All Topics / Help Needed! / IP with Housing NZ lease

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  • Profile photo of GreatPigGreatPig
    Member
    @greatpig
    Join Date: 2004
    Post Count: 284
    May 26, 2004 - 3:26 am

    Hi,

    Just wondering what you think generally about IPs that come with a Housing NZ lease.

    I saw one on the Internet that is leased to Housing NZ until October 2007. If the other financial aspects were favourable, would you consider the lease a plus or a minus?

    ISTM like it’s three years of guaranteed tenancy. I have no idea at this point of renewal options on the lease.

    GP

    Profile photo of tamaratamara
    Member
    @tamara
    Join Date: 2003
    Post Count: 56
    May 26, 2004 - 6:51 am

    Hi GreatPig

    I guess I would be asking mysself what would happen if Housing NZ were no longer your tenant? How easy would the property be to tenant etc.

    Tamara

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950
    May 26, 2004 - 6:57 am

    Hi GP

    i wouldn’t take on a property just because it has a good tennant in place. The area has to be right as does the price and the rental income, a good tenant like yours would be a huge bonus.

    regards westan

    Profile photo of GreatPigGreatPig
    Member
    @greatpig
    Join Date: 2004
    Post Count: 284
    May 26, 2004 - 11:39 am

    Thanks for the replies.

    So you would consider Housing NZ to be a good tenant? Not difficult to deal with?

    Would a lease be much the same as a normal tenancy in regard to the obligations of the owner (maintenance, etc)?

    GP

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