Investing in you own home or investment property has been a part of life in New Zealand for many years. As a result of this, there is a danger that borrowers lose sight of the fact that borrowing for property will most likely be the biggest financial investment most of us will ever make.
Whenever you are undertaking a large project that has the potential for increase – or more importantly a loss – then you need to make sure you surround yourself with a great team. We are here to arrange the funding and help with the financial structuring, but we do this in conjunction with other important members of the Property Team.
Property Team Members
Vital when it comes to any type of buying or selling as the conveyancing is completed through them. As well as giving advice on, and setting up of, different types of holding companies, Trusts or Partnership agreements etc. and any type of relationship agreements that need to be put in place to safeguard the parties involved.
Important when it comes to the initial borrowing (if you are Self-Employed), on advising the best ownership and borrowing structures and finding ways to maximise the tax advantages you may get through these structures.
Many people do not have the time or desire to deal with finding tenants or managing them during the time they live in their rental properties. This is where Property Managers are invaluable – they take care of the sourcing of Tenants, and look after them to make sure if anything goes wrong that you, as the Landlord, can rely on them to take care of the problems. More and more there are a number rules and laws that apply to rental property and Property Manager will also make sure the Landlord is aware of these and that the Tenant is looked after. Failing to abide by these rules can result in fines or worse. For a small proportion of the rental income they take care of all of the above and provide monthly and annual statements which makes the Landlords life easier (along with the Accountant’s).
Valuers and Building Inspectors
Most Trading Banks now insist on ordering the Valuation directly but there are always times when the recommendation of a good Value is invaluable.
The services of a Building Inspector are also often needed, especially when is comes to look at homes that are of different construction. Any property is a huge investment and making sure you are getting a good one before you commit to buying it is very important.
How do I find members of my Property Team?
We have been arranging finance for borrowers for many years and have many we can put you in touch with. We will always look for the best fit for our clients depending on their different needs. It is never a “one size fits all” solution and because we deal with such a large range of lending requirements we have built up a large group of talented professionals we are happy to recommend. We discuss this with clients during the application process but if you would like to talk to us about this separately then please get in touch