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Not everyone chooses to sell their current home when they decide to move on. Sometimes, it’s not even an option. If you’re looking to hang on to your personal home and turn it into a rental, there are a few things to consider first.
1. Wear and tear
This is perhaps the biggest thing … View moreNot everyone chooses to sell their current home when they decide to move on. Sometimes, it’s not even an option. If you’re looking to hang on to your personal home and turn it into a rental, there are a few things to consider first.
1. Wear and tear
This is perhaps the biggest thing homeowners need to know. As a rental, your personal home will experience more wear and tear than it otherwise would if you lived in it. Your garden will probably not look as immaculate as it once did, and your walls and floors may acquire new scuff marks. So, if you can’t shake off your emotional attachment to the property, you may be better off selling it rather than renting it.
2. Location
The location of your home can have a major impact on its rentability and how easy it is to find quality tenants. If you’re close to local amenities like schools, Waikato University, Waikato Hospital or public transport routes, you have a better chance of keeping your property tenanted.
3. Maintenance
If your home is high maintenance - perhaps it has a pool, a large garden, or old appliances - know that you’ll need to keep it maintained to a reasonable condition to meet your obligations as a landlord/owner. This may involve extra ongoing costs, or costs to remedy the amount of maintenance required.
4. Family homes do best
In Hamilton, family-sized homes do particularly well on the rental market. Four-bedroom houses in Hamilton fetch, on average, between $450 and $520 per week. As for the strongest performing suburbs, Hamilton East/University, Te Kowhai/St Andrews/Queenwood, Dinsdale South/Frankton, Dinsdale North/Nawton and Flagstaff/Rototuna have recently experienced the strongest rental growth for family-sized properties with three to five (or more) bedrooms.
5. Landlord responsibilities
When you turn your personal home into a rental, you will take on the mantle of landlord, which comes with its own set of responsibilities. This includes finding and screening tenants, conducting or arranging inspections, repairs and maintenance. It’s a lot to manage—especially if you’re no longer living in the region. It’s why so many investors hire professional property managers to take care of the day-to-day running of their properties. Moreover, their fees are tax deductible.
Important note: If you’re leaving the country for more than 21 days, you’ll need to either appoint someone as your landlord in your stead or hire a property manager.
6. Tax implications
If you turn your home into a residential investment, be aware that you may not be able to make tax claims against it. It always pays to talk to a professional accountant to make sure you set up your home-turned-rental properly to avoid issues with tax, ownership and debt allocation.
Let’s hear it for the amazing Fire and Emergency volunteers who help keep our communities safe.
This National Volunteer Week, head to the LetsHearIt landing page on Neighbourly and share a few words about why you’re thankful for what our volunteers do to keep our communities safe. We’ll … View moreLet’s hear it for the amazing Fire and Emergency volunteers who help keep our communities safe.
This National Volunteer Week, head to the LetsHearIt landing page on Neighbourly and share a few words about why you’re thankful for what our volunteers do to keep our communities safe. We’ll make sure they hear your message loud and clear.
Knowing how much we value their sacrifices is part of what keeps Fire and Emergency New Zealand volunteers going. Thank you for letting them know how grateful you are for everything they do.
It’s Roast Pork this Sunday!! Come and let us cook your roast for you. All the trimmings without the dishes.
As more and more of us try to do our bit for the environment, we'd love to hear what habits you've changed.
Have you gone off-grid? Found a way to create an environmentally home? Maybe you've given something up or swapped it for a greener alternative...? … View moreAs more and more of us try to do our bit for the environment, we'd love to hear what habits you've changed.
Have you gone off-grid? Found a way to create an environmentally home? Maybe you've given something up or swapped it for a greener alternative...? Click here to share your eco tips, tricks and experiences and we'll publish a selection of the best.
Tourists arriving in New Zealand may soon have to pay to enter the country under a Government proposed international visitor levy.
The proposal would impact international visitors entering New Zealand for 12 months or less and would be at a rate between $25 to $35.
Do you think international… View moreTourists arriving in New Zealand may soon have to pay to enter the country under a Government proposed international visitor levy.
The proposal would impact international visitors entering New Zealand for 12 months or less and would be at a rate between $25 to $35.
Do you think international visitors should be charged a levy to enter New Zealand?
Does your community group help families and young people in your local area and need of more funds to support the great work you do? Your local The Warehouse store is now calling for applications to become a partner for our Customer Choice ‘Bags for good’ Programme. In the last financial year … View moreDoes your community group help families and young people in your local area and need of more funds to support the great work you do? Your local The Warehouse store is now calling for applications to become a partner for our Customer Choice ‘Bags for good’ Programme. In the last financial year over $529,000 was raised for 279 community partners across NZ. Curious? For more information or begin the application click here.
Applications close on the 23rd of June.
The Pacific nation of Kiribati is facing a growing number of challenges. But Wintec is there on the…
Personal trainer Alison Storey's weekly column, Storey on Sport, answers your questions on fitness a…
Resene has just released the latest Habitat plus, full of inspiring ideas to help you bring out the best in your home with wallpaper. Pick up your FREE copy at your local Resene ColorShop. Make sure you view the extensive wallpaper library while you're in store; there's something to suit … View moreResene has just released the latest Habitat plus, full of inspiring ideas to help you bring out the best in your home with wallpaper. Pick up your FREE copy at your local Resene ColorShop. Make sure you view the extensive wallpaper library while you're in store; there's something to suit all tastes from neutral to bold, pattern to texture, fun to traditional, striped to botanical.
Housing affordability is getting worse for Kiwis - especially in Auckland.
About four in five people renting are unable to comfortably afford mortgage payments, recent Government statistics show. Many Kiwis are fleeing expensive cities like Auckland in search of affordable housing in the … View moreHousing affordability is getting worse for Kiwis - especially in Auckland.
About four in five people renting are unable to comfortably afford mortgage payments, recent Government statistics show. Many Kiwis are fleeing expensive cities like Auckland in search of affordable housing in the regions - and they're not looking back.
So, in your current situation are you able to afford your own home?
Kia ora neighbours, please come along to our hui to help guide the new direction of mental health and addiction services in the Waikato region. We warmly invite you to share with us your experiences, views and ideas on helping those and their whānau who experience mental health and addiction … View moreKia ora neighbours, please come along to our hui to help guide the new direction of mental health and addiction services in the Waikato region. We warmly invite you to share with us your experiences, views and ideas on helping those and their whānau who experience mental health and addiction issues to get the right support when they want and need it.
Hui will be held in Huntly at the following venues
Thursday 14 June - General public engagement
Riverside Room, Waikato District Council, 148 Main St, Huntly
Whakatau - 10am
Tuesday 19 June - Iwi Māori Hui
Miria te Kakara, Waahi Marae,
177 Harris St, Huntly
Whakatau - 10am
We want to hear from the Huntly and surrounding communities, including those who have experienced mental health and/or addiction issues and those who provide support such as whānau, friends and interested others.
We look forward to meeting you. He whakarongo tātou – we’re here to listen
RSVP to Waahi Whaanui 07 828 9695 / 0800 843 878 Email:trust@whanui.org.nz
Study one of our Certificate qualifications and you’ll be able to pathway straight into higher levels of study after graduating, with an introductory knowledge of your subject.
You’ll have access to all our purpose-built facilities and a team of expert tutors behind you, giving you that … View moreStudy one of our Certificate qualifications and you’ll be able to pathway straight into higher levels of study after graduating, with an introductory knowledge of your subject.
You’ll have access to all our purpose-built facilities and a team of expert tutors behind you, giving you that extra push to get you where you’ve always wanted to be.
Last-minute points decided two of the top matches which came down to the wire in the Waikato Premier…
Hi Waikato,
Auckland Airport has been under fire recently and it got us wondering about what Kiwis think about their local airport. We want to hear about your airport experiences. What do you think are the best and worst Koru lounges in NZ? What are some of the weirdest or quirkiest airports … View moreHi Waikato,
Auckland Airport has been under fire recently and it got us wondering about what Kiwis think about their local airport. We want to hear about your airport experiences. What do you think are the best and worst Koru lounges in NZ? What are some of the weirdest or quirkiest airports you've been to in NZ? Email your thoughts to our travel reporter at lorna.thornber@stuff.co.nz. (If commenting, please add "NFP/not for print" if you do not want your images/comments used on Stuff).”
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