Miriam Bell the editor of NZ property investors magazine shared recent insights gained through a landlords survey.
Key insights from survey
- 31% of landlords offered a rent reduction
- 72% of landlords felt stormy days ahead, many mentioning the tenancy law reform instead of covid as the main cloud
- Most residential tenants and landlords made successful arrangements
There was some amazing work done by a lot of residential property managers with keeping communication lines open. Many checking in on tenants and offering room for negotiations.
Residential property investment fared pretty well through this period. However the same can not be said for commercial property. With Many landlords having to deal with large reductions in rent due to clause 27.5 in most agreements. This clause allows room to haggle the rent if access to the property is compromised.
