To me money is there to make your life easier so if you're making life hard for yourself it defeats the purpose.. Rented places out below market rent for decades. Vacant places equal no rent, usually dollars paid out on improvements or repairs tenant's with lower rent will put up with. TradeMe fees, listing fees etc. Smarter not harder my road - no regrets. Yes it's a business and smart business people in my book give a discount for regular custom. When the down to the last dollar landlords are flaffing about dealing with trivial matters I'm relaxing. Agree you cannot put a price on peace of mind and security when it comes to tenants. If anyone needs a reminder just watch Renters.

houseofdad - 2021-08-14 12:46:00

But how much below market rent do you go?
$40 - ok fine.
$100 - not likely.

pcle - 2021-08-14 13:58:00

pcle wrote:

But how much below market rent do you go?
$40 - ok fine.
$100 - not likely.

About 10% to 15%.

Edited by houseofdad at 4:36 pm, Sat 14 Aug

houseofdad - 2021-08-14 16:35:00

tygertung wrote:

Say if you have stress free tenants who have been in the place for five years without any issues. Dream tenants. Would you be willing to accept a little less rent? You've had 100% occupancy, and zero issues.

We have such tenants. We will have to raise the rent a little when the new laws come in about the interest on the mortgage, but will try to make it a minimum raise.

$190 is far from a little less than the market.
I get your point and if it was $50 or less l would agree.
But rates and other costs have gone up massively in those 5 hypothetical years.

bernie184 - 2021-08-14 18:48:00

cathi wrote:

might not be to you ..but for some it can make a huge difference. it could mean the difference between say having to cut back on things such as food

So who do you think should cut back on food.?
The tenant or the property owner who has a heap of other bills to pay so the tenant keeps a roof over their head.

bernie184 - 2021-08-14 18:53:00

tygertung wrote:

Yes.

I hope you are not undervaluing your time. Being the cheapest isn't the only way to give the customers a good deal.

curlcrown - 2021-08-15 08:30:00

curlcrown wrote:

I hope you are not undervaluing your time. Being the cheapest isn't the only way to give the customers a good deal.

so by charging market rent what additional value are you providing to the tenant?

Edited by sparkychap at 8:33 am, Sun 15 Aug

sparkychap - 2021-08-15 08:33:00

sparkychap wrote:

so by charging market rent what additional value are you providing to the tenant?

What’s worse - a poor landlord who can’t afford the maintenance. Or one that can?

Edited by pcle at 12:57 pm, Sun 15 Aug

pcle - 2021-08-15 12:57:00

bernie184 wrote:

$190 is far from a little less than the market.
I get your point and if it was $50 or less l would agree.
But rates and other costs have gone up massively in those 5 hypothetical years.

Best to work out what it's going to cost the tenant yearly in this case $9,880 llolloll. I see why many don't cruise through the decades being a landlord. Tail between their legs after a matter of years from their foolishness.

houseofdad - 2021-08-15 13:51:00

pcle wrote:

What’s worse - a poor landlord who can’t afford the maintenance. Or one that can?

who said a landlord charging under “market rent” can’t afford repairs and maintenance?

sparkychap - 2021-08-15 13:59:00

sparkychap wrote:

who said a landlord charging under “market rent” can’t afford repairs and maintenance?

Quite right, the inflation on so called "market rent" has certainly been outstripping the inflation on the costs of repairs and maintenance.

tygertung - 2021-08-15 15:04:00

pcle wrote:

What’s worse - a poor landlord who can’t afford the maintenance. Or one that can?

Some years ago I had a poor land lord who bit of more than he could chew and he was an a hole. He even asked my why I didn't pay rent one week when a water hose burst and flooded the place and I had to move out for a few days. I've had a land lord who owned many houses and looked at it simply from a business prospective, and I can tell you which was better. The ones that have just one house seem to get to emotional about it, the ones with several just do maintenance when it is needed because the realise it is inevitable and have planned for it. That's just based on my observations.

curlcrown - 2021-08-15 15:39:00

curlcrown wrote:

Some years ago I had a poor land lord who bit of more than he could chew and he was an a hole. He even asked my why I didn't pay rent one week when a water hose burst and flooded the place and I had to move out for a few days. I've had a land lord who owned many houses and looked at it simply from a business prospective, and I can tell you which was better. The ones that have just one house seem to get to emotional about it, the ones with several just do maintenance when it is needed because the realise it is inevitable and have planned for it. That's just based on my observations.

And the professional probably charged just under market rent and kept it upto date?

pcle - 2021-08-15 16:38:00

Is there not such a thing as being competitive in business? If everyone just hikes up their prices because everyone else is, that is not being very competitive.

tygertung - 2021-08-16 08:01:00

tygertung wrote:

Is there not such a thing as being competitive in business? If everyone just hikes up their prices because everyone else is, that is not being very competitive.

Yeah the smart landlord are the ones cheaper than the landlords down the road. These smart landlords have more chance of enjoying 52 weeks occupancy year in year out. Less refurbishment costs etc.

Most people try and buy the cheapest petrol, why should rents be any different ?

houseofdad - 2021-08-16 10:04:00

In the last 5 years, our rental property has had 2 or 3 days vacancy. That was when we moved out and cleaned it up for the new tenants.

tygertung - 2021-08-16 11:39:00

OP Update. Rent is going up from $390 per week $475. This is still at least $80 below market rate. Will re assess next year for the next increase. Thanks for all your opinions. What I have found after many years as LL is that you get no favours or better looking after of property when the rent is low . I help those that I feel are genuinely thankful That the rent is a bit lower than market but this one is not.

pisces47 - 2021-08-16 16:01:00

houseofdad wrote:

Yeah the smart landlord are the ones cheaper than the landlords down the road. These smart landlords have more chance of enjoying 52 weeks occupancy year in year out. Less refurbishment costs etc.

Most people try and buy the cheapest petrol, why should rents be any different ?

I don't buy the cheapest petrol as my last car had really bad fuel economy using petrol from gull so refuse to use their fuel.

annie17111 - 2021-08-16 16:07:00

annie17111 wrote:

I don't buy the cheapest petrol as my last car had really bad fuel economy using petrol from gull so refuse to use their fuel.

Buying more expensive fuel does not improve your fuel economy, a higher octane may do.

PAK'nSAVE is the cheapest place. Check out the Gasspy app if you have not done so.

houseofdad - 2021-08-16 16:19:00

tygertung wrote:

In the last 5 years, our rental property has had 2 or 3 days vacancy. That was when we moved out and cleaned it up for the new tenants.

Had lady last year move out after 22 years, she paid me 4 1/2 times the money than what the rental cost me to buy. She only moved out because the stairs were getting too much for her.
Other tenants 12 and 15 years and still current tenants. You have to think like a tenant "Could be risky moving who knows if the new landlord is going to put the rent up all the time my landlord does not".

Smart landlords keep their eye on the prize the capital gain not the chump change of what you are getting weekly and what you could be getting.

Any of you down to the last dollar landlords ever worked it out in percentage what an extra $20 dollars etc is compared to what you already getting ? No doubt will be in the low single figures. Big flamin deal real quality of life changing stuff. Then you can enjoy giving 30 percent plus of it to the IRD. (In most cases)

Smarter Not Harder!

Edited by houseofdad at 4:41 pm, Mon 16 Aug

houseofdad - 2021-08-16 16:29:00

houseofdad wrote:

Buying more expensive fuel does not improve your fuel economy, a higher octane may do.

PAK'nSAVE is the cheapest place. Check out the Gasspy app if you have not done so.

I got 150 kms less on a tank of 91 from gull compared to a tank of 91 from allied. I know that more expensive gas doesn't mean more kms from my tank, but the fact that gull was so bad for my car means I won't take my ute their either.

annie17111 - 2021-08-16 16:40:00

annie17111 wrote:

I got 150 kms less on a tank of 91 from gull compared to a tank of 91 from allied. I know that more expensive gas doesn't mean more kms from my tank, but the fact that gull was so bad for my car means I won't take my ute their either.

Surely there was something wrong with that particular batch of fuel from Gull.
Wouldn't logic tell you that if all their customers were getting around 150 km less on a tank they would soon have no customer's ? Plus it would be 6: 00pm news material.

houseofdad - 2021-08-16 16:44:00

houseofdad wrote:

Surely there was something wrong with that particular batch of fuel from Gull.
Wouldn't logic tell you that if all their customers were getting around 150 km less on a tank they would soon have no customer's ? Plus it would be 6: 00pm news material.

happened three times. My 1997 Camry didn't do well on gull fuel. Have spoken to other people that had the same problem but newer cars seem to be fine on it.

annie17111 - 2021-08-16 17:08:00

pisces47 wrote:

OP Update. Rent is going up from $390 per week $475. This is still at least $80 below market rate. Will re assess next year for the next increase. Thanks for all your opinions. What I have found after many years as LL is that you get no favours or better looking after of property when the rent is low . I help those that I feel are genuinely thankful That the rent is a bit lower than market but this one is not.

Good to hear, and thanks for the update.

annedillonart - 2021-08-16 17:39:00

pisces47 wrote:

OP Update. Rent is going up from $390 per week $475. This is still at least $80 below market rate. Will re assess next year for the next increase. Thanks for all your opinions. What I have found after many years as LL is that you get no favours or better looking after of property when the rent is low . I help those that I feel are genuinely thankful That the rent is a bit lower than market but this one is not.

A good outcome. Yes I have found the same that places are not looked after any better even with the rent being lower. (Gardens getting done etc)

houseofdad - 2021-08-16 18:35:00

annie17111 wrote:

happened three times. My 1997 Camry didn't do well on gull fuel. Have spoken to other people that had the same problem but newer cars seem to be fine on it.

Ok, but like I originally said buy the cheapest petrol - it's not Gull where I am it's PAK'nSAVE, probably applies to you too. 10% discount whether you buy groceries or a packet of chewing gum.

houseofdad - 2021-08-16 18:40:00

mulch_king wrote:

Besides, it's a free world. If tenants don't like the rent increase they can go and buy their own home. There's another radical concept.

Yep pretty radical when my grandfather bought his entire property valued at $800,000 dollars today for $20,000.Couldnt even make a deposit with $40000 today.

pretty lucky those ones that got there homes when a fair society was running shit and cared about people hey.

mamaash - 2021-09-12 11:24:00

tygertung wrote:

Is there not such a thing as being competitive in business? If everyone just hikes up their prices because everyone else is, that is not being very competitive.

Landlords are not competitors they act more like a cartel, I read that in a stuff article. Market rent would be lower if they were competitors.

https://thedailyblog.co.nz/2021/04/09/77-of-slumlords-threat
ening-rent-rises-grant-cant-do-a-pontius-pilate-to-renters/

77% of Slumlords planning rent increase you are not one of those?

You probably should head this warning, about discussing rent increases on socials.
https://www.goodreturns.co.nz/article/976517411/online-rent-
talk-attracts-comcom-attention.html

Edited by mr-word at 4:59 pm, Mon 20 Sep

mr-word - 2021-09-20 16:51:00

mamaash wrote:

Yep pretty radical when my grandfather bought his entire property valued at $800,000 dollars today for $20,000.Couldnt even make a deposit with $40000 today.

pretty lucky those ones that got there homes when a fair society was running shit and cared about people hey.

$20K in todays dollar is probably closer to $1.5M and the interest rates were 12%. Plus didn't get any welfare. So sad.

pcle - 2021-09-20 17:07:00

mr-word wrote:

Landlords are not competitors they act more like a cartel, I read that in a stuff article. Market rent would be lower if they were competitors.

https://thedailyblog.co.nz/2021/04/09/77-of-slumlords-threat
ening-rent-rises-grant-cant-do-a-pontius-pilate-to-renters/

77% of Slumlords planning rent increase you are not one of those?

You probably should head this warning, about discussing rent increases on socials.
https://www.goodreturns.co.nz/article/976517411/online-rent-
talk-attracts-comcom-attention.html

Maybe if there was some control of costs the rents wouldn't skyrocket.
8% rates rise. Removal of all rent subsidies. Rents go up. Go figure?

pcle - 2021-09-20 17:08:00

mr-word wrote:

Landlords are not competitors they act more like a cartel, I read that in a stuff article. Market rent would be lower if they were competitors.

https://thedailyblog.co.nz/2021/04/09/77-of-slumlords-threat
ening-rent-rises-grant-cant-do-a-pontius-pilate-to-renters/

77% of Slumlords planning rent increase you are not one of those?

What in your opinion constitutes a slumlord?

artemis - 2021-09-20 17:16:00

artemis wrote:

What in your opinion constitutes a slumlord?

A landlord who owns multiple poorly maintained outdated houses or flats.

Edited by mr-word at 5:22 pm, Mon 20 Sep

mr-word - 2021-09-20 17:19:00

mr-word wrote:

A landlord who owns multiple poorly maintained outdated houses or flats.

That all meet Healthy Homes Standard. Which the compliance cost has put rents up $60pw. Nice.

pcle - 2021-09-20 17:42:00

mr-word wrote:

A landlord who owns multiple poorly maintained outdated houses or flats.

Are there many, bearing in mind the standards mentioned? And if there are still a few out there why are people continuing to live in them?

artemis - 2021-09-20 18:50:00

artemis wrote:

Are there many, bearing in mind the standards mentioned? And if there are still a few out there why are people continuing to live in them?

Are there many? Yes

https://thespinoff.co.nz/society/23-06-2021/who-is-wellingto
ns-next-top-mould-el/

Who is the biggest slumlord of all in New Zealand ? Kainga Ora (Housing NZ)

https://www.rnz.co.nz/national/programmes/ninetonoon/audio/2
018802551/the-cost-and-extent-of-substandard-housing

Edited by mr-word at 10:55 pm, Mon 20 Sep

mr-word - 2021-09-20 22:52:00

So mr-word why don't people move if their health is at risk or their living conditions are dire? And why move in in the first place? There's this thing called personal responsibility. And this other thing called priorities. And then the other thing called choice.

artemis - 2021-09-21 12:17:00

Well I'm happy paying my $149 wk

leson - 2021-09-21 14:09:00

mr-word wrote:

A landlord who owns multiple poorly maintained outdated houses or flats.

Kainga ora for example.

Edited by curlcrown at 4:21 pm, Tue 21 Sep

curlcrown - 2021-09-21 16:20:00

mulch_king wrote:

Rental property is a legitimate business. Now that labour has taken any incentives, why would a landlord charge less than market rent?

Market rent is what a tenant will pay. A bit like finding the reserve in an auction, bid until you find it but at that point you own it. The same with rent increases once you have reached the limit of what they can comfortably pay you will be left with an empty house.

headcat - 2021-09-22 15:48:00

The member deleted this message.

dayco-nz - 2021-09-29 22:18:00