Issuu

The Lighter Side of Property Management Volume 4

Introduction: We are always looking for ways to add value to our clients, contacts and friends. Which is why we are delighted to share The Lighter Side of Property Management - Volume 4 Inside you’ll discover the tenants who take their houses with them and the unusual video store you could rent for one night. You’ll also see the retirement village where the rent is paid by friendship and the remarkable New York apartment that costs under $29 a month. Plus we have some entertaining cartoons and Brain Boost challenges. We also have our Barfoot & Thompson Time Machine where we go back to the year 2000. You’ll be fascinated to see what has changed in 26 years. We hope this gives you a smile and a few interesting things to talk about. Warm regards Monita Keshwan Head of Property Management

The Lighter Side of Property Management Volume 4

The tenants who take their houses with them Historically, many workers in Barbados owned their houses but rented the land beneath them. Because the landowner could end the tenancy, residents developed an ingenious solution: the chattel house. These wooden homes were built in sections and rested on stone blocks rather than permanent foundations. If a lease ended or the family found work elsewhere, the house could be dismantled, loaded onto carts and rebuilt on a rented section. Families could even enlarge their homes by attaching extra sections as their needs changed. Most tenants take their furniture when they move. The owners of Barbados’s chattel houses could take the walls, windows, roof and the rest of the house as well.

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

The video rental store you could rent for the night In 2020, the world’s last remaining Blockbuster video store, in Bend, Oregon, was temporarily converted into an Airbnb. The manager created a 1990s-style living room inside the store, complete with a sofa bed, beanbags, snacks, video games and shelves containing thousands of movies. Three local groups were each offered a one-night stay and an unlimited movie marathon. The price was just US$4 a night. Only one cent more than renting a movie from the store. For three nights, the world’s last Blockbuster became two different rental businesses at once. Guests could rent a movie and then rent the store to watch it in.

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

The New York apartment rented for $28.43 a month In 1955, actress Patricia O’Grady moved into a two-bedroom apartment in New York’s Greenwich Village with three friends. The monthly rent was just US$16. In return, the four tenants agreed to sweep the hallways and keep the building tidy. Her friends eventually moved out, but Patricia stayed for 63 years. The apartment remained extremely basic, with no central heating, hot water, bath or shower. By 2018, her rent had risen to only US$28.43 a month. After she left, the owner estimated that a renovated apartment could rent for around US$5,000. Most New York tenants worry about the next rent increase. Patricia experienced an increase of just US$12.43 in 63 years.

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

The students who pay their rent with friendship At Humanitas retirement home in Deventer, the Netherlands, university students receive something most students can only dream about: a rent-free apartment. There is one unusual condition. Each student must spend at least 30 hours a month being a “good neighbour” to the elderly residents. They share meals, celebrate birthdays, watch sport, teach residents how to use computers and stop for friendly conversations. Their presence brings youthful energy and companionship into the home, while the students receive affordable accommodation and some remarkable new friends. Most landlords ask tenants to pay their rent with money. At Humanitas, the most valuable payment is simply spending time with your neighbours.

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

The rent paid with horseshoes, nails and knives Every year, the City of London pays rent to the Crown for two ancient pieces of land. No money changes hands. For one property, the rent is two knives—one sharp and one blunt. For the other, it is six enormous horseshoes and 61 horseshoe nails. The tradition dates back more than 800 years. During the ceremony, the nails are counted and the knives are tested on a hazel stick before the King’s Remembrancer declares the rent paid. Remarkably, the exact locations of the properties have been lost over time. Even better, the horseshoes and nails are loaned back to the City. So it can use them to pay next year’s rent.

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

Brain Boost: How sharp is your thinking today? No calculators. No Google. No AI. Just you and your brain! Spend about 60 seconds on each challenge before turning to page 11 for the answers. Challenge 1 – The Two Coins I have two New Zealand coins that add up to 30 cents. One of the coins is not a 10-cent coin. What are the two coins? Challenge 2 Move one matchstick to make the equation correct. The matchstick must remain part of the diagram. It cannot simply be removed.

Challenge 3 If five machines make five keys in five minutes, how long would 100 machines take to make 100 keys? Answers on page 11. Don't peek until you've had a go!

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

Welcome to our Barfoot & Thompson Time Machine Destination: Papatoetoe, January 2000 Imagine climbing into a time machine, turning the dial back 26 years and arriving in Papatoetoe at the beginning of the year 2000. People everywhere were celebrating. Technically, it was the final year of the 20th century, but it felt like the beginning of a brand-new era. The streets and houses would look familiar, but the prices might make you wonder whether the time machine had made a mistake. Take one real three-bedroom home at 24 Milan Road. It sat on a generous 809-square-metre section and sold in May 2000 for just $200,000. By August 2026, its estimated value was approximately $950,000. If we had told the buyers in 2000 that their home might one day be worth nearly a million dollars, they probably would have smiled politely and offered us another cup of tea. Renting was far less expensive too. Rental-bond records indicate that a typical three-bedroom Papatoetoe home could be rented for around $220 a week. Today, a similar home might be advertised at approximately $650 to $700 a week, depending on its location, condition and presentation. Of course, wages and other costs were lower in 2000. Even so, an entire week’s rent could cost less than many Auckland families now spend during one substantial supermarket visit. Shall we do some shopping? In 2000, two litres of milk cost approximately $2.83, while a 750-gram loaf of white bread averaged about $1.84. By January 2026, two litres of milk averaged $4.92, while a basic 600-gram white loaf averaged approximately $2.20. Milk and bread certainly became a little more expensive. But their price rises looked positively modest beside Auckland property prices. A house bought in 2000 might now be worth a fortune. A loaf of bread bought in 2000 would probably have developed its own ecosystem. A new Toyota Corolla started at approximately $25,950 in 2000, while petrol cost close to $1 a litre. Filling a 50-litre tank cost about $49. With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

Today, the same fill can cost more than $150. (Although at least a modern car can guide us home without an enormous Auckland street directory.) Life before the smartphone Now that we have bought our house, collected the groceries and filled the car, let’s look at everyday life in January 2000. Mobile phones were available, but most were mainly used for calls and short text messages. They couldn’t take good photographs, provide directions, check your bank balance or settle a friendly disagreement by finding the answer online. If you wanted photographs, you carried a separate camera and waited for the film to be developed only to discover that somebody had closed their eyes in every picture. The first iPhone was still seven years away. Facebook, YouTube and Instagram did not exist, and nobody had heard of a podcast, a social-media influencer or a family WhatsApp group. If someone wanted to show you 47 holiday photographs, they usually had to invite you to their house first. The internet existed, but many households connected using dial-up. It produced a memorable collection of electronic beeps and squeals, occupied the telephone line and required considerable patience. If someone picked up another phone, the connection could disappear just as the page you wanted was finally beginning to appear. How we entertained ourselves Music came mainly from the radio, cassette tapes and compact discs. A CD held around a dozen songs, and even if you loved only one, you still bought the entire album. Spotify was years away, so creating a playlist meant recording songs or burning your own CD. Television required planning too. Programmes were broadcast at a particular time, and if you missed one, you couldn’t simply stream it later. You might record it on a VHS cassette, provided nobody had taped a rugby match over it. A visit to the video shop was popular weekend entertainment. You wandered along the shelves, chose a movie and took it home, hoping the previous customer had remembered to rewind it. Today, thousands of films are available instantly although somehow it can still take half an hour to decide what to watch.

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

What would surprise a visitor from the year 2000? Someone from January 2000 would probably consider today’s technology magical. We can make video calls, carry thousands of songs in our pockets, take virtual tours of rental homes and sign tenancy documents without leaving the house. Yet some things remain reassuringly familiar. People still want a comfortable home, good neighbours and someone dependable to call when something needs attention. Technology has transformed how properties are advertised, rented and managed but it hasn’t changed what makes a place feel like home. Our Barfoot & Thompson Time Machine has now returned safely to 2026. So let’s see how you went with the Brain Boost challenges on page 8… Brain Boost answers Challenge 1 – The two coins The coins are a 20-cent coin and a 10-cent coin. One of the coins is not a 10cent coin—it’s the 20-cent coin. The other coin is! Challenge 2 – Move one matchstick Move the upright matchstick from the plus sign and place it on the number 6. This changes the 6 into an 8 and the plus sign into a minus sign. The correct equation is: 8 − 4 = 4

Challenge 3 – The machines The answer is five minutes. Each machine makes one key in five minutes, so 100 machines working together will make 100 keys in the same five minutes.

With the compliments of Barfoot & Thompson Papatoetoe

The Lighter Side of Property Management Volume 4

Barfoot & Thompson Papatoetoe Partnering with Barfoot & Thompson Papatoetoe brings you the strength of Auckland’s most trusted real estate agency alongside dedicated local experts. Instead of handling stressful day-to-day issues, you can sit back and relax, confident that your investment is in safe hands. Backed by a 100-year family legacy and a network managing over 20,000 rental properties, our Papatoetoe team offers unmatched scale and deep local market knowledge. We know the area well and can give you the best advice and service tailored to the local community. We maximise your returns and minimise vacancy through a rigorous tenant selection process and an extensive database of quality applicants. With regular market rent reviews and consistent occupancy, we make managing your rental property completely stress-free.

With the compliments of Barfoot & Thompson Papatoetoe