Connect with us

International

Landlords are expected to act soon after the lease freeze is completed

Published

on


This story was originally published in RNZ.co.nz and republished with permission.

Tenants are preparing for an increase in living costs when the rent freeze increases at the end of next week.

This was after the Trade Commission had to warn property investors that they might be at risk of behaving like a cartel after discussing rent increases, en masse, a day after the freeze ends.

The government announced a six-month freeze on rent increases on March 26, it was a set measure to protect tenants during the Covid-19 pandemic.

READ MORE:
* Manawat tenants facing $ 200 rent increase after rent increase freeze ends
* Online property investor chats trigger a reminder of price adjustment
* Tenants were told: rent holder increases announcements in the coming weeks
* Blocking ‘last straw’ for troubled property investors
* Coronavirus: There is no large increase in residential tenants not paying rent when blocking Covid-19

However, some tenants have been served early notice, pending the end of the freeze.

Zoe *, who rents a one-bedroom studio in Wellington, is one of them.

She recently lost her job through Covid-19 and is also partially sighted.

Her disability benefit, which is all of her weekly income, is $ 500.

With the renewal of her rent in August, there was also an announcement that her rent would drop to $ 40 a week, starting on the day the rent freeze ends – September 25th.

That brings her rent up to $ 370 a week – 75 percent of her total income.

The government announced a six-month freeze on rent increases on March 26th.  Ends next week.

123RF

The government announced a six-month freeze on rent increases on March 26th. Ends next week.

“I was devastated, obviously, because $ 330 is already too much, and it was in the abyss that I would not be able to pay it either.”

She responded to the notice, asking the owner to review, given her personal situation as well as the condition of the unit, which is damp and moldy.

No work has been done on the property during the time she has lived there, she said.

The property management company responded, saying they were sorry to hear about its circumstances, but that the owner needed a better return of his property.

They then asked if she had tried running a dehumidifier “constantly”.

Due to her disability, Zoe needs shelter that is suitable for her needs and can accommodate her guide dog.

She sought other places in Wellington, but nothing was suitable.

So she is forced to accept the increase.

“Kind is kind of bad, honestly, and it’s very cynical that they did it as soon as they could.”

The Trade Commission sends the alarm

Last month, the Trade Commission launched a warning blow to investors in the properties found by discussing plans to increase rents, en masse, in online forums.

There were discussions about all the growing industry rents a day after the lease freeze ends, on September 26th.

Commission Chairwoman Anna Rawlings said investors were at risk of violating the Trade Act and advisory letters were sent to industry representatives.

“Landlords need to be aware that they can be in competition with each other for the supply of rental properties and they can conduct a business in the supply of properties.

“As a result, they are subject to the provisions of competition law and consumer protection laws. They need to make sure they are aware of their obligations and ensure that they comply with them,” she said.

‘A general discussion’ between owners

Sharon Cullwick, who is the executive officer of the Federation of Property Investors, received one of those letters.

Investors were discussing options on Facebook, she said, and she is urging them to heed the warnings.

“I think it was a general discussion that the Trade Commission conducted. I don’t think it was something specific. But it really is a warning to us that they are watching what property investors are doing.”

She also thought the Commission did not want rents to rise in the Covid-19 climate.

Tenants can expect to see lease announcements appearing in the next two months, Cullwick said.

“What we have heard is that there are quite a few landlords who give rent increases, but some of these are because when the legislation came in, we could not increase rents at the time and that put a delay on that.”

Helen O’Sullivan is the chief executive of Crockers Property Management, which manages a large portfolio of property, including many apartments in Auckland.

She is not seeing many announcements of rent increase and is not expecting it.

“Homeowners are recognizing that having a quality tenant who can pay the bills right now is the best way to maximize your revenue stream.”

It takes quite a few weeks of $ 20 or an extra $ 30 a week to make up for three weeks if you are left empty, O’Sullivan said.

“Maintaining your tenants is really the best way to save revenue for landlords right now.”

She is urging landlords to keep good tenants if they can.

* Name has been changed for privacy reasons.

This story was originally published in RNZ.co.nz and republished with permission.

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos



picture credit

ExBUlletin

to request, modification Contact us at Here or [email protected]

Please disable the ad-blocker on this page to see the content

plus