With reference to the artlice in The Christchurch Press on 12 June 2010 called Landlords Quit Rental Properties.
This is certainly not our experience, with 1% of our managed properties selling last month, which is average.
The highly geared investor reliant on depreciation write down and with interest rates increasing will be considering options.
The article in the press quoted an unnamed investor, “ I’m tired of the burden of the mortgage if the rent isn’t paid, which has happened twice lately”.
Arrears management is a focus of McPherson Property Management, with our current levels at record lows.
In these tighter times if a tenant gets behind it is difficult to catch up, vigilance with systems are our tools.