New Zealand Property Investors' Federation

The NZPIF is the umbrella body for 20 local Property Investors' Associations throughout New Zealand.

(027) 357 9243

www@nzpif.org.nz

Federation Activities

News plus discounts on masks and plumbing items for members

Deloitte and Valocity give insights into the effect of the phase out of mortgage deductibility - are you ready?

The report of their analysis appeared on March 14.  

Sharp interest rate increases, combined with the phase-out of mortgage interest deductibility, are likely to leave more rentals losing money as landlords find rent payments no longer cover expenses and tax bills, Deloitte analysis shows. Deloitte partner Robyn Walker says if home loan rates hit 5 per cent (which experts predict will happen within a couple of years) it will not take long for a typical rental to see the small profit made from rent disappear, and for it to start running at a loss. A separate analysis by property data company Valocity shows recent investors could find their tax bills more than $2700 higher this year compared to identical investors who bought pre-rule change. The insights from Deloitte and Valocity start to fill a gap left by the Government and Inland Revenue (IR) about what effect the phase-out of mortgage deductibility will have on investors. https://www.stuff.co.nz/business/127892770/more-landlords-face-making-a-loss-on-rentals-as-interest-rates-rise-deloitte-says - 14 March

 

 

Good news.  The discount on masks and other items from this supplier has increased for members to 15%. Make the most of this offer and obtain better protection from COVID and Omicron when you are doing inspections and at other times while you are out and about. Go here and order your supply of good quality masks and/or a pulse oximeter.

 

PACIFIC PLUMBING SUPPLIES LTD.

As NZPIF members and supporters themselves, this company wants you as NZPIF members to have a purchasing advantage you would not otherwise receive. Pacific Plumbing has been a manufacturer and supplier to the wholesale market in NZ for 55 years.  They have a large range of NZ made and imported plumbing fittings and accessories. Their products are generally better value than those of traditional providers and they are offering to members only a discount of 22% off the entire product range.

Choose what you need from their website, email them at pacific.plumbing@xtra.co.nz with your product codes and they will email you an invoice showing the net costs. Once paid online the goods will be couriered to you. Website prices include GST.   Freight is free for orders over $100 and below that the freight charge is $10 for delivery in the North Island and $15 in the South Island,

 

 

REGULATION OF PROPERTY MANAGERS PROPOSED

The following announcement was on the TV1 news on the 16th of February

The regulation of property managers is one step closer, with the Government releasing proposals that could see companies fined up to $100,000. Associate Housing Minister Poto Williams said regulating the sector would "make things fairer for renters and landlords". She said due to the lack of regulation "renters feel reluctant to complain to, or about, their property manager for fear of losing their homes or jeopardising their ability to rent houses in the future". "Property owners are also vulnerable to poor conduct by property managers, and we know of some instances where unregulated property managers have misused rental income and bonds and provided little or no property inspection and maintenance." proposals would see a licensing regime requiring property managers to sign up and comply with a code of conduct. https://www.1news.co.nz/2022/02/16/property-companies-face-100k-fines-for-breaking-proposed-rules/ - 16 February.

Information about the consultation on this proposal, which closes on the 19 April, can be found here - https://www.hud.govt.nz/about-us/news/consultation-on-proposed-regulation-of-residential-property-managers/?utm_source=Tenancy+Services&utm_campaign=da0bf7b8fe-EMAIL_CAMPAIGN_2020_03_25_03_28_COPY_01&utm_medium=email

 

 

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