Rental Market update

Mike ReedUncategorized

The rental market in early May on Trade Me listings is similar to the last 6 years after moving out of level 4 I have just rented a 4 bedroom family home in Otumoetai in 2 days for the same rent as a year ago. Rents seem to be holding up, there are more listings than 2 months ago but … Read More

My oral submission to the Residential Tenancies Amendment bill

Mike ReedUncategorized

For 20 years I have been a full-time property investor not a speculator in Tauranga & Rotorua & 8 years owner of Focus Property Management I estimate I have had approximately 350 tenants in this time.   I have only issued one 90-day notice for anti-social behaviour & 2 evictions for rent arrears! On average tenants stay 2.5 years I wish to … Read More

How to rent a house

Mike ReedUncategorized

December 2019 In these times of a “Housing Crisis “ (which in the last year in my markets of Tauranga & Rotorua I now agree with) you need to stand out from the crowd. There generally is a property to suit every bodies expectations & price range but there will be competition. We are not looking for the professional family … Read More

Proposed Changes to Tenancy Law

Mike ReedUncategorized

December 2019 The key changes include: Limit rent increases to once every 12 months and banning the solicitation of rental bids by landlords. Improve a tenants security  by removing a landlord’s right to use no cause terminations to end a periodic tenancy agreement. Making rental properties safer and more live able by letting tenants add minor fittings such as brackets to secure … Read More

Rental Demand

Mike ReedUncategorized

February 2019 Trade me is still the best website that the majority of tenants look at when they want to rent a house. Its straightforward to use and most people have Trade me accounts. Tenants can save searches for certain areas, with new properties emailed to them daily. They can easily compare comparable properties to get an idea of market … Read More

10 Year Rent Increase

Mike ReedUncategorized

September 2013 I would estimate that I have been investing for a full property cycle in the Bay of Plenty (12 years) Graph 1 . Red Mount MaunganuiYellow TaurangaBlue TaupoGreen Rotorua We all know what the capital growth in our properties have been but what about the growth in rental prices. I needed this information when preparing a cash flow budget … Read More

How to beat the competition

Mike ReedUncategorized

July 2013 How to keep tenants long term Two of my 5 year plus tenants have moved in the last year, thus the thought,was it skill or luck to keep them that long. Some luck, you cannot always tell, or will be told, or they simply don’t knowtheir long term intentions. Skill, I think plays a large part.Present a warm, … Read More

Adding Value To Your Property

Mike ReedUncategorized

Adding value to properties From 2001 to 2011 I called myself a full time property investor. I specialised in finding run down 1960s & 70s houses, modernising, fixing any problems then renting them. I also traded properties on a rising market, adding value by a cosmetic reno, subdividing large sections then selling. In my experience the most important advice that you can … Read More

Get To Know Your Roof

Mike ReedUncategorized

Get to know your roof Except for re-cladding your house, your roof can be the next most expensive item you may need to replace. Is $8000 – $12000 budgeted for repairs or maintenance and will this cost blow out those cash flow neutral properties for the next 5 years. My first investment property I purchased 12 years ago, I paid for a … Read More