Summary: The plan consists of both desired changes or improvements that the powers would like and then a list of maintenance that has to be done and when, for example paint the roof, wash the building, repairs lift and on on. These are all time lined and at the AGM will be discussed if and […]
A tenancy agreement is not usually broken but if it is both parties need to agree on the terms and conditions in place. These can vary as can the reasons for the breaking of the contract. SUMMARY: Breaking a fixed term tenancy agreement usually begins with one party approaching the other and if it can […]
When looking at an apartment, one of the most important things to check is the financial position of the Body Corporate. Does the Body Corporate have enough money to look after the building? Does it have money for future maintenance and improvements? Is it even looking after the building at present? SUMMARY: If a Body […]
It a building is well maintained the usual increase of annual Body Corporate fees are 1-2% which covers inflation. Ensure you look at the Long Term Maintenance Plan to see what is coming up and if extra costs may occur during that period. A lawyer can assist you with this if need be. SUMMARY: Over […]
Apartment Specialists Podcast No: 116 Summary: How significant is a body corporate minutes to an apartment owner, buyer or seller? Andrew Murray shows some of the essential details that you need to look for in an AGM minutes. Find out more from this video. TRANSCRIPTION: Good day, Andrew Murray here for Apartment Specialists. Today, I will […]
SUMMARY: There are situations that come up when you need to evict a tenant. If you need to, how much notice do you need to give beforehand? Watch the video to find out the details. How Much Notice do I have to Give to Evict a Tenant? There is more than one answer here: Periodic Tenancy […]
Summary: A landlord or rental agent by law has to give 60 days notice for a rental increase and can only do so if: It has been 180 days or 3 months from the date of the tenancy agreement if a periodic tenancy and can only do so with a fixed term tenancy if in […]
SUMMARY: Rent needs to match what the market rent is in the area. Keeping it slightly lower and maintaining long term quality tenants is recommended. Having a property that is furnished or in really good condition is advantageous if wanting to raise the rent with good reasoning. If wanting to raise the rent reasonable factors […]
The buildings manager’s role is made up of two main aspects, ensuring the day to day maintenance and running of the people is happening as well as looking after the culture of the building and that all residents are upholding the Body Corporate rules. Summary: The building managers’ role is not as easy as people […]
Apartment Specialists Podcast No: 184 Summary: Apartment owners who rent out their apartments obviously want to get the highest rent possible, but when can you raise it? Andrew explains the different factors concerning raising the rent relative to tenancy and tenancy agreement law. Watch the video for more details. When can you put a tenant's […]
Your First Step to Acquiring Your Very Own Auckland Apartment As a first time buyer, what should be your first step in acquiring your own apartment? It is wise to create a checklist with all your preferences. You also need to include your budget in the checklist, since you will base your expectations within the […]
Summary: The benefits of having an apartment in hotel lease are: There is less wear and tear as the people only stay for short periods of time and generally are corporates You don’t have to pay for the damage should any occur, this is the hotels costs Maintenance like painting is less as the apartment […]
Summary: Identifying your apartments worth through understanding what CV’s, GV’s and RV’s are. CV stands for capital value and is done by Quotable Value New Zealand and work on behalf of the Council, these are done on properties every 3 years and are not a true reflection of your apartments worth or are relevant. GV […]
Apartment Specialists Podcast No: 151 Summary: Is it a good idea to buy apartments off the plans or is it too expensive? Andrew Murray will answer this question and explain the factors involved in buying apartments off the plans. Get the full details from this podcast. TRANSCRIPTION: Good day, Andrew Murray here from the Apartment […]
