prices may ease. Buyers and renters will look to other towns and locations.  

 

 

I think you will see a squeeze at both ends to be honest. But yes there is only so far the rent can go, its mainly dictated by the market. Otherwise tenants will move decide to move out because they will find something better.

 

Property investment over the last few years provided amazing capital gains. Even if the ROI from the property was flat-ish.  We have a massive problem now where the housing stock market cap is so high, the sharemarket looks like a joke. Which begs the question, where is all the money coming from to pay for and service all this debt. Oh yeah if you thought first home buyers have a problem.... you would just be scratching the surface of the mess that is lying underneath.






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  Reply # 1658411 26-Oct-2016 17:58
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SepticSceptic:

 

 

 

Trademe is no longer the primo site for obtaining rental listings, realestate.co.nz has a far more expansive rental listing. But cant sort by pets . :-(

 

 

Maybe for Auckland?

e.g., realestate.co.nz for Wellington, Miramar = 1 listing vs Trademe = 13 listings

 

 


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  Reply # 1658511 26-Oct-2016 20:17
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SepticSceptic:

 

You didn't note which area you are looking at, myself and SWMBO are currently looking at relocating back to the 'burbs. Auckland North Shore.

 

Fairly hefty rents, nothing decent under $600.0 for a 3 bedder + garage.

 

Anything less than $600.00 is a bit murky, has designs fromm the 70's, or in a cramped cul-de-sac, nothing we really wanted to make a viewing for.

 

 

 

 

Is this per week or per month??


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  Reply # 1658515 26-Oct-2016 20:19
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in AKL will be per week





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  Reply # 1658520 26-Oct-2016 20:27
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joker97:

 

in AKL will be per week

 

 

Thanks. I guess I've been away long enough now for a new kind of normal to set in. In Vancouver, $2200 a month is reasonable. That will get you a one bedroom apartment in an apartment block with a shared laundry, no outdoor space, and no parking. To get a 3+ bedroom home a la Kiwi style you'd expect to pay somewhere between $5,000 and upwards a month. Plus utilities and everything else, as is the case in NZ. With all the comparisons between Auckland and Vancouver, both being overheated real estate markets, I assumed that rentals would be much of a muchness. 


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  Reply # 1658537 26-Oct-2016 20:44
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It's scary to think that a 20% increase in my rent would have the same impact on my finances as a 40% increase in my grocery bill, a 300% increase in the price of electricity, or a 500% increase in the price of fuel. I think inflation adjusted rental increases will be at least 20% over the next three years given the apparent high demand and short supply. 


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  Reply # 1658662 27-Oct-2016 00:01
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joker97: Aami has renters insurance (last i checked 100 bucks a year. No they cannot enter at will. What are you taking about.

 

Tell my ex-property manager that. Hence why I prefer the NZ approach where noone gets a key but you.

 

Also on the insurance, there's a clever exclusion in the PDS. Specifically, you are not covered for theft by anyone who enters the house that has authority to enter it - this includes obviously tenants, but also the real estate agency and their employees, tradespeople engaged by the real estate agency, and randoms being shown through at inspections. Hence, the contents cover isn't worth a damn because if they can pin it on one of those categories of people, claim denied. And its pretty easy to claim it was probably one of those groups of people.


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  Reply # 1659011 27-Oct-2016 13:34
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Kyanar:

 

joker97: Aami has renters insurance (last i checked 100 bucks a year. No they cannot enter at will. What are you taking about.

 

Tell my ex-property manager that. Hence why I prefer the NZ approach where noone gets a key but you.

 

Also on the insurance, there's a clever exclusion in the PDS. Specifically, you are not covered for theft by anyone who enters the house that has authority to enter it - this includes obviously tenants, but also the real estate agency and their employees, tradespeople engaged by the real estate agency, and randoms being shown through at inspections. Hence, the contents cover isn't worth a damn because if they can pin it on one of those categories of people, claim denied. And its pretty easy to claim it was probably one of those groups of people.

 

 

I think you have it slightly off - I am not getting renter's insurance so that it can be declined when the property manager steals stuff. That's for the police to sort out. THe renter's insurance is so that if me, my wife or kids accidentally burnt the apartment complex down I don't get sued.





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  Reply # 1659012 27-Oct-2016 13:35
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And for a 100 aussie bucks, it really isn't a lot of money to cover that.





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  Reply # 1659091 27-Oct-2016 15:20
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Elpie:

 

joker97:

 

in AKL will be per week

 

 

Thanks. I guess I've been away long enough now for a new kind of normal to set in. In Vancouver, $2200 a month is reasonable. That will get you a one bedroom apartment in an apartment block with a shared laundry, no outdoor space, and no parking. To get a 3+ bedroom home a la Kiwi style you'd expect to pay somewhere between $5,000 and upwards a month. Plus utilities and everything else, as is the case in NZ. With all the comparisons between Auckland and Vancouver, both being overheated real estate markets, I assumed that rentals would be much of a muchness. 

 

 

Yeah, the new normal is now quite abnormal :-)

 

However, you would need to compare average income in both areas to get an idea of the difference.

 

Assume we are getting $10000 gross  per month, combined.





My thoughts are no longer my own and is probably representative of our media-controlled government


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