Discount for rent paid on time flouts law

I have some flats and want the tenants to pay strictly on time. I wrote up the periodical tenancy agreements at the maximum rental figure for each flat with a 10 per cent discount if the tenant paid right on time, with no discount if they are a day late. Somebody has told me that this is illegal as it equates to a constant rent increase, which is against the Residential Tenancies Act. The act only allows rent increases at six-monthly periods. Which is correct?
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Changes coming for landlords and tenants

Landlords face significant changes in a revamp of tenancy laws expected to be unveiled later this year.
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Damage doubles in HNZ homes

National Party Housing spokesman Phil Heatley says the damage being done to state homes by tenants and their guests has ballooned.
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Answer not a tax, accountant says

A captial gains tax to cool the booming property market was a knee-jerk reaction toa  cyclical problem, leading Dunedin tax accountant said yesterday.
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QV statistics confirm slowing property market

QV's October statistics released today report growth in national property values of 12.7% over the past year.
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Warning on home grants - NZ Herald

As New Zealand considers Government handouts to help young people to buy their first homes, Australians are sounding a warning.
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Property investors will pay more tax

“Property investors will pay more tax if Labour win a third term”; ACT Deputy Leader and Housing Spokesman told the Otago Property Owners Association today.
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Borrowers watching what's happening

Borrowers look to Reserve Bank for direction and await more spring home loan campaigns from banks.
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Fixed home loan rates start the year falling

Borrowers begin the year with some hope that interest rates have reached their peak as weak growth data indicated chances are the Reserve Bank will be in a holding pattern until later this year, when some easing may eventuate.
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Regulating landlords

The letter from Frits Schouten, of Waiuku, has a fundamental flaw.
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New Cairns Lockie loan attracts interest

Non-bank lender Cairns Lockie is already receiving inquiries about a new loan offering which gives home owner-mortgagees who want to buy a rental property higher tax deductions on their over-all property portfolio.
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Home fees to fall as MPs axe monopoly

The cost of buying and selling property should become cheaper with the axing of a monopoly held by lawyers to carry out conveyancing work.
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Radio NZ discussion on Capital Gains Tax for Property

Listen online to the radio interview...
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Reserve Bank raises cash rate again

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Some economists not sure a rate rise is wise

Most economists are expecting Reserve Bank governor Alan Bollard will raise interest rates on Thursday although not all are convinced of the wisdom of doing so.
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Dump richer state house tenants to ease waiting lists

An Otago University, Wellington School of Medicine research project has found asthma and hospital admission rates are much higher among families waiting for a state house.
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Warning to homeowners on mortgage payments

Homeowners who get into financial difficulty must contact their lenders early to seek assistance, Banking Ombudsman Liz Brown has warned.
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RESIDENTIAL TENANCIES ACT – Reforms

At the Property Investors Federation’s annual conference, held earlier this month, the Minister of Building Issues, Clayton Cosgrove outlined some key reforms to the Residential Tenancies Act.
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Carter says DIY culture alive and well

DIYers will still be able to carry out home building work under the Building Act 2004, Building Issues Minister Chris Carter said today.
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More state help urged for first home buyers

Nearly two-thirds of people believe the Government is failing those hoping to invest in the Kiwi dream - owning a home.
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Home Ownership Dream Won't Go Away

New Zealand First is concerned that escalating house prices throughout New Zealand are locking first homeowners out of the housing market, and warns of the long-term ramifications of this in terms of the traditional kiwi lifestyle.
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IRD Associated Persons – Rule Change

The IRD are planning changes to associated persons rules that would apply to developers and associated parties [and not to people who just own rental property].
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Slim pickings as house sales continue to drop

Anne Gibson reports in the NZ Herald that house prices are growing fatter but sales turnover is almost anorexic and agents are complaining about the skinny pickings.
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Rental tax gains count for little

I don't get it. Politicians and economists have been complaining lately that rental property has tax advantages over shares. It's hardly a new claim.
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More short-term rates rise

The past week has been relatively quiet on the home loan front and it appears much of the attention is shifting to what the Reserve Bank will do it at its next official cash rate review on July 28.
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