President's August report
28 Aug 2008
We have been encouraged by the positive response from the media to the press release on the Code of Ethics. Journalists have been interested to learn of the extent of our members’ commitment to customer service. During interviews on the subject, I have pointed out that, although the rules are laid out in the Residential Tenancy Act, the existence of the Code of Ethics effectively raises awareness of our aim to do more than the minimum for tenants.
We have been hearing from all around the country that the volume of rentals continues to increase steadily as potential vendors take their houses off the market and rent them while they wait for the real estate market to improve. Having originally been prepared for sale, these new rentals are of a high standard, and these “accidental” landlords are not always charging market rents. These factors mean that sometimes long term rental properties are remaining vacant for longer than usual between tenants. More choice and better quality accommodation is all good from the tenant’s point of view but may result in overall returns for landlords over the last few months being lower than previously.
The Residential Tenancies Amendments Bill has remained at the introductory stage in Parliament and no date has yet been set for the First Reading. However on behalf of members, we have forwarded to the Members of Parliament, who have the role of spokesperson on housing for their parties, our comments about clauses of particular cause for concern to property investors. They have indicated they are appreciative of receiving the industry perspective, which we have been able to provide.
Entries for the NZ Property Investors’ Federation/ Department of Building and Housing Landlord of the Year 2008 are starting to come in and I am looking forward to the opportunity this award gives us of profiling the professionalism of members. The presentation to the winner and the two runners up will be an exciting addition to the Conference Banquet on October 25.
I have visited Southland, Tauranga and Manawatu Property Investors’ Associations over the last two months and it always gives me great pleasure to meet members and discuss the ways in which the Federation can represent their interests at the national level. I was particularly pleased to be able to attend the meeting of the new Whakatane group, a branch of Tauranga Property Investors’ Association, as well. It is always good to see more property investors enjoying the benefits of networking and hearing good speakers on subjects, which will assist them to be better investors.
Andrew King, the Federation Vice President, will write the next monthly report, as I will be away on leave during September. I know I leave the Federation and its activities in good hands during that time. Then we will be fast approaching the Conference weekend – 24/25/26 October - and I will look forward to meeting many members at over the three days, which promise to be both entertaining and highly educational. It is not too late to ensure you are part of this spectacular event. Go to www.propertyconference.co.nz and register now.