NZ Property Magazine

October '10 Issue

Shaken to the core

To be woken up in the wee small hours by the feeling of being in a blender – the violent rocking and noise of possessions crashing and shattering all around – is something Cantabrians will never forget.

It is also something the rest of us should bear in mind, as an earthquake the magnitude of Canterbury can happen in any of our main centres.

What has been brought – or bubbled – to the fore are questions over how prepared we are for another such natural disaster. Yes, Wellington has strict building regulations in regards to earthquakes, but what about the likes of Hamilton or Auckland?

Another issue arising is how the earthquake will affect the housing market and what that means for both current and future investors in the city. Will prices in Christchurch drop to their knees, or will they be pushed up due to heightened demand, as people look for replacement houses?

In our October lead feature we talk to Christchurch investors and how they are faring. We also address the questions surrounding the state of the property market and where some think it may head.

We also have a feature about letting fees. In the past only registered agents could charge a fee to tenants at the beginning of a new tenancy, but the rules have changed to include all property managers being able to charge letting fees.

This is a topic many feel very passionate about, mainly that landlords should be charged the fee as opposed to tenants.  Although all managers are now able to charge a fee, many say they won’t or will only charge the bare minimum.

Another interesting read is our profile, where George and Joy Thomson share with us how they picked themselves up from financial rock bottom and now have a healthy six-figure passive rental income, which they are aiming to grow into a seven-figure income over the next couple of years.

It all comes down to having your “why” sorted – knowing why you get out of bed in the morning to do what you do.

We also check out commercial syndicates and how they are being fanned back into life, with many companies recently having to turn cheques away. These types of ventures can return investors around 9% per year in the current market.

The Commercial 101 series explains how to tailor a commercial lease to fit both parties and the importance of getting the final product checked by a legal beagle.

Our guru Michael Yardney explains the five levels of wealth and the difference between financial abundance and financial freedom. What level of the ladder are you on?

Also this month:

• Will a leaky home that has been repaired hold its “leaky” stigma? What about other monolithic clad buildings?
• Commercial fit-out details from the IRD and how they differ from residential
• How to get rid of weeds in your rental gardens for ease of care and management
• Why now is a good time to renovate
• Marlborough reviewed for investment potential – although it has taken a battering by the downturn, the property market is looking brighter for future prospects