2021-09-20 23:17:41 UTC
So what should be done?
Clearly raising the accomodation supplement (first introduced by
National to assist owners of rental properties). Perhaps one solution
In the NZ context however that would result in the government having
to pay "full market value" to the current owners.
Another course is to again pick up on the initiative of John Key - he
reversed the presumption that a house is never purchased for the
purposes of investment gain for houses sold within a short period of
purchase - now a buyer and seller would have to prove that they did
not have that intention, or pay tax on any capital gains. This was a
fairly simple change to introduce, and a later government extended it
from 2 years from purchase to 5 years. It should be simple to also do
it for any property purchased by a person or company that already
owned say 5 or more rental properties - other than a single property
not rented which is lived in by an owner as their proncipal residence.
Yet another option is to beef up the tenancy tribunal giving it
authority to set rents for any property that does not meet healthy
home standards, to set higher rents for short term rentals such as to
University students who only want say 10 months occupation, but also
to set lower rents for homes where the tenant could reasonably expect
to be able to establish a 'home' but where they owner can give less
than say 6 months notice of cessation without there being reasons such
as damage to the property or non-payment of rent.
This is a complex area where there are claims that MPS from both
Labour and National own sufficient propoperties that they do not want
to see the large profits curtailed.
This is an opportunity for others to step forward with ideas . . .