Property Investment as Block of Flats For Sale In NZ

Posted on Monday, June 27 2011

How to choose block of flats as an investment property

 

Finding Property Investment as Block of Flats for sale in New Zealand isn’t difficult, since these buildings are available in just about any NZ city or suburb across the islands.

Blocks of flats were mainly built in New Zealand between the 1950s-1970s as a brick and tile or weatherboard combined dwelling, some have attached garage or detached off parking area. traditionally the flats floor area ranges between 45m2 -50m2 for 1 bedroom plus bathroom unit and 55m2-65m2 for 2 bedroom one bathroom.

 

investment block of flats

When property investors are hunting for this type of real estate, they are primarily interested in rental income. However, the rental market comes with a list of considerations unique to this type of investing. This article will offer four factors to keep in mind when purchasing investment rental property in New Zealand. We will also give you the name of a company that can help you find the best rental property for your property investment needs.

One of the top factors to consider when searching for flats for sale is the location of the property. It doesn’t matter if you are buying in Auckland, Wellington, Dunedin or another area of New Zealand. You want to find rental property that is close to public transportation, employment and shopping amenities. Finding a building near to recreational sources is also a good idea. You also want to research the area you are considering to ensure there is a strong demand for rental property where you are looking.

When exploring a particular property, try to see it from a prospective tenant’s eyes. What sort of living quality will your rental property provide? Do the units offer balconies, private courtyards, separate laundry facilities, carport or garages? Are the bathrooms and kitchens up to date? It is important to research the features tenants are looking for in rental properties before making a purchase. This way, you can choose a Block of Flats that will be more likely to attract tenants.

You will also need to decide if the Flats for sale that you are considering will appeal more to residents or tourists. If you are buying in a hot tourism spot, you may end up with more seasonal renters than you bargained for. While tourism rentals in some parts of New Zealand are incredibly lucrative, you may need to prepare for the fact that you will not be getting consistent rental income every month of the year.

Once you find a Block of Flats for sale that you are interested in, you will also need to find a way to maintain your building from afar. Most investors hire a property management company to handle this task. Take your time to find the best company for your needs, since your property manager will have a direct affect on the happiness of your tenants as well as your vacancy rate. If you are working with a property finder buyers agent to locate your investment property, that professional may be able to recommend a property management team.

Buying Investment Property as Block of Flats for sale for rental purposes is a good way to obtain monthly income from your investment property. There are many special considerations that go into purchasing the right rental property for your needs. By weighing all of the factors listed above, you will be sure to find a property that is lucrative. To get more information about the investment property in New Zealand, and to locate the perfect property for your investment needs, contact the professionals at PropertyGenie.co.nz.

Comments are closed.

Expert's Bio

Administrator Web Master

***Administrating the Property Investors Network*** The Property Investors Network is New Zealand's #1 Marketplace for property Investors, Sellers and Property Professionals. Property investors get FREE access to: Our exclusive Hot Deal Room - browse dozens of property deals around New Zealand that meet our strict investment criteria, guaranteed to save you time and money; Articles by our panel of professionals (on everything about property investment); Looking for high yield deals, below market valuation? Visit PropertyGenie.co.nz register your account for FREE, and visit our Hot Deal Room today! Find Us on Google+

  • Company Name:
  • Phone:
  • View all articles by: