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A good time to invest in property

By : 2020-08-06
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Miles and his partner Keri-Lee are international teachers based in China. When not teaching in various corners of the globe, they call Hamilton home and have built up a small property portfolio in the Hillcrest and Riverlea areas.

With low interest rates at the beginning of 2020, Miles and Keri-Lee took the chance to expand their property portfolio. Their latest purchase, a property on the edge of Hillcrest and Riverlea, was something of a no brainer.

“It’s in a good area and close to the university—we used to live in Hillcrest when we attended uni ourselves so we’re familiar with it too,” says Miles. “And once the new motorway and the Ruakura Inland Port opens up, it’ll only get better.”

 

Property research made easy

While the house was not the best on the block, Miles and Keri-Lee saw its investment potential—particularly with its brick build, which made its exterior low maintenance and ideal for renting.

“It’s on a nice street and was at a reasonable price,” says Miles. “We were conscious of not extending ourselves too far.” 

Brenda Beale, the Lodge Real Estate agent in charge of selling the property provided extra information to help Miles and Keri-Lee make their decision.

“Brenda was great. She went out of her way to make things work for us,” Miles says. “She gave us rental information: how much rent to expect as well as an analysis of similar properties in the area and what they were renting for.” 

So when Miles and Keri-Lee put in an offer and it was accepted, they knew they had locked in another solid investment in the area.

“The demand for rentals is high in Hillcrest—especially with the university being so close,” Miles says. “We know that we’ll never be short of people wanting to rent the property.”

 

Another home for their property manager

Miles and Keri-Lee use Lodge property manager Wesley Laird to manage all their properties.

“We initially set my mother in law up with power of attorney for our investment properties as we were often overseas, but then we had an awful tenant while we were away and decided it wasn’t fair on her to deal with it, which is how we found Wesley,” says Miles.

Wesley now manages all the tenant-related aspects of Miles and Keri-Lee’s rental properties, along with maintenance. 

“He’s a good person to talk to, always straight up. It’s great to have him there when there’s a problem,” Miles says. “He’s proactive with maintenance too, so we know the properties are going to be well taken care of.”

Moreover, with Lodge’s curated list of trusted tradespeople, getting competitive quotes for repair and maintenance tasks is easy.

“It provides real peace of mind,” Miles says. “Especially when we head overseas.”

 

For more information on selling a home or getting a home appraisal, contact us and one of our property experts will be in touch.