Comments on: The Press investigates Christchurch housing

By: pq

pq — Thu, 28 Feb 2013 07:35:10 +0000

A guide to the rip off landlord in Christchurch.
Assuming rental to earthquake refugees, three bedroom home, nice place , animals allowed, best quality firewood provided . Remember that the property supervisor has to juggle all sort of peoples calendars and guide people in and out and attend to them. The rental down time is about 35 to 40% because it is difficult to capture clients who do not overlap. Most were only in the house two weeks or so. The Insurers paid us about $800 per week . Taking out down time the return was about $500 per week.
In reflection it would be better to have a client worth $400 and not have to supply electricity, internet , and wood, and the risk, but this was the price I had to pay to be able to get back into the house when we came back home from Bangkok .
Most of the costs below would be there whether tenanted or not, but I just list them here from the journal ledger so we can get real about the rip off landlord
Costs per month
Rates = $120, // Insurance = $95 // Internet Telstra Clear = $110 // Repairs and Maintenance general = $40 // Property supervisor attending to maintenance and tenant requirements = $150 // Power and logburner wood in Winter =$220 [ yes they will keep the place at 25degrees ] and that heatpump will be on 24 hours
That’s about 25% of the total income per month . Don’t believe me send for my journal ledger. And as I said above, unless you give them good things they will find them elsewhere, massive rental crisis. Maximum net return available for one year =$18,000 // asset value = $400,000
Return = 3.5%

By: pq

pq — Thu, 28 Feb 2013 07:09:22 +0000

I don’t really think we can say [ quote Farrar]
“Well done to The Press [ Christchurch] for doing a comprehensive investigation and going beyond the headlines.”
They Press are only about twelve months behind what everyone down here already knew, and it was the Press that carried all the idiotic sob stories. I did my own investigation about this time last year. Apart from following local availability , reviews of Trade me rentals showed there were hundreds of accommodations.
I gave up trying to rent out my nice three bedroom home for $400 before I went overseas and opted instead for short term rentals to earthquake refugees. Even though these people were not paying a dime for the accommodation , [ Insurance paid] their demands and whimsy were quite injtriguing. Many of thenm told me they had plenty of choice.
What is lacking is the the four bedroom home at $250 per week. Well golly gee, what do you know, and that’s what all the sad stories in the Press were about . Four children two dogs two cars, many friends Wanted nice home in good area at $250 or less.

Eric Crampton had a look at it and found the same

By: hj

hj — Wed, 27 Feb 2013 01:38:27 +0000

On other government policy issues, SWG recommendations include:

- A much more strategic and integrated approach to policy generally.

- Serious consideration of the impact of the level and variability of immigration on national saving, and the impact that this might have on the living standards of New Zealanders. There are indications that our high immigration rate has pushed up government spending, house prices and business borrowing.

- Improving data on household and business saving.

http://www.treasury.govt.nz/publications/reviews-consultation/savingsworkinggroup/pdfs/swg-report-jan11.pdf

By: Auberon

Auberon — Wed, 27 Feb 2013 01:31:57 +0000

The very un-Reverend Mike Coleman will be apoplectic. How dare evidence get in the way of his dingbat scaremongering?

By: peterwn

peterwn — Wed, 27 Feb 2013 01:13:47 +0000

This is outrageous. The EPMU and CTU must immediately send a goon squad to Christchurch to sort out the Press and its staff.