I find the whole thing crazy. No capital gains tax here means that property is *alway* a good investment. And if a renter can *help* pay the mortgage, then great.
The idea that a renter is supposed to cover every single cost of your property, and you up the rent any time it might cost you slightly more, is depressing. An investment is always supposed to cost you money. It takes money to make money, as they say. Landlords should be happy that they get to put in less money for a tax-free gain.
If I put money in the stock market, I would have to pay tax on the gains, and there’s no one helping me by putting money in.
Long story short, I just think investment property owners should be happy with their situation and not milk it.
Great explainer! I have had some dreadful landlords, profiting as much as possible with minimal maintenance but you're just beholden to them. I'm lucky to be a home owner now but fully support a freeze.
Even the term landlords is so feudal. We on Waiheke have been calling for a rent freeze for a long time. I say that as someone who has watched medical staff, teachers, gardeners and so many others have to leave our island because there are so few affordable rentals. We have plenty of housing on Waiheke because our population goes up to 30,000 in holiday times. We have a huge amount of empty houses which are holiday homes or baches (but with 4 garages) and a huge amount on the AirbnB market. People who need to be on social housing register often sent far away to Auckland where they lose their support network. We have approx 18 KO homes called the pensioner village ... so depressing. I suggest we need a rent freeze in these expensive times and then put in place a whole lot of rent controls. If we get a NACT govt I am pretty fearful of what happens next! We so need renters to vote.
I find the whole thing crazy. No capital gains tax here means that property is *alway* a good investment. And if a renter can *help* pay the mortgage, then great.
The idea that a renter is supposed to cover every single cost of your property, and you up the rent any time it might cost you slightly more, is depressing. An investment is always supposed to cost you money. It takes money to make money, as they say. Landlords should be happy that they get to put in less money for a tax-free gain.
If I put money in the stock market, I would have to pay tax on the gains, and there’s no one helping me by putting money in.
Long story short, I just think investment property owners should be happy with their situation and not milk it.
Great explainer! I have had some dreadful landlords, profiting as much as possible with minimal maintenance but you're just beholden to them. I'm lucky to be a home owner now but fully support a freeze.
Even the term landlords is so feudal. We on Waiheke have been calling for a rent freeze for a long time. I say that as someone who has watched medical staff, teachers, gardeners and so many others have to leave our island because there are so few affordable rentals. We have plenty of housing on Waiheke because our population goes up to 30,000 in holiday times. We have a huge amount of empty houses which are holiday homes or baches (but with 4 garages) and a huge amount on the AirbnB market. People who need to be on social housing register often sent far away to Auckland where they lose their support network. We have approx 18 KO homes called the pensioner village ... so depressing. I suggest we need a rent freeze in these expensive times and then put in place a whole lot of rent controls. If we get a NACT govt I am pretty fearful of what happens next! We so need renters to vote.