Company Update - March 2024

It’s Our 6th Birthday!

As we celebrate The Rent House reaching the remarkable milestone of six years in business, it's a moment to reflect on our journey, achievements, and the incredible community that has made it all possible.

Six years ago, we embarked on a mission to redefine property management, armed with a passionate team and a vision for excellence. Today, as we pause to mark this occasion, we find ourselves humbled by the journey we've undertaken and the progress we've made.

One of the cornerstones of our success has been our team – many of whom have been with us from the very beginning. Their dedication, expertise, and unwavering commitment to our vision have formed the bedrock of our company. Together, we've built not just a business, but a family, united by a shared passion for providing exceptional service to our landlords and tenants alike.

Our success is also a testament to the strong foundations we've laid – meticulous attention to detail, a relentless pursuit of innovation, and a steadfast commitment to integrity in all that we do. These values have guided us through every challenge and opportunity, ensuring that we not only survive but thrive in an ever-evolving industry landscape.

Of course, none of this would have been possible without the trust and support of our clients. Your faith in us, your partnership, and your invaluable feedback have been the driving force behind our growth and success. As we look to the future, we are more committed than ever to exceeding your expectations and delivering exceptional results.

So, as we raise a toast to six years of growth, achievement, and camaraderie, we extend our heartfelt gratitude to each and every one of you who has been a part of this incredible journey. Here's to many more years of success, collaboration, and making a difference in the world of property management.

New Fleet Additions!

Our team is hitting the road in style this month with brand new fleet cars! We made the move to spacious SUV’s for our team, recognising the time that they spend on the road and the importance of both comfort and safety. 

Welcome to the Team, Lana!

We are delighted to announce that Lana Miller has joined our team as Tenancy Manager. Lana started her journey with us as a temp to assist with an influx of growth and we very quickly recognised that she was the perfect fit for our team, well aligned to our common goal of creating service excellence. Lana brings a wealth of experience to The Rent House team, with a background in real estate and business development. Lana's multifaceted skillset and proven success in market analysis, negotation and client satisfaction distinguish her in the industry. With a client-centric approach, Lana always prioritises the needs and goals of clients, backed by an unwavering dedication to professional development. 

Lana's role is that of Tenancy Manager, working alongside Senior Property Manager Jo Cavanagh. Lana covers many of the on-the-road functions for the team as well as being a reliable port of call for tenants. Lana has an excellent eye for detail, a calm and collected approach to problem-solving and understands various walks of life which makes her an approachable but firm Tenancy Manager.

We Have Expanded!

Over the past year, we've been on a journey of expansion, both in terms of our team and the areas we provide property management services. We're delighted to announce that we now cover a vast stretch of territory, from Wellsford to Taupo!

Understanding the needs of landlords with properties spanning multiple areas, we've made it our mission to provide seamless property management solutions. We recognise the importance of having a single point of contact and communication channel, regardless of the geographical spread of your properties. That's why we've dedicated ourselves to working tirelessly to make this a reality.

With our expanded reach, you can trust that no matter where your properties are located within our service area, you'll still enjoy the same level of personalised attention, expertise, and commitment to excellence from us.

Interest Deductibility & Brightline

The current National-Act-NZ First coalition government has confirmed the return of interest deductibility to residential property investment, with the phased-in changes taking effect for property investors from April 1, 2024. New legislation will be passed allowing landlords to deduct 80% of interest expenses on property investments from April 1, 2024 (i.e in the year to 31 March 2025).
Deductibility will increase to 100% from April 1, 2025 (i.e. the 2025-2026 financial year).
(The 2023-2024 financial year will retain interest deductibility of 50%).

The government has also planned to reduce the brightline test (the de-facto capital gains tax) from 10 years to 2 years effective July 1, 2024. This means that people who sell residential investment properties within two years of purchase will have to pay tax on any capital gains. Currently, this period is 10 years for existing investment property and 5 years for new-builds.

After July 1, all property will fall under the ‘two-year test’ (regardless of new-build or existing). As an example, someone who sells a property after July 1, 2024 and bought it 3 years ago wouldn’t be taxed under the test.
The ‘main home’ or family residence continues to be tax exempt. Under the proposed change, any property is considered an investment if it wasn’t used as the main home for more than half the time it was owned.