30-12-1899

Muriel Newman Speech Property Investors Assn

1. News
2. 1999
3. December

ACT Party

The following are the key elements of the address to Wellington Property Investors Association by Muriel Newman MP.

Residential property investors should vote for a change in government on election day if they want to retain rental housing as a good investment for their retirement. The changes that Labour are considering if they win a third term in office have the potential to dramatically undermine the attractiveness of residential rental property: capital gains tax, rent controls, the registration of every property, annual warrant of fitness check and an examination and registration regime for property owners, are some of the proposals being considered by Labour.

One final comment. Of all the parties in Parliament, ACT has worked the hardest to protect the rights of private property investors. Working with property groups, we fought hard against the Residential Tenancies Amendment Bill which was designed to penalise landlords. To date – almost four years later – it has still not been passed, and if Labour is defeated, the Bill will be relegated to the dustbin of history.

ACT led two campaigns to help landlords:

• firstly to enable beneficiary tenants with money management difficulties to have their rent paid directly to landlords, and
• secondly to require the Department of Work and Income to release contact details to court bailiffs in order to serve court orders from the Tenancy Tribunal.

We also fought against Labour’s depreciation changes, and we have raised awareness of the draconian changes that Labour is promoting in the review of the Residential Tenancies Act.