Occupancy rate - 98.97%
Arrears - 0.26% for May 2019
With the deluge of rainfall over the last week, winter is well and truly here. But being optimistic, there is relief on the horizon with Winter solstice fast approaching, 22 June 2019.
As mention last month, The Healthy Homes Guarantee Bill has been passed recently. The Government released the long awaited standards last Thursday, 23rd May 2019, so the industry has been busy digesting these and looking at how we will be affected and how we capture the required information.
The Healthy Homes Standard criteria are outlined in Table 1. The Bill covers off Heating, Insulation (post July 2019), Ventilation, Moisture Ingress, Draught Stopping and Drainage. As of the 01 July 2020, we need to have a statement for every property showing the compliance information for each of the 6 criteria and the reasons for any exemption listed.
The timelines that we all must work towards are outlined in Table 2. The key being that over the next two years we must gather, collate and record in a Statement of Intent the existing heating, insulation, ventilation, moisture ingress, draughts and drainage and note any exemptions, and as with the insulation guidelines over the last 2 years, look at progressively getting properties complying with the new standards.
Over the coming months we will examine the regulations and standards, so this month we concentrate on the Heating Standards.
Regulation 34 states that all properties must have a Heating Standards Statement completed as per Table 3.
This only relates to the main living area, or if open plan the living space. It must contain a Qualifying Heater. This does not pertain to bedrooms or hallways or secondary living areas.
Table 4 gives an indicative guide to the capacity heater required for the primary living space. I believe installers would have adhered to industry guidelines for any previously installed fixed form of heating e.g. heat pumps, gas fires etc and these would be suitable forms of heating under the new standards.
Table 5 states what is not a Qualifying Fixed form of heating. Open fires are not an approved form of heating under the new standards. Coupled with this, all non used open fire cavities/ chimneys must be closed into prevent draughts and heat loss. Unflued gas heaters are also prohibited.
Your property manager will be in touch after the next scheduled inspection to discuss any issues that may arise. I am confident that most properties we manage will now comply with the new requirements but we will complete due diligence to limit our Owners liability going forward.
Headlining the News this week was that New Zealand’s median rent reached $500 per week, the first time in the country’s history. Nelson stands at $426 with other regional cities demonstrating strong rental prices.
Economic growth predictors for the region remain strong with continuing strong migration numbers. We receive enquiry on a daily basis from groups relocating to Nelson for work and requiring rental accommodation.
A trend of the last couple of years shows us that the number of properties available to rent rises in May due to the number of properties switching from Air BnB short term lets, to Owners wanting secured returns over winter. As of 29 May 2019 the number of properties stands at 152 (previous month 102). This is comprised of 29 one bedroom properties, 37 two bedroom properties, 55 three bedroom properties and 13 four + bedroom properties.
The median rent received in Nelson/Tasman for the month ending April 2019 was $426.58, a decrease of $1.50 per week from March 2019 (the first decrease noted in many months). The average rental in Nelson/Tasman has increased by 9.68 % in the past 12 months.
A strong Motueka/ Rural Tasman return for 2 bedroom properties is the catalyst for the increase. With the demand for dwellings increasing in and around Nelson and Motueka is proving to be a popular location. The 2 bedroom rental price has increased by 40.0% in the past year.
This month we we will show the change in the median rent compared to 5 years ago in the region.
The median rent percentage change is 25.87% in 5 years, an average of 5.17% per annum (NZ Property Investor May 2019)
Demand is continuing to slow for properties in the region as we approach winter and this is evident by the number of people booking in to view properties. However our average length of tenancy remains at 3.3 years demonstrating that clients renting our properties are very satisfied with our services and their rental accommodation.
The next rental disbursement will be on Monday 17th of June for mid-month payments and Monday 1st July 2019 for the end of the month payment and statement.
We value our clients and we hope you value our services as well. Word of mouth referrals speak volumes.
Refer an Owner to us in the months of May, June and July and we will acknowledge your efforts by waiving One (1) years inspection fees on one property per referral (if your referral signs on with Haven Property Management for a minimum of one year) .
Referrals must be notified to us either verbally or by email prior to the management commencing.
(One referral completed in May with our lucky Owner receiving 12 months of inspections free!!)
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