Soon you can live at the mall: Corporate landlord model coming to Auckland
Sylvia Park shopping mall owner Kiwi Property wants to be your landlord. It will be among the first to bring an internationally contentious large-scale corporate landlord renting model to New Zealand.
The publicly listed $3.6 billion company intends to build and rent out around 2500 houses in Auckland in the next 10 years, including nearly 300 apartments at Sylvia Park which are set to be tenanted by 2024.
Chief executive Clive Mackenzie said Kiwi Property would bring a “new level of professionalism” not seen before by Kiwi renters.
Thanks to Labour, National, Greens, ACT & the Māori Party for doing nothing in terms of building more State Houses and affordable housing so that the pure evil that is Corporate Landlords stepping in and molesting this under regulated rental market.
To date renters have had to put up with the rise of Megalandlords and middle class property speculators, but corporations are the difference between having an Orc or a Nazgul as a Landlord.
To stave off an economic stampede as Covid broke out, the Government pumped billions into the banks who in turn used that to spark a speculative gold rush that will crucify renters once Adrian Orr has to raise mortgage rates again.
Mortgage rates that the Megalandlord scum class will push straight onto their tenants!
The landlord class have a vast power over the renter class who have bugger all!
Surely an explosion of food inflation and oppressive rent hikes must be met with militancy!
A nationwide rent strike with clear instructions to the landlords to get the rent paid by Labour would terrify this nation of property speculators and their political handlers.
Burning down ghost houses should be next.
Previously renter militancy couldn’t be collectively harvested to be effective but social media can do that and so much more!
The politicians, landlords and banks have rigged the game for themselves – if we enter a winter of discontent from greedy landlords raising rents, we should strike back on the place that hurts them most, their wallets and their precious assets!
The truth (like everything else in fucking NZ), is that the under regulated free market has been warped by the wealthy for their interests and all Labour attempt is bullshit tinkering on the sides rather than challenge the dominance of neoliberal theology.
We have allowed the commodification of houses to be a means to make wealth and people are chasing that with all the nuance of meth addicts in a P lab.
If Labour wanted actual solutions, these 3 would do it.
1 – FLOOD MARKET WITH MASS STATE HOUSING REBUILD: End the scum landlord subsidy of housing allowances end putting money into the pockets of unscrupulous motel owners by rapidly building 50 000 new state homes. Scum Landlords can do as they please because the level of desperation amongst renters gives them total power. Flooding the market with 50 000 new state houses would rob scum landlords of that desperation.
2 – STATE HOUSE FOR LIFE: Allow beneficiaries to stay in their state home for life so that they can create stable communities and that their desperation is never transported back to Landlords.
3 – DEPOSIT RESTRICTIONS: First time home buys should be required to have 10% deposit, but the more properties you own, the higher the deposit. The reason the speculators can out buy any first time home owner is because they can use their multiple properties to leverage more debt. If you are a property speculator, you need to turn up with a 70% deposit to counter the leverage multiple properties allows them.
If Labour want to actually solve the problem they have to regulate the market and re-set it so that speculation is punished while first home ownership and housing of the poor is championed.
For too long we have allowed the the rich to dictate the rules, if Labour’s kindness is to be meaningful, it needs to challenge that dynamic.
Unfortunately Labour are not looking for solutions, they are looking for the pretence of a solution to ease criticism from their Left.
That’s ‘neokindness’.
Corporations stepping into the rental market will result in an abuse of power unseen before, thanks to the entire political spectrum for allowing their inaction to birth this abomination.
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If our Govt(s) are not prepared to regulate for conditions to allow people to buy their own home they need to regulate the rights for renters to secure, permanent housing with fair rules.
Yes to flooding the market with a mass state house rebuild, and yes to income-related state house rentals for life for all who want them.
No to Bradbury’s third demand: that first-home buyers must stump up only a 10% deposit. That would be ruinous for them in a world of rising interest rates, unless the housing market crashes by 80% back to the internationally acknowledged affordable norm of the median house price equalling three years’ median net income.
As for ‘evil corporate rentals’ and ‘the pure evil that is Corporate Landlords stepping in and molesting this underregulated rental market’, is Bradbury serious?
The true evil is the mum-and-dad landlords who squeeze the maximum rent out of old houses unfit for habitation, then evict their tenants to sell the houses on a whim, or pretend a family member needs to move in. But Labour is desperate for the votes of those mum-and-dad landlords, so fails to properly regulate the housing market with warrants of fitness and guaranteed life tenure.
In contrast, corporate landlords will confine themselves to new builds fit for habitation. And their model is based on life-long tenancy: no whimsical evictions.
And a great advantage of corporate landlords is that they consist of shareholders used to regulation, not a horde of enraged mum-and-dad landlords gnashing their teeth and threatening to depose the government of the day unless they get their way.
Give me a corporate landlord or give me a state house! End mum-and-dad landlordery!
https://www.stuff.co.nz/life-style/homed/renting/128749856/worries-about-landlords-reaction-stymie-investigations-into-thousands-of-potentially-damp-or-mouldy-homes
All part of the plan Bomber, you’ll own nothing and you’ll be happy! Also you will eat ze bugs & love your corporate masters. Build back better!
Well it’s all because of Auckland Councils Panuku Chairman Paul Majurey.
He wants Global Hedge Fund Vulture Capitalists to buy, invest in NZ to solve the housing crisis to become the overlords of social housing in NZ.
Majurey is the guy who said that Auckland council doesn’t do Social Housing but will assist investors to tap into the IRR scam when buying properties and then lease or rent out to then claim the IRR.
Just what Hedge Management Fund Blackstone likes. The worlds largest landlord.
Labour has bought into the global landlord overlord housing scam!
Here’s why corporate pirate landlords aren’t to solution. Blackstone Asset managers are a plague on the poor and impoverished.
Farrah embarrassed Labour, Adern so much when she visited in 2016/2017 they made a film about it.
https://youtu.be/hnIANaFYV0g
Yes and I want corporate management rights
corprate renters works reasonably(only reasonably) well in europe because it’s WELL REGULATED with long term leases(lifetime in some cases if you want it)…however we in NZ will go with ‘light touch’ ie-no regulation and a shit show will inevitably ensue..
Sadly, I think you are correct Gagarin.
‘Light touch’ regulation will be used because a) it is cheaper for the government, and b) the public sector is full of nice and naive people doing the policy work and they think everyone is just as nice as they are, and they themselves wouldn’t think of cutting corners or cheating for a profit.
Identity woke met neoliberals and devised the greediest model ever.
Don’t save for retirement with the traditional rental which actually provided a non centralised, distributed, service to renters and kept property prices lower. Now we have a centralised way from the very people who bought us neoliberalism and trickle down meets HNZ lack of maintenance and centralisation.
Grenfell here we come. Complain for a decade and guess what, nothing done!
Meanwhile a bunch of corporate billionaires/ bureaucrats living off the profits and multiple management layers – so much better than having the evil Mr & Ms working class plumber/builder/teacher/police officer having a rental down the road. It’s like a 4 hour wait at a call centre for a Chorus/Vodafone enquiry, Yipee! Corporate efficiency rocks!
The neolbierals will ‘invest’ for you, and it doesn’t take long to realise that this model fails to work out very well aka constant share market and global financial crisis crashes wiping the workers savings and retirement funds out every decade, CEO’s stealing/frittering away pensions. Happens in every country very consistently, but makes people running the funds, very, very rich and thus governments seem to love to promote it after being wooed with donations and lobbyists.
Fear not, after losing everything neoliberal style, the woke will look after you as long as you speak the secret woke identity language!
“Don’t save for retirement with the traditional rental which actually provided a non centralised, distributed, service to renters and kept property prices lower”
Really, the mum and dad rentals you idolise are the worse. They make people pay up to 90% of their income in rent, and just throw you out on a whim for nothing. THey are taking the retirement savings of the poor to build their own nest eggs. WHy do you think it is a good thing?
Labeen/NatzACT next steps are to fill the rental apartments with woke from overseas as the non woke overseas nationals are leaving NZ too.
NZ brain drain is not ethnically driven, it’s financially driven from a lack of decent opportunity and decent wages comparable with OZ!
What happens when the population of NZ is too woke to work so not sure who is expected to look after everybody and pay taxes once they remove the middle, working and professional classes from NZ due to low wages and a lack of ways to get ahead here, financially!
The immigration policy seems to be for every ‘critical’ ‘support’ or supermarket, labourer on a low or unwaged there are more pensioners, mentaller ill and children adding to the burden to our health and welfare system. I guess they can fill up the housing as they don’t have many other options on low wages!
Enjoy living in Labeen’s battery hen style, 60m2 Sylvia Park ‘warm/dry’ apartment.
Choice of where and how to live, will be something for other people – just like having a private space, gardens and nature. Your vegetables and food will come via uber eats clogging up the roads as they ‘can’t find the staff’ to work the plentiful low end jobs that keep expanding in NZ.
A pharmacy in the bottom level, means you don’t have to go far to take your mental health meds, that you didn’t need to have, before this woke dream lifestyle was enforced on you.
So you dont mind slashing wages and forcing people out on the street?
Just wait until the tourism floodgates open! All 25,000 people living in motels will be living under bridges again!
??????? My entire premise is that NZ wages and conditions need to significantly rise so that people get ahead working in NZ and we don’t have a brain drain with working and professional class workers leaving NZ.
For many apartment living is what suits their life style. We need to build up not out if we want to continue to make good money off the land. Corporate landlords works in UK and would be easier to deal with than thousands of mum and dad investors who do not have the money to do repairs or the rights both parties need to abide by. Corporates may be tough but they have their name and image to think about so there is a check on their power
Corporate landlords works in UK …
that is a blatant lie and you know it trev and it’s set to get even worse as a result of brexshit.
If the promised 100,000 houses under KiwiBuild didn’t achieve anything, what hope of rapidly building 50,000 state homes……
Just think of the money for consultants, Thomas!
Don’t be a greedy renter, they need to spend millions/years to get it right. Sarc.
Government are also on their 3rd taskforce to find out why there is a growing waiting list for hospital surgery for example.
The majority of people can work out that increasing our population by 1 million in the last 10 years is going to mean there is a run on doctors and nurses,, a global pandemic that they have known about for 2 years now, paying doctors and nurses more, training more qualified doctors and nurses in NZ, reducing the non qualified medical staff that seem to be expanding in the NZ medical sector and taking all the time and money, are all pretty easy fixes, issues to work out.
But wait, they seem to be making this worse with more bad policy,
165,000 more NZ visas for new residents with zero age limitations – many doctors and nurses didn’t qualify because they were contractors for this visa.
Dumb lives Matter!!
Dumb policy Matters!!
Easy to just put a high wage visa limit of $100k, but then who will keep wages low and consumption high, for the neoliberals and rent the Sylvia Park rentals?
Is corporate rentals a bad thing though? I would rather be renting a place from a corporate landlord than some middle class “mum and dad” property investor that thinks that you should be greatful to live there.
A corporate landlord may even have cheaper rent, and will be able to remove anti social tenants while ensuring due process is protected (in other words, no tenants getting evicted for minor infractions).
Millsy it had to happen some time we agree on something. We stretched our selves to buy a rental but there was nothing left to fix problems .Fortunately we had nothing major happen that I could not fix myself. After a bad tenant we had had enough and got ride of the property as the new regulations started to come in .
The invisible hand of the market is attached to a muscular and wealthy arm (Robert Reich).