Otago Property Investors Association Inc

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otago@nzpif.org.nz

News & Updates

Recent updates

24-05-2009

President's May/June Report

Revised RTA Amendment Bill
 
The revised version of the Residential Tenancies Act Amendment Bill (no 2) was tabled in Parliament on Wednesday 13th of May. Through our discussions with the Minister of Housing and participation in a Department of Building and Housing meeting on the subject, we have been able to put forward the view of members on some of the controversial issues. We understand that the key differences
between the previous Bill and the new Bill are:
  • omissions of provisions that would have prohibited the charging of letting fees, limited tenant liability to 4 weeks, and introduced advocates to the Tribunal
  • inclusions of new provisions that clarify the status of the tenancy on death of the sole tenant, terminating a tenancy where the tenant permits an assault, and requiring a landlord to disclose premises previously contaminated.
To read the Minister of Housing’s media statement on the Bill released May 15th, go to https://www.nzpif.org.nz/news/view/53863.
We will now study the revised bill and prepare for submissions as part of the select committee process.
 

Cash flow positive suburbs

Members around the country have been aware of changes in the real estate market, which have meant that some cash flow positive properties are now being offered for sale. QV Insider has given us some definite proof of this with their latest figures to May 2009. They estimate that there are now 42 suburbs, which are averaging cash flow positive return according to their assumptions. By using these assumptions and scenarios, they have derived a list of suburbs nationwide, which are likely to return a positive net cash flow. Some of the best performing suburbs are North Dunedin, Revenbourne, Mt Mera and Port Chalmers in Dunedin; Harbourside, Newton and Grafton in Auckland; and Lambton area in Wellington. Go to https://www.nzpif.org.nz/news/view/53852 to understand the assumptions being made and make use of this important information. The cash flow positive suburb statistics is an output from QV Insider’s Area Analysis section. QV Insider gives you access to extensive customised area information for analysis and decision making. The Area Analysis tool allows you to research and make decisions about suburbs that you may want to invest in. You can search statistics on current median sales, rents and rental yields; understand values and trends in the area that you select.   One of the benefits for members of affiliated associations is that they can subscribe to QV Insider at a much reduced rate.

Communications Meeting in Wellington

On May 17, representatives of all the property investors’ associations affiliated to the NZPIF gathered in Wellington for the half yearly Communications Meeting. This is an opportunity to have a two-way sharing information, with representatives taking ideas and information back to their associations. As changes to the legislation affecting all property investors is currently before Parliament, Thomas Chin the NZPIF’s political lobbyist, updated members on progress. The paper he presented can be found at https://www.nzpif.org.nz/news/view/53883. Other matters discussed were the strategic direction of the Federation, membership issues, proposals being put forward for the introduction of building warrant of fitness and a star rating scheme. An update was also given by ANZ, the national sponsor of the NZPIF. The six weekly meeting of the NZPIF Executive had taken place the day before and the Regional representatives on this committee will be updating the associations in their areas.

NZPIF Conference - another registration special

Registrations for this conference to be held in Auckland on 14-16 August have been coming in well since March. To further encourage members to come and hear the excellent line up of speakers, which include Ollie Newland and Martin Hawes -property investors who have experienced previous down turns in the property cycle, another member special price of $499 has been offered until the date of each PIA’s June meeting. This is less than the Early Bird fee. I urge as many members as possible to attend and experience the benefits of networking with other keen and experienced investors as well as learning a great deal from the speakers. Go to www.propertyconference.org.nz and register at the special member fee.

 
Martin Evans
President.

Tags: federation reports

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