Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 | 3 


9812 posts

Uber Geek
+1 received by user: 2981

Trusted
Subscriber

  Reply # 1839882 6-Aug-2017 14:43
Send private message quote this post

Rikkitic:

 

Wiggum:

 

I guess that would mean I would have to sell up the bach. It stands empty most of the year.

 

 

Batches and second homes specifically excluded. This is about properties being kept empty for investment or other speculative purposes.

 

 

 

 

 

 

I've not met many property investors who would deliberately keep a property empty unless it was shortly to be redeveloped. Void periods cost money!






5718 posts

Uber Geek
+1 received by user: 2611

Subscriber

  Reply # 1839927 6-Aug-2017 15:14
Send private message quote this post

Not so in my experience. Many developers sit on properties for years waiting for the right moment to move forward. Large-scale investors hold onto properties for capital gains. They don't want the hassle of renting which only pays peanuts by their standards. It is much less trouble to keep the property empty until it is time to unload. This has been a common issue in cities like London (which is how squatting came about) and on the Continent. I doubt it is much different in Auckland. There will be plenty of empty structures suitable for temporary housing, which can sometimes extend for years. This does not deprive the owners of the property of their right to make legitimate use of it. When they are ready to develop or sell, the tenants can be evicted in a reasonable time frame. It has worked elsewhere.

 

 

 

 





I reject your reality and substitute my own. - Adam Savage
 


 
 
 
 


964 posts

Ultimate Geek
+1 received by user: 363


  Reply # 1840008 6-Aug-2017 16:49
Send private message quote this post

Rikkitic:

 

Many developers sit on properties for years waiting for the right moment to move forward. Large-scale investors hold onto properties for capital gains. They don't want the hassle of renting which only pays peanuts by their standards. It is much less trouble to keep the property empty until it is time to unload. This has been a common issue in cities like London (which is how squatting came about) and on the Continent. I doubt it is much different in Auckland. There will be plenty of empty structures suitable for temporary housing, which can sometimes extend for years. This does not deprive the owners of the property of their right to make legitimate use of it. When they are ready to develop or sell, the tenants can be evicted in a reasonable time frame. It has worked elsewhere.

 

 

It all depends if the investor own the property outright, or not. If there is a mortgage attached to the investment property, it will make very little economic sense to leave it standing empty.

 

Rikkitic:

 

 

 

Batches and second homes specifically excluded. This is about properties being kept empty for investment or other speculative purposes.

 

 

Well then that would create a loophole, and investors would simply say that the property is a bach.


5718 posts

Uber Geek
+1 received by user: 2611

Subscriber

  Reply # 1840077 6-Aug-2017 17:56
Send private message quote this post

Wiggum:

 

It all depends if the investor own the property outright, or not. If there is a mortgage attached to the investment property, it will make very little economic sense to leave it standing empty.

 

 

Whether it makes sense or not, there are properties that are empty. Otherwise there would be no plan to put people into them.

 

Wiggum:

 

Well then that would create a loophole, and investors would simply say that the property is a bach.

 

 

This can easily be checked, though it shouldn't be necessary since property investors are conservative types who respect the law so won't be looking for loopholes.  

 

 





I reject your reality and substitute my own. - Adam Savage
 


1922 posts

Uber Geek
+1 received by user: 608

Subscriber

  Reply # 1840299 7-Aug-2017 00:11
One person supports this post
Send private message quote this post

In some parts of Auckland, average properties were going up in value over $100K per year, which is over $2000 per week. The same property would be lucky to get more than $500 per week in rent. Also it is difficult to sell a property with tenants in it, and you have to give them min 42 days notice from an unconditional sale contract being signed. (no use if the buyer has the money available, but wants to move in sooner) And tenants don't like renting houses that will or could be put up for sale soon.

 

Also what if an investor offers a property for rent, but at a very expensive rent for that property. With the intention that no tenants will actually apply to rent it, as a means of getting around any "must rent" laws? And if any tenants do apply to rent it, the landlord could just say that they weren't successful in their application to rent the property. 

 

 

 

But again, it all comes back to not enough houses getting built due to stupid laws and regulations. If house prices were static or only very slowly rising, it would be very hard to make money from capital gains just from buying and holding a property. You would have to redevelop or improve the property to make a reasonable capital gain.






1 | 2 | 3 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Vocus New Zealand on the block as Aussies bail
Posted 23-Oct-2017 17:06


Vodafone TV — television in the cloud
Posted 17-Oct-2017 19:29


Nokia 8 review: Classy midrange pure Android phone
Posted 16-Oct-2017 07:27


Why carriers might want to embrace Commerce Commission study, MVNOs
Posted 13-Oct-2017 09:42


Fitbit launches Ionic, its health and fitness smartwatch
Posted 12-Oct-2017 15:52


Xero launches machine learning automation to improve coding accuracy for small businesses
Posted 12-Oct-2017 15:45


Bank of New Zealand uses Intel AI to detect financial crime
Posted 12-Oct-2017 15:39


Sony launches Xperia XZ1, a smartphone with real-time 3D capture
Posted 11-Oct-2017 10:26


Notes on Nokia’s phone comeback
Posted 10-Oct-2017 10:06


Air New Zealand begins Inflight Wi-Fi rollout
Posted 9-Oct-2017 20:16


The latest mobile phones in perspective
Posted 9-Oct-2017 18:34


Review: Acronis True Image 2018 — serious backup
Posted 8-Oct-2017 11:22


Lenovo launches ThinkPad Anniversary Edition 25
Posted 7-Oct-2017 23:16


Less fone, more tech as Vodafone gets brand make-over
Posted 6-Oct-2017 08:16


API Talent Achieves AWS MSP Partner Status
Posted 5-Oct-2017 21:20



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.