Most of us tend to shop regularly at the same supermarket. Promotions are the supermarkets’ attempts to break that behaviour.
…
There is data to show it works, [AUT marketing lecturer] Phillips says. In 2016, My Little Garden triggered a lot of what the experts call “switching behaviour”. New World had a 3.6 per cent sales increase (worth $14.4 million) during the promotional period. Pak ’n Save dropped 1.9 per cent and Countdown fell 0.6 per cent, Phillips says.
The experts say customers don’t instantly and automatically switch back at the end of a promotion but the chains are engaged in a constant “Cold War” to keep them. It is why, when one chain runs a promotion, the other will roll one out shortly afterwards.
Ad-so Australia takes a moral stand on human rights issues in China (while NZ keeps sucking up to China) and all you can see is a chance for cheap wine from Oz because China has retaliated.
Wait until China controls the international monetary system and endlessly imposes illegal sanctions like the US, instead of deciding who it will trade with and when.
Say you were to discover that a majority of prices in the economy are set via some form of cost + markup pricing, and not supply and demand. Would you still expect Penfolds to give you their wine at a discount?
That would, I hope, depend on a completely unregulated market free from any other constraint other than my perfect knowledge of the market, a Licensing Trust able to attend to me needs without thought for its internal mass buyers, the market's perfect knowledge of Penfold's, and and zero impact from any government or regulation, anywhere.
I reckon it is no different with the stories we weave and the necessary narratives to tell and develop these stories. The story must be complete, an integrated self-consistent set of facts and factoids. Some people will go to great lengths to make sure no pieces are missing and sometimes people will force a piece into the whole/hole even though it doesn’t fit neatly.
If forests could or should be considered and/or are indeed superorganisms, why would this stop at the DoC signpost at the boundary? Is it just the flora or does it also include the fauna? If yes, what does that mean to the boundary? What does rain and wind mean for the boundary, and streams and rivers? Is communication bi-directional, does it travel upstream and upwind? I think there’s a good story in there, about the terror in the forest and the Dark Woods.
After recently putting up the rent 14%, he then kicks out a mother and her son who has learning disabilities on the eve of a law change to protect tenants because "he deciding what to do".
He says it is business first, but then other landlords say theirs is an important public service, first.
Who to believe, or should we believe none of them?
A quick search on the govt tenancy website shows the range of rents for 3bed homes in Wainuiomata is $500 – 550pw.
Increasing the rent to $430 pw shows that McKenzie had let the rent fall well behind market. It never does anyone any favours in the long run – and I can well understand the dismay of the mother who not only has to try and find a new home in a very tight market, but faces a rental jump in the order of $100pw at the same time.
A 3 bed home in Wainui is probably worth north of $700k if he'd been getting a rent of $380pw – gross income about $19.7k pa – that's a yield of under 3%. His net in the pocket after fixed costs, mortgage and tax was almost certainly less than $5kpa.
At least it will have a nice fresh lick of paint and be tidied up. That’s all aspiring new tenants wish for nowadays and they won’t mind paying the price because beggars can’t be choosers.
Nikki And Cole Prier don’t come into it for landlords.
Given how far behind the market their rent had fallen – I'll bet you that their unfortunate personal position actually did 'come into it' for McKenzie.
We've got one older couple who've been with us for over a decade and they pay way below market – but we deliberately choose to carry them because they both contribute to their community magnificently.
But as I said above – in the long run it may not be doing either party any favours.
“I am now deciding whether to get out of being a landlord, or not,” he said.
“With the uncertainty of what’s coming up, I’ve had a guts full. I’ll renovate the house, then make a decision about whether to put it on the market.”
As I indicated the other night – my own average rent at the present is $384 pw – a very similar number to the story above, and the properties are newer and in a more desirable suburb. Any thoughts on whether I should sell up and 'evict' a whole bunch of people from their homes?
Because honestly that's what's going through my mind. Our equity would do a whole lot better for us in Australia at the moment.
That's pathetic. I'm giving you real life facts and figures from my experience as a real world landlord for almost 20 yrs. If you don't understand how the business works then anything you say is going to amount to little more than pious, futile prattle.
I'm not asking for anyone's pity – how I choose to run my business is precisely my responsibility and no-one else's. But I am prepared to educate you in some basic numbers and their consequences.
As I mentioned the other night – one of the reasons why we moved to Australia 8yrs ago was because our mortage was indeed putting us under considerable pressure.
Essentially over the past 20yrs we've actually had to put money into the business to keep it afloat, and our tenants in their homes. We're now in the position of having shitloads of equity, but crap cash flow, and because I'm close to retiring that isn't something I can sustain anymore.
What would you do? Sell and evict – or hold on and hope the business environment doesn't continue to become more hostile?
I get where you're coming from, but from the perspective of an investor they will often be looking to add value, usually a significant renovation, and vacant possession will be important to them.
Essentially over the past 20yrs we've actually had to put money into the business to keep it afloat, and our tenants in their homes. We're now in the position of having shitloads of equity, but crap cash flow, and because I'm close to retiring that isn't something I can sustain anymore.
The trouble with this is that I've heard this description from not only landlords but farmers as well, except farmers don't like to flaunt their equity in public.
The total values of assets that can be realised is the figure that most people will focus on. If you have $10M in equity but moan your a**e off about pitiful cashflow, then you generally won't get a lot of sympathy.
I've made it clear I'm not asking for sympathy. I chose to get into this business and have stuck at it for 20 years now. That's my responsibility and no-one else's. All I'm doing here is explaining how the business works in order that people can make informed sense of these stories they read.
Rule No. 1 in all businesses is that cash flow is king. No matter how much shareholder funds you have, how much capital, stock, ring-fenced tax loss, forward orders or anything else – if you cannot meet this month's cash burn the business is bankrupt. And what I've explained here – overshared if you will – is that most residential rental businesses, like many NZ businesses (certainly those with substantial debt), are running on pretty thin cash flow margins. Or are being propped up by the owner's PAYE income.
Just as an extra data point – fixed costs used to run at about 20% of rental income, and here in Australia we can see this is still the case. By contrast in NZ they've risen to somewhere between 35 – 40% in recent years. And in the past most people could reasonably run the business themselves, but increasingly the environment has forced owners to use professional managers – and there's another 10% of cashflow gobbled up.
So even small extra costs imposed by new govt rules, or bad tenants, or even just letting the rent fall too far behind market because you felt sorry for a tenant, can have a big impact on the bottom line cashflow.
The total values of assets that can be realised is the figure that most people will focus on.
Equity means nothing unless I either sell or borrow more against it – and neither is a non-trivial decision. It's this background that helps decode what was going on with the original Wainui story above.
Stepping back, this is as you've pointed out, a wider theme with the whole NZ economy, too much has over the past three decades has tilted toward capital gain for profit, rather than cash flow. It's a structural flaw across many sectors that has distorted our decision-making and tends toward market failure. (I recall writing on this here at TS over a decade ago.)
It's especially chronic in agriculture. About that time we had looked at diversifying into a small horticultural business – and I recall one offer that was priced at over $2m for a business that barely turned over $160k. Utterly nuts – literally.
Which is why I was a strong supporter and promoter here of TOP's Comprehensive Capital Tax proposal. Not so much because I thought the party was a ripper – but because in my view it was a intelligently designed tax that would actually achieve what it was intended to do.
I was going to reply to your comment the other night about landlords creaming it but decided not to – it is sitting there half-finished. I think it is much better this way.
Why you would want to evict your tenants from your rentals is unclear to me except to free up equity. If you need (to do) that, then you can justify it, at least to yourself. It is your decision.
Don’t ask for business advice here, unless you really want/need it and intend to follow it. Ask a professional instead.
Don’t share your business wheeling and dealing here unless you want to cop the flack for it. Over-sharing carries many risks online for little gain/benefit even though your intention might be to provide a different PoV to guide/inform discussion and lift to a ‘higher plane’ than the usual ‘landlord-bashing’, which I respect and understand, but it doesn’t get you far, does it?
I could do similar things on discussion topics here but I’m not prepared to die in the ditch for those unless it is about a core value of mine – details are less important and there are other ways to get your point across without divulging too much personal information or history; arguments should be able to stand on their own legs of merit and persuasion.
Don’t ask for business advice here, unless you really want/need it and intend to follow it. Ask a professional instead.
In effect I am the professional here and I've been sharing information on how the residential rental business actually works. I've been doing this solely in the hope that some people here might stop treating their landlord as some spawn of the devil – and start focusing on the real reasons why the housing market in NZ has gotten into the mess it has.
But maybe you're right – the effort was doomed to be futile from the outset.
… and personal stories that rehumanize each other to each other.
…
There is no We if we see each other through partisan caricatures and don’t engage directly. When we hear each others’ stories, we know that in real life, good versus evil is rarely the truth, …
The other important tension that exists in this landlord/tenant discussion is for one party it is a business. The tax benefits, passive income etc, the leverage available…
The other party it is home, a place for family, a garden, pets, to love, laugh weep. A turangawaewae.
Failing to acknowledge the other view is where the argy barty begins.
Like Kiwi attitudes to land. One view is my property, my rights etc. The other is stewardship, a responsibility to pass it forward in better knick, to treat and see it as if it were alive. A strong spiritual bond.
Well Red, you've made tonnes of equity over the years.
Rent + tax preferences + equity increases = a reasonable rate of return.
You sound like you're in a steady place.
This is a leftie site so few will have patience to give non-Socialist advice.
But you are still of sufficiently sound mind that you can throw the dice another way than real estate.
In New Zealand, Victoria, or Queensland we need more people prepared to cash up and invest in fresh local growing business that's better for the whole economy.
Reading the article, he actually comes across as a pretty decent landlord. If Red Logix's numbers correct, then he has been giving her a very good deal for a long time.
Unfortunately, this is a consequence of the new rental laws. If he was intending to sell or do a major upgrade, I thought under the new rules he could still give the 90 day notice?
So it seems a bit like he 'panicked' and gave notice now when in fact if he decides to sell in a years time he could still give notice.
More rent controls will probably make more landlords sell which may be ok as possibly first home buyers would buy. But could be less rentals available. This tenant has been paying $380 per week up until recently which sounds extremely cheap, so he has been subsidizing her for some time now, so he sounds like a very reasonable landlord. He possibly could have given her notice several years ago and rented it out for far more if he had been greedy.
So you think the landlord is disorganized because for example, he decided to charge her $380 per week instead of the going market rate for the last few years? Well you will be pleased to know that there are many landlords out there that are well organized, and will charge as much as they can, and also raise the rent as often as possible. Many other people would refer to them as greedy rather than organized!
I guess the elephant in the room is that no doubt the tax payer will subsidize the next rental through accomodation supplements.
I can't help but think that a big part of the issue we have is that public funds are paid to enable tennants to meet rents far above their normal income allows.
The policy came from a good place but the unintended consequence of the scheme sas that it has in effect acted as a wealth transfer and helps fuel the house price increases.
Imagine if there had been no supplements from govt, the money required to pay the huge rents required to pay the equally huge mortgages/provide a return just wouldnt be there, ergo banks would have been far more reluctant to lend and price increases would have closer matched incomes.
The govt getting out of social housing and essentially contracting it out to the private sector was a huge mistake and one that is not able to be undone in a hurry. Nonetheless the only solution I can see is that we get stuck in on a massive state backed building program aimed at sucking air out of house price increases. Pouring more money in to help first home buyers or renters for that matter will not help.
Given that he's also pissy about the healthy homes regulations anf the july deadline for that, and that timeframe means it's likely that most of the bonds issued in the last 6 months will be for healthy homes, it's possible he was keeping up with the market rates.
Complete gratitude and respect for the work the MIQ workers. They should all get some sort of significant award….give them a knighthood, a ceremony like the oscars. True hero’s and heroines
Stiffing 'em on a goodly portion of the interest and commissions, too.
BREAKING: Bolivia has cancelled and returned the full sum of the US $346.7 Million IMF loan taken out by the coup regime, in rejection of IMF impositions on internal economic policy.
As of February 2021, the loan had already racked up $24.3 Million in interest and commissions. pic.twitter.com/4sPkAJRtsg
"Finally, the Central Bank of Bolivia will carry out the corresponding administrative, civil and criminal actions against all servants and former public servants responsible for participation in the process of negotiation, subscription and operation of financing with the IMF."
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Sunday 28th March 70 Rongomaiwahine descendants welcomed members of the Green Party’s Māori Caucus, Te Mātāwaka, Dr Elizabeth Kerekere and Teanau Tuiono, to discuss concerns about RocketLab’s operations on the Mahia Peninsula. ...
The new homes enabled through additional borrowing capacity for Kāinga Ora announced by Government today must have a Te Tiriti o Waitangi lens, having Māori take the lead in developing homes ...
We’ve announced the next steps in our plan to tackle New Zealand’s housing crisis, as we take urgent action to help more Kiwis into homes. Here, we answer your questions about our plan to improve housing in New Zealand. ...
We believe everyone deserves a warm, dry place to call home, which is why we’ve announced the next steps in our plan to tackle the housing crisis. The new policies we’ve announced build on the work we’ve already done to improve housing in New Zealand. Here’s a look at everything ...
Prime Minister Jacinda Ardern today expressed New Zealand’s sorrow at the death of His Royal Highness The Prince Philip, Duke of Edinburgh. “Our thoughts are with Her Majesty The Queen at this profoundly sad time. On behalf of the New Zealand people and the Government, I would like to express ...
We, the Home Affairs, Interior, Security and Immigration Ministers of Australia, Canada, New Zealand, the United Kingdom and the United States of America (the ‘Five Countries’) met via video conference on 7/8 April 2021, just over a year after the outbreak of the COVID-19 global pandemic. Guided by our shared ...
Arts, Culture and Heritage Minister Carmel Sepuloni has today announced the opening of the first round of Ngā Puninga Toi ā-Ahurea me ngā Kaupapa Cultural Installations and Events. “Creating jobs and helping the arts sector rebuild and recover continues to be a key part of the Government’s COVID-19 response,” Carmel ...
Interim legislation that is already proving to keep people safer from drugs will be made permanent, Health Minister Andrew Little says. Research by Victoria University, on behalf of the Ministry of Health, shows that the Government’s decision in December to make it legal for drug-checking services to operate at festivals ...
Public consultation launched on ways to improve behaviour and reduce damage Tighter rules proposed for either camping vehicles or camping locations Increased penalties proposed, such as $1,000 fines or vehicle confiscation Rental companies may be required to collect fines from campers who hire vehicles Public feedback is sought on proposals ...
The Government is continuing to support Air New Zealand while aviation markets stabilise and the world moves towards more normal border operations. The Crown loan facility made available to Air New Zealand in March 2020 has been extended to a debt facility of up to $1.5 billion (an additional $600 ...
Christchurch’s Richmond suburb will soon have a new community hub, following the gifting of a red-zoned property by Land Information New Zealand (LINZ) to the Richmond Community Gardens Trust. The Minister for Land Information, Damien O’Connor said that LINZ, on behalf of the Crown, will gift a Vogel Street house ...
Minister for Pacific Peoples Aupito William Sio says the reopening of the Ministry for Pacific Peoples’ (MPP) Languages Funding in 2021 will make sure there is a future for Pacific languages. “Language is the key to the wellbeing for Pacific people. It affirms our identity as Pasifika and ...
It is a pleasure to be here tonight. Thank you Cameron for the introduction and thank you for ERANZ for also hosting this event. Last week in fact, we had one of the largest gatherings in our sector, Downstream 2021. I have heard from my officials that the discussion on ...
Research, Science and Innovation Minister Megan Woods has today announced the 16 projects that will together get $3.9 million through the 2021 round of Te Pūnaha Hihiko: Vision Mātauranga Capability Fund, further strengthening the Government’s commitment to Māori knowledge in science and innovation. “We received 78 proposals - the highest ...
The Government is delivering on a key election commitment to tackle climate change, by banning new low and medium temperature coal-fired boilers and partnering with the private sector to help it transition away from fossil fuels. This is the first major announcement to follow the release of the Climate Commission’s ...
Six projects, collectively valued at over $70 million are delivering new schools, classrooms and refurbished buildings across Central Otago and are helping to ease the pressure of growing rolls in the area, says Education Minister Chris Hipkins. The National Education Growth Plan is making sure that sufficient capacity in the ...
Two more schools are now complete as part of the Christchurch Schools Rebuild Programme, with work about to get under way on another, says Education Minister Chris Hipkins. Te Ara Koropiko – West Spreydon School will welcome students to their new buildings for the start of Term 2. The newly ...
The Government is acting to ensure decisions on responding to the next phase of the COVID-19 pandemic are informed by the best available scientific evidence and strategic public health advice. “New Zealand has worked towards an elimination strategy which has been successful in keeping our people safe and our economy ...
Six Māori scholars have been awarded Ngārimu VC and the 28th (Māori) Battalion Memorial scholarships for 2021, Associate Education Minister and Ngārimu Board Chair, Kelvin Davis announced today. The prestigious Manakura Award was also presented for the first time since 2018. “These awards are a tribute to the heroes of the 28th ...
New Zealand’s aerospace industry is getting a boost through the German Aerospace Centre (DLR), to grow the capability of the sector and potentially lead to joint space missions, Research, Science and Innovation Minister Megan Woods has announced. 12 New Zealand organisations have been chosen to work with world-leading experts at ...
The Government is backing more initiatives to boost New Zealand’s food and fibre sector workforce, Agriculture Minister Damien O’Connor announced today. “The Government and the food and fibres sector have been working hard to fill critical workforce needs. We've committed to getting 10,000 more Kiwis into the sector over the ...
Minister for Social Development and Employment Carmel Sepuloni has welcomed the first reading of the Social Security (Subsequent Child Policy Removal) Amendment Bill in the House this evening. “Tonight’s first reading is another step on the way to removing excessive sanctions and obligations for people receiving a Main Benefit,” says ...
The Government has taken a significant step towards delivering on its commitment to improve the legislation around mental health as recommended by He Ara Oranga – the report of the Government Inquiry into Mental Health and Addiction, Health Minister Andrew Little says. The Mental Health (Compulsory Assessment and Treatment) Amendment ...
Local Government Minister Nanaia Mahuta has welcomed the Local Government (Rating of Whenua Māori) Amendment Bill passing its third reading today. “After nearly 100 years of a system that was not fit for Māori and did not reflect the partnership we have come to expect between Māori and the Crown, ...
New Zealand’s successful management of COVID means quarantine-free travel between New Zealand and Australia will start on Monday 19 April, Prime Minister Jacinda Ardern announced today. Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins confirmed the conditions for starting to open up quarantine free travel with Australia have ...
Minister for Treaty of Waitangi Negotiations Andrew Little welcomed ngā uri o Ngāti Hinerangi to Parliament today to witness the third reading of their Treaty settlement legislation, the Ngāti Hinerangi Claims Settlement Bill. “I want to acknowledge ngā uri o Ngāti Hinerangi and the Crown negotiations teams for working tirelessly ...
Minister of Police Poto Williams has announced the members of the Ministers Arms Advisory Group, established to ensure balanced advice to Government on firearms that is independent of Police. “The Ministers Arms Advisory Group is an important part of delivering on the Government’s commitment to ensure we maintain the balance ...
Kiri Allan, Minister of Conservation and Emergency Management will undertake a leave of absence while she undergoes medical treatment for cervical cancer, Prime Minister Jacinda Ardern announced today. “I consider Kiri not just a colleague, but a friend. This news has been devastating. But I also know that Kiri is ...
Excellent progress has been made at the new prison development at Waikeria, which will boost mental health services and improve rehabilitation opportunities for people in prison, Corrections Minister Kelvin Davis says. Kelvin Davis was onsite at the new build to meet with staff and see the construction first-hand, following a ...
To reduce the trauma of road crashes caused by drug impaired drivers, an Independent Expert Panel on Drug Driving has proposed criminal limits and blood infringement thresholds for 25 impairing drugs, Minister of Police Poto Williams and Transport Minister Michael Wood announced today. The Land Transport (Drug Driving) Amendment Bill ...
Temporary COVID-19 immigration powers will be extended to May 2023, providing continued flexibility to support migrants, manage the border, and help industries facing labour shortages, Immigration Minister Kris Faafoi announced today. “Over the past year, we have had to make rapid decisions to vary visa conditions, extend expiry dates, and ...
Temporary COVID-19 immigration powers will be extended to May 2023, providing continued flexibility to support migrants, manage the border, and help industries facing labour shortages, Immigration Minister Kris Faafoi announced today. “Over the past year, we have had to make rapid decisions to vary visa conditions, extend expiry dates, and ...
The Government is expanding its Pregnancy and Parenting Programme so more women and whānau can access specialist support to minimise harm from alcohol and other drugs, Health Minister Andrew Little says. “We know these supports help improve wellbeing and have helped to reduce addiction, reduced risk for children, and helped ...
*** Please check against delivery *** It’s an honour to be here in Rūātoki today, a rohe with such a proud and dynamic history of resilience, excellence and mana. Tūhoe moumou kai, moumou taonga, moumou tangata ki te pō. The Ahuwhenua Trophy competition is the legacy of a seed planted ...
The economic recovery from COVID-19 continues to be reflected in the Government’s books, which are again better than expected. The Crown accounts for the eight months to the end of February 2021 showed both OBEGAL and the operating balance remain better than forecast in the Half Year Economic and Fiscal ...
Sport and Recreation Minister Grant Robertson and Economic Development Minister Stuart Nash have welcomed confirmation New Zealand will host the opening ceremony and match, and one of the semi-finals, of the FIFA Women’s World Cup in 2023. Grant Robertson says matches will be held in Auckland, Hamilton, Wellington and Dunedin, ...
Changes to the minimum wage, main benefit levels and superannuation rates that come into force today will raise the incomes for around 1.4 million New Zealanders. “This Government is committed to raising the incomes for all New Zealanders as part of laying the foundations for a better future,” Minister for ...
The New Dunedin Hospital – Whakatuputupu has been approved for consideration under the fast track consenting legislation. The decision by Environment Minister David Parker signifies the importance of the project to the health of the people of Otago-Southland and to the economy of the region. “This project ticks all the ...
Transport Minister Michael Wood is getting Auckland light rail back on track with the announcement of an establishment unit to progress this important city-shaping project and engage with Aucklanders. Michael Wood said the previous process didn’t involve Aucklanders enough. ...
The Minister of Tourism is to re-open a government fund that supports councils to build infrastructure for visitors, with a specific focus on regions hardest hit by the loss of overseas tourists. “Round Five of the Tourism Infrastructure Fund will open for applications next month,” said Stuart Nash. It ...
A Governance Group of eight experts has been appointed to lead the next phase of work on a potential new public media entity, Minister for Broadcasting and Media Kris Faafoi announced today. “The Governance Group will oversee the development of a business case to consider the viability of a new ...
Minister for Māori Development Willie Jackson today helped launch a new fund to provide direct financial support for tamariki and rangatahi Māori throughout the South Island who is experiencing financial hardship and missing out on physical activity opportunities. “Through Te Kīwai Fund, we can offer more opportunities for Māori to ...
Six whānau in Pāpāmoa receive the keys to their brand-new rental homes today, in stage four of a papakāinga project providing safe and affordable housing in the regions. Minister for Māori Development, Willie Jackson congratulates Mangatawa Pāpāmoa Blocks Incorporated on the opening of three affordable rentals and three social housing ...
Kia ora tatou. It’s great to be here today and to get a conversation going on the disarmament issues of greatest interest to you, and to the Government. I’m thrilled to be standing here as a dedicated Minister for Disarmament and Arms Control, which I hope reinforces for you all ...
Source: The Conversation (Au and NZ) – By Brendan Coates, Program Director, Household Finances, Grattan Institute The idea that young Australians should be able to dip into their super to help buy their first home keeps going round and round. The most recent iteration put forward by the Coalition’s Tim ...
This week MP for Waiariki, Rawiri Waititi was invited to attend a community hui at Hurungaterangi Marae in Ngapuna, Rotorua - where locals spoke of the physical and psychological suffering they are experiencing, caused by faulty sewerage plant ...
Dunedin writer Victor resumes his Sunday odes to public figures. Today: Mike HoskingThe Hosky and Cindy Show I want you on my show. And then I do not. I’ve fired you again. You’ve had your shot. You cancelled yourself. You’re on the shelf. But now ...
Sex is life in acclaimed Waikato writer Tracey Slaughter’s latest short story collection. Of course it’s there in Slaughter’s stories about affairs. In those pieces sex thumps and pants and dominates, it goes so hard it knocks grit off the ceiling and onto the bed, it sets fire to a marriage, ...
Bathroom, kitchen, sitting room, bookshelves, friends, memories – Linda Burgess ponders the decluttering of life. Made possible thanks to the support of Creative New ZealandOriginal illustrations by Gary Venn Go to the second drawer down in your bathroom. Open it. In it are countless small bottles of shampoo and skin cream ...
Analysis by Bryce Edwards. Political scientist, Dr Bryce Edwards. Judith Collins’ National Party leadership is under more scrutiny, with increased talk in the media of her being replaced by brand new MP Christopher Luxon. For many commentators it’s just a question of “when” rather than “if” Collins is replaced. While ...
Kiwi Seafarers continue to feel shortchanged by the New Zealand Government. On the 1st of December 2020 the UN general Assembly called for all Seafarers to be designated as Key Workers . International Maritime Organization (IMO) Secretary-General Kitack ...
Revelations that foreign affairs officials have approved the sale of military equipment to a host of human-rights-abusing countries, including Israel, is an outrage. In recent years foreign affairs has been dominated by trade priorities with concerns ...
Source: The Conversation (Au and NZ) – By Simon Quilty, Senior Staff Specialist, Alice Springs Hospital. Honorary, Australian National University A sizeable chunk of Northern Territory’s doctors are thinking about leaving the territory because of climate change, our new research shows. Our study, just published in The Lancet Planetary Health, ...
With the trans-Tasman bubble on the way, Auckland Airport has undertaken the unique challenge of splitting one airport into two. Matthew Scott went along to see what the parallel worlds look like. Birdsong is piped into an empty hallway. A message to nobody plays on the intercom. Luxury stores ...
The Royal New Zealand College of General Practitioners is today marking the death of their patron, His Royal Highness The Prince Philip, Duke of Edinburgh. Prince Phillip had been patron of the College for 47 years, since he formally handed over ...
"People are walking up the hill, as we walk down, with their hands on their hips, their faces red, or looking directly at the path, not game enough to look up to see how far they’ve got to go": a portrait of a relationship set in a Dunedin landmark, by ...
It was with great sadness that I received notification from Buckingham Palace that His Royal Highness Prince Philip has died at Windsor Castle. The death of His Royal Highness is a great loss to Her Majesty the Queen, the members of the Royal Family ...
The Royal Commonwealth Society expresses its deepest condolences on the passing of His Royal Highness The Prince Philip, Duke of Edinburgh. The Royal Commonwealth Society expresses its deepest sympathy and condolences to our Patron, Her Majesty ...
9 April 2021 Monarchy New Zealand today expresses its sadness at the passing of Queen of New Zealand’s consort, His Royal Highness The Prince Philip Prince Philip died aged 99. Prince Philip is the longest-serving consort in New Zealand’s history. ...
"On behalf of ACT, I would like to express sincere condolences to Her Majesty the Queen and the Royal Family. "Prince Philip will be remembered for his long dedication to public service. He has selflessly contributed to a long period of stability ...
WATCH: Silver Ferns shooter Monica Falkner talks about the pain of losing her dad, then fighting back from injury in part three of Pure As. Monica Falkner knows her dad, David, would have shed tears watching her finally play for the Silver Ferns against England last year - after five harrowing ...
Critic's Chair: Guy Somerset salutes Losing Alice, a compelling eight-part psychological thriller showing on Apple TV+ Who doesn’t like a compliment, a bit of flattery? But, unless you happen to be Donald J Trump, when the flattery spills over into sycophancy you tend to get suspicious. Alice Ginor (Ayelet Zurer) ...
Rampant house prices mean saving money for a deposit on a home is becoming increasingly fruitless. But just how long does it take in today’s market compared to a few years ago?Of all the essential and obscure pecuniary concepts that we learn throughout life, saving is one of those things ...
From the trauma of loss, Jean Sergent built a stage production that offers an invitation to others to embrace the radical possibility that things can get better.I’ve always been interested in death and dying – not the mechanics of it, but the social conditions. How death is prepared for, announced, ...
For almost three years, Onzo’s black and yellow fleet littered New Zealand’s streets with an accessible and affordable two-wheel option. Then it vanished, leaving behind a trail of angry and perplexed customers. Auckland’s first dockless bike-share scheme has disappeared in much the same way it first arrived – quietly, mysteriously and ...
Ardent disciple of mountain, valley, river and sky, Brian Turner is one of New Zealand’s most celebrated poets. Michelle Langstone travelled to his central Otago home to meet and hear the man who commands the language of the landscape.The landscape starts speaking to you from the turnoff on to the ...
George Driver heads to the end of the Earth to spend his birthday alone in New Zealand’s forgotten city.“Don’t go to Invercargill.”I’d spent most of my life a couple of hours’ drive from Invercargill. But every time I considered going I was confronted with this advice: “Don’t go, it’s not ...
Source: The Conversation (Au and NZ) – By Luke Jeffrey, Postdoctoral Research Fellow, Southern Cross University Trees are the Earth’s lungs – it’s well understood they drawdown and lock up vast amounts of carbon dioxide from the atmosphere. But emerging research is showing trees can also emit methane, and it’s ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra Last week, people were falling over themselves to get vaccination appointments and had to be told, by their doctors and their government, to be patient. Patience is still needed — indeed, more than ever — ...
Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra A week ago, people were falling over themselves to get vaccination appointments and had to be told, by their doctors and their government, to be patient. Patience is still needed — indeed, more than ever ...
Source: The Conversation (Au and NZ) – By Hassan Vally, Associate Professor, La Trobe University Last night, the federal government announced substantially revised plans for the use of the AstraZeneca vaccine in Australia. Due to concerns about the vaccine’s possible links to a rare blood-clotting disorder, and following advice from ...
Source: The Conversation (Au and NZ) – By Katherine Aigner, PhD candidate Centre for Aboriginal Economic Policy, Australian National University On Saturday at the Adelaide Festival there will a public showing of Australian Atomic Confessions, a documentary I co-directed about the tragic and long-lasting effects of the atomic weapons testing ...
The Human Rights Commission is calling for more information on the justification behind the temporary suspension of travel from India. “Temporarily banning New Zealanders from returning home from India is a significant limitation on their freedom ...
The Chinese developers who caused an environmental disaster on an idyllic Fijian island have been found guilty on two counts of undertaking unauthorised developments in relation to a planned 370-bure resort and casino. The Suva Magistrates Court delivered its verdict against Freesoul Real Estate today, after the ruling date was pushed out twice with no ...
Source: The Conversation (Au and NZ) – By Adrian Esterman, Professor of Biostatistics and Epidemiology, University of South Australia Australia’s vaccine rollout is in chaos. The news last night the AstraZeneca vaccine, the only one Australia has guaranteed supply of, would not be recommended for people under 50 due to ...
Source: The Conversation (Au and NZ) – By Jan Golembiewski, Researcher, University of Technology Sydney The Royal Commission into Aged Care left organisations that provide housing for aged care wondering how they will put its recommendations into effect. Most of these recommendations relate to the models of care and levels ...
Our Beehive bulletin The Government’s ban on new low and medium temperature coal-fired boilers and partnering with the private sector to help it transition away from fossil fuels perhaps ranked as the most important Beehive announcement yesterday. It was the first major announcement to follow the release of the Climate ...
Source: The Conversation (Au and NZ) – By Nikki Turner, Professor, University of Auckland From next week, unvaccinated staff working at managed isolation and quarantine (MIQ) facilities will be moved to low-risk jobs, following a case of a worker who missed vaccination appointments and then tested positive for COVID-19. The ...
The proposed Regulatory Standards Bill has been welcomed by Energy Resources Aotearoa as a useful tool in developing better public policy. The Bill was drawn from the members ballot at Parliament on Thursday. "This should help deliver better policy ...
Division and social discord has undermined Covid-19 responses in other western nations. We must do everything we can to prevent that taking seed here, writes Green Party MP Golriz Ghahraman. The Ministry of Health has done a stellar job in keeping us all safe. I have no doubt that the latest ...
The only published and available best-selling indie book chart in New Zealand is the top 10 sales list recorded every week at Unity Books’ stores in High St, Auckland, and Willis St, Wellington.AUCKLAND1 The Mirror Book by Charlotte Grimshaw (Vintage, $38)Excerpt from Emma Espiner’s fantastic Spinoff review of this fantastic ...
Eight Wellington City Councillors – given the critical constitutional choice of Treaty partnership or democracy – yesterday voted in favour of further undermining the council’s democratic election and decision-making structures by granting voting rights to the representatives appointed by Maori tribes to sit on council committees. Only six councillors voted ...
Mike Hosking did, didn’t, does, doesn’t, will and won’t want to have the PM on his radio show, while simultaneously accusing the New Zealand media of being asleep at the wheel, writes James Elliott It was reported in the news this week that the concentration of carbon dioxide in the earth’s atmosphere ...
Green Party MP Ricardo Menendez March’s labelling of police dogs as being “attack dogs” is as out of touch as it is insulting to our entire police force, says Darroch Ball co-leader of Sensible Sentencing Trust. “A bill seeking to increase the maximum ...
Source: The Conversation (Au and NZ) – By Benjamin Reilly, Professor, University of Western Australia Could a change be afoot in the way Australians vote in federal elections? The Coalition government may be eyeing a shift to optional preferential voting — as used in New South Wales — which allows ...
The New Zealand Taxpayers’ Union is urging action in the case against New Zealand-born Paul Mora, who allegedly fraudulently claimed €113 million in German tax credits. Paul Mora is wanted by Interpol in relation to the Cum-Ex tax affair after failing ...
An almost forgotten moment in our history, brought into the spotlight by a gutsy new theatre show, reveals uncomfortable truths about the history of race relations in Aotearoa.In a country that has until very recently avoided teaching its own history in schools, it’s perhaps unsurprising that a confrontation between university ...
A new poem from Ōtautahi-based poet Claudia Jardine.Ode to Mons Pubisfatty tissue, edifice of overturesjoints, ligaments, bones, cartilagedark turns to stars when I think aboutthe buttress of pubic symphysisyes! paths of faery lights, yes! brambly wadsyes! tracks of calligraphic gastropodsyes! tender grasses, yes! boxed bedsclippings from a crooner’s greenhousetopiary of ...
Prime Minister Jacinda Ardern is speaking to media a day after announcing a suspension of travel from India because of high numbers of Covid-19 cases. ...
The country's largest education union, NZEI Te Riu Roa, is backing the school students striking for climate action across the country today. NZEI Te Riu Roa President Liam Rutherford says the organisation "fully supports tamariki and educators who ...
At its core, Aotearoa New Zealand’s housing crisis is not about houses, but about the way we think about wealth, community, ourselves and our neighbours, the economy, education system, and much more. The only solutions to this problem involve everyone. ...
One year ago today managed isolation became mandatory for travellers arriving into New Zealand. The joint heads of Managed Isolation and Quarantine, Megan Main and Brigadier Jim Bliss, have paid tribute to the efforts of those who’ve contributed ...
Public feedback is now invited to improve freedom camping in New Zealand. To support the public consultation, the first of a series of public meetings throughout Aotearoa is being held at the Ellen Melville Centre in central Auckland from 2pm – 4pm on ...
Editor’s Note: Here below is a list of the main issues currently under discussion in New Zealand and links to media coverage. Click here to subscribe to Bryce Edwards’ Political Roundup and New Zealand Politics Daily. Today’s contentCovid: India travel ban Luke Malpass (Stuff): Is the the ‘temporary’ India travel ban proportional ...
Hospitals should be a place of welcome and healing. But for gender-diverse people and their families, going to the hospital can feel like walking into a linguistic minefield. While a child was being treated at a New Zealand hospital last month, a health professional kept using the wrong gender pronouns ...
Local Government New Zealand welcomes the long overdue review of self-contained freedom camping rules announced by Tourism Minister Stuart Nash today. “Many councils across the country welcome the contribution freedom campers make to local economies,” ...
A new just transition plan released today by Climate Justice Taranaki calls for a major shift towards a domestic economy and away from exports and imports in a phase out of fossil fuels by 2030. The document focuses on Aotearoa’s three main greenhouse ...
Today Renters United launches their campaign for #RentControlsNow. This comes just weeks after the Government announced it’s housing package, a package that Renters United said “fell short of delivering any change to over one third of New Zealanders ...
Three… two… one… blast-off! They’re an incredible sight, but what’s the impact of rocket launches on the environment? Mirjam Guesgen investigates.Commercial space flights, moon colonies and missions to Mars are all exciting prospects. Some of them are even being helped along by New Zealand companies. Rocket launches are loud, ground-shaking, smoggy ...
A government committed to fairness and responsible law-making should not allow two bills recently drawn from the Member’s Ballot to sink without debate, Federated Farmers says. "At the very least the Regulatory Standards Bill and the Income ...
Source: The Conversation (Au and NZ) – By Ritesh Chugh, Senior Lecturer – Information Systems and Analysis, CQUniversity Australia If you’ve ever gotten your phone wet in the rain, dropped it in water or spilt liquid over it, you’re not alone. One study suggests 25% of smartphone users have damaged ...
Source: The Conversation (Au and NZ) – By Michael Macaulay, Professor of Public Administration, Te Herenga Waka — Victoria University of Wellington Following a number of high-profile inquiries into workplace misconduct — including within parliament, the police and fire service — it became clear people who report such behaviour in ...
Source: The Conversation (Au and NZ) – By Holly Seale, Associate professor, UNSW This year is shaping up as the year of the COVID-19 vaccination photo, with the pandemic providing seemingly endless photo opportunities. We’ve seen stock photos of people getting vaccinated in news reports, images of the prime minister ...
Source: The Conversation (Au and NZ) – By Lucinda McKnight, Senior Lecturer in Pedagogy and Curriculum, Deakin University Robots are writing more of what we read on the internet. And artificial intelligence (AI) writing tools are becoming freely available for anyone, including students, to use. In a period of rapid ...
Source: The Conversation (Au and NZ) – By Richard Holden, Professor of Economics, UNSW House prices are back in the news, and out of control. In the past three months the median house price in Sydney has risen by more than A$100,000 to A$1.12 million. Sydney’s median residential property price ...
Welcome to The Spinoff’s live updates for April 9, bringing you the latest news throughout the day. For one day only, Stewart is off, so to get in touch email Bulletin editor Alex Braae at thebulletin@thespinoff.co.nz.The Spinoff can’t exist without our members. If you want to help us stay ...
Good morning and welcome to The Bulletin. In today’s edition: Four key questions for the climate strikers, unvaccinated border worker tests positive, and big implications of ban on arrivals from India.We’re going to start today’s Bulletin with something different – a short interview. Because today teenagers across the country will once ...
The climate strikes are finally back! It’s been a turbulent year-and-a-half since our last strike, with two cancellations due to COVID-19, but finally we’re back with our fourth Intergenerational Strike 4 Climate. Christina Sieberhagen, 15, is ...
What regional development could look like….I hope the PGF is backing these types of initiatives in spades
https://www.rnz.co.nz/national/programmes/countrylife/audio/2018784336/miro-bringing-jobs-home
The man who gave the world the term "feminazi" is dead at 70.
How those supermarket 'collectable' campaigns work. https://www.stuff.co.nz/business/124260714/the-summer-of-smeg–why-new-worlds-knife-promotion-worked-so-well
Marketing 101, the two NZ supermarket chains are very good at it.
Quite a chunk of the Australian wine industry has simply collapsed due to Chinese trade retaliation for alleged price dumping.
https://edition.cnn.com/2021/02/16/business/australia-china-wine-tariffs-dst-intl-hnk/index.html
And yet the price of Penfolds hasn't dropped here. I think it should.
You know it is not quite like the international oil market but

Maybe people should consider not using nature to make money from the unreliable global economy.
Love to see the carbon footprint of shipping wine across the planet too.
It's almost like people don't understand there's an massive crisis on the horizon.
Ad-so Australia takes a moral stand on human rights issues in China (while NZ keeps sucking up to China) and all you can see is a chance for cheap wine from Oz because China has retaliated.
Some moral compass you have there Ad.
The natural endpoint of chardonnay socialism was their discovery of the Barossa Valley reds.
This isn't hard – the world is waking up to the fact that Xi Xinping's regime is acting like an enemy not a trade partner.
Once this has sunk in – everyone will start to work out ways of decoupling existing trade and supply chains out of the CCP's reach – ASAP.
Aussie wine producers have been done a favour here with an advanced heads up.
Wait until China controls the international monetary system and endlessly imposes illegal sanctions like the US, instead of deciding who it will trade with and when.
More likely to go the other way though isn't it.
Say you were to discover that a majority of prices in the economy are set via some form of cost + markup pricing, and not supply and demand. Would you still expect Penfolds to give you their wine at a discount?
http://socialdemocracy21stcentury.blogspot.com/2014/05/mark-up-pricing-in-20-nations-and.html
That would, I hope, depend on a completely unregulated market free from any other constraint other than my perfect knowledge of the market, a Licensing Trust able to attend to me needs without thought for its internal mass buyers, the market's perfect knowledge of Penfold's, and and zero impact from any government or regulation, anywhere.
That would just be so sweet.
@ Sacha @ 3:
Yes, I read that one too.
I reckon it is no different with the stories we weave and the necessary narratives to tell and develop these stories. The story must be complete, an integrated self-consistent set of facts and factoids. Some people will go to great lengths to make sure no pieces are missing and sometimes people will force a piece into the whole/hole even though it doesn’t fit neatly.
Stories? This is a must-read (so, read it! 🙂
https://charleseisenstein.org/essays/to-reason-with-a-madman/
A tantalising title 😉
I just might read it.
If forests could or should be considered and/or are indeed superorganisms, why would this stop at the DoC signpost at the boundary? Is it just the flora or does it also include the fauna? If yes, what does that mean to the boundary? What does rain and wind mean for the boundary, and streams and rivers? Is communication bi-directional, does it travel upstream and upwind? I think there’s a good story in there, about the terror in the forest and the Dark Woods.
https://www.stuff.co.nz/environment/124256600/the-mysterious-existence-of-a-leafless-kauri-stump-kept-alive-by-its-forest-neighbours
People worry about schools closed or not closed or not closed long enough due to Covid-19.
Maybe they should worry more about this instead:
https://www.stuff.co.nz/environment/climate-news/124183902/rising-tides-put-up-to-94-schools-at-risk-of-flooding-and-closures
Yes, I know, very mischievous of me to phrase it as a binary but when in Rome …
They were going to die anyway …
Another Covid-19 myth busted.
https://www.newshub.co.nz/home/world/2021/02/coronavirus-the-average-covid-19-victim-had-16-years-of-life-left-in-them-study-finds.html
What a lovely bloke landlord Andrew McKenzie is.
After recently putting up the rent 14%, he then kicks out a mother and her son who has learning disabilities on the eve of a law change to protect tenants because "he deciding what to do".
He says it is business first, but then other landlords say theirs is an important public service, first.
Who to believe, or should we believe none of them?
https://www.stuff.co.nz/life-style/homed/housing-affordability/124297655/rental-law-change-casualties-evicted-tenants-fear-homelessness
A quick search on the govt tenancy website shows the range of rents for 3bed homes in Wainuiomata is $500 – 550pw.
Increasing the rent to $430 pw shows that McKenzie had let the rent fall well behind market. It never does anyone any favours in the long run – and I can well understand the dismay of the mother who not only has to try and find a new home in a very tight market, but faces a rental jump in the order of $100pw at the same time.
A 3 bed home in Wainui is probably worth north of $700k if he'd been getting a rent of $380pw – gross income about $19.7k pa – that's a yield of under 3%. His net in the pocket after fixed costs, mortgage and tax was almost certainly less than $5kpa.
No wonder he wants to sell.
Apparently, he has not yet decided what to do with the property except to ‘renovate’ it AKA“a paint and a tidy up”.
Another ghost house.
By evicting when he did he avoided having to sell or move in. The new law requires him to do this.
Looks like he wants to sit on an empty house and enjoy capital gain. Nikki And Cole Prier don’t come into it for landlords.
At least it will have a nice fresh lick of paint and be tidied up. That’s all aspiring new tenants wish for nowadays and they won’t mind paying the price because beggars can’t be choosers.
Yup, the CG is already locked in.
Nikki And Cole Prier don’t come into it for landlords.
Given how far behind the market their rent had fallen – I'll bet you that their unfortunate personal position actually did 'come into it' for McKenzie.
We've got one older couple who've been with us for over a decade and they pay way below market – but we deliberately choose to carry them because they both contribute to their community magnificently.
But as I said above – in the long run it may not be doing either party any favours.
Make what you will of this:
As I indicated the other night – my own average rent at the present is $384 pw – a very similar number to the story above, and the properties are newer and in a more desirable suburb. Any thoughts on whether I should sell up and 'evict' a whole bunch of people from their homes?
Because honestly that's what's going through my mind. Our equity would do a whole lot better for us in Australia at the moment.
Will someone not think of the poor landlords!
That's pathetic. I'm giving you real life facts and figures from my experience as a real world landlord for almost 20 yrs. If you don't understand how the business works then anything you say is going to amount to little more than pious, futile prattle.
I'm not asking for anyone's pity – how I choose to run my business is precisely my responsibility and no-one else's. But I am prepared to educate you in some basic numbers and their consequences.
Stop with the ridiculous claim you are under so much pressure then.
And your real life facts and figures is simply virtue signalling.
Why do you think this is a 'ridiculous claim'?
As I mentioned the other night – one of the reasons why we moved to Australia 8yrs ago was because our mortage was indeed putting us under considerable pressure.
Essentially over the past 20yrs we've actually had to put money into the business to keep it afloat, and our tenants in their homes. We're now in the position of having shitloads of equity, but crap cash flow, and because I'm close to retiring that isn't something I can sustain anymore.
What would you do? Sell and evict – or hold on and hope the business environment doesn't continue to become more hostile?
Sell and evict – or hold on and hope
When the legal balance between landlords and tenants is about right, selling with a sitting tenant will be a plus, not a minus.
I get where you're coming from, but from the perspective of an investor they will often be looking to add value, usually a significant renovation, and vacant possession will be important to them.
And if the new owner wants to live in it ….
The trouble with this is that I've heard this description from not only landlords but farmers as well, except farmers don't like to flaunt their equity in public.
The total values of assets that can be realised is the figure that most people will focus on. If you have $10M in equity but moan your a**e off about pitiful cashflow, then you generally won't get a lot of sympathy.
I've made it clear I'm not asking for sympathy. I chose to get into this business and have stuck at it for 20 years now. That's my responsibility and no-one else's. All I'm doing here is explaining how the business works in order that people can make informed sense of these stories they read.
Rule No. 1 in all businesses is that cash flow is king. No matter how much shareholder funds you have, how much capital, stock, ring-fenced tax loss, forward orders or anything else – if you cannot meet this month's cash burn the business is bankrupt. And what I've explained here – overshared if you will – is that most residential rental businesses, like many NZ businesses (certainly those with substantial debt), are running on pretty thin cash flow margins. Or are being propped up by the owner's PAYE income.
Just as an extra data point – fixed costs used to run at about 20% of rental income, and here in Australia we can see this is still the case. By contrast in NZ they've risen to somewhere between 35 – 40% in recent years. And in the past most people could reasonably run the business themselves, but increasingly the environment has forced owners to use professional managers – and there's another 10% of cashflow gobbled up.
So even small extra costs imposed by new govt rules, or bad tenants, or even just letting the rent fall too far behind market because you felt sorry for a tenant, can have a big impact on the bottom line cashflow.
The total values of assets that can be realised is the figure that most people will focus on.
Equity means nothing unless I either sell or borrow more against it – and neither is a non-trivial decision. It's this background that helps decode what was going on with the original Wainui story above.
Stepping back, this is as you've pointed out, a wider theme with the whole NZ economy, too much has over the past three decades has tilted toward capital gain for profit, rather than cash flow. It's a structural flaw across many sectors that has distorted our decision-making and tends toward market failure. (I recall writing on this here at TS over a decade ago.)
It's especially chronic in agriculture. About that time we had looked at diversifying into a small horticultural business – and I recall one offer that was priced at over $2m for a business that barely turned over $160k. Utterly nuts – literally.
Which is why I was a strong supporter and promoter here of TOP's Comprehensive Capital Tax proposal. Not so much because I thought the party was a ripper – but because in my view it was a intelligently designed tax that would actually achieve what it was intended to do.
I was going to reply to your comment the other night about landlords creaming it but decided not to – it is sitting there half-finished. I think it is much better this way.
Why you would want to evict your tenants from your rentals is unclear to me except to free up equity. If you need (to do) that, then you can justify it, at least to yourself. It is your decision.
Don’t ask for business advice here, unless you really want/need it and intend to follow it. Ask a professional instead.
Don’t share your business wheeling and dealing here unless you want to cop the flack for it. Over-sharing carries many risks online for little gain/benefit even though your intention might be to provide a different PoV to guide/inform discussion and lift to a ‘higher plane’ than the usual ‘landlord-bashing’, which I respect and understand, but it doesn’t get you far, does it?
I could do similar things on discussion topics here but I’m not prepared to die in the ditch for those unless it is about a core value of mine – details are less important and there are other ways to get your point across without divulging too much personal information or history; arguments should be able to stand on their own legs of merit and persuasion.
These are my genuine well-meant thoughts for you.
Make of it what you will.
Bye
Fair enough.
Don’t ask for business advice here, unless you really want/need it and intend to follow it. Ask a professional instead.
In effect I am the professional here and I've been sharing information on how the residential rental business actually works. I've been doing this solely in the hope that some people here might stop treating their landlord as some spawn of the devil – and start focusing on the real reasons why the housing market in NZ has gotten into the mess it has.
But maybe you're right – the effort was doomed to be futile from the outset.
HT to Robert Guyton.
The other important tension that exists in this landlord/tenant discussion is for one party it is a business. The tax benefits, passive income etc, the leverage available…
The other party it is home, a place for family, a garden, pets, to love, laugh weep. A turangawaewae.
Failing to acknowledge the other view is where the argy barty begins.
Like Kiwi attitudes to land. One view is my property, my rights etc. The other is stewardship, a responsibility to pass it forward in better knick, to treat and see it as if it were alive. A strong spiritual bond.
Well Red, you've made tonnes of equity over the years.
Rent + tax preferences + equity increases = a reasonable rate of return.
You sound like you're in a steady place.
This is a leftie site so few will have patience to give non-Socialist advice.
But you are still of sufficiently sound mind that you can throw the dice another way than real estate.
In New Zealand, Victoria, or Queensland we need more people prepared to cash up and invest in fresh local growing business that's better for the whole economy.
You've done good. Do even better.
Reading the article, he actually comes across as a pretty decent landlord. If Red Logix's numbers correct, then he has been giving her a very good deal for a long time.
Unfortunately, this is a consequence of the new rental laws. If he was intending to sell or do a major upgrade, I thought under the new rules he could still give the 90 day notice?
So it seems a bit like he 'panicked' and gave notice now when in fact if he decides to sell in a years time he could still give notice.
More reason for rent controls then. More regulation around the cowboy residential industry would give surety and guidance to both tenant and landlord.
More rent controls will probably make more landlords sell which may be ok as possibly first home buyers would buy. But could be less rentals available. This tenant has been paying $380 per week up until recently which sounds extremely cheap, so he has been subsidizing her for some time now, so he sounds like a very reasonable landlord. He possibly could have given her notice several years ago and rented it out for far more if he had been greedy.
Just a hunch but I don't think he's reasonable at all, I think he's disorganised.
[RL: Deleted. Damaging speculation that puts the site at risk. Be more careful in future.]
So you think the landlord is disorganized because for example, he decided to charge her $380 per week instead of the going market rate for the last few years? Well you will be pleased to know that there are many landlords out there that are well organized, and will charge as much as they can, and also raise the rent as often as possible. Many other people would refer to them as greedy rather than organized!
Lol. RedLogix flexing his muscles from Brisbane.
I guess the elephant in the room is that no doubt the tax payer will subsidize the next rental through accomodation supplements.
I can't help but think that a big part of the issue we have is that public funds are paid to enable tennants to meet rents far above their normal income allows.
The policy came from a good place but the unintended consequence of the scheme sas that it has in effect acted as a wealth transfer and helps fuel the house price increases.
Imagine if there had been no supplements from govt, the money required to pay the huge rents required to pay the equally huge mortgages/provide a return just wouldnt be there, ergo banks would have been far more reluctant to lend and price increases would have closer matched incomes.
The govt getting out of social housing and essentially contracting it out to the private sector was a huge mistake and one that is not able to be undone in a hurry. Nonetheless the only solution I can see is that we get stuck in on a massive state backed building program aimed at sucking air out of house price increases. Pouring more money in to help first home buyers or renters for that matter will not help.
Given that he's also pissy about the healthy homes regulations anf the july deadline for that, and that timeframe means it's likely that most of the bonds issued in the last 6 months will be for healthy homes, it's possible he was keeping up with the market rates.
When myopic birdwatchers can’t tell the difference between a Kea and a Kiwi.
https://www.engadget.com/twitter-birdwatch-fact-checking-crowdsourcing-partisanship-citation-173611388.html
Still, it is an experiment in its early days so let’s watch & learn from it.
Some of the findings are not at all surprising if you have been around the block more than once 😉
here is a civil debate that is well worth taking the time to watch…
Taibbi & Eskow: The Marcuse Match
Nice to see MIQ workers getting first doses of Covid vaccine today – gratitude and respect are due for the work they do.
or just pay them some really really awesome bonuses – weekly.
Stiffing 'em on a goodly portion of the interest and commissions, too.
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