Howes Hot Tips
The following tips are my own opinions based on my experiences of selling and renting property in the Auckland area. You may not agree with or are already aware of the following. Hopefully it will help some.
Tip 1: Main Roads
If I had a dollar for every time someone told me they would not live on a main road I would be a rich man but funnily enough if you drive down any main road they are overall occupied.
When buying or renting on a main road it’s just a matter of being realistic with your price. With sound proofing and double glazing of windows main road properties are becoming more attractive than ever before.
Tip 2: Leasehold Property
For those who know me I am not a big fan of leasehold property at all. I think the only time people should be investing in leasehold property is when it’s the person’s second or third property where the person’s financial position will not be affected by the possible lack of capital growth and the paying of a ground rent which will be subject to renewals.
Some ground rents today are getting up to amounts which would be like renting the property on the free market. This takes away the feeling of owning the property. For me this doesn’t make for good sense.
Tip 3: Security of rental properties
I do recommend to owners to make sure their rental properties are secure which helps attract good tenants. Security measures such as latches on windows, deadbolts, security lights and an alarm are highly recommended. If tenants don’t feel safe in their rental accommodation they tend not to stay to long.
Tip 4: Blocks of Units and Apartments
With units and apartments the proximity of living can be very close and this can bring numerous problems. Never going to be perfect but it is important to remind and on occasion enforce tenants to comply with noise, parking and rubbish obligations.
Tip 5: Chattels
Chattels such as waste disposals, spa pools, heat pumps and dishwashers all cost money to repair and replace. Depending on the quality of the property and the returns expected then owners/agents need to take into account the affect of having certain chattels attached to a tenancy agreement.
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