According to CoreLogic\u2019s latest report, property investment has and will remain, in the long run, a popular and proven investment vehicle, despite more regulation and the Government\u2019s continued influence in the market.<\/p>\n
The report shows residential property investors have remained very active in the property market this year, and the latest November data shows they remain undeterred by Government measures such as the looming ring-fencing for tax relief on rental property losses.<\/p>\n
Kelvin Davidson, a CoreLogic Research Analyst, says the figures indicate that the extra regulations and government pressure haven\u2019t slowed down residential property investors, who remain very active in the market. Twenty-five per cent of residential properties in November were purchased by multiple property owners with a mortgage (mortgaged investors).<\/p>\n
The continued presence of mortgaged investors in the market may seem a bit surprising given the extra Government attention on them, via the ring-fencing for tax relief on rental property losses and the possibility of a capital gains\/asset tax on its way. The proof is in the (Christmas) pudding, however, as it illustrates long-term property investors are still feeling confident they can make their investment plans work even though costs may be slightly higher and yields slightly lower.<\/p>\n
While we have no doubt some investors will start to weigh up the costs of getting lower-quality rental properties up to Healthy Homes standard, it is important to keep in mind, changes afoot here in New Zealand are not so different to the pattern seen globally.<\/p>\n
The year ahead looks to offer much of the same as in 2018, but we encourage you all to approach the changes with optimism. Property investment has and will remain a popular and proven investment option, and changes will only improve the rental market for everyone while solving underlying issues like affordability.<\/p>\n
\u00a0<\/p>"}],"PageType":"NewsArticlePage","Sort":"1","Created":"2018-12-18 16:51:43","Blurb":"
According to CoreLogic\u2019s latest report, property investment has and will remain, in the long run, a popular and proven investment vehicle, despite more regulation and the Government\u2019s continued influence in the market.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Pavlova.jpg"},{"URLSegment":"tax-ring-fencing-and-rental-properties","Title":"Tax Ring-Fencing and Rental Properties","SEOTitle":"Tax Ring-Fencing and Rental Properties","Heading":"Tax Ring-Fencing and Rental Properties","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-New-Zealand-Parliament.jpg"},{"Style":null,"Content":"
Changes are afoot for rental property taxation in an effort to level the playing field between property investors and home buyers. The Bill\u00a0will end the practice of negative gearing on investment properties and will prevent losses from rental properties being offset against personal income. This takes full effect from 1 April 2019.<\/p>\n
Currently, investors with loss-making rental properties can subsidise part of the cost of their mortgages through reduced tax on other income.\u00a0<\/p>\n
If a rental property runs at a profit then the new law won\u2019t have an impact, so we shouldn\u2019t see landlords with positive cash flow from their rentals wanting to sell because of the new law. They will, however, look for ways around the new policy. The proposed change may deter new investors from entering into the\u00a0rental property business as many investors rely on losses to get by at the beginning.<\/p>\n
You're still able to claim a tax deduction for the same things you could previously such as depreciation, interest on lending, repairs, rates, insurance, etc. You just can't offset any losses resulting from the deductions.<\/p>\n
REINZ Chief Executive Bindi Norwell thinks restricting the use of rental losses could negatively influence the rental market, by investment property owners passing costs on to tenants through increased rents or making rental ownership a less appealing investment option. This will lead to further pressure on the rental market.<\/p>\n
Although the proposed bill is subject to change, the new rules are coming. How you should respond to the new rules will be entirely determined by your situation. For example, a business owner might look to restructure their bank lending to shift debt onto their business (rather than having it on a rental property). This could mitigate the impact of the new rules.<\/p>\n
Alternatively, a salary and wage earner might look to buy an additional property that is cash flow positive (high yield, low capital growth). The profit from the new property is able to be offset with the loss from the existing property. Again, this mitigates the impact of the new rules.<\/p>\n
Others may explore ways to\u00a0change their employment from their current employer to the entity they hold their negativity geared property in. Then their employer contract will be with that entity instead and the offsetting will continue.<\/p>\n
Whatever landlords do, right now they should look at ways to maximise their final loss. Any losses from the 2019 Financial Year can be offset, while those from the 2020 Financial Year onward can't be.<\/p>\n
If you have any delayed repairs that you've been putting off then now is the time do to them.\u00a0Repairs such as re-roofing or re-painting can be claimed and offset against other income if the expenses are incurred before 31 March 2019.<\/p>\n
\u00a0<\/p>"}],"PageType":"NewsArticlePage","Sort":"2","Created":"2018-12-18 16:04:27","Blurb":"
Changes are afoot for rental property taxation in an effort to level the playing field between property investors and home buyers.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/New-Zealand-Parliament.jpg"},{"URLSegment":"rental-market-statistics-november-report","Title":"Rental Market Statistics: November Report","SEOTitle":"Rental Market Statistics: November Report","Heading":"Rental Market Statistics: November Report","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-November-2018.jpg"},[{"Icon":"none","Content":"Download the latest rental market statistics","Link":"http:\/\/52.62.80.90\/assets\/November-2018-Statistics.pdf "}],{"Style":null,"Content":"
Every month we gather the most recent information on rental prices in Wellington and the Hawke's Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.<\/p>\n
\u00a0<\/p>\n
Median Rent Increases\u00a0<\/strong><\/p>\n - Two bedroom properties in Napier South have increased by 24 per cent compared to November 2017. The median rent is now $360 per week.<\/p>\n - Two bedroom properties in Northern Lower Hutt have increased by 23 per cent compared to November 2017. The median rent is now $380 per week.<\/p>\n - Four bedroom properties in Porirua have increased by 27 per cent compared to November 2017. The median rent is now $700 per week.<\/p>\n - One bedroom properties in Hataitai\/Brooklyn have increased by 33 per cent compared to November 2017. The median rent is now $346 per week.<\/p>\n - New Zealand 1\u20134 bedroom properties up 3 per cent to 6 per cent compared to\u00a0November 2017.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/strong><\/p>\n - One bedroom\u00a0properties in Napier Central have decreased by 17 per cent compared to November 2017. The median rent per week is now $257.<\/p>\n - Three bedroom properties in Wellington Central have decreased by 8 per cent compared to November 2017. The median rent is now $680 per week.<\/p>\n \u00a0<\/p>\n Bonds Lodged<\/strong><\/p>\n Activity is noticeably high in Wellington Central (280), Hutt Valley (159), Hataitai\/Brooklyn (101), Johnsonville\/Tawa (90) and Napier (84). Overall there were 8190 bonds lodged across New Zealand in November.<\/p>"},[{"Icon":"none","Content":"Request a Free Rent Appraisal","Link":"https:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"Switch Your Property to Oxygen","Link":"https:\/\/www.oxygen.co.nz\/switch-your-property-to-oxygen"}]],"PageType":"NewsArticlePage","Sort":"3","Created":"2018-12-12 16:12:20","Blurb":" Every month we gather the most recent information on rental prices in Wellington and the Hawke's Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/November-2018.jpg"},{"URLSegment":"the-real-cost-of-overpricing-rent","Title":"The Real Cost of Overpricing Rent","SEOTitle":"The Real Cost of Overpricing Rent","Heading":"The Real Cost of Overpricing Rent","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Rent.jpg"},{"Style":null,"Content":" Selecting a professional property management company who know the current market is an important part of maximising your investment. Everyone wants to get the best return they can for their investment property but pricing your property accurately may mean a shorter vacancy period in what can be a tough market.<\/p>\n Of course, you may have been very fortunate in the past and received higher than average returns but it\u2019s important to remember your property is only worth as much as someone is willing to pay. This is the amount of rent that can be expected for the use of a property, in comparison with similar properties in the same area.<\/p>\n The market is not your only variable but the circumstances of the applicant themselves.\u00a0 A professional couple transferring from a larger city, for example, may be willing to pay more than average rent, as it is much lower than what they are used to paying.\u00a0 However, a young family moving from within the area may not have the financial capacity to pay more.\u00a0\u00a0<\/p>\n We often see properties advertised by competitors on Trade Me with extraordinarily high rents, only to see them drop a week or two later due to a lack of enquiries, and interest. The market will always dictate the price,<\/span> so when selecting a company be well aware of any overpromising on price and potentially being priced out of the market because of it. Remember, for every week your property sits vacant you are losing approximately 2% of your annual rental income.<\/p>\n Our experienced business development team understands, first and foremost, what the market is likely to pay for your property. This is the pool of tenants actively seeking a new rental property at that time. This demand does vary according to a number of different factors, mainly driven by \u2018supply and demand\u2019. When we appraise a property, the first thing we do is a comparative market analysis to assess the rent the property may achieve on the current market. We look at how much similar properties in the area have recently rented for and how long they have been on the market.<\/p>\n Rental values can also be affected by a property\u2019s proximity to public transport, local amenities, internal features, garage, car parking and appliances (such as dishwasher and air conditioning). Properties that are well presented or recently refurbished usually achieve a higher rental price and spend fewer days on the market. In completing our comparative market assessment we take all of the above into consideration. This is how your rent is determined.<\/p>\n Perhaps it\u2019s time to have your property appraised by our experienced team who know the market.\u00a0 Should you have any questions in relation to these matters and their impact upon your investment property, simply pick up the phone and call your nearest Oxygen office. Our team will give you unbiased and factual information based on 'coal face' experience and intimate market knowledge. Trust the experts for better service and peace of mind.<\/p>\n \u00a0<\/p>"}],"PageType":"NewsArticlePage","Sort":"4","Created":"2018-12-12 09:10:30","Blurb":" Selecting a professional property management company who know the current market is an important part of maximising your investment. Everyone wants to get the best return they can for their investment property but pricing your property accurately may mean a shorter vacancy period in what can be a tough market.\u00a0<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Rent.jpg"},{"URLSegment":"our-success-in-managing-arrears-is-99","Title":"Our Success in Managing Arrears is 99%","SEOTitle":"Our Success in Managing Arrears is 99%","Heading":"Our Success in Managing Arrears is 99%","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Arrears.jpg"},{"Style":null,"Content":" According to the Tenancy Tribunal, nearly three-quarters of Tenancy Tribunal applications are over unpaid rent. It can often take many weeks to get a Tenancy Tribunal hearing, while still having tenants sitting in your rental property without paying any rent. Without a Tenancy Tribunal order, you cannot get a non-paying tenant out of your property and even when you do, it can then take even longer to get a replacement tenant.<\/p>\n Unfortunately, tenants not making their rental payments on time can sometimes be a fact of life. At Oxygen, we understand the prompt payment of rent is the lifeblood of your investment, and an important part of our service is the receipting of rent and managing any arrears. We have zero tolerance for rent arrears so our property managers conduct daily monitoring of rents and immediately follow up with tenants who are behind.<\/p>\n A key performance indicator for Oxygen is the percentage of our managed properties that are in arrears for longer than six days. Of course, a number of factors can contribute to tenants not paying their rent on time; however, we are extremely proud to say that less than 1% of our tenancies have arrears beyond six days of being due across our large portfolio of properties.<\/p>\n Daily monitoring and robust processes and procedures ensure that our owner\u2019s income is paid when due 99% of the time. This process is made easier by our property managers who foster a good relationship with our tenants. Our intention at all times is to minimise any potential loss to our owners.<\/p>\n Do you currently have an investment property with a tenant who is consistently behind in their rent? We know this is one of the biggest concerns for any landlord. Should your tenant\u2019s rent payments fall into arrears and you bring your property over Oxygen to manage, we will take immediate action to recover the overdue amount. Our skilled team has a great track record of assisting new owners with debt recovery and will do their utmost to ensure your unpaid rent is collected.<\/p>\n When it comes to problems with rent payments, early intervention is the key to sorting it out. Our team can take the stress of the rent not being paid, so you can focus on what\u2019s more important to you.\u00a0It is essential to have strict arrears procedures, especially in the lead up to the festive season. Tenants must be made responsible for paying their rent on time as agreed to in the tenancy agreement.<\/p>"}],"PageType":"NewsArticlePage","Sort":"5","Created":"2018-12-11 16:03:48","Blurb":" According to the Tenancy Tribunal, nearly three quarters of Tenancy Tribunal applications are over unpaid rent. It can often take many weeks to get a Tenancy Tribunal hearing, while still having tenants sitting in your rental property without paying any rent.\u00a0<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Arrears.jpg"},{"URLSegment":"protect-your-investment-with-the-right-cover","Title":"Protect your Investment with the Right Cover","SEOTitle":"Protect your Investment with the Right Cover","Heading":"Protect your Investment with the Right Cover","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-House-and-hands.jpg"},{"Style":null,"Content":" Owning a residential rental property has long been recognised as a sound investment option for people wanting to maximise their financial returns, however, the failure to protect your valuable asset can mean the loss of the all-important income it generates.<\/p>\n Investment in residential property brings its own risk, as you are often relying on a third party to cover mortgage payments or investment money.\u00a0Having a comprehensive landlord insurance policy that covers the loss of income from a variety of incidents ensures that your asset continues to provide a good income stream.<\/p>\n While many standard insurance policies do not cover the risks often associated with rental properties, specialist landlord policies usually not only cover all the standard things in a homeowner's policy, but go a step further and cover rental specific risks such as intentional damage by tenants, landlord furnishings, theft, loss of rent if tenants leave without notice, as well as cover for hidden gradual damage, which tenants often don't report until it\u2019s too late.<\/p>\n REAL Landlord Insurance is an insurance brokerage who understands the business of residential rental investment and has developed their policies with investors in mind. They recognise that insurance can be confusing, and have designed a suite of products that are not only easy to use and understand but are specifically designed for New Zealand landlords.<\/p>\n Their policies are only available to owners of investment properties that are professionally managed by a REAL Approved Property Management Company who will undertake the necessary and lawful steps to manage the property efficiently thus reducing the risks involved in residential property management. Oxygen Property Management is an Approved Property Manager for\u00a0REAL Landlord Insurance.<\/strong><\/p>\n REAL Landlord Insurance understands the business of residential property investment better than most brokers, they have a history and relationship with the property management industry\u00a0that means they have written their policies to cover most instances of loss \u2013 far more than you may find with other similar products.<\/p>\n We recommend REAL Landlord Insurance to all our property owners and the REAL Landlord preferred policy represents great value for money to landlords at less than $1 per day (including all compulsory government levies and GST).<\/p>\n Whether you're a new investor or have a few properties in your portfolio now's the time to make sure you are covered\u00a0in time for the inevitable silly season.\u00a0Holiday time will be here before you know it\u00a0and with it comes extra monetary pressures for tenants.\u00a0Choosing to insure can mean the difference between safeguarding your rental income and facing the prospect of being significantly out of pocket.<\/p>\n If you would like further information, speak with your property manager today or feel free to call REAL Landlord Insurance direct on 0800 003 545 or visit www.rlinz.co.nz<\/a>.<\/p>"}],"PageType":"NewsArticlePage","Sort":"6","Created":"2018-11-20 16:18:14","Blurb":" Owning a residential rental property has long been recognised as a sound investment option for people wanting to maximise their financial returns, however the failure to protect your valuable asset can mean the loss of the all-important income it generates.<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/House-and-hands.jpg"},{"URLSegment":"rental-market-statistics-september-report-2","Title":"Rental Market Statistics: October Report","SEOTitle":"Rental Market Statistics: October Report","Heading":"Rental Market Statistics: October Report","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Stats-Header-October-2018.jpg"},[{"Icon":"none","Content":"Download the latest rental market statistics","Link":"http:\/\/52.62.80.90\/assets\/October-2018-Statistics.pdf"}],{"Style":null,"Content":" Every month we gather the most recent information on rental prices in Wellington and the Hawke's Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.<\/p>\n \u00a0<\/p>\n Median Rent Increases\u00a0<\/strong><\/p>\n - One bedroom properties in Napier Central have increased by a\u00a0huge<\/span> 48 per cent compared to October 2017. The median rent is now $350 per week.<\/p>\n - Two bedroom properties in Napier Central saw a much smaller increase of 22 per cent compared to October 2017. The median rent is now $390 per week.<\/p>\n - Two bedroom properties in both Hastings and Napier South saw an increase of 17 per cent compared to October 2017. The median rent is now $340 and $315 respectively.<\/p>\n - One bedroom properties in Upper Hutt have increased by 28 per cent compared to October 2017. The median rent is now $250 per week.<\/p>\n - One bedroom properties in Khandallah\/Ngaio have increased by a huge 45 per cent compared to October 2017. The median rent is now $347 per week.<\/p>\n - One bedroom properties in Kilbirnie\/Island Bay have increased 30\u00a0 per cent compared to October 2017. The median rent is now $370 per week.<\/p>\n - One bedroom properties in Hataitai\/Brooklyn have increased by 22 per cent compared to October 2017. The median rent is now $310 per week.<\/p>\n - New Zealand 1\u20134 bedroom properties up 4 per cent to 9 per cent compared to\u00a0October 2017.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/strong><\/p>\n - Four bedroom\u00a0properties in Johnsonville\/Tawa, and Karori\/Kelburn have decreased by 4 per cent compared to October 2017. The median rent per week is now $595 and $770 respectively.<\/p>\n - Two bedroom properties in Northern Lower Hutt have decreased by 3 per cent compared to October 2017. The median rent is now $340 per week.<\/p>\n \u00a0<\/p>\n Bonds Lodged<\/strong><\/p>\n Activity is noticeably high in Wellington Central (215), Hutt Valley (162), Johnsonville\/Tawa (88), Napier (56) and Hastings (56). Overall there were 7138 bonds lodged across New Zealand in October.<\/p>"},[{"Icon":"record-or-document","Content":"Request a Free Rent Appraisal","Link":"https:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"property-management","Content":"Switch Your Property to Oxygen","Link":"https:\/\/www.oxygen.co.nz\/switch-your-property-to-oxygen"}]],"PageType":"NewsArticlePage","Sort":"7","Created":"2018-11-14 11:43:57","Blurb":" Every month we gather the most recent information on rental prices in Wellington and the Hawke's Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Stats-Header-October-2018.jpg"},{"URLSegment":"equity-in-your-investment-property","Title":"Equity in Your Investment Property","SEOTitle":"Equity in Your Investment Property","Heading":"Equity in Your Investment Property","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Equity-Hands.jpg"},{"Style":null,"Content":" Many property investors are not aware of the current value of their property and as a result are unaware of the equity they hold in their property(s). This month the latest Wellington Rateable Valuations (RV\u2019s) were released and we\u00a0encourage you to check out the latest RV of your property online at www.qv.co.nz<\/a>. The average property value has increased by 45% in Wellington, with some suburbs seeing even larger growth.<\/p>\n By utilising the equity that you have in your investment property, you may be able to purchase another investment property and in some instances with no or little additional out of pocket expenses. Due to the substantial growth in RV\u2019s you may even be able to borrow against your property without the added expense of arranging a registered valuation.<\/p>\n Our team can put you in touch with mortgage brokers, our Professionals Redcoats Limited Real Estate team and can offer you a complimentary rental appraisal to take to the bank \u2013 even if you are only considering putting in an offer on a property.<\/p>\n Simply call us and we can arrange a free, no-obligation rent appraisal - this will tell you how\u00a0much your property could be rented for in today\u2019s market. Our Business Development Team may be able to assist you in growing your property investment portfolio through using the potential equity in your property.<\/p>"},[{"Icon":"none","Content":"Free Rent Appraisal","Link":"https:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"Business Development Team ","Link":"https:\/\/www.oxygen.co.nz\/new-business"}]],"PageType":"NewsArticlePage","Sort":"8","Created":"2018-11-09 10:40:01","Blurb":" Many property investors are not aware of the current value of their property and as a result are unaware of the equity they hold in their property(s).<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Equity-Hands.jpg"},{"URLSegment":"rental-market-heats-up","Title":"Rental Market Heats Up","SEOTitle":"Rental Market Heats Up","Heading":"Rental Market Heats Up","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Mount-Victoria.jpg"},{"Style":null,"Content":" According to the latest Trade Me Rental Price Index, rents have remained high across the country with the national median weekly rent up 6.7 per cent to $480 per week, compared to September last year.<\/p>\n In the Wellington Region, rents have remained high, with the median weekly rent at $480 per week. While the median weekly rent in Wellington City has seen a strong annual growth of 9.3 per cent to $530 per week, it is the outer areas such as Upper Hutt and Porirua which have shown the largest annual increase says Trade Me Property\u2019s, Nigel Jeffries.<\/p>\n Upper Hutt experienced the biggest year-on-year growth of 18.6 per cent to $415 per week, while Porirua increased 14.5 per cent to $500 per week. Lower Hutt continues to be a hot favourite in the region with tenants choosing a longer commute in exchange for cheaper rent. Wellington\u2019s most popular rental on Trade Me was a house in Fairfield which had 65 enquiries in its first two days.<\/p>\n In Hawke\u2019s Bay, Trade Me figures\u00a0showed\u00a0the median weekly rent jump up 16.9 per cent over the past year to $400 per week. Rent for large (5 or more bedrooms) and medium (3-4 bedrooms) houses across New Zealand showed the largest annual increase in September, but all house sizes showed strong growth. \"The median weekly rent for small units, townhouses and apartments rose 6.1 per cent year-on-year to $435 per week in September, as some tenants opted for urban properties that are typically warmer, drier and in close to the city.\"<\/p>\n After last summer\u2019s hectic rental market in the Wellington Region, this summer might be much the same for tenants in Wellington and tenants can now expect to pay $30 more a week compared to last year. Rental prices over winter remained relatively steady this year, instead of taking the dips we normally see, and the rental market appears to be heating up already, due to some tenants choosing to make a move now to avoid the summer madness. Tenants in the capital will feel the pinch as reports say they can now expect to pay $30 more a week compared to last year.<\/p>\n Note: Trade Me\u2019s Rental Property Index is produced from Trade Me Property data of properties that have been rented during the month by property managers and private landlords.<\/p>"}],"PageType":"NewsArticlePage","Sort":"11","Created":"2018-10-30 14:15:23","Blurb":" According to the latest Trade Me Rental Price Index, rents have remained high across the country with the national median weekly rent up 6.7 per cent to $480 per week, compared to September last year.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Mount-Victoria.jpg"},{"URLSegment":"letting-fees-ban-2","Title":"Letting Fees Ban","SEOTitle":"Letting Fees Ban","Heading":"Letting Fees Ban","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Letting-Fees.jpg"},{"Style":null,"Content":" Earlier this month, it was announced that the Residential Tenancies (Prohibiting Letting Fees) Amendment Bill will likely come into force on Wednesday 12 December. The Select Committee has recommended the Bill come into force faster than originally proposed in order to reduce costs for tenants who may be moving during the peak period \u2013 between November and February.<\/span><\/p>\n The government's Bill will prevent landlords from directly passing the cost of a letting fee onto a tenant and says banning letting fees will reduce the upfront cost of a new tenancy. Although this bill still needs to go through its 2nd<\/sup> and 3rd<\/sup> reading, it is likely the government will make this a priority. Phil Twyford says \"Banning the charging of letting fees to tenants is a good first step in improving the lives of tenants, while we continue our broader review of the Residential Tenancies Act.\"<\/span><\/p>\n Naturally, we will be working to consider efficiency measures, however, like most other reputable management companies, we have very little capacity to absorb these costs without impacting service delivery and elevating risk. As things stand it is reasonable to expect that costs will now be borne by landlords in the first instance and recouped indirectly through rental income in due course on the principle that cost recovery flows back from the customer.<\/span><\/p>\n We completed the majority of our rent increases earlier than usual this year as we knew the changes were afoot. In addition to the assessment of market data other factors also come into play in determining weekly rent including the condition of the property, the relationship with the tenant, and factoring in these increased costs from the abolition of\u00a0letting fees.<\/span><\/p>\n While we understand the impending changes to the RTA and Healthy Homes Bill may impact the current environment as we know it <\/span>and also likely to include regulation of the property management industry, it is set to become one of the most significant years of change. Regulating the industry isn\u2019t a catch-all solution to deal with poor performance or attitudes within the industry however it will provide a framework for industry participants to be held accountable and this in conjunction with a genuine commitment to upping professional standards will benefit all parties.<\/span>\u00a0<\/span><\/p>\n We will keep you updated with more information as it comes to hand.<\/span><\/p>"}],"PageType":"NewsArticlePage","Sort":"12","Created":"2018-10-26 08:45:56","Blurb":" Earlier this month, it was announced that the Residential Tenancies (Prohibiting Letting Fees) Amendment Bill will likely come into force on Wednesday 12 December.<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Letting-Fees.jpg"},{"URLSegment":"rental-market-statistics-september-report","Title":"Rental Market Statistics: September Report","SEOTitle":"Rental Market Statistics: September Report","Heading":"Rental Market Statistics: September Report","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-September-2018.jpg"},[{"Icon":"none","Content":"Download the latest rental market statistics ","Link":"http:\/\/52.62.80.90\/assets\/September-2018-Statistics.pdf"}],{"Style":null,"Content":" Every month we gather the most recent information on rental prices in Wellington and the Hawke's Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.<\/p>\n Median Rent Increases\u00a0<\/span><\/p>\n - One bedroom properties in Miramar have increased by 38% compared to September 2017. The median rent is now $442 per week.<\/p>\n - One bedroom properties in Khandallah\/Ngaio have increased by 25% compared to September 2017. The median rent is now $400 per week.<\/p>\n - Two bedroom properties in Porirua have increased by 24% compared to September 2017. The median rent is now $410 per week.<\/p>\n - Two bedroom properties in Napier Central have increased by 14% compared to September 2017. The median rent is now $400 per week.<\/p>\n - Three bedroom properties in Napier South have increased by 18% by September 2017. The median rent is now $420 per week.<\/p>\n - New Zealand 1\u20134 bedroom properties up 3% to 10% compared to\u00a0September 2017.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/span><\/p>\n - One bedroom\u00a0properties in Lower Hutt have decreased by 10% compared to September 2017. The median rent is now $180 per week.<\/p>\n - Three bedroom properties in Karori\/Kelburn have decreased by 9% compared to September 2017. The median rent is now $590 per week.<\/p>\n - One bedroom properties in Napier Central have decreased by 15% compared to September 2017. The median rent is now $255 per week.<\/p>\n \u00a0<\/p>\n Bonds Lodged<\/span><\/p>\n Activity is noticeably high in Wellington Central (208), Lower Hutt (128), Johnsonville\/Tawa (75), and Hastings (58).<\/p>\n Overall there were 7032 bonds lodged across New Zealand in September.<\/p>"},[{"Icon":"none","Content":"Download the latest rental market statistics","Link":"http:\/\/52.62.80.90\/assets\/September-2018-Statistics.pdf"}]],"PageType":"NewsArticlePage","Sort":"13","Created":"2018-10-12 16:53:44","Blurb":" Every month we gather the most recent information on rental prices in Wellington and the Hawke's Bay. This is a great way to look at an overview of how much you could potentially rent out your investment property for.<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/September-2018.jpg"},{"URLSegment":"proposed-new-standards-for-rental-homes","Title":"Proposed New Standards for Rental Homes","SEOTitle":"Proposed New Standards for Rental Homes","Heading":"Proposed New Standards for Rental Homes","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Parliament.jpg"},{"Style":null,"Content":" Last month, the Government released consultation documents on the following proposed legislative changes. They are now seeking feedback and we encourage you to have your say. They have committed to improving the quality of rental properties so tenants are happier and healthier while also solving underlying issues such as affordability. Read on for more information.<\/p>\n The healthy homes standards will set minimum requirements for heating, insulation, ventilation, moisture and drainage, and draught stopping in residential rental properties. These standards were enabled by the Healthy Homes Guarantee Act 2017 which was passed into law in December 2017.<\/p>\n A discussion document outlining options for the standards and an online submission form are available at\u00a0www.mbie.govt.nz\/healthy-homes\u00a0<\/a>.\u00a0The discussion document also seeks feedback on the timing and phasing for when landlords must comply with the standards. Submissions must be received by 6pm on Monday 22 October 2018 and the regulations containing the Healthy Homes standards must be in place by 1 July 2019.<\/p>\n The reform of the Act provides an opportunity to consider whether the law governing New Zealand's rental market strikes an appropriate balance between protecting a landlord\u2019s interest in their property, and ensuring tenants receive fair rights for the rent they are paying.<\/p>\n The discussion document covers the following proposed changes:<\/p>\n A discussion document and a link to an online submission survey are available at\u00a0www.mbie.govt.nz\/rta-reform\u00a0<\/a>. Submissions must be received by 5pm on Sunday 21 October 2018.<\/p>"}],"PageType":"NewsArticlePage","Sort":"14","Created":"2018-10-04 13:33:04","Blurb":" Last month, the Government released consultation documents on the following proposed legislative changes. They are now seeking feedback and we encourage you to have your say.\u00a0<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Parliament.jpg"},{"URLSegment":"do-you-realise-what-your-rental-property-is-worth-in-todays-market","Title":"Do You Realise What Your Rental Property Is Worth in Today\u2019s Market?","SEOTitle":"Do You Realise What Your Rental Property Is Worth in Today\u2019s Market?","Heading":"Do You Realise What Your Rental Property Is Worth in Today\u2019s Market?","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Property-Inspection.jpg"},{"Style":null,"Content":" Property values have increased rapidly in recent times so now is a great time to leverage the value of your existing portfolio (even if you own only one property), to purchase an additional property. Not knowing the value of your investment property could be costing you money and the opportunity to expand your property investment portfolio.<\/p>\n Are you aware of the equity that you have in your investment property which you might be able to use to buy another property (notwithstanding the new LVR Rules)? Our team will help you to find the answers to unlock the growth potential that your property holds.<\/p>\n If you have substantial equity in your current investment property, there is a chance that you may not have any out of pocket expenses when purchasing another one. We have found that many property investors are unaware that the value of their investment property has increased to the extent that it can enable them to increase their net worth.<\/p>\n Simply call our office to arrange a free no-obligation rental appraisal of your property. At Oxygen, we not only have access to mortgage advisers, but we work closely with the Professionals Redcoats so we can also advise on suitable investment properties for sale. Even if you do not have sufficient equity in your property today, being aware of its current value can assist you in the future.<\/p>"},[{"Icon":"none","Content":"Request a Rent Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"Our Business Development Team","Link":"http:\/\/www.oxygen.co.nz\/new-business"}]],"PageType":"NewsArticlePage","Sort":"15","Created":"2018-10-03 13:56:34","Blurb":" Property values have increased rapidly in recent times so now is a great time to leverage the value of your existing portfolio (even if you own only one property), to purchase an additional property. Not knowing the value of your investment property could be costing you money and the opportunity to expand your property investment portfolio.<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Property-Inspection.jpg"},{"URLSegment":"rents-continue-to-rise","Title":"Rents Continue to Rise","SEOTitle":"Rents Continue to Rise","Heading":"Rents Continue to Rise","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Cable-Car.jpg"},{"Style":null,"Content":" Although the rental market generally slows down over the cooler months, the latest statistics released last week from Trade Me\u00a0has shown rents have continued to rise around New Zealand. In August, the national median weekly rent was up 6.7 per cent on a year ago, at a record high $480.<\/p>\n In the Wellington Region, the median weekly rent was up 8.9 per cent at\u00a0$490 per week, just $10 less than the record $500 per week hit in January this year. \u00a0Trade Me said Hutt Valley continues to be the hot favourite in the region, with the median weekly rent in Lower Hutt climbing 16.4 per cent on last year to a record $480 in August. Wellington\u2019s most popular rental on Trade Me was a two-bedroom townhouse in Crofton Downs which had 51 enquiries in its first two days.<\/p>\n In Hawke\u2019s Bay, Trade Me figures\u00a0showed\u00a0the median weekly rent jumped 13.9 per cent over the past year to $410. This is more than double the national increase of 6.7 per cent. Trade Me's head of rentals Aaron Clancy said Hawke's Bay rents had been rising as more people moved there. \"Kiwis are staying in rentals longer to save up for a deposit on their first house and this is what is driving a 15 per cent decrease in the number of available rentals compared to last year.\u201d Small houses and units have been growing in popularity in Hawke\u2019s Bay with the median weekly rent for units increasing by 23.6 per cent.<\/p>\n Although rents start to increase as we get closer to summer, this year has started even earlier.\u00a0 Trade Me says rents have been pushed up by both a shortage of properties and some tenants choosing to make a move now to avoid risking a costlier rental property come summer. It could point to a record summer of growth as supply battles to keep up with demand.<\/p>\n Note: Trade Me\u2019s Rental Property Index is produced from Trade Me Property data of properties that have been rented during the month by property managers and private landlords.<\/em><\/p>"}],"PageType":"NewsArticlePage","Sort":"16","Created":"2018-10-03 11:52:55","Blurb":" Although the rental market generally slows down over the cooler months, the latest statistics released last week from Trade Me\u00a0has shown rents have continued to rise around New Zealand. In August, the national median weekly rent was up 6.7 per cent on a year ago, at a record high $480.\u00a0<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Cable-Car.jpg"},{"URLSegment":"rental-market-statistics-august-report","Title":"Rental Market Statistics: August Report","SEOTitle":"Rental Market Statistics: August Report","Heading":"Rental Market Statistics: August Report","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Stats-Header-August-2018.jpg"},[{"Icon":"none","Content":"Download the rental market statistics report for August","Link":"http:\/\/52.62.80.90\/assets\/August-Statistics.pdf"}],{"Style":null,"Content":" Median Rent Increases\u00a0<\/strong><\/p>\n - One bedroom properties in Kilbirnie and Island Bay have increased by 19% compared to August last year. - Two bedroom properties in Hataitai and Brooklyn have increased by 17% compared to August last year. - Three bedroom properties in Khandallah and Ngaio increased by 15% compared to August last year. - One bedroom properties in Khandallah and Ngaio increased by 13% compared to August last year. - Two bedroom properties in Napier Central have increased by 27% compared to August last year. - Three bedroom properties in Taradale have increased by 21% compared to August last year. - New Zealand totals are incrementally up with 1\u20134 bedroom properties up 4% to 9% compared to\u00a0August last year.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/strong><\/p>\n - Three bedroom properties in Napier Central have decreased by 5% compared to\u00a0August last year. - Two bedroom properties in Miramar have decreased by 21% compared to August last year. - One bedroom properties in Johnsonville\/Tawa have decreased by 18% compared to August last year. - Three bedroom properties in Karori\/Kelburn have decreased by 7% compared to August last year. \u00a0<\/p>\n Bonds Lodged<\/strong><\/p>\n Activity is noticeably high in Wellington Central (245), Lower Hutt (154), Hastings (93), Johnsonville\/Tawa (82), Napier (77), and Hataitai\/Brooklyn (72).<\/p>\n Overall there were 8098 bonds lodged across New Zealand in August.<\/p>"},[{"Icon":"none","Content":"Download the rental market statistics report for August","Link":"http:\/\/52.62.80.90\/assets\/August-Statistics.pdf"}]],"PageType":"NewsArticlePage","Sort":"17","Created":"2018-09-25 10:31:38","Blurb":" One bedroom properties in Kilbirnie and Island Bay have increased by 19% compared to August last year. Heating is another major topic in the media at the moment.\u00a0A recent survey by Statistics New Zealand found that over 48% of New Zealanders live in a cold home. Cold, unheated properties not only bring with them a lot of problems, they also create havoc for people who are old, sick or very young. Having a warm rental will help to minimise the dollars spent on doctor\u2019s visits, and the rental property is also less likely to suffer from structural damage.<\/p>\n House occupants produce a significant amount of moisture in their day-to-day activities, for example, cooking, showering and drying laundry. Even breathing has an effect \u2013 each person produces 1 litre of moisture per day this way. Moisture condenses on cold surfaces, such as uninsulated walls.<\/p>\n As well as dampness being a health risk in itself, it can lead to mould growth, which may also contribute to respiratory problems. Mould growth is worse when there is also poor ventilation, such as when a house has well-sealed aluminium windows that are kept shut or doesn\u2019t have an extractor fan in the bathroom.<\/p>\n The World Health Organisation (WHO) recommends a minimum indoor temperature of 18 degrees. Research published in 2010 by the Building Research Association of New Zealand (BRANZ) found that the average daily indoor temperature of living rooms in New Zealand in winter was just 16 degrees, with some a chilly 10 degrees. If house temperatures fall below 16 degrees, the risk of respiratory illness increases. This is because cold houses are also usually damp, which can lead to respiratory symptoms. One-third of rental houses also felt damp compared with just 11% of owner-occupied houses.<\/p>\n The Healthy Homes Guarantees Act means that new heating standards will come into effect by July next year, so now is as good a time as any to consider the effect of temperatures on your rental properties and to look at ways to ensure your rental property is up to standard without breaking the budget.<\/p>\n While the details of these standards are yet to be specified by the Government, Ministry of Business, Innovation and Employment (MBIE) are set to release a consultation paper on the upcoming minimum standards (including heating sources) shortly. Although no one knows exactly what will be recommended yet when it comes to heating, it is likely a\u00a0heat pump will be made mandatory or least the preferred option.<\/p>\n Heat pumps are the most effective method when it comes to turning energy to heat which means you pay less in power bills. They are also good at warming a room quickly. To effectively and efficiently heat a three-bedroom home, one heat pump would be required in the living area, along with one smaller heat pump for each bedroom. [Source]<\/p>\n While its understandable landlords will want to minimise the costs of installing a heat pump, even the most basic heat pump will be effective at warming up a home. It also pays to keep in mind that you can be paying more for a brand name when there a no obvious product differences.<\/p>\n Some criteria to note prior to the installation of a heat pump is building type, insulation, wooden or aluminium joinery, window coverings, heat pump indoor\/outdoor unit location, and house orientation. Also, the older the home, the more likely it will lose heat so a bigger heat pump may be required to overcome this heat loss.<\/p>\n While MBIE are set to release its consultation period on the minimum standards over the coming months, the finalised standards are unlikely to be law until July next year. In the meantime, landlords should check to see if their local council has a list of approved forms of heating under the\u00a0Housing Improvement Regulations 1947. If the council doesn\u2019t have such a list, as a minimum, landlords should supply inexpensive plug-in heaters for their tenants if they don\u2019t already. It is suggested that landlords install energy efficient and clean burning forms of heat sources, like heat pumps, whenever practicable. For more information about heat pumps, please visit www.eeca.govt.nz<\/a>.<\/p>\n At Oxygen, we are here to help landlords navigate and adhere to the latest regulations the best way possible that does not cost the earth. Please contact your property manager<\/a> if you want to discuss heating options so we can help you reduce your risk of not being compliant.<\/p>"}],"PageType":"NewsArticlePage","Sort":"18","Created":"2018-08-20 13:43:56","Blurb":" A recent survey by Statistics New Zealand found that over 48% of New Zealanders live in a cold home. Cold, unheated properties not only bring with them a lot of problems, they also create havoc for people who are old, sick or very young. Having a warm rental will help to minimise the dollars spent on doctor\u2019s visits, and the rental property is also less likely to suffer from structural damage.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Heating.jpg"},{"URLSegment":"understanding-your-rental-yield","Title":"Understanding Your Rental Yield","SEOTitle":"Understanding Your Rental Yield","Heading":"Understanding Your Rental Yield","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Rental-Yield.jpg"},{"Style":null,"Content":" They say investing in property isn't rocket science but it does require a fair bit of homework. That\u2019s where understanding potential returns on investments comes in.<\/p>\n It's every property investor's dream to own a property that has a high yield, will deliver large capital gains, has a strong rental return and will require low maintenance costs. Whilst rental yields are certainly not the only consideration, being able to calculate rental yield to compare properties will assist you in your purchasing decision. Here are some basics to help you understand what rental yield means and how to calculate it.<\/p>\n Rental yield (rental return) is a way of measuring your return on investment in comparison to the cost of the property. Rental yield can be calculated as a gross percentage, before expenses are deducted, or as a net percentage, with costs, accounted for.<\/p>\n This is the income return on your investment before any expenses, outgoings or possible rental vacancies are taken into account. Gross yield also does not take interest rates into account.<\/p>\n Gross rental yield is commonly used when looking at returns, as it is simple to calculate and lets you easily compare properties with different values and rental returns.<\/p>\n To calculate, take the annual rental income (weekly rent x 52 weeks) and divide by the property value. Then multiply this number by 100.<\/em><\/p>\n This is the income return on your investment after any expenses or other outgoings, such as maintenance and insurance, are taken out. Net yield is sometimes referred to as \u2018rate of return\u2019.<\/p>\n Expenses or loss of rental income can include:<\/p>\n To calculate, take the annual rental income and minus the annual expenses or loss of rental income from this. Then divide this number by the property value and multiply this number by 100.<\/em><\/p>\n The Rental Yield Indicator<\/a> table shows indicative gross rental yields for 3 bedroom houses in\u00a056\u00a0selected areas with high rental activity during a six month period ending June 2018. Based on REINZ lower quartile selling prices and median rents recorded by Tenancy Services' Bonds Centre.<\/p>\n Want to find out how much rent you could get for your property? To find out where your house sits in the local market, talk to our team today.<\/p>"},[{"Icon":"none","Content":"Get a free rent appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"Contact a Business Development Manager","Link":"http:\/\/www.oxygen.co.nz\/new-business"},{"Icon":"none","Content":"Check out the latest market and rental report","Link":"http:\/\/www.oxygen.co.nz\/news\/rental-market-statistics-july-report"}]],"PageType":"NewsArticlePage","Sort":"19","Created":"2018-08-20 11:56:16","Blurb":" They say investing in property isn't rocket science but it does require a bit of homework. That\u2019s where understanding potential returns on investments comes in.\u00a0It's every property investor's dream to own a property that has a high yield, will deliver large capital gains, has a strong rental return and will require low maintenance costs.<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Rental-Yield.jpg"},{"URLSegment":"smoke-alarms-save-lives-and-rental-properties","Title":"Smoke Alarms Save Lives and Rental Properties","SEOTitle":"Smoke Alarms Save Lives and Rental Properties","Heading":"Smoke Alarms Save Lives and Rental Properties","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Smoke-alarms.jpg"},{"Style":null,"Content":" Photoelectric smoke alarms with a long-life battery. The battery must have a lifespan of at least 10 years. Consumer NZ testing has shown photoelectric alarms are much better than cheaper ionization models at detecting slow smouldering fires. They recommend\u00a0Warrior Photoelectric smoke alarms (exclusive to Mitre 10)<\/a>. Hard-wired smoke alarms are also allowed.<\/p>\n The alarm must meet the required product standards. Look for one of the following standards on the packaging:<\/p>\n Landlords\u00a0must ensure alarms are in \u201cgood working order\u201d, i.e. free of dust and working at the start of a new tenancy (press the test button or look for the flashing warning light). Landlords must give 24 hours\u2019 notice before entering a property to check smoke alarms.<\/p>\n Landlords\u00a0must replace long-life smoke alarms when they reach the manufacturer\u2019s recommended replacement date, or if the alarm is more than 8 years old where there\u2019s no recommended replacement date.<\/p>\n Tenants\u00a0must replace 9V batteries in any functioning disposable battery-powered alarms installed before these regulations took effect in 2016.<\/p>\n There must be one alarm in:<\/p>\n If you have any further questions regarding smoke alarms in your rental property, please contact your Property Manager or send us an email on hello@oxygen.co.nz.<\/p>"},[{"Icon":"none","Content":"More information","Link":"https:\/\/www.tenancy.govt.nz\/maintenance-and-inspections\/smoke-alarms\/"}]],"PageType":"NewsArticlePage","Sort":"20","Created":"2018-08-17 13:24:39","Blurb":" Photoelectric smoke alarms with a long-life battery. The battery must have a lifespan of at least 10 years. Our testing has shown photoelectric alarms are much better than cheaper ionization models at detecting slow smouldering\u00a0fires.\u00a0<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Smoke-alarms.jpg"},{"URLSegment":"rental-market-statistics-july-report","Title":"Rental Market Statistics: July Report","SEOTitle":"Rental Market Statistics: July Report","Heading":"Rental Market Statistics: July Report","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Stats-Header-July-2018.jpg"},[{"Icon":"none","Content":"Download the rental market statistics report for July","Link":"http:\/\/52.62.80.90\/assets\/July-Statistics.pdf"}],{"Style":null,"Content":" Median Rent Increases<\/strong>\u00a0<\/strong><\/p>\n - Four bedroom properties in Wellington Central have posted a 48% increase compared to July last year. - One bedroom properties in Khandallah and Ngaio have posted a 31% increase compared to July last year. - One bedroom properties in Porirua have posted a 25% increase compared to July last year. - Three bedroom properties in Southern Lower Hutt have posted a 20% increase compared to July last year. - Three bedroom properties in Taradale have posted a 23% increase compared to July last year. - Three bedroom properties in Napier South have posted an 11% increase compared to July last year. - New Zealand totals are incrementally up with 1\u20134 bedroom properties up 1% to 4% compared to\u00a0July last year.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/strong><\/p>\n - Three bedroom properties in Miramar have decreased by 11% compared to\u00a0July last year. - Three bedroom properties in Wellington Central have decreased by 8% compared to July last year. - Two bedroom properties in Hataitai and Brooklyn have decreased by 8% compared to July last year. \u00a0<\/p>\n Bonds Lodged<\/strong><\/p>\n Activity is noticeably high in Wellington Central (241), Lower Hutt (134), Johnsonville and Tawa (92), Upper Hutt (88), Hastings (83), and Napier (71).<\/p>\n Overall there were 7942 bonds lodged across New Zealand in July.<\/p>"},[{"Icon":"none","Content":"Download the rental market statistics report for July","Link":"http:\/\/52.62.80.90\/assets\/July-Statistics.pdf"}]],"PageType":"NewsArticlePage","Sort":"21","Created":"2018-08-10 14:38:40","Blurb":" \u00a0Four bedroom properties in Wellington Central have posted a 48% increase compared to July last year.\u00a0<\/span>The median rent is now $740 per week.<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Stats-Header-July-2018.jpg"},{"URLSegment":"first-time-investors","Title":"A Few Tips for First Time Investors","SEOTitle":"A Few Tips for First Time Investors","Heading":"A Few Tips for First Time Investors","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Key-and-House.jpg"},{"Style":null,"Content":" Property investment is an idea that has most likely crossed all your minds from time to time. It might go as far as saving a watch list of property potentials on Trade Me, and maybe a few \u2018what if\u2019 chats with friends and family\u2026but eventually the little flame dies out and we move on with our everyday lives.<\/p>\n It can get overwhelming when you do try to follow the idea up. Suddenly you\u2019ll need to book meetings with the bank, and you\u2019ll be asking yourself financial questions you weren\u2019t quite ready for yet. Perhaps you\u2019ve read one too many advice articles online and some of them are starting to contradict!\u00a0<\/p>\n Don\u2019t go giving up the dream just yet. We are here to assure you it isn\u2019t quite as complex a project as it might seem \u2013 buying and investing in property is actually rather straightforward! Let\u2019s break things down into a simple, stress-less list you can follow starting today!<\/p>\n Essentially, write yourself a list of your assets and income. These are the positives. On a separate list, go ahead and calculate your expenses.<\/p>\n Usually most individuals will give up at this point as they automatically assume they aren\u2019t financially ready to \u2018throw big money\u2019 at a property, but if you take the time to investigate how much you have incoming, outgoing, or sitting around the house\/garage...you\u2019ll be surprised at what you can achieve sooner rather than later.<\/p>\n At the end of the day, a healthy, reliable income can often be the golden ticket that will award you with your loan should you apply for one.<\/p>\n This step is key, especially if you are still unsure whether or not you are financially ready to invest. Talk to your bank or a mortgage broker, but be careful how many inquiries you make as these will show up on your credit score and put off potential lenders!<\/p>\n When you meet up with your chosen lender for pre-approval, you\u2019ll be focussing on a few important pieces of personal information: finding out if you do indeed qualify for a loan, a check of your current credit rating, and whether or not you should consider making a few cuts in your debt\/credit card limits.<\/p>\n Don\u2019t leave until you have a comfortable understanding of where you are at and how likely a loan is looking for you.<\/p>\n You know the drill here.<\/p>\n If you have ever worked to complete a task, you know to enter with a clear idea of what you want to achieve, and by when. Ask yourself a few of the important questions such as:<\/p>\n Most importantly, set yourself an official deadline of when you hope to achieve your goals by. If you have a partner, friend, or family member who is in on the investment with you as well, make sure that they are on the same page here.<\/p>\n If you are looking to one day retire on the income you will be making off your properties, go ahead and make those goals stretch across a nice broad deadline. Ten years, twenty years? Pace yourself, it\u2019s a long-term plan.<\/p>\n It\u2019s spreadsheet time! Budgeting is nobody\u2019s favourite part of the journey, but it is the only way in which you can ensure your income and expenses balance to allow you to venture forth on your investment journey. It\u2019s important to crunch numbers before you go along to too many open homes.<\/p>\n Here is where things need to get a little more technical than you might have been expecting. It\u2019s time to refine a purchase plan for yourself: an order in which you can tackle properties confidently without hesitation or confusion.<\/p>\n Here is an example of a soundly-structured order in which you can approach property investment, from browsing the market to receiving the key:<\/p>\n Keep your finger on the property market pulse as often as you can. You have the entire internet at your disposal, so read up and use it well! Be polite and friendly with the real estate agents you meet during your travels to open homes; often they can provide you with valuable insights, sometimes even a few suggestions for properties you might have missed. And above all \u2013 good luck!<\/p>\n If you want to chat to one of our team about how an Oxygen Property Manager might give you peace of mind once you\u2019re invested - drop us a line to hello@oxygen.co.nz.<\/p>"},[{"Icon":"none","Content":"Property Management","Link":"http:\/\/www.oxygen.co.nz\/landlords"},{"Icon":"none","Content":"Customer Reviews","Link":"https:\/\/nz.trustpilot.com\/review\/oxygen.co.nz"}]],"PageType":"NewsArticlePage","Sort":"22","Created":"2018-08-03 08:32:44","Blurb":" Property investment is an idea that has most likely crossed all our minds from time to time. It might go as far as saving a watch list of property potentials on Trade Me, and maybe a few what if chats with friends and family but eventually the little flame dies out and we move on with our everyday lives.<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Key-and-House.jpg"},{"URLSegment":"eight-tips-to-finding-new-tenants-this-winter","Title":"Finding New Tenants in Winter","SEOTitle":"Finding New Tenants in Winter","Heading":"Finding New Tenants in Winter","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-House-and-scarf.jpg"},{"Style":null,"Content":" A bright home is like a beacon to potential tenants. With fewer hours of daylight to work with, a well-lit house becomes exceedingly important for tenants to comfortably function. If your abode needs brightening you can start with the exterior, ensuring all walkways and entrances to the home are flooded with light where needed, otherwise, tenants will be reduced to fumbling around in the darkness trying to unlock doors or tripping down stairs. For the interior, opt for light coloured decor and wider windows throughout in houses that become caught in early in shadows. Light surfaces will reflect even the smallest amounts of sunlight and send it shining into the darker nooks and crannies. This technique was developed in purpose-designed Scandinavian homes, where winters are as dark as they are lengthy!<\/p>\n Tenants property hunting over cooler months will always gravitate to a warm, cosy property they can picture themselves snuggling up in during those long winter nights.\u00a0 An inadequately insulated property is quick to chill and hard to heat. Poor moisture control systems can cause bitter wet air to seep into rooms and linger (causing further problems such as mould and mildew). Invest in proper heating for your home this winter; a well-heated home makes for a happy tenant.<\/p>\n While outgoing tenants might leave the place neat and, tidy it still pays to employ a professional to get your property sparkling. Professional cleaning companies are experienced and always prepared with the right tools for the job. Have your property pristine with a thorough deep cleaning service that covers all surfaces from windows, walls, woodwork and floors. Potential tenants will appreciate the fresh start.<\/p>\n Winter is notorious for locking in moisture and keeping it too cool to evaporate. Wet winter air finds its way to window frames, bathrooms and washrooms, causing them to fall victim to spots of mould and mildew; a definite deal breaker to potential tenants. Thoroughly scan the walls and ceilings for traces of mould and mildew, and then treat the problem areas with chemicals to ensure that mould will not be back to haunt future tenants!<\/p>\n Make sure, too, that sides of your property\u2019s curtains exposed to windows are free of any mould. Replace these with fresh curtains if necessary, and encourage tenants to open doors and windows as often as possible to maintain healthy airflow for your property.<\/p>\n A well-maintained property speaks for itself...and for its owner. Tenants can form a sense of trust and reliability toward a property and its owner when they observe quality through the details. Functional fixtures, fresh paint and a manicured garden each play an important part when conveying the condition of a property to a tenant. If everything is clean and in working order, it is likely to stay that way.<\/p>\n Of course, the most attractive feature a property might possess (to some) will most likely be the price. Lowering the rental price when marketing your property online and off can often be the instant advantage you needed to set your house above the rest. Browsing tenants will go a long way for a bargain. While it might seem risky, it will almost guarantee a fast and plentiful response.<\/p>\n A fenced property is an ultimately attractive feature for all potential tenants. For families, a fenced garden area instantly turns your property into a possibility by providing a safe play area for younger children. Likewise, pet owners appreciate a protected outdoor area where their fur babies can roam free. Fences can be an extremely attractive element in the gardens of shared properties, too, where residents can benefit from separated washing\/garden sections (for some, shared garden facilities can tend to be awkward and off-putting).<\/p>\n Let\u2019s just say that (for most potential tenants) parking is probably sitting somewhere at the top of their \u2018property requirements\u2019 list. Potentially the most valuable feature a Wellington property can possess is off-road parking. Off-road parking is a rare and endangered property perk in our fair windy city. Investing in a simple parking space for your property could be the game changer you needed to elevate your property to the top of someone\u2019s \u2018watch list\u2019.<\/p>"},[{"Icon":"none","Content":"Free Rental Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"Customer Reviews","Link":"https:\/\/nz.trustpilot.com\/review\/oxygen.co.nz"}]],"PageType":"NewsArticlePage","Sort":"23","Created":"2018-08-02 14:18:15","Blurb":" A bright home is like a beacon to potential tenants.\u00a0With fewer hours of daylight to work with, a well-lit house becomes exceedingly important for tenants to comfortably function.<\/span><\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/House-and-scarf.jpg"},{"URLSegment":"record-winter-rent-growth","Title":"Record Winter Rent Growth","SEOTitle":"Record Winter Rent Growth","Heading":"Record Winter Rent Growth","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Cable-Car.jpg"},{"Style":null,"Content":" Although the rental market generally slows down over the cooler months, the latest statistics released this week from Trade Me\u00a0has shown rents have been climbing at an unseasonal rate, driven mainly by strong growth in the regions. In June, the national median weekly rent hit a new record of $480, that\u2019s a 6.7% increase compared to this time last year.<\/p>\n In the Wellington Region, the median weekly rent remains at a record high for a third consecutive month with $480, but it seems to be the quieter suburbs that are seeing the growth, not the usually popular inner city. Wellington\u2019s most popular rental listings on Trade Me in June were in Naenae (69 enquiries), Korokoro (52 enquiries) and Taita (45 enquiries).<\/p>\n Tenants in Wellington seem to be opting for a longer commute than usual. \u00a0Nigel Jeffries, Head of Trade Me Property, says, \u201cIt\u2019s a well-established trend for home buyers to look further out to get onto the property ladder and now it seems tenants are doing the same with rental properties. Tenants are now weighing up the convenience of living in the central city, with record-breaking rents. At some point, convenience loses out to saving money. Just like when buying a property, you get more bang for your buck when you move to quieter places, out from the centre of the city.\u201d\u00a0<\/p>\n The Hutt Valley has seen a big surge in interest and rental prices, with the median rent in Upper Hutt up 18.4 per cent on last year to $450 per week, Lower Hutt up 8.8 per cent to $462.50 and Porirua up 11.2 per cent to $522.50. Wellington City had a much smaller increase of 3.1 per cent to $500 per week. Tenants were more interested in rentals in Lower Hutt than any other area in June, with the number of enquiries in the first two days climbing 60 per cent in Lower Hutt. In Upper Hutt, the number of enquiries was also up a solid 16 per cent while Wellington City fell 10 per cent on a year ago.<\/p>\n Meanwhile, townhouses in Wellington and small houses nationwide are enjoying growth in popularity with median weekly rents on the rise.\u00a0 Small houses are proving to be very popular, hitting a new high in June, with the median weekly rent for townhouses in the capital jumping up 19.7 per cent to $533 per week.<\/p>\n In Hawke\u2019s Bay, the median weekly rent reached a record high in June, up 11.1 per cent compared to June 2017. Across the board, most regions saw solid double-digit growth in June. Nigel Jeffries says, \u201cIt\u2019s rare to see such significant increases in the winter months when typically the rental market slows down. It could point to a record summer of growth as supply battles to keep up with demand.\u201d<\/p>\n Note: Trade Me\u2019s Rental Property Index is produced from Trade Me Property data of properties that have been rented during the month by property managers and private landlords.<\/em><\/p>\n \u00a0<\/em><\/p>"}],"PageType":"NewsArticlePage","Sort":"24","Created":"2018-08-01 12:17:00","Blurb":" Although the rental market generally slows down over the cooler months, the latest statistics released this week from Trade Me\u00a0has shown rents have been climbing at an unseasonal rate, driven mainly by strong growth in the regions. In June, the national median weekly rent hit a new record of $480, that\u2019s a 6.7% increase compared to this time last year.\u00a0<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Cable-Car.jpg"},{"URLSegment":"behind-every-review-is-an-experience-that-matters-working-with-trustpilot","Title":"Behind Every Review Is an Experience That Matters","SEOTitle":"Behind Every Review Is an Experience That Matters","Heading":"Behind Every Review Is an Experience That Matters","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Trustpilot.jpg"},{"Style":null,"Content":" Anyone who has ever started any kind of business will tell you they are the best at what they do. Better than the competition on fees, quality, on\u2026well, everything. So how do you as a property investor work out who is actually head and shoulders above the rest in the property management industry?<\/p>\n The saying \u201cyou\u2019re only as good as your last success\u201d rings true. Your latest reviews are the key and the more the better which is why businesses of all different sizes are turning to\u00a0review websites to allow their customers to recommend them (hopefully) to others looking for a similar service.<\/p>\n We know that our reputation is everything in this very competitive industry so we wanted to provide our customers with a reliable place to leave an honest review, quickly and easily, and\u00a0the customer review management tool TRUSTPILOT fits that bill. TRUSTPILOT\u2019s aim is to build trust and transparency between consumers and businesses and improve the customer experience overall, which is very important to us.<\/p>\n Every day our team works really hard to do the best for each and every tenant or landlord, so we had no worries about opening ourselves up to the public vote. We\u2019re also in very good company, with over 120,000 businesses across 65 countries being reviewed every day online.<\/p>\n To top that off, we have collected 240 reviews, 90% of which are 4 (GREAT) and 5 (EXCELLENT) star giving\u00a0us an overall TrustScore of 8.8\/10. Oxygen is also the top-rated business in the Property Management category, ranked by TrustScore.\u00a0\u00a0<\/p>\n What\u2019s great about TRUSTPILOT is that it\u2019s not only extremely easy for us to use as a business tool, but it\u2019s easy for our customers to log on and give us a review. All reviews, good or bad are published automatically. What are you waiting for? Go and check out our reviews right now at www.trustpilot.com\/review\/oxygen.co.nz<\/a>.<\/p>"},[{"Icon":"none","Content":"See our reviews on Trustpilot","Link":"https:\/\/nz.trustpilot.com\/review\/oxygen.co.nz"}]],"PageType":"NewsArticlePage","Sort":"25","Created":"2018-07-17 09:33:31","Blurb":" Anyone who has ever started any kind of business will tell you they are the best at what they do. Better than the competition on fees, quality, on\u2026well, everything. So how do you as a property investor work out who is actually head and shoulders above the rest in the property management industry?<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Trustpilot.jpg"},{"URLSegment":"property-management-in-the-political-landscape","Title":"Property Management in the Political Landscape","SEOTitle":"Property Management in the Political Landscape","Heading":"Property Management in the Political Landscape","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Parliament.jpg"},{"Style":null,"Content":" As we reach the halfway point of the year, it\u2019s a good time to take a look at the property management industry in the political landscape. Here are a few policies that have been in discussion over the past six months, and how they are tracking.<\/p>\n The Select Committee reported back on 16\u00a0April 2018 and made the following recommendations:<\/p>\n We await timing around when the second reading of the Bill will be and will keep you updated accordingly. In a recent media release from REINZ, MBIE advised that once the Act passes it will promulgate regulations under the Act in relation to meth. We, along with REINZ, welcome any clarity that these regulations will bring around meth testing and acceptable contamination levels, in relation to the report by Professor Sir Peter Gluckman.<\/p>\n In March the Minister for Housing announced a Bill which proposes that no person, including property managers, can require a tenant to pay a letting fee, or any other fee, in relation to a tenancy.<\/p>\n This was initially going to be considered as part of a wider overhaul of rental legislation, but the Minister decided to announce a stand-alone Bill instead.<\/p>\n REINZ submitted on the Bill in May and now awaits findings from the Select Committee which are due by 5 October 2018.<\/p>\n Whilst REINZ acknowledged that banning letting fees will reduce upfront fees for tenants, it is our view that:<\/p>\n REINZ has been vocal on this issue in the media and has continued to praise the hard work that our property management sector does, but at the same time continues to advocate for regulation of the industry.<\/p>\n We will continue to keep you up to date with all things property management over on our website at www.oxygen.co.nz\/news<\/a> and on our property investor\u2019s Facebook page so make sure you give it a like.<\/p>\n \u00a0<\/p>"}],"PageType":"NewsArticlePage","Sort":"26","Created":"2018-07-19 14:23:19","Blurb":" As we reach the halfway point of the year, it\u2019s a good time to take a look at the property management industry in the political landscape. Here are a few policies that have been in discussion over the past six months, and how they are tracking.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Parliament.jpg"},{"URLSegment":"how-to-add-value-to-your-rental-property","Title":"How to Add Value to Your Rental Property","SEOTitle":"How to Add Value to Your Rental Property","Heading":"How to Add Value to Your Rental Property","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Add-Value.jpg"},{"Style":null,"Content":" As an investor, you want to get the most out of your property. A rental is a significant\u00a0investment, but done right it can yield huge financial rewards now, and for years to come.<\/p>\n Making the right renovations to your property will add value and allow you to increase your monthly earnings. These changes don\u2019t need to be difficult; if you think you can\u2019t afford the time and money it would take to fix up your rental, think again.<\/p>\n There are a number of simple, fast and relatively cost-effective things you can do to boost the value of your rental property and attract great tenants. These improvements focus on fundamental rather than cosmetic fixes that will help you get the results you want.<\/p>\n In this blog, we explain five easy ways to enhance any property and improve returns.<\/p>\n A smart kitchen adds value to a home. A fresh bench top or new cabinetry can modernise a kitchen and make all the difference to potential renters. In fact, many people will overlook other flaws if the property has a modern, well-appointed kitchen so it\u2019s worth the effort. Remember, a lot of people spend more time in the kitchen than any other room of the house, so it\u2019s understandably important to them that this is a comfortable, modern space.<\/span><\/span><\/p>\n This has a huge impact on the look and feel of a house. Consider a different colour other than white to add personality and warmth. A new paint job can make the house feel new again and will also cover up any trace of past tenants. \u00a0<\/span><\/span><\/p>\n Faded, stained and worn carpet will be noticed and could put off potential tenants. Putting in new carpet can make all the difference. Look for a carpet that is durable, covers stains, is easy to clean and in a practical colour as it is likely to be there for several years. If you make smart choices, this change will add significant value to your property.<\/span><\/span><\/p>\n These are increasingly popular with landlords and with good reason due to the safe, efficient heating they provide. Tenants value having control over their indoor environment. As well as keeping the house warm, heat pumps also keep the air dry, reducing potential moisture damage to the property over time.<\/span><\/span><\/p>\n It\u2019s important the bathroom feels clean and fresh. Like the kitchen, the bathroom is a room potential tenants will pay close attention to and value highly. While an old bathroom may be clean, they often don\u2019t look this way due to stains, flaking paint and tired fixtures. If your bathroom looks like this, consider a makeover to make it feel modern and new again.<\/span><\/span><\/p>\n Spending money in the right places will help you get more for your rental property and increase its value long-term return. Start by taking care of the basics and then you can focus on other cosmetic changes later on. You\u2019ll avoid costly repair bills, attract top tenants, and get the financial benefits of your hard work.<\/span><\/span><\/p>\n Get the right return on your rental property. Request a free rent appraisal now.<\/span><\/span><\/p>"},[{"Icon":"none","Content":"Free Rental Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"Customer Reviews","Link":"https:\/\/nz.trustpilot.com\/review\/oxygen.co.nz"}]],"PageType":"NewsArticlePage","Sort":"27","Created":"2018-07-19 12:30:11","Blurb":" As an investor, you want to get the most out of your property. A rental is a significant\u00a0investment, but done right it can yield huge financial rewards now, and for years to come.<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Add-Value.jpg"},{"URLSegment":"rental-market-statistics-june-report","Title":"Rental Market Statistics: June Report","SEOTitle":"Rental Market Statistics: June Report","Heading":"Rental Market Statistics: June Report","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Stats-Header-June-2018-Red.jpg"},[{"Icon":"none","Content":"Download the rental statistics report for June","Link":"http:\/\/52.62.80.90\/assets\/June-Statistics.pdf "}],{"Style":null,"Content":" Median Rent Increases\u00a0<\/strong><\/p>\n - Two bedroom properties in Napier Central have posted a 12% increase compared to June last year. - Three bedroom properties in Taradale have posted a 12% increase compared to June last year. - Two bedroom properties in Upper Hutt have posted a 17% increase compared to June last year. - Two bedroom properties in Northern Lower Hutt have posted an 18% increase compared to June last year. - Four bedroom properties in Porirua have posted a 22% increase compared to June last year. - Four bedroom properties in Hataitai \/ Brooklyn have posted a 23% increase compared to June last year. - New Zealand totals are incrementally up with 1\u20134 bedroom properties between 5% to 7% compared to\u00a0June last year.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/strong><\/p>\n - One bedroom properties in Napier Central have decreased by 21% compared to\u00a0June last year. - Two bedroom properties in Southern Lower Hutt have decreased by 5% compared to June last year. - Two bedroom properties in Porirua have decreased by 10% compared to June last year. - Three bedroom properties in Khandallah and Ngaio have decreased by 3% compared to June last year. - Two bedroom properties in Hataitai and Brooklyn have decreased by 2% compared to June last year. \u00a0<\/p>\n Bonds Lodged<\/strong><\/p>\n Activity is noticeably high in Hastings (101), Johnsonville and Tawa (92), Hataitai and Brooklyn (127), Lower Hutt (133), and Wellington Central (244).<\/p>\n Overall there were 8149 bonds lodged across New Zealand in June.<\/p>\n \u00a0<\/p>"},{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-June-Snapshot.jpg"},[{"Icon":"none","Content":"Download the rental statistics report for June","Link":"http:\/\/52.62.80.90\/assets\/June-Statistics.pdf "}]],"PageType":"NewsArticlePage","Sort":"28","Created":"2018-07-10 15:47:10","Blurb":" Two bedroom properties in Napier Central have posted a 12% increase compared to June last year. The median rent is now $370 per week.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Stats-Header-June-2018-Red.jpg"},{"URLSegment":"top-tips-for-finding-a-good-investment-property","Title":"Top Tips for Finding a Good Investment Property","SEOTitle":"Top Tips for Finding a Good Investment Property","Heading":"Top Tips for Finding a Good Investment Property","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Finding-a-good-investment-property.jpg"},{"Style":null,"Content":" Buying an investment property is about getting maximum return, so the numbers need to add up to ensure the property you buy will steadily and reliably produce income and capital growth.<\/p>\n Is there an opportunity to add value through a renovation? Is the property in a high-value area? Doing your research so you know what kind of property is in demand, or going to be in demand is crucial.<\/p>\n It\u2019s important you know of any significant work or repairs that need urgent attention and factor this into your costs. For example, if you need to replace the roof or hot water cylinder in the first few months of ownership, this could make a big difference to your profits and damage your cash flow.<\/p>\n What sort of properties are most attractive to tenants? Empathise with your potential tenants, and consider whether it\u2019s somewhere you would want to live.<\/p>\n Considering your location will help you identify who you\u2019ll be attracting, and how to best appeal to them. Who are your likely sources of tenants in the area \u2014 families looking for good school zones? Retirees, who want walking distance to shops and public transport? Professional couples who want to be close to the CBD?<\/p>\n Make sure you understand the current tenancy laws and health and safety regulations relating to rental properties. It\u2019s vital to understand what your responsibilities will be under the Residential Tenancies Act 1986 before you head down the road of property management.<\/p>\n Thinking about getting into the investment property game? If becoming a landlord is on your radar, then give us a call to talk about our management services.<\/p>"}],"PageType":"NewsArticlePage","Sort":"29","Created":"2018-07-10 08:24:22","Blurb":" Do your numbers and don\u2019t get emotionally attached. Buying an investment property is about getting maximum return, so the numbers need to add up to ensure the property you buy will steadily and reliably produce income and capital growth.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Finding-a-good-investment-property.jpg"},{"URLSegment":"cost-effective-ways-to-increase-rent","Title":"Cost-Effective Ways to Increase Rent","SEOTitle":"Cost-Effective Ways to Increase Rent","Heading":"Cost-Effective Ways to Increase Rent","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Coin-money-and-house-model-on-wooden-background.jpg"},{"Style":null,"Content":" If you\u2019re a private investor, it is possible you don\u2019t keep up with the rental market and don\u2019t always increase the rent when you should. Recently rent has been increasing due to a lot of new regulations bring being introduced, therefore increasing the costs to landlords. This is something you don\u2019t have any control over, but there are many others that you do.<\/p>\n For example, you could do a full renovation and update the value of your rental property. There are many other options too but not everyone has the funds to make big changes to their investment property in order to increase the yield. \u00a0So, how can you increase rent without spending a lot of money on your investment property? Here are a few simple tips that may cost you a little or nothing at all:<\/p>\n This is a great opportunity to raise the rent, especially if you don\u2019t do it as often as you should. After a tenancy has ended, and before you advertise, make the place look tidy and smell clean. It is also the best time to make sure everything is working as it should. If a potential tenant is viewing your property and something doesn\u2019t work or is broken, they won\u2019t be very impressed.<\/p>\n A fresh coat of paint is inexpensive and will further enhance your property. Make sure the lawns are done, and the hedges and gardens are trimmed and looking tidy.<\/p>\n This can depend on the location of your investment property. February is generally considered the most popular time of the year in terms of the number of people viewing rentals, so we recommend any fixed-term tenancies to finish around this time. Creating a \u2018bidding war\u2019 between prospective tenants can sometimes create a higher rent price.<\/p>\n A lot of investors don\u2019t allow pets in their home, but by restricting your listing with this condition, you can actually miss out on a great tenant. It\u2019s important not to dismiss a possible perfect tenant. You will still get a chance to vet them, and potentially increase the rent because of it.<\/p>\n Treating your portfolio as your business is a great start. Investors who don\u2019t currently use a property manager often don\u2019t keep up with the rental market and don\u2019t increase the rent as often as they should. Deciding to own and maintain a property is a big decision and there are many factors to take into consideration, for example knowing the ins and outs of the tenancy laws, when to spend money on maintenance and where to spend it to maintain the value of your property.\u00a0But, more than anything, it's knowing the amount of time that's involved and knowing the value of your time.\u00a0<\/p>\n Our personalised management services allow Oxygen to do all the work and ensure that you are taken care of every step of the way. We can find the ideal tenant for your investment property and maximise your return on investment. We offer free rental appraisals\u00a0and have an outstanding team of experienced property managers ready to help.<\/p>"},[{"Icon":"none","Content":"Free Rental Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"Customer Reviews","Link":"https:\/\/nz.trustpilot.com\/review\/oxygen.co.nz"}]],"PageType":"NewsArticlePage","Sort":"30","Created":"2018-07-04 16:49:27","Blurb":" If you\u2019re a private investor, it is possible you don\u2019t keep up with the rental market and don\u2019t always increase the rent when you should. Recently rent has been increasing due to a lot of new regulations bring being introduced, therefore increasing the costs to landlords. This is something you don\u2019t have any control over, but there are many others that you do.<\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Coin-money-and-house-model-on-wooden-background.jpg"},{"URLSegment":"asbestos-and-your-rental-property","Title":"Asbestos and Your Rental Property","SEOTitle":"Asbestos and Your Rental Property","Heading":"Asbestos and Your Rental Property","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Asbestos.jpg"},{"Style":null,"Content":" The Health and Safety (Asbestos) Regulations 2016 are now in force. Although the regulations were mainly aimed at the asbestos removal industry and commercial landlords; they also apply to you, the residential landlord.<\/p>\n As a residential landlord, you are the person conducting a business or undertaking (PCBU) for your rental property. If you are having any work done on your rental property then it simply becomes a workplace, and you must ensure that all work carried out at the property is done so safely and without endangering workers or others, including tenants.<\/p>\n You have a duty to identify any asbestos and prepare an asbestos management plan for any work involving a risk of exposure to respirable asbestos fibres. Exposure is likely to occur from dust created when drilling or cutting into asbestos-containing materials. The risk of exposure depends on the work you are planning to undertake, whether it is maintenance, renovations, refurbishments or any demolition work.<\/p>\n If your rental property is managed by Oxygen, and our team are arranging any maintenance or upgrade work on your behalf, we will be able to help you with your asbestos management plan and put steps in place to protect your tenants and any contractors.\u00a0<\/p>\n If you choose to complete any work yourself and decide to employ your own contractors, you must write your own asbestos management plan and follow Worksafe\u2019s guidance set out in the Approved Code of Practice, which can be found here<\/a>. We recommend you read the policy clarification document here<\/a>, and Asbestos Aware<\/a> is a great resource that will help you identify what asbestos could look like, where it could be found and how it should be dealt with.<\/p>\n Remember, an asbestos management plan only applies when you are planning on carrying out the work, and only to the area relevant to the work creating a risk of exposure to respirable asbestos fibres.<\/p>\n Houses constructed or renovated between 1950 and 2000 are quite likely to contain some asbestos. The diagram below shows areas where materials containing asbestos were commonly used during construction and renovation. These materials are not dangerous if they are in a good condition and remain undisturbed.<\/p>"},{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Asbestos-house.jpg"},{"Style":null,"Content":" Source: Worksafe New Zealand<\/em><\/p>"},[{"Icon":"record-or-document","Content":"Where asbestos might be found in a New Zealand house","Link":"http:\/\/52.62.80.90\/assets\/Where-asbestos-might-be-found-in-a-New-Zealand-house.pdf"}]],"PageType":"NewsArticlePage","Sort":"31","Created":"2018-06-12 16:56:19","Blurb":" The Health and Safety (Asbestos) Regulations 2016 are now in force. Although the regulations were mainly aimed at the asbestos removal industry and commercial landlords; they also apply to you, the residential landlord.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Asbestos.jpg"},{"URLSegment":"new-report-on-meth-in-rental-properties","Title":"New Report on Meth in Rental Properties","SEOTitle":"New Report on Meth in Rental Properties","Heading":"New Report on Meth in Rental Properties","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Meth.jpg"},{"Style":null,"Content":" Professor Sir Peter Gluckman\u2019s meth contamination report was released in May advising that there is no evidence that third-hand meth contamination causes any harm to health and that meth levels of up to 15mcg\/100cm2 may be considered safe.<\/p>\n The Ministry of Business, Innovation, and Employment (MBIE) have advised that regulations regarding meth levels, testing and decontamination processes will be made later this year. Until the regulations are in force, it is recommended that Oxygen adopts a cautious approach and continue to use the NZ Standard level of 1.5mcg\/100cm2 as the benchmark.<\/p>\n Oxygen has been and will continue, \u00a0to hold off on our mandatory opt in\/opt out meth testing policy as our view has been that what has now transpired was likely to occur. Until the situation is clarified we must still err on the side of caution with respect to mitigating risk associated with meth contamination. Our Business Development Managers will be advising and recording discussions on risks and leaving to the owner's discretion likewise our Property Managers will discuss and record the same when re-tenanting.<\/p>\n Our team will continue to keep you informed as and when new information comes to hand.<\/p>"}],"PageType":"NewsArticlePage","Sort":"32","Created":"2018-06-18 14:43:16","Blurb":" Professor Sir Peter Gluckman\u2019s meth contamination report was released in May advising that there is no evidence that third-hand meth contamination causes any harm to health and that meth levels of up to 15mcg\/100cm2 may be considered safe.<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Meth.jpg"},{"URLSegment":"may-rental-market-statistics-2","Title":"May Rental Market Statistics","SEOTitle":"May Rental Market Statistics","Heading":"May Rental Market Statistics","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Stats-Header-May-2018.jpg"},[{"Icon":"none","Content":"Download the rental statistics report for May","Link":"http:\/\/52.62.80.90\/assets\/May-Statistics.pdf "}],{"Style":null,"Content":" Median Rent Increases\u00a0<\/strong><\/p>\n - One bedroom properties in Napier Central have posted a 37% increase compared to May last year. - Three bedroom properties in Napier have posted a 20% increase compared to May last year. - Two bedroom properties in Taradale have posted a 13% increase compared to May last year. - Four bedroom properties in Upper Hutt have posted a 15% increase compared to\u00a0May last year. - One bedroom properties in Wellington Central have posted a 14% increase compared to May last year. - Three bedroom properties in Miramar have posted a 17% increase compared to May last year. - New Zealand totals are incrementally up with 1\u20134 bedroom properties between 4% to 7% compared to\u00a0May last year.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/strong><\/p>\n - One bedroom properties in Hastings have decreased by 15% compared to\u00a0May last year. - Three bedroom properties in Porirua have decreased by 6% compared to May last year. - Four bedroom properties in Khandallah\/Ngaio have decreased by 4% compared to\u00a0May last year. - Two bedroom properties in Karori\/Kelburn have decreased by 6% compared to\u00a0May last year. \u00a0<\/p>\n Bonds Lodged<\/strong><\/p>\n Activity is noticeably high in Hastings (63), Johnsonville\/Tawa (70), Upper Hutt (85), Hataitai\/Brooklyn (87), Kilbirnie\/Island Bay (90), Lower Hutt (132), and Wellington Central (225).<\/p>\n Overall there were 7714 bonds lodged across New Zealand in May.<\/p>"},{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-May-Snapshot.jpg"},[{"Icon":"none","Content":"Download the rental statistics report for May","Link":"http:\/\/52.62.80.90\/assets\/May-Statistics.pdf "}]],"PageType":"NewsArticlePage","Sort":"33","Created":"2018-06-13 10:56:34","Blurb":" One bedroom properties in Napier Central have posted a 37% increase compared to May last year.\u00a0<\/span>The median rent is now $357 per week.<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Stats-Header-May-2018.jpg"},{"URLSegment":"heading-overseas-this-year","Title":"Are You Heading Overseas This Year?","SEOTitle":"Are You Heading Overseas This Year?","Heading":"Are You Heading Overseas This Year?","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Work-on-holiday.jpg"},{"Style":null,"Content":" Did you know that if you own a rental property in New Zealand and will be out of the country for more than 21 consecutive days then by law, you must appoint a New Zealand property agent who can act on your behalf?<\/p>\n The landlord must let the tenants and Tenancy Services (if a bond has been lodged) know the contract details of their agent. Landlords failing to comply will be in breach of the Residential Tenancies Act 1986 and considered to be committing an unlawful act resulting in a $1000 fine.<\/p>\n So, if you are thinking about travelling overseas for longer than 21 days and need an agent, we are more than happy to assist.<\/p>\n Our friendly team at Oxygen specialise in:<\/p>\n Let one of our dedicated property managers take care of your property so you can get on with enjoying life and relax knowing that you\u2019ve got a whole team of professionals behind you.<\/p>\n Contact our team today for more information and\/or to find out how much your rental property is worth in today\u2019s market.<\/p>"},[{"Icon":"none","Content":"Property Management","Link":"http:\/\/www.oxygen.co.nz\/landlords"},{"Icon":"none","Content":"Request a Rent Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"}]],"PageType":"NewsArticlePage","Sort":"34","Created":"2018-06-05 11:46:19","Blurb":" Did you know that if you own a rental property in New Zealand and will be out of the country for more than 21 consecutive days then by law, you must appoint a New Zealand property agent who can act on your behalf?<\/span><\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Work-on-holiday.jpg"},{"URLSegment":"are-you-a-landlord-get-rta-ready","Title":"Are You a Landlord? Get RTA Ready!","SEOTitle":"Are You a Landlord? Get RTA Ready!","Heading":"Are You a Landlord? Get RTA Ready!","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-House-and-scarf.jpg"},{"Style":null,"Content":" We all know there is a huge shortage of housing in New Zealand, with a shortfall of around 70,000 houses across the country. Houses are now more expensive than ever, rentals are of poorer quality, and homelessness is on the rise. With further changes to the rental market around the corner, 2018 is set to become one of the most significant years of change.\u00a0<\/p>\n Fortunately, these changes will improve the rental market for everyone while also solving underlying issues such as affordability. We believe all tenants have the right to a happy, healthy home.<\/p>\n As a landlord, it is important to be aware of upcoming changes and how they might affect you and your rental property. With winter almost upon us, now is the time to ask yourself, \u2018how will my rental property perform in the colder months?\u2019 We all know rental properties have a better chance of finding tenants quickly, keeping them for longer, and avoiding high turnover if they are well-insulated, well-ventilated and inexpensive to heat. It\u2019s also likely that tenants will suffer fewer health problems caused by the cold temperatures and damp conditions, which can result in unplanned bills and time off work. Financial costs like this may increase the risk of missed rent payments.<\/p>\n Here are some things you need to know to help you prepare for upcoming changes in the Residential Tenancies Act (RTA).<\/p>\n Good insulation keeps the home warm in winter and cool in summer. It reduces dampness and can also help reduce power bills and offer your tenants a healthier and more comfortable home. New RTA regulations require landlords to retrofit ceiling and underfloor insulation in their rental homes before 1 July 2019. You will need to ensure that your insulation meets the RTA\u2019s standards by this time.<\/p>\n There is a particularly slow uptake in the market with only 7000 rentals having had insulation completed in the Wellington region. You may be eligible for a subsidy if your property was built before the year 2000, or if one of your current tenants holds a Community Services Card. Subsidies are only available until the end of June 2018 so we encourage you to get it done as soon as possible. Rental properties that are well insulated are easier to market and can attract a higher rent.\u00a0<\/p>\n You should ensure your property is well heated and well ventilated. Landlords don\u2019t have to provide heating in every room, but they do have to provide a form of heating in any living area. Providing an effective, affordable heating method, like a heat pump, flued gas heater, or wood or wood pellet burner will enable your tenants to heat the living area effectively.<\/p>\n Good ventilation is also important for maintaining healthy indoor air, and reducing the amount of moisture in the property will make it easier to heat. Landlords should encourage tenants to ventilate the home by opening doors and windows regularly to allow fresh air in.<\/p>\n Mechanical ventilation systems that source air from the outside may be a good option especially if the tenants are out all day, or if the property is near a source of noise such as a busy road or airport. Some systems come with heat exchange units, which transfer the bulk of the heat from the outgoing air into the fresh air coming from the outside.<\/p>\n Clothes dryers vented to the outside reduce the amount of moisture released inside the house. Extractor fans that vent to the outside are good in wet areas such as the bathroom and kitchen to help remove damp air. Bathroom extractor fans that are connected to the light switch so that they come on automatically and go off 10 minutes after the light is turned off are recommended.<\/p>\n Working smoke alarms are compulsory in all rental properties. All new smoke alarms installed must be photoelectric, and have a long battery life, or be hard-wired. Existing smoke alarms do not need to be replaced if they are working, and have not passed the manufacturer\u2019s expiry date.<\/p>\n It is the landlord\u2019s responsibility to ensure smoke alarms are working at the start of each new tenancy; however, tenants are responsible for replacing dead batteries during the tenancy and letting the landlord know if there are any problems with the smoke alarms as soon as possible. Both parties can be fined up to $4,000 for not meeting their obligations.<\/p>\n Warm and healthy homes are good for tenants and landlords alike.<\/p>\n Most New Zealand landlords run reputable businesses and act responsibly. They already provide homes for their tenants that are safe to live in. However, there are some landlords that don\u2019t. The experience of tenants in today\u2019s rental market can vary hugely. Some tenants are forced to live in properties that are cold, damp, and draughty. This leads to sickness, particularly respiratory illnesses in children and the elderly. When a home is warm and healthy, it\u2019s less likely that tenants will suffer health problems.<\/p>\n The goal of the Healthy Homes Guarantee Act is to stop these terrible rental situations from happening by setting minimum standards that all landlords must adhere to. The proposed standards will cover requirements for insulation, heating, ventilation, drainage, moisture, and draught stopping. The Act will come into force on 1 July 2019, and must be in place by 1 July 2024 - all rental properties must adhere to the new minimum standards by this date.<\/p>\n Property management companies have proliferated in recent years and reports suggest between 50% of New Zealand rental properties are currently managed by these companies. With the ever-increasing complexity of the legislative and regulatory environment, there is a strong argument for using a professional property management company. At Oxygen, we invest heavily in systems, staff training and compliance not to mention reputation. If you're a property owner or investor looking for an experienced and knowledgeable property manager, Oxygen are the experts. We offer a professional and friendly service. We can find the ideal tenant\/s for your property and maximise your return on investment, as well as providing you with information about the latest legislation changes and how they could affect you and your rental property. Visit our website or give us a call to talk about our management services.<\/p>"}],"PageType":"NewsArticlePage","Sort":"35","Created":"2018-05-31 10:03:50","Blurb":" We all know there is a huge shortage of housing in New Zealand, with a shortfall of around 70,000 houses across the country. Houses are now more expensive than ever, rentals are of poorer quality, and homelessness is on the rise. With further changes to the rental market around the corner, 2018 is set to become one of the most significant years of change.\u00a0<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/House-and-scarf.jpg"},{"URLSegment":"five-tips-for-first-time-property-investors","Title":"Five Tips for First Time Property Investors","SEOTitle":"Five Tips for First Time Property Investors","Heading":"Five Tips for First Time Property Investors","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-First-Time-Property-Investors.jpg"},{"Style":null,"Content":" Investing in real estate is all about capital growth.\u00a0 Over time you want to ensure the value of your investment increases so that if the day ever comes to selling, you will have made a pleasant profit.<\/span><\/p>\n Having the rent cover the costs of maintaining your rental property is ideal and buying the right property, in the right location, for the right price is critical to the success of your investment.<\/span><\/p>\n Once you have decided the area you want to purchase in, look at recent sales statistics, and talk to local agents so that when a suitable rental property comes past at the right price, you will be ready to snap it up.<\/span><\/p>\n Consider the area and the kinds of tenants it will attract.\u00a0 For example, if it is close to a University, chances are you will have lots of enquiries from students, so the number of bedrooms is likely to be important. If it is close to a primary school, you will want to ensure it has a garden and a fenced section to accommodate families with young, school-aged children.<\/span><\/p>\n Getting the property selection right, in the right location is important for long-term investment success, cash-flow is key \u2013 do the sums<\/span><\/p>\n \u00a0<\/span><\/p>\n Before committing to the purchase of an investment property, it\u2019s important to ensure that you\u2019ll be able to continue to afford it, including mortgage repayments, without having to rely on the rent the property might gather. It\u2019s possible that there could be periods of time where the property sits empty in between tenancies, so knowing that you can afford to keep the property going will save you stress in the long run.<\/span><\/p>\n One of the worst-case scenarios is suddenly being forced to sell your property because you can no longer afford to hold on to it. If forced to sell, you could end up selling it at a time when the market isn\u2019t at its best, meaning you could miss out on significant profit \u2013 and possibly end up with even greater debt.<\/span><\/p>\n \u00a0<\/span><\/p>\n A property manager\u2019s job is to make your job, as a Landlord, a whole lot easier. All the complicated and daunting aspects of owning an investment property are taken care of \u2013 all you need to do is choose the right Property Manager.<\/span><\/p>\n Good property managers have a wealth of experience in managing investment properties \u2013 so they\u2019ll be able to help you get the best out of your investment. They can do everything from carefully choosing the right tenants, with thorough screening and reference checking, to liaising with the tenant and yourself for all enquiries, questions and maintenance requests.<\/span><\/p>\n Having a property manager is also good for your tenants. A tenant is likely to take greater responsibility for your property if there\u2019s a dedicated property manager on board \u2013 this means rent arrears are much less likely, and you know your property will be looked after well by whichever Tenants the property managers select.<\/span><\/p>\n \u00a0<\/span><\/p>\n To yield high rent your investment property needs to be inviting. \u00a0By presenting a property that is well cared for, your calibre of tenants will be of much higher quality: a well-presented home attracts good tenants.<\/span><\/p>\n Neutral colours throughout the house and a clean and tidy section are important. Ensure there are no leaking taps, squeaky doors or ripped carpet. This doesn\u2019t mean you need to buy the highest quality goods for the property, but ensure it is presented well and is at a standard you would be happy living with yourself.<\/span><\/p>\n You should also consider the resale value; a well-presented home will eventually sell for more when it is placed on the market. Keeping your investment maintained is the key to its success in the long run.<\/span><\/p>\n \u00a0<\/span><\/p>\n Remember that property is a long-term investment, and you are unlikely to make good money from it quickly.\u00a0 The longer you own the property and the more you do it to increase its value, the better your investment will do in terms of success.<\/span><\/p>\n Unlike other material possessions, you can\u2019t quickly just sell your property if money gets tight. It can be a lengthy process, so take your time to choose the right property and be realistic with your expectations \u2013 you will not yield a high paying investment in the short-term future.<\/span><\/p>\n Keep your expectations realistic and make sure that your own finances can manage. This will mean you can wait for the property to start producing cash flow, rather than needing it desperately in order to finance the mortgage.\u00a0<\/span><\/p>"},[{"Icon":"none","Content":"Property Management Service","Link":"http:\/\/www.oxygen.co.nz\/landlords"},{"Icon":"none","Content":" Free Rental Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"}]],"PageType":"NewsArticlePage","Sort":"36","Created":"2018-05-24 10:05:19","Blurb":" Investing in real estate is all about capital growth.\u00a0 Over time you want to ensure the value of your investment increases, so that if the day ever comes to selling, you will have made a pleasant profit.<\/span><\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/First-Time-Property-Investors.jpg"},{"URLSegment":"what-not-to-do-when-investing-in-property","Title":"What Not to Do When Investing in Property","SEOTitle":"What Not to Do When Investing in Property","Heading":"What Not to Do When Investing in Property","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Investing.jpg"},{"Style":null,"Content":" Perhaps you\u2019re saving for your retirement and wondering how to do this while still covering two mortgages or you\u2019ve always been interested in property investment but don\u2019t know where to start. Maybe you\u2019re already a landlord and want to expand your portfolio. Whatever your motivation, putting your money into property can be a great decision.<\/p>\n However, success isn\u2019t easy - if it was, everyone would be doing it. There are several ways investors can get it wrong, resulting in significant and costly mistakes. Whether you\u2019re a first-time investor or already a landlord, avoiding common pitfalls will help you achieve your goals.<\/p>\n In this blog, we look at five mistakes Kiwis typically make when investing in property and how to avoid them.<\/p>\n Not being informed about the location of a property and how this impacts its value is a common mistake. While it might be cheap to buy, this isn\u2019t enough. Investors often buy in the areas they know or close to where they live. This isn\u2019t necessarily a mistake but it\u2019s not the best approach.<\/p>\n Locations need to be chosen strategically and this means doing your research.\u00a0\u00a0Find out what sort of properties are in demand and look for areas that have population growth, infrastructure and employment.<\/p>\n Don\u2019t only look to invest in property when house prices are increasing. While it may be tempting to jump in when the market is hot, this could mean you end up paying top dollar.<\/p>\n Instead, the best time to buy is well before a housing boom when you can buy at a low price and then watch the value of your investment steadily increase. Track the housing cycle and speak to experts to find out what the market is doing.<\/p>\n Having your finances in check is crucial to investing well. Getting a loan approved to buy an investment property is part of this but not the only consideration. Speak to a mortgage broker experienced in investment property who can provide advice. They\u2019ll look at your financial position, discuss different loan options and help you decide how to best structure your mortgages.<\/p>\n Understanding the difference between buying a home and an investment property is essential. While buying your own home is an emotional decision, an investment property is all about the numbers - such as price, rental returns and maintenance. Remember, this is a business and should be treated as such.<\/p>\n Failing to get professional advice before investing is a big mistake. Learn from those who are experts in their fields and can guide you through the process so you don\u2019t make the same mistakes others have. All investors should have a trusted accountant, financial advisor, mortgage broker, and a property manager on their team.<\/p>\n To ensure your dreams go to plan, you need to have all the information you need to avoid common mistakes. Getting the right location, timing, financial checks, approach and professional advice are all important. Whether you\u2019re a first or third-time investor, these are key considerations to keep in mind.<\/p>"},[{"Icon":"none","Content":"Request a Rent Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"},{"Icon":"none","Content":"What Do Our Landlords Have to Say?","Link":"https:\/\/nz.trustpilot.com\/review\/oxygen.co.nz"}]],"PageType":"NewsArticlePage","Sort":"37","Created":"2018-05-14 16:18:40","Blurb":" Perhaps you\u2019re saving for your retirement and wondering how to do this while still covering two mortgages or you\u2019ve always been interested in property investment but don\u2019t know where to start.\u00a0<\/span><\/p>","Category":"Oxygen Tips to Landlords","Image":"\/assets\/Uploads\/Investing.jpg"},{"URLSegment":"april-rental-market-statistics-2","Title":"April Rental Market Statistics","SEOTitle":"April Rental Market Statistics","Heading":"April Rental Market Statistics","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Stats-Header-April-2018.jpg"},[{"Icon":"none","Content":"Download the rental statistics report for April","Link":"http:\/\/52.62.80.90\/assets\/April-Statistics.pdf"}],{"Style":null,"Content":" Median Rent Increases\u00a0<\/strong><\/p>\n - Three bedroom properties in Napier Central have posted an 18% increase compared to April last year. - One bedroom properties in Hastings have posted a 14% increase compared to April last year. - Two bedroom properties in Miramar have posted a 46% increase compared to April last year. - Two bedroom properties in Khandallah and Ngaio have posted a 22% increase compared to April last year. - One bedroom properties in Khandallah and Ngaio have posted a 17% increase compared to April last year. - New Zealand totals are incrementally up with 1\u20134 bedroom properties between 2% to 4% compared to April last year.<\/p>\n \u00a0<\/p>\n Median Rent Decreases<\/strong><\/p>\n - Two bedroom properties in Karori and Kelburn have decreased by 9% compared to April last year. - Four bedroom properties in Miramar have decreased by 10% compared to April last year. \u00a0- Three bedroom properties in Khandallah\/Ngaio have decreased by 5% compared to April last year. \u00a0<\/p>\n Bonds Lodged<\/strong><\/p>\n Activity is noticeably high in Hastings (74), Karori\/Kelburn (76), \u00a0Johnsonville\/Tawa (77), Kilbirnie\/Island Bay (82), Hataitai\/Brooklyn (119), and Wellington Central (296). Overall there were 8465 bonds lodged across New Zealand in April.<\/p>\n \u00a0<\/p>"},[{"Icon":"none","Content":"Download the rental statistics report for April","Link":"http:\/\/52.62.80.90\/assets\/April-Statistics.pdf"}]],"PageType":"NewsArticlePage","Sort":"38","Created":"2018-05-11 12:16:11","Blurb":" Three bedroom properties in Napier Central have posted an 18% increase compared to April last year.\u00a0<\/span>The median rent is now $425 per week.<\/span><\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Stats-Header-April-2018.jpg"},{"URLSegment":"life-of-a-property-manager","Title":"A Day In The Life Of A Property Manager","SEOTitle":"A Day In The Life Of A Property Manager","Heading":"A Day In The Life Of A Property Manager","Sections":[{"Style":null,"Content":null},{"Style":null,"Content":" Wondering what your property manager does all day, or if having a property manager employed is really necessary at all? We\u00a0buddied up with one of our property managers to see what she gets up to during the day. Read on for some real-life insight into a day in the life of an Oxygen property manager.<\/strong><\/p>\n It's not all grotty, rat-infested flats and unpaid rent as portrayed by \u2018Renters\u2019 on TV, but there are some very real aspects of the job that are required to be dealt with thoughtfully and carefully. This job is not just about managing a property; it's about connecting people and building relationships based on trust while resolving problems.<\/p>\n Wondering what your property manager does all day, or if having a property manager employed is really necessary at all? We<\/span>\u00a0buddied up with one of our property managers to see what she gets up to during the day. Read on for some real-life insight into a day in the life of an Oxygen property manager.<\/p>","Category":"Oxygen Market News & Statistics"},{"URLSegment":"insulation-standards","Title":"Insulation Standards","SEOTitle":"Does Your Rental Home Meet the Insulation Standards?","Heading":"Does Your Rental Home Meet the Insulation Standards?","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Insulation-Standards.jpg"},{"Style":null,"Content":" Ceiling and underfloor insulation must be installed in all rental properties by July 2019. It may feel like there is plenty of time, but it\u2019s important to start\u00a0assessing your rentals insulation requirements now so you know what work needs to be done.<\/p>\n A landlord who fails to comply with the regulations is committing an unlawful act and may be liable for a penalty of up to $4000.<\/p>\n The Insulation Association of New Zealand<\/a> is a\u00a0good place to start as well as checking the Energy Efficiency Conservation Authority (EECA)<\/a> website\u00a0which has a handy tool to help you locate an installer in your region. You could also try searching online to find insulation providers in your area. EECA recommend you source at least three quotes before making a decision to ensure you are getting the best price.<\/p>\n The average cost of paying a professional installer to put in both ceiling and floor insulation is approximately $3,400 excluding GST for a 96mBrief Overview:<\/h3>\n
What does this mean?<\/span><\/h3>\n
Brief Overview:<\/h3>\n
Consultation - Healthy Homes Standards<\/h3>\n
Consultation - Reform of the Residential Tenancies Act 1986<\/h3>\n
Brief Overview:<\/h3>\n
- The median rent is now $322 per week.<\/p>\n
- The median rent is now $480 per week.<\/p>\n
- The median rent is now $630 per week.<\/p>\n
- The median rent is now $340 per week.<\/p>\n
- The median rent is now $380 per week.<\/p>\n
- The median rent is now $455 per week.<\/p>\n
- The median rent is now $382 per week.<\/p>\n
- The median rent is now $457 per week.<\/p>\n
- The median rent is now $230 per week.<\/p>\n
- The median rent is now $500 per week.<\/p>\n
The median rent is now $322 per week. Two bedroom properties in Hataitai and Brooklyn have increased by 17% compared to August last year. The median rent is now $480 per week.<\/p>","Category":"Oxygen Market News & Statistics","Image":"\/assets\/Uploads\/Stats-Header-August-2018.jpg"},{"URLSegment":"heating-standards","Title":"New Heating Standards for Rentals Are Coming","SEOTitle":"New Heating Standards for Rentals Are Coming","Heading":"New Heating Standards for Rentals Are Coming","Sections":[{"Style":false,"Image":"\/assets\/Uploads\/_resampled\/SetWidth1200-Heating.jpg"},{"Style":null,"Content":"How to calculate rental yield<\/h3>\n
Gross rental yield<\/h4>\n
Net rental yield<\/h4>\n
Residential Investment Property Rental Yield Indicator<\/h3>\n
What type of smoke alarms are required in rentals?<\/strong><\/h3>\n
Who is responsible for keeping them running?<\/h3>\n
Where to install smoke alarms<\/h3>\n
Brief Overview:<\/h3>\n
- The median rent is now $740 per week.<\/p>\n
- The median rent is now $400 per week.<\/p>\n
- The median rent is now $250 per week.<\/p>\n
- The median rent is now $570 per week.<\/p>\n
- The median rent is now $467 per week.<\/p>\n
- The median rent is now $400 per week.<\/p>\n
- The median rent is now $620 per week.<\/p>\n
- The median rent is now $625 per week.<\/p>\n
- The median rent is now $462 per week.<\/p>\n1. Tally It All Up<\/h3>\n
2. Pre-Approved and Ready to Make Your Investment Move<\/h3>\n
3. Goals<\/h3>\n
4. Start Budgeting<\/h3>\n
5. The Plan
<\/span><\/h3>\n5. Staying in the Know<\/h3>\n
1. Light and bright<\/h3>\n
2. Warm and cosy<\/h3>\n
3. Sparkling clean<\/h3>\n
4. Get meticulous with mould<\/h3>\n
5. Well maintained, well received<\/h3>\n
6. Reasonable rent<\/h3>\n
7. Fenced is best<\/h3>\n
8. Parking always a plus<\/h3>\n
Residential Tenancies Amendment Bills (No. 2)<\/h3>\n
Residential Tenancies (Prohibiting Letting Fees) Amendment Bill<\/h3>\n
1. Update the Kitchen<\/span><\/strong><\/h3>\n
2. A Fresh Paint Job<\/span><\/strong><\/h3>\n
3. New Carpet<\/span><\/strong><\/h3>\n
4. Add a Heat Pump<\/span><\/strong><\/h3>\n
5. Improve the Bathroom<\/span><\/strong><\/h3>\n
Brief Overview:<\/h3>\n
- The median rent is now $370 per week.<\/p>\n
- The median rent is now $435 per week.<\/p>\n
- The median rent is now $350 per week.<\/p>\n
- The median rent is now $400 per week.<\/p>\n
- The median rent is now $650 per week.<\/p>\n
- The median rent is now $800 per week.<\/p>\n
- The median rent is now $300 per week.<\/p>\n
- The median rent is now $400 per week.<\/p>\n
- The median rent is now $306 per week.<\/p>\n
- The median rent is now $560 per week.<\/p>\n
- The median rent is now $450 per week.<\/p>\nTip #1 - Do your numbers and don\u2019t get emotionally attached\u00a0<\/h3>\n
Tip #2 - Evaluate the property\u2019s potential\u00a0<\/h3>\n
Tip #3 - Check the age and condition of the property<\/h3>\n
Tip #4 - Understand what tenants want<\/h3>\n
Tip #5 - Location, location, location<\/h3>\n
Tip #6 - Keep up-to-date with regulations<\/h3>\n
Make sure your property is clean<\/h3>\n
Rent your property at the right time<\/h3>\n
Allow pets in your home<\/h3>\n
Put your rent up regularly<\/h3>\n
How can you identify asbestos?<\/h3>\n
Brief Overview:<\/h3>\n
- The median rent is now $357 per week.<\/p>\n
- The median rent is now $465 per week.<\/p>\n
- The median rent is now $340 per week.<\/p>\n
- The median rent is now $530 per week.<\/p>\n
- The median rent is now $408 per week.<\/p>\n
- The median rent is now $690 per week.<\/p>\n
- The median rent is now $205 per week.<\/p>\n
- The median rent is now $365 per week.<\/p>\n
- The median rent is now $720 per week.<\/p>\n
- The median rent is now $425 per week.<\/p>\nInsulation<\/h3>\n
Heating and Ventilation<\/h3>\n
Smoke Alarms<\/h3>\n
Conclusion<\/h3>\n
1. Choosing the right property in the right location<\/span><\/strong><\/h3>\n
2. Cash flow is key \u2013 do the sums<\/span><\/strong><\/h3>\n
3. Find a good property manager and let them do their job<\/span><\/strong><\/h3>\n
4. Make the property attractive to tenants<\/span><\/strong><\/h3>\n
5. Keep expectations realistic and look at the long-term view<\/span><\/strong><\/h3>\n
Undervaluing location<\/h3>\n
Getting your timing wrong<\/h3>\n
Missing the big financial picture<\/h3>\n
Not treating it as a business<\/h3>\n
Thinking you can do it all<\/h3>\n
Brief Overview:<\/h3>\n
- The median rent is now $425 per week.<\/p>\n
- The median rent is now $257 per week.<\/p>\n
- The median rent is now $620 per week.<\/p>\n
- The median rent is now $475 per week.<\/p>\n
- The median rent is now $375 per week.<\/p>\n
- The median rent is now $420 per week.<\/p>\n
- The median rent is now $780 per week.<\/p>\n
- The median rent is now $570 per week.<\/p>\n
Wednesday is Susie's primary day for conducting inspections. She told us that she'd be out and about for much of the day and in between inspections she'd plan to answer emails, make phone calls and deal with any urgent maintenance issues. Susie loves the team environment at Oxygen and says that she's fortunate to work with a bunch of awesome people.<\/p>\n
Susie's day kicked off early. She took a phone call at 7.30am from tenants who had just had a pipe burst. Susie explained to them where they would find the toby and how to shut this off. This, of course, meant that her tenants now had no water - not an ideal scenario first thing in the morning! She put in a quick call to a plumber who Susie knows very well and sometimes feels like she talks to on a daily basis!\u00a0He assured her that he would get to the property quickly, find the source of the issue and fix the problem. This plumber is one of Oxygen\u2019s preferred tradesmen and provides our landlords with a specially negotiated rate. She organised to get the key to him and then let the tenant know.<\/p>\n
To get through her day of inspections, Susie needs to be well organised in advance and has all her keys ready and all the relevant information for the properties on her list downloaded onto her iPad. Before leaving the office, she clears her voicemail and scans through her emails. With 5 voicemails received overnight and 20 emails to check, she quickly actions what is urgent and then hits the road.<\/p>\n
On the way to her first inspection, she tells me why she loves the job. For Susie, every day is different and she enjoys the challenge and diversity that the job brings. Susie, like most property managers, loves the flexibility that the job allows. Being able to leave her desk for a short while and get out of the office can be quite invigorating.<\/p>\n
Susie planned her inspections to be all in the same area. On this day she had eight to do. She manages to get to her first inspection by 9.30am and completes all of her inspections by midday. She's captured all the details she needed, and taken new photos all on her iPad. She recorded a detailed list of what maintenance was required and on this particular day, the theme was stoves and bathroom fans.<\/p>\n
Susie stopped for a quick bite to eat and checked her emails and voicemail. She had some urgent work orders to send off and new approvals for work by landlords which meant that she could get these orders underway. Susie then replied to the non-urgent emails that she had received. A few requests for invoices and statements meant that she needed to search the system for these and get them out to waiting landlords.<\/p>\n
With the recent changes to Health and Safety legislation, Susie said that she's been explaining the process to a few of her landlords. She was also able to direct them to our website for more information.<\/p>\n
While answering emails she puts in a call to the owner of the house with the burst pipe and explains exactly where the process is up to. This particular landlord lives in Australia and likes to be notified of anything major like this. At this point, they are happy with the action that Susie has taken and leave her to finish off the job.<\/p>\n
Her afternoon progresses quickly with emails answered, all phone calls returned and the morning's inspections downloaded and sent out to landlords.<\/p>\n
Next, she checks to see if all of her rents have been paid and deals with any arrears that have cropped up. There is one that she needs to follow up with today so she calls the tenant. Turns out it was an oversight and the issue is sorted by them both quick smart!<\/p>\n
The last thing she does before going home is to follow up with the plumber who was sorting out the burst pipe. He states that the pipe is fixed and the water supply has been sorted for her tenants. She sends an email to the owners letting them know the outcome.<\/p>\n
She comments that tomorrow is another day and looks forward to the challenges ahead. She got the ball rolling on getting issues sorted for tenants and owners alike, she made sure her owners got a positive outcome and their investment is well looked after. Susie has provided her landlords and tenants with open communication and peace of mind.<\/p>"},[{"Icon":"property-management","Content":"Our Property Management Services","Link":"http:\/\/www.oxygen.co.nz\/landlords"},{"Icon":"down-chevron-thin","Content":"What is a Rental Appraisal?","Link":"http:\/\/www.oxygen.co.nz\/new-business"},{"Icon":"record-or-document","Content":"Get Free A Rental Appraisal","Link":"http:\/\/www.oxygen.co.nz\/request-a-rent-appraisal"}]],"PageType":"NewsArticlePage","Sort":"39","Created":"2017-06-27 16:37:41","Blurb":"Where do I start?<\/h2>\n
Retrofit insulation, how much is it?<\/h2>\n