In this episode, we discuss a new announcement from the Ministry of Social Development. In this announcement, the government will give up to $4,000 to tenants who are in rent arrears, who can't pay their rent and who are at risk of being evicted.
This money needs to be paid back by the tenant, which has the effect of transferring the liability from the landlord to the government. This should make landlords feel much more comfortable because they'll know that if worst came to worst there may be another option.
Not everyone will have this loan approved, however, and Work and Income New Zealand will make a judgement call about who they will and won't approve based on income and the value of assets held.
We then wrap up by mentioning our upcoming property investment webinar, where we will honestly dissect the arguments for and against ongoing house price inflation occurring in New Zealand.
The Property Academy Podcast