Prices continue to hold up around the country with the median price for residential homes reaching a national record of $562,000 in October – a 6.0% increase on the same time last year. Similarly, New Zealand excluding Auckland experienced a record median price of $479,250 an 8.9% increase since October 2017.

The median price in Auckland increased by 1.8% year-on-year to $865,000 – this is the highest median price for the region in 7 months. Additionally, 5 regions achieved a record median price...

Facts

The Landlord sought costs, which included the insurance excess for meth decontamination work, from the Tenant. The Landlord had not done a pre-tenancy meth test. The tenancy was terminated by a 90-day notice and, a few weeks after termination, the Police found substances at the premises which were considered to be meth and equipment which were associated with meth use. The Landlord tested the premises for meth and the results ranged between 0.47ug/100cm2 to 15.89ug/100cm2.

The Landlord’s ins...

Taking a pet-friendly approach to rental property can deliver significant benefits to landlords - if done properly, according to one property management company.

While 67% of New Zealanders own pets, just 13% to 14% of landlords allow tenants in their rental properties to own pets.

But a decline in home ownership means more New Zealanders are renting - and many of them have pets but struggle to find rental properties that will accept them.

There is now a growing movement in support of pet-friendly...

A survey of 816 rental property owners shows that 49% would like their tenants to stay in the property for a very long time as they have no intention of selling. Another 12.7% would like them to stay for at least the next 10 years after which they may start thinking about selling the property.

The results indicate that a majority of rental property owners can offer security of tenure for tenants who value this. The NZ Property Investors' Federation (NZPIF) advices prospective tenants, who would v...

On the 27th April 2017 at the Tenancy Tribunal in Dunedin, adjudicator Wilson made a ruling on a case that has sent alarm bells ringing and many think the ruling was grossly unfair. The former tenant Natalie Parry lodged a claim for a refund of rent after she found out that the property she was renting was not fully compliant. The landlord, Vic Inglis was oblivious that there was anything wrong.

The property in question was personal and precious to the landlord. It had been the family home for 1...

Rising yields suggest the residential property market could be returning to fundamentals, where income becomes more important than capital gain for investors

The residential property market could be at an important turning point for investors as rental yields start to rise.

A rental yield is a standardised way of comparing the potential gross income returns different properties could produce for investors. It is the amount of rent a property could potentially generate in a year expressed as a perc...

It’s been a long time coming but the much anticipated new meth testing and decontamination standard is finally here – and it's good news for landlords.

Standards New Zealand released the new testing and decontamination meth standard, which covers properties used as meth labs as well as properties where meth has been used, today. The most significant change in the new standard is that a new contamination level of 1.5 micrograms per 100cm2 limit has been set.

Under the old guidelines, the limit was...

The Health and Safety at Work Act 2015 (HSWA) came into force on 4 April 2016.  Under these rules, landlords (and their property managers) owe a duty of care to ensure the health and safety of everyone involved with or affected by work undertaken on their property. The HSWA applies to both commercial and residential premises.  This article highlights keys to ensuring compliance under the new laws and avoiding harsh penalties.

What duties are owed and to whom?

The HSWA applies to all...