central unl cked NO 02 SEPTEMBER / 2022 GRAND DESIGNS CLIFFTOP RETREAT GET LOAN READY TITLED ‘CLIFFTOP RETREAT’ BY NEW ZEALAND’S TELEVISION SERIES GRAND DESIGNS, THIS ARCHITECTURAL PIHA HOME IS FOR SALE WITH OUR AGENT GLEN FOSTER MORTGAGE ADVISOR NIKKI KAPADIA PROVIDES THE ULTIMATE TOOLKIT FOR GETTING LOAN READY HAVE YOU HEARD ABOUT THE PROPERTY SECRET KIERAN TRASS REVEALS WHY MANY PEOPLE FAIL TO BUY PROPERTY DURING SOME OF THE BEST TIMES
INSIDE INSIDE THE MARKET TRENDS, STATS ANDINSIGHTS 6 11
4A NOTE FROM THE DIRECTOR RICHARD HUMPHREYS 5SECOND TIME ROUND MARKETING CAMPAIGN 6INSIDE THE MARKET JULY 2022 8HAVE YOU HEARD ABOUT THE PROPERTY SECRET KIERAN TRASS SHOW YOUR SUPPORT DAFFODIL DAY 26 AUGUST GET LOAN READY MORTGAGE MARKET WITH NIKKI #PROPERTY SPOTLIGHT 81 PIHA ROAD PIHA Beautifully curated from an architectural mind, excellently located at the green heart of Royal Oak, and newly built for those who place quality of life above all else. 12 Twentythree Group Ltd Licensed REAA 2008 Business Owners Richard Humphreys 021 893 richard.humphreys@harcourts.co.nz310 Abbey Davis 027 464 abbey.davis@harcourts.co.nz5121 Business & Performance Manager Andrew Simich 021 479 andrew.simich@harcourts.co.nz473 Operations & Marketing Manager Abbey Lucas 021 058 abbey.lucas@harcourts.co.nz5388 95 Manukau Road, AucklandEpsom1023 Central Unlcocked is subject to copyright in its entirety and the contents may not be reproduced in any form, either in whole or part, without written permission. Opinions expressed in Central Unlcoked are those of contributors and not necessarily those of Twentythree Group Ltd. No responsibility is accepted for unsolicitedmaterial. 11 GETTING REAL WITH VENDORS & BUYERS PODCAST WITH LISA WESTERBY #PROPERTY SPOTLIGHT 81 PIHA ROAD, PIHA SELLING A RENTAL PROPERTY PROPERTY MANAGEMENT FOCUS 18HARCOURTS FOUNDATION CHRIST THE KING CATHOLIC SCHOOL DONATION 9 10 12 16 HARCOURTS RISING STAR JENNA GLATT 19
Richard Humphreys
A NOTE FROM THE
DIRECTOR
I have never experienced a home game in NZ where the visiting team (Philippines) were cheered for louder than the home squad, it reminded me of the first breakers NBL finals. In other celebrations, at our Harcourts Regional Awards, our very own Jenna Glatt received the Rising Star Award - highly deserved given her dedication since joining the team back in lock down 2021! Forever learning, we attended our National Harcourts Leadership Conference, hearing from fantastic speakers and learning new initiatives for keeping us one step ahead, and in addition we had Mike Green, our Executive Director at Harcourts International Ltd come in for a mentoring session with the team! Our agent, Glen Foster has been out in the market representing Harcourts Twentythree with a stunning Grand Designs property at Piha.
On the market activity front, Tony Alexander said one thing in his recent article that has sat with me; “the buyers are still there and are waiting in the shadows” - this remains in my mind. We are still working extremely closely with buyers and sellers, even when they are under contract to get deals across the line, but activity is returning and it may be undulating, but I am expecting a steady finish as we head into spring.
ONE TEAMgotWE’VE THIS!
Another month in the books for the team here at Twentythree, and after an auction packed last couple of months, a group of us took a deserved break to take in the atmosphere at Eventfinder Stadium (aka The North Shore Event Centre for all those Breakers Stalwarts).
TAILORED MARKETING CAMPAIGN
The strategy is all encompassing and gives us the opportunity to tap into every possible buyer (passive or active) that is available at this point in time.
When the property goes live in the Harcourts domain, this is broadcasted via e marketing to the network of agents who in turn release the property to their own databases of buyers. We also have an active database of qualified buyers who are in the market right now.
Sold!
SECOND TIME LUCKY WITH HARCOURTS
We'll be changing things up, getting your property in front of the breadth and width of the market to get you the result you ' re looking for and the result you deserve NETWORK ADVERTISING
A fully integrated campaign comprising a very large web, signage and social media presence.
BUYER TARGETING
2. Determine how interest rate increases impact you Now that you know how your home loan is structured, your mortgage adviser can help you determine the impact any interest rate rises will have on your home loan repayments. You can also use a home loan repayment calculator –what your repayments are going to look like. If your fixed rate term is nearing the end, now is a good time to discuss with your mortgage adviser locking in an interest rate. It’s also worthwhile comparing how your interest rates stack up market, and this is something else your mortgage adviser can help you with.
Bringing you news from the world of New Zealand property management.
Tips for Dealing with Rising Mortgage Rates
Here are some options:
Source: co.nz/blog/rising-mortgage-rateshttps://www.mortgage-express.
Activity returns! Over the last three weeks we have seen an uptick in number of attendees at our open homes. These have quite literally reached double figures across our campaigns on average, this has lead to strong buyer engagement with offers coming in thick and fast as the buyers in the market have finally seen some competition back in the 1 & 2 year fixed rates. For the right property, buyers are also getting in position to attend auctions again. I still think if you’re going to get a surprise, auction is still the environment for this to happen.
INSIDE THEMarket
3. Devise a plan to help you manage a noticeable number of households that borrowed for the first time in 2021 will find it difficult to pay their mortgages and cover all . If you’re in this situation, start building up a savings buffer now to help you manage the higher repayments you are going to Take a close look at your budget to identify the expenses you can cut out or ways in which you can boost your income. Check that you’re getting the best deal for utilities – power, internet and phone – and pay down any high interest debt as soon as you can to help free up extra cash to divert into
PROPERTY FOCUS Management
Get expert advice about your financial situation With more interest rate hikes predicted, it’s important to have a financial plan in place to help you cope with higher mortgage repayments. As well finding ways to cut back on unnecessary spending, building up a savings buffer could help you prepare for higher costs Ifahead.you’re concerned about the impact higher mortgage repayments could have on your financial situation, it’s best to seek help immediately. Contact your mortgage adviser or lender to discuss your situation before you miss any repayments. Contact a Mortgage Express branded adviser if you have questions about your existing home loan and the impact higher interest rates could have on your financial situation.
Harcourts is New Zealand’s largest and most trusted real estate group*, with over 2600 sales consultants across 197 offices and a growing property management team. For more information visit www.harcourts.co.nz. While every effort has been made to ensure that the
1. Check what mortgage you are currently on The first step is to determine how your current mortgage is structured, as interest rate increases will affect the floating portion of your home loan, as well as any fixed interest rate terms that are ending that are going to be Ifrefixed.you’re not sure how your home loan is structured, contact your lender or mortgage adviser to help you work through the details. It’s worth booking in a home loan restructure checkin adviser, to ensure you’re getting the best deal available to you, and that your home loan is structured to fit your requirements.
Rising interest rates are bad news for first home buyers and borrowers alike, with new homeowners and investors (those who bought homes in the last 18 months) facing much higher mortgage repayments for the first time. With the Reserve Bank of New Zealand signalling further interest rate hikes are on the horizon, how can we avoid placing strain on already tight budgets and stay on top of bigger mortgage repayments?
Richard Humphreys Business Owner | Harcourts Twentythree
JULY 2022 AUCKLAND CENTRAL MARKET INSIGHTS Source: REINZ
- KIERAN TRASS
• Gives you the confidence to be countercyclical and make smart decisions while others ‘wait for a better time’
• Is not new and has withstood the test of time
For example, if inflation is 10% in a year and property prices rise by 5% then the ‘real’ price is deemed to have fallen by 5% in that year. Yes, that’s right, ‘real’ prices are deemed to have fallen even though ‘nominal’ prices rose by 5%.
• Reveals why many people fail to buy property during some of the very best times to buy
How can that possibly be you ask? Simple. It comes down to terminology. There are two terms used to describe property price growth in economic terms. One of them is known as the ‘real’ price of properties and the other is known as ‘nominal’. It is true that between 1975 and 1981 ‘real’ property prices fell by 37% but in ‘nominal’ terms they rose by 40%. Unless you are an economist, or are familiar with economic terminology, the use of the word ‘real’ in this case is quite misleading. That’s because you could logically think that ‘real’ means the actual dollar price of a property, but it does not. The term ‘real’ in this context takes into account the rate of inflation i.e. it deducts the rate of inflation from property price growth. On the other hand, the actual dollar price of a property is referred to as a “nominal” price.
Unbeknown to many, this secret has quietly been benefiting property owners for many years —even in an apparently falling market. An example of how this secret benefits property owners but is unknown to many is the pervasive myth circulating that in the late 1970’s the property market experienced a price crash. A crash apparently on a scale not seen before in recorded history, at least not by anyone too young to remember the Great Depression of the 1930s. You may have heard this myth which says that property prices fell by 37% between 1975 and 1981 but what if I told you there was no bust or crash in the price of properties? In fact property prices did not fall at that time but rose by 40%.
The 1970’s was an era of high double digit inflation, and at that time it was common knowledge that inflation was beneficial to property prices. Property came to be regarded as ‘inflation proof’, meaning prices would rise by some or all of the rate of inflation in time. So the property secret is inflation. Inflation underpins property prices. Why? Because when the replacement (or new) cost to build property rises due to increases in the costs of materials and labour then property prices must also rise. Inflation can take time to trickle down and influence property prices but it always does in the end, sooner or later. KIERAN’S
THIS PROPERTY SECRET
VISIT
HAVE
History proves this property secret is particularly important information to know in a soft property market. This secret is only known by a minority today. Some who used to know this secret have forgotten it because the property booms since the 1990’s have been so long and strong in a low inflationary environment. YOU HEARD ABOUT THE PROPERTY SECRET?
WEBSITE FOR MORE
Four easy ways to donate to the Cancer Society this Daffodil Day DONATE FUNDRAISE FVOLUNTEER RESH FLOWERS
Ifahead.you’re concerned about the impact higher mortgage repayments could have on your financial situation, it’s best to seek help immediately. Contact your mortgage adviser or lender to discuss your situation before you miss any repayments. Contact a Mortgage Express branded adviser if you have questions about your existing home loan and the IT VENDORS & BUYERS real LISTEN HERE TO THE FULL PODCAST
A fluctuating market is as difficult for buyers and sellers as it is agents. As hard as it is, our job in this market is to feed sellers and buyers the facts, rather than tell them what they want to hear.
OUR AGENT LISA WESTERBY ON THE REAL ESTATE INSTITUTE OF NEW ZEALAND’S NEW PODCAST ‘REAL ESTATE OF MIND’
Tips for Dealing with Rising Mortgage Rates
PROPERTY FOCUS Management ISSUE 6 | 2022
Get expert advice about your financial situation
Digest Most Trusted Brand Survey 2013-2022.
As a seller, it is key you find an agent that you know is in the market, knows the stats and can put in the work to achieve results. This market is more about the agents putting in the work, getting out there and finding the buyer, rather than the buyer finding the property. From a buying perspective, with owners under more pressure than ever, today is the best time to buy. With interest rates on the rise, you are also better to buy when these are low.
KEEPING
FEATURES
As an agent, I consistently take into account that I am working with peoples life assets, it’s a huge responsibility, you don’t want to mislead any buyer or seller and put them under any financial pressure. Always make sure you are open and honest, and do everything you can to get them the best possible result.
interest rates are bad news for first home buyers and borrowers alike, with new homeowners and investors (those who bought homes in the last 18 months) facing much higher mortgage repayments for the time. With the Reserve Bank of New Zealand signalling further interest rate hikes are on the horizon, can we avoid placing strain on already tight budgets and stay on top of bigger mortgage repayments? are some options: Check what mortgage you are currently on first step is to determine how your mortgage is structured, as interest rate increases will affect the floating portion of your home loan, as any fixed interest rate terms are ending that are going to be you’re not sure how your home loan structured, contact your lender or mortgage adviser to help you work through the details. It’s worth booking home loan restructure checka Mortgage Express branded adviser, to ensure you’re getting the deal available to you, and that home loan is structured to fit your requirements. Determine how interest rate increases impact you that you know how your home structured, your mortgage can help you determine the any interest rate rises will have your home loan repayments. You also use a home loan repayment calculator – like this one – to work out your repayments are going to like.fixed rate term is nearing the now is a good time to discuss your mortgage adviser locking in interest rate. It’s also worthwhile comparing how your interest rates up against any other deals in the market, and this is something else your mortgage adviser can help you with. 3. Devise a plan to help you manage higher repayments
The Reserve Bank (RBNZ) has warned that a noticeable number of households that borrowed for the first time in 2021 will find it difficult to pay their mortgages and cover all their other usual expenses. If you’re in this situation, start building up a savings buffer now to help you manage the higher repayments you are going to face in the year ahead. Take a close look at your budget to identify the expenses you can cut out or ways in which you can boost your income. Check that you’re getting the best deal for utilities – power, internet and phone – and pay down any high interest debt as soon as you can to help free up extra cash to divert into your home loan.
Bringing you news from the world of Zealand property management. is New Zealand’s largest and most trusted real estate group*, with over 2600 sales consultants across 197 offices and a growing management team. For more information visit www.harcourts.co.nz. While every effort has been made to ensure that the information of the publication is accurate, we recommend that before relying on this information you seek independent specialist advice.
With more interest rate hikes predicted, it’s important to have a financial plan in place to help you cope with higher mortgage repayments. As well finding ways to cut back on unnecessary spending, building up a savings buffer could help you prepare for higher costs
WITH
Having a budget helps you track your income and expenses, and it’s useful at highlighting where you may be able to cut back on spending or redirect any extra savings.
GET LOAN READY
Getting a pre-approval We can use our easy loan tools to make understand ing your finances easier.
Getting a pre approval
Buying a first home is an exciting time, but it can also feel bewildering, complicated, and even a little scary.
Budgeting may not be a fun task, but it’s an important one. Especially for first home buyers. That’s because lenders want to see, first and foremost, that you can afford to repay your home loan. They do that by scrutinising your income and your expenditure. So as much as possible, you’ll want to show that your income outweighs your spending,and that you have enough leftover every month to cover the extra cost of your mortgage.
Find out how much you could save on interest with an extra repayment to your home loan. Test various amounts to see how you could shorten your loan term and reduce your interest charges.
NIKKI’S TOP TIPS Work with an expert Get rid of personal debt Minimise living expenses
Crunching your numbers We can use our easy loan tools to make understanding your finances easier Home Loan Repayment Calculator
Meeting with a mortgage adviser
Extra Repayment Calculator
Crunching the numbers
To find out how much you could borrow and what your repayments could look like using different inter est rates, loan terms, and repayment frequencies.
To find out how much you could borrow and wh your repayments could look like using different interest rates, loan terms, and repayment frequencies Extra Repayment Calculator
Mortgage Market with Nikki
Before you start house-hunting, it’s a good idea to get mortgage pre-approval. With a mortgage pre-approval, you’ll know how much a lender is prepared to lend to you provided certain conditions are met. So you won’t waste time looking at properties you can’t afford to buy!
Spending and Savings
Look at your outgoings and debt Research different loan types Manage your bank accounts well
Home Loan Repayment Calculator
The first meeting is a bit like a “meet and greet” - a chance for to get to know each other. We’ll go over your goals, talk about the type of property you want to buy, and assess how much you have to spend. We’ll also give you an indication of which lender we think would be right for you, and let you know if you’re ready to buy now or if you need to boost your deposit, pay down some debt, or bump up your savings ahead of your application. We can answer any questions, help you prepare a solid home loan application, and present it to the right lender. Meeting with a Mortgage Advisor
The first meeting is a bit like a “meet and greet” chance for to get to know each other We’ll go o your goals, talk about the type of property you w to buy, and assess how much you have to spend We’ll also give you an indication of which lender think would be right for you, and let you know if you ’ re ready to buy now or if you need to boost deposit, pay down some debt, or bump up your savings ahead of your application We can answ any questions, help you prepare a solid home lo application, and present it to the right lender b
Find out how much you could save on interest w r a o t
Split Loan Calculator Work out your repayments when splitting part of your mortgage. You can also adjust the fixed rate portion to calculate various levels of savings.
Before you start house hunting, it’s a good idea get mortgage pre approval With a mortgage pre approval, you’ll know how much a lender is prepared to lend to you provided certain condit are met So you won’t waste time looking at properties you can’t afford to buy!
#PROPERTY SPOTLIGHT 81 PIHA ROADPiha
GRAND DESIGNS CLIFFTOP RETREAT
Titled the ”Clifftop Retreat” by New Zealand’s television series Grand Designs, this architectural Piha home is a masterclass in wholesome, coastal luxury living. It’s only by the owners’ newer venture and commitment that the Clifftop Retreat is now for sale. As a holiday escape or permanent family sanctuary, 81 Piha Road will be appreciated by home buyers seeking an unparalleled build and paradisal tranquillity. Remarkably engineered and maximising the site’s private position at a soaring altitude over Piha Beach; rolling sets of pipeline surf, iron-rich coastline, Lion Rock, and the Waitakere Ranges become the constant, awe-inspiring panorama digested by every bedroom and indoor/outdoor entertaining zones. With a beautiful waterfall effect of rough-sawn macrocarpa, the centralised living is bookended by the fireplace and a jet-black, gourmet kitchen boasting a hidden butler’s pantry. Glass walls glide open to the spectacular alfresco scene, showcasing an in-ground infinity pool, spa, outdoor shower, and Argentinean BBQ kitchen, replete with a woodfire pizza dome and beer on tap - it’s in every way an entertainer’s home. There is single garaging with an office, a media lounge, a family bathroom, a powder room, and four bedrooms, including the serene master suite featuring a walk-in closet and ensuite. From black slate tiles to concrete flooring, pitch-dark framework, and native lumbers; the presence of these elected materials is a nod to a rustic-couture style, but more so a humble acknowledgement of the unique characteristics of NZ’s beautiful west coast. State-of-the-art technologies ensure homely comfort and performance, including underfloor heating, bespoke lighting, built-in audio, 2-series ventilation system, and a security system; the catalogue of qualities are endless. Marked on a surfer’s atlas as the place to ride; loved by locals, visited by globetrotters and day-trippers, Piha is more than a beach paradise; it’s a village of diversity only 45 minutes from Auckland City.
E: glen.foster@harcourts.co.nz M: 027 288 3927 Auction Sunday 11 September 4pm, onsite (Unless sold prior) Viewing As advertised or by appointment MARKETED BY GLENClickFOSTERhere for more infoProperty Features
The Reserve Bank (RBNZ) has warned that a noticeable number of households that borrowed for the first time in 2021 will find it difficult to pay their mortgages and cover all their other usual expenses. If you’re in this situation, start building up a savings buffer now to help you manage the higher repayments you are going to face in the year ahead. Take a close look at your budget to identify the expenses you can cut out or ways in which you can boost your income. Check that you’re getting the best deal for utilities – power, internet and phone – and pay down any high interest debt as soon as you can to help free up extra cash to divert into your home loan. Get expert advice about your financial situation
GRANTSHOSPICE PROUDLY Harcourts is New Zealand’s largest and most trusted real estate group*, with growing property management team. For more information visit www.harcourts.co.nz. the information of the publication is accurate; we recommend that before *Readers Digest Most Trusted Brand Survey 2013-2022. Scenario 2: Selling a tenanted property where the purchaser wants vacant possession. The landlord sells the property to a purchaser who wants vacant possession on settlement. This must be a requirement of their unconditional agreement for the sale of the property.
Here are some options:
The landlord sells the property to a purchaser who wants vacant possession on settlement. This must be a requirement of their unconditional agreement for the sale of the property. If the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the tenancy so that the property will be vacant on onceScenario If a periodicIfdate.90thehave,uponnoticelandlordtenantpropertylandlordpropertydaysthe
Rising interest rates are bad news for first home buyers and borrowers alike, with new homeowners and investors (those who bought homes in the last 18 months) facing much higher mortgage repayments for the first time. With the Reserve Bank of New Zealand signalling further interest rate hikes are on the horizon, how can we avoid placing strain on already tight budgets and stay on top of bigger mortgage repayments?
Ifahead.you’re concerned about the impact higher mortgage repayments could have on your financial situation, it’s best to seek help immediately. Contact your mortgage adviser or lender to discuss your situation before you miss any repayments. Contact a Mortgage Express branded adviser if you have questions about your existing home loan and the impact higher interest rates could have on your financial situation.
2. Determine how interest rate increases impact you Now that you know how your home loan is structured, your mortgage adviser can help you determine the impact any interest rate rises will have on your home loan repayments. You can also use a home loan repayment calculator – like this one – to work out what your repayments are going to look like. If your fixed rate term is nearing the end, now is a good time to discuss with your mortgage adviser locking in an interest rate. It’s also worthwhile comparing how your interest rates stack up against any other deals in the market, and this is something else your mortgage adviser can help you with.
SELLING A RENTAL PROPERTY
Harcourts also recommends that this news should be given to the tenant either in person or on the telephone so that the tenant feels respected and involved in the sales process and has the opportunity to ask any questions they may have.
Scenario 2: Selling a tenanted property where the purchaser wants vacant possession. The landlord sells the property to a purchaser who wants vacant possession on settlement. This must be a requirement of their unconditional agreement for the sale of the property. If the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the tenancy so that the property will be vacant on settlement. This may affect the settlement date for the property sale. It is highly recommended that there is a period of vacancy between the tenant vacating and settlement so that a final bond inspection can be carried out and any repairs or cleaning attended to.
onceScenario If a terminationtenancylandlordonofItresidingfortheterminatehasnotMarketingFebruaryrulesonthegrantedIf90tenancy2021,grantedfixed-termIftenancy.writtenmustperiodicIfdate.90thehave,uponnoticelandlordtenantpropertylandlordpropertydaysthethedays’thelandlordexpirycommenceterminated,propertysaleisimportanttheaperiodic
Scenario 1: Selling a tenanted property and the purchaser takes over as landlord. The landlord sells the property to a purchaser who continues to rent the property to the existing tenants. The purchaser then takes over the tenancy as the new landlord. The conditions of the tenancy are not affected in this scenario. Note that without vacant possession being part of the unconditional agreement, the purchaser may not be entitled to a pre-settlement inspection. Selling a property can be stressful, and perhaps even more so when there is little benefit for the tenant due to the uncertainty that a potential sale provides. Communication and negotiation with the tenants are important factors to facilitate a successful sale and reasonable access to the prop erty. Once everyone has agreed to a schedule of access and what type of access is agreed to, it is recom mended that this is put in writing and signed by everyone involved. There are three different scenarios that could apply when a landlord sells a tenanted property.
With more interest rate hikes predicted, it’s important to have a financial plan in place to help you cope with higher mortgage repayments. As well finding ways to cut back on unnecessary spending, building up a savings buffer could help you prepare for higher costs
If the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the tenancy so that the property will be vacant on settlement. This may affect the settlement date for the property sale. It is highly recommended that there is a period of vacancy between the tenant vacating and settlement so that a final bond inspection can be carried out and any repairs or cleaning attended to.
1. Check what mortgage you are currently on The first step is to determine how your current mortgage is structured, as interest rate increases will affect the floating portion of your home loan, as well as any fixed interest rate terms that are ending that are going to be Ifrefixed.you’re not sure how your home loan is structured, contact your lender or mortgage adviser to help you work through the details. It’s worth booking in a home loan restructure checkin with a Mortgage Express branded adviser, to ensure you’re getting the best deal available to you, and that your home loan is structured to fit your requirements.
When a landlord decides to sell a rental property, they must tell the tenant in writing.
3. Devise a plan to help you manage higher repayments
Tips for Dealing with Rising Mortgage Rates
The Healthy Homes Standards set specific and minimum requirements, and landlords can choose to provide heating over and above the minimum standards, heating other parts of the property and not only the main living room. This will ensure a dryer, warmer, healthier home, and one that is likely to be more attractive to tenants.
Bringing you news from the world of New Zealand property management. Harcourts is New Zealand’s largest and most trusted real estate group*, with over 2600 sales consultants across 197 offices and a growing property management team. For more information visit www.harcourts.co.nz. While every effort has been made to ensure that the information of the publication is accurate, we recommend that before relying on this information you seek independent specialist advice.
If the current tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on the expiry of the fixed term (or later) with 90 days’ written notice if the sale of the property has a requirement that the landlord gives the purchaser vacant possession. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on the expiry in accordance with the rules that were in place before the February 2021 law changes. A fixed-term tenancy cannot be ended early by the landlord or tenant unless the tenant agrees in writing to end it. If the tenant doesn’t agree, the property must be sold with the tenant and tenancy in place (see Scenario 1).
Standards: What Defines regulationsliving be lounge/livingkitchen/capacity.termsheatingstandard,theoflivingrequired
*Readers Digest Most Trusted Brand Survey 2013-2022.
Access appeaseaspropertyrentlandlordsHarcourtsincludingbethis).landlordfortemporaryonly.purchaserspropertyTenantsreasonablerefuseTenantsbuildingvaluer,professionalsthroughtoalsopossessions.photographsThethepermissionLandlordspropertytenantgetshow•limittimes•refuseauctionspermittingalwaysreductionan
Scenario 2: Selling a tenanted property where the purchaser wants vacant possession.
If the current tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on the expiry of the fixed term (or later) with 90 days’ written notice if the sale of the property has a requirement that the landlord gives the purchaser vacant possession. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on the expiry in accordance with the rules that were in place before Scenario 3: Selling a property once the tenant has vacated: If a landlord wants to put a rental property on the market without the tenant residing at the property, the landlord must give the appropriate notice to the tenant depending upon what type of tenancy they have, and they are required to put the property on the market within 90 days of the tenancy termination Ifdate.the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the periodic Iftenancy.thecurrent tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on expiry (or later) with 90 days’ written notice. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on expiry in accordance with the rules that were in place before the February 2021 law changes. Marketing of the property must not commence until the tenancy has terminated, if the reason to terminate the tenancy was so that the property could be marketed for sale without the tenant residing at the property.
importantnegotiationsuccessfultohasaccessagreedthisscenarioslandlord
Source: co.nz/blog/rising-mortgage-rateshttps://www.mortgage-express.
PROPERTY FOCUS Management
*Readers Digest Most Trusted Brand Survey 2013-2022.
dby New dZeala by Zeala must be a requirement of their unconditional agreement for the sale of the property. If the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the tenancy so that the property will be vacant on settlement. This may affect the settlement date for the property sale. It is highly recommended that there is a period of vacancy between the tenant vacating and settlement so that a final bond inspection can be carried out and any repairs or cleaning attended to.
• limit access to certain days and times of the week
Harcourts recommends that landlords consider a temporary rent reduction when selling their property with a current tenant, as an act of goodwill designed to appease the tenants during the sale process, resulting in a higher level of Ifcooperation.youareconsidering selling,
• limit access to certain days and times of the week • refuse open homes and auctions at the property.
If the current tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on the expiry of the fixed term (or later) with 90 days’ written notice if the sale of the property has a requirement that the landlord gives the purchaser vacant possession. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on the expiry in accordance with the rules that were in place before the February 2021 law changes. A fixed-term tenancy cannot be ended early by the landlord or tenant unless the tenant agrees in writing to end it. If the tenant doesn’t agree, the property must be sold with the tenant and tenancy in place (see Scenario 1).
• refuse open homes and auctions at the property. Tenants can insist that the property be shown to potential purchasers by appointment only. They can also ask for a temporary rent reduction in return for permitting open homes (the landlord does not have to grant this). Tenants have the right to be always present at the home, including during open homes.
If the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the tenancy so that the property will be vacant on settlement. This may affect the settlement date for the property sale. It is highly recommended that there is a period of vacancy between the tenant vacating and settlement so that a final bond inspection can be carried out and any repairs or cleaning attended to.
Tenants can’t unreasonably refuse access, but they can set reasonable conditions. They may:
If the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the tenancy so that the property will be vacant on settlement. This may affect the settlement date for the property sale. It is highly recommended that there is a period of vacancy between the tenant vacating and settlement so that a final bond inspection can be carried out and any repairs or cleaning attended to.
Access to the property Landlords must get the tenant's permission before entering the property to take photos.
Tenants can insist that the property be shown to potential purchasers by appointment only. They can also ask for a temporary rent reduction in return for permitting open homes (the landlord does not have to grant this). Tenants have the right to be always present at the home, including during open homes.
If the current tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on the expiry of the fixed term (or later) with 90 days’ written notice if the sale of the property has a requirement that the landlord gives the purchaser vacant possession. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on the expiry in accordance with the rules that were in place before the February 2021 law changes. A fixed-term tenancy cannot be ended early by the landlord or Scenario 3: Selling a property once the tenant has vacated: If a landlord wants to put a rental property on the market without the tenant residing at the property, the landlord must give the appropriate notice to the tenant depending upon what type of tenancy they have, and they are required to put the property on the market within 90 days of the tenancy termination Ifdate.the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the periodic Iftenancy.thecurrent tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on expiry (or later) with 90 days’ written notice. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on expiry in accordance with the rules that were in place before the February 2021 law changes. Marketing of the property must not commence until the tenancy has terminated, if the reason to terminate the tenancy was so that the property could be marketed for sale without the tenant residing at the property. It is important to note that for any of the above scenarios, a tenant on a periodic tenancy can give the landlord 28 notice to terminate their
*Readers Digest Most Trusted Brand Survey 2013-2022. Scenario 2: Selling a tenanted property where the purchaser wants vacant possession. The landlord sells the property to a purchaser who wants vacant possession on settlement. This must be a requirement of their unconditional agreement for the sale of the property.
If the current tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on the expiry of the fixed term (or later) with 90 days’ written notice if the sale of the property has a requirement that the landlord gives the purchaser vacant possession. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on the expiry in accordance with the rules that were in place before the February 2021 law changes. A fixed-term tenancy cannot be ended early by the landlord or Scenario 3: Selling a property once the tenant has vacated: If a landlord wants to put a rental property on the market without the tenant residing at the property, the landlord must give the appropriate notice to the tenant depending upon what type of tenancy they have, and they are required to put the property on the market within 90 days of the tenancy termination Ifdate.the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the periodic Iftenancy.thecurrent tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on expiry (or later) with 90 days’ written notice. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on expiry in accordance with the rules that were in place before the February 2021 law changes. Marketing of the property must not commence until the tenancy has terminated, if the reason to terminate the tenancy was so that the property could be marketed for sale without the tenant residing at the property. It is important to note that for any of the above scenarios, a tenant on a periodic tenancy can give the landlord 28 notice to terminate their
Access to the property Landlords must get the tenant's permission before entering the property to take photos.
The tenant can refuse to allow photographs of their personal possessions. Landlords must also get the tenant's permission to show potential purchasers through the property, as well as professionals like a registered valuer, real estate agent or building expert.
Tenants can’t unreasonably refuse access, but they can set reasonable conditions. They may:
• limit access to certain days and times of the week • refuse open homes and auctions at the property.
possessions. Landlords must also get the tenant's permission to show potential purchasers through the property, as well as professionals like a registered valuer, real estate agent or building expert. Tenants can’t unreasonably refuse access, but they can set reasonable conditions. They may:
It is important to note that for any of the above scenarios, a tenant on a periodic tenancy can give the landlord 28 notice to terminate their tenancy if they receive a notice of termination from their landlord.
Harcourts recommends that landlords consider a temporary rent reduction when selling their property with a current tenant, as an act of goodwill designed to appease the tenants during the sale process, resulting in a higher level of Ifcooperation.youareconsidering selling, remember to speak to your local Harcourts property manager. They will be able to assist you with the sales process from the beginning and enable you to achieve the best possible result.
The tenant can refuse to allow photographs of their personal possessions. Landlords must also get the tenant's permission to show potential purchasers through the property, as well as professionals like a registered valuer, real estate agent or building expert.
Harcourts recommends that landlords consider a temporary rent reduction when selling their property with a current tenant, as an act of goodwill designed to appease the tenants during the sale process, resulting in a higher level of Ifcooperation.youareconsidering selling,
Scenario 2: Selling a tenanted property where the purchaser wants vacant possession. The landlord sells the property to a purchaser who wants vacant possession on settlement. This must be a requirement of their unconditional agreement for the sale of the property.
Tenants can insist that the property be shown to potential purchasers by appointment only. They can also ask for a temporary rent reduction in return for permitting open homes (the landlord does not have to grant this). Tenants have the right to be always present at the home, including during open homes.
notice to the tenant depending upon what type of tenancy they have, and they are required to put the property on the market within 90 days of the tenancy termination Ifdate.the current tenants are on a periodic tenancy, the landlord must give at least 90 days’ written notice to end the periodic Iftenancy.thecurrent tenants are on a fixed-term tenancy that was granted on or after 11 February 2021, the landlord can end the tenancy on expiry (or later) with 90 days’ written notice. If the fixed-term tenancy was granted before 11 February 2021, the landlord can end the tenancy on expiry in accordance with the rules that were in place before the February 2021 law changes. Marketing of the property must not commence until the tenancy has terminated, if the reason to terminate the tenancy was so that the property could be marketed for sale without the tenant residing at the property.
We are delighted to be able to have assisted Christ the King Catholic School along with the support of The Harcourts Foundation with a donation of $1233.95 towards creating a new bike track for their awesome students! IN Y UR COMMUNITY WE’RE PROUDLY INVOLVED WITH THE HARCOURTS FOUNDATION
central unl cked Harcourts Epsom 95 Manukau Road, Epsom Auckland www.harcourtstwentythree.co.nzTwentythreetwentythree@harcourts.co.nz10230800232323GroupLtdLicensedREAA2008
