web analytics

Landlord charges market rent

Written By: - Date published: 8:39 am, July 10th, 2010 - 10 comments
Categories: capitalism, Maori Issues - Tags: ,

Last week The Herald ran this interesting piece:

Rent to start flowing for iwi land

Thousands of tenants in Auckland’s CBD face rent rises from next year as hundreds of millions of dollars worth of waterfront land begins returning income to its Maori owners. Leasehold rent payments on the ex-railway land bounded by The Strand, Quay St and Beach Rd have been suspended since Ngati Whatua bought the 20ha block in 1996. But from August next year, the iwi will begin sending monthly bills to owners of valuable real estate …

The Ngati Whatua O Orakei Maori Trust Board’s chairman, Grant Hawke, said the leasehold income would be hugely beneficial, but urged caution so the rents did not look like “a gold rush” by iwi.

Ngati Whatua O Orakei’s corporate chief executive, Tiwana Tibble, said ground rent income would benefit the iwi’s approximately 5000 members. Education scholarships were a priority. …

“We’re not going to bend over and give huge discounts. We don’t see why we have to,” said Mr Tibble. But the iwis expect a backlash, declaring in the May edition of the newsletter E wawa ra that “there could be negative media coverage aimed at Ngati Whatua as landlords”.

Landlord charges market rent – would this be “news” if the owners were not Maori? Would the land owners be so apologetic if they were not Maori? Would a backlash be expected if the owners were not Maori? Rhetorical questions one and all. We still have a ways to go, don’t we.

10 comments on “Landlord charges market rent ”

  1. Nate 1

    Naw, I think that most of it is due to them not charging rent fro the start. Letting the corporations have free space was the problem…

  2. tsmithfield 2

    I agree that Maori land owners should be just as entitled to charge market rent on their land as anyone else. It shouldn’t become a big news story. Neither should Maori have to feel embarrassed about it. You won’t get any disagreements from good capitalists on this one.

    • QoT 2.1

      You won’t get any disagreements from good capitalists on this one.

      If only there weren’t so bloody few of them …

  3. Akldnut 3

    It’s their property, they can charge whatever sum they like.
    If it’s good enough for everyone else, its good enough for them!!!

    I have a property across the road from them and I charge market rent, why shouldn’t they?

  4. Monty 4

    I personally would never touch a lease-hold property for exactly this reason. When one purchases a property on leasehold land in theory they should not pay for the land – just the improvements. There may be a sum added for the difference between the current rent and the market rent (NPV) of the rent until the next review.

    However you are wrong if you think they can charge what ever they like. This is not a new lease but typically the owner has perpetual rights of renewal on their lease or are long lease terms so the rents are adjusted periodically. Because of this there is a mechanism for establishing rents or a disputes process – if you do not like it then the matter needs to be referred to arbitration. The current interest rates (such as the OCR) will be about the % charged as a rental on these properties.

  5. millsy 5

    Just goes to show that the iwi elite are not the wonderful people that the left think that they are – sometimes that can be worse than the white man.

    • felix 5.1

      Um, the right is in govt with the iwi elites you moron.

      I challenge you to find a single positive word about iwi elites from a lefty on this blog.

      • millsy 5.1.1

        Felix,

        A few months ago, the people on this blog proposed transferring a large part of this country’s conservation estate to the Tuhoe elite. Who I would presume would charge rich tourists thousands of dollars to access and leave us regular honkies to settle for driving past it in their cars.

        (I wonder what old Don Anderson, the man who lead me into the Ureweras back in 1997-98, thinks of it)

  6. lprent 6

    Be good for the NW to get more income. Then they can acquire more land, and send more kids on scholarships. I think that they’re one of the larger land owners around Auckland.

    I think I will have a nosey around and see what the plans are for the future

Links to post

Recent Comments

Recent Posts

  • Fast-tracked Northland water project will accelerate economic recovery
    The Government has welcomed the decision to approve a new water storage reservoir in Northland, the first of a number of infrastructure projects earmarked for a speedy consenting process that aims to accelerate New Zealand’s economic recovery from Covid-19.  The Matawii Water Storage Reservoir will provide drinking water for Kaikohe, ...
    BeehiveBy beehive.govt.nz
    2 days ago
  • Tokelau Language Week reminds us to stay united and strong
    Staying strong in the face of challenges and being true to our heritage and languages are key to preserving our cultural identity and wellbeing, is the focus of the 2020 Tokelau Language Week. Minister for Pacific Peoples, Aupito William Sio, says this year’s theme, ‘Apoapo tau foe, i nā tāfea ...
    BeehiveBy beehive.govt.nz
    7 days ago
  • NZ announces a third P-3 deployment in support of UN sanctions
    The Government has deployed a Royal New Zealand Air Force P-3K2 Orion (P-3) maritime patrol aircraft to support the implementation of United Nations Security Council (UNSC) resolutions imposing sanctions against North Korea, announced Minister of Foreign Affairs Winston Peters and Minister of Defence Ron Mark. “New Zealand has long supported ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Pacific trade and development agreement a reality
    Pacific regional trade and development agreement PACER Plus will enter into force in 60 days now that the required eight countries have ratified it. Trade and Export Growth Minister David Parker welcomed the announcement that the Cook Islands is the eighth nation to ratify this landmark agreement. “The agreement represents ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Securing a pipeline of teachers
    The Government is changing its approach to teacher recruitment as COVID-19 travel restrictions continue, by boosting a range of initiatives to get more Kiwis into teaching. “When we came into Government, we were faced with a teacher supply crisis,” Education Minister Chris Hipkins said. “Over the past three years, we ...
    BeehiveBy beehive.govt.nz
    2 weeks ago
  • Border exceptions for a small number of international students with visas
    The Government has established a new category that will allow 250 international PhD and postgraduate students to enter New Zealand and continue their studies, in the latest set of border exceptions. “The health, safety and wellbeing of people in New Zealand remains the Government’s top priority. Tight border restrictions remain ...
    BeehiveBy beehive.govt.nz
    3 weeks ago
  • First COVID-19 vaccine purchase agreement signed
    The Government has signed an agreement to purchase 1.5 million COVID-19 vaccines – enough for 750,000 people – from Pfizer and BioNTech, subject to the vaccine successfully completing all clinical trials and passing regulatory approvals in New Zealand, say Research, Science and Innovation Minister Megan Woods and Health Minister Chris Hipkins. ...
    BeehiveBy beehive.govt.nz
    3 weeks ago
  • International statement – End-to-end encryption and public safety
    We, the undersigned, support strong encryption, which plays a crucial role in protecting personal data, privacy, intellectual property, trade secrets and cyber security.  It also serves a vital purpose in repressive states to protect journalists, human rights defenders and other vulnerable people, as stated in the 2017 resolution of the ...
    BeehiveBy beehive.govt.nz
    3 weeks ago
  • Ministry of Defence Biodefence Assessment released
    The Ministry of Defence has today released a Defence Assessment examining Defence’s role across the spectrum of biological hazards and threats facing New Zealand. Biodefence: Preparing for a New Era of Biological Hazards and Threats looks at how the NZDF supports other agencies’ biodefence activities, and considers the context of ...
    BeehiveBy beehive.govt.nz
    3 weeks ago