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December 2018
Welcome to your Christmas newsletter from Rentals.co 
Please note we will be closed from 4:30pm on December 21 and reopening 8:30am January 19. 


Letting Go Of Letting Fees -  What We Know So Far About The Law Change

From December 12 2018 it will be unlawful for a property manager to charge a tenant a letting fee. This comes after the Residential Tenancies (Prohibiting Letting Fees) Amendment Bill was given royal assent and became an act.  At Rentals.co, we’re responding by removing all clauses and fields about letting fees from our application forms from December 11. Everyone who’s applied for a tenancy with us until that date has been charged a letting fee to recognise the hard work we do, putting roofs over the heads of trustworthy tenants. 

Who will now pay for the administration time it takes to match the right tenants to a property?
We aim to have our new policy firmly set from the start of 2019. There will eventually be small increases in rent to cover the costs of letting services (A letting fee has always been around one week's rent + GST). This small increase will be the equivalent of a letting fee, spread out over a year, and likely around $8 per week per property. 

Will everyone’s costs go up right away?
No - the new law applies to tenancy agreements created after December 12 2018. 

What if we need legal advice before a tenant is granted a rental?
The services of solicitors or letting agents can't be charged for as a letting fee. 
 

Learn More


Free advice for our landlords

Are you paying the correct tax on your investment property? 

It’s essential to know the tax rules when you own a rental property in Northland.

The experts at Rentals.co deal with these questions daily and are always available to help when you want to know the basics of how investment property tax words. We can connect you with expert accounting services. The Inland Revenue Department offers a 40-page booklet on the topic. Click on through for a link with which to download the booklet, and find out the bullet point basics from Rentals.co.

Learn More


Rental yield in Whangarei - what's trending?

The rental yield calculator at Interest.co.nz keeps an eye on rental yield (return) from three bedroom houses in over 50 selected areas with high rental activity. 

The numbers are based on REINZ lower quartile selling prices and median rents recorded by Tenancy Services' Bonds Centre. 

Have a look and you’ll see rental yield in Whangarei is strong and steady, and the expected surge in tenancy applications in December and January should further boost these indicators, if the last few summers are anything to go by. 

Rental yield calculator


Another nifty online tool

Want to get Northland’s rental experts to manage a property you’re wanting to invest in? Haven’t done the maths yet? Westpac offers something nifty to plan it all - a property investment calculator. Click on through to use Westpac's fun property investment calculator to get an indication of what rent your investment property might yield. 

Learn More


Would you like to read our last couple of newsletters?
 

Just click on through

New premises, new services, same expertise


Located at 9-11 Reyburn Street in downtown Whangarei, Rentals.co has begun taking care of rental properties previously managed by Judy Morgan and First Rentals.
09 459 7139  |  info@rentalexperts.co.nz  |  www.rentalexperts.co.nz
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