I Should Have Used a Property Manager!

By Morris and Co (Property Management)

A Wellington property owner has lost his nest egg to methamphetamine.  He handed over the keys to the Wainuiomata home he bought in the 90s, selling it for $230,000, well below its rateable value of $295,000, after discovering it was riddled with the drug.

“They’re just scumbags, they don’t deserve a roof over their heads. I worked all my life to buy property and pay the mortgage, the rates, and yet tenants can move in and do that kind of damage.”

He said it was a tough lesson to learn.

“If I was to do it again I would just accept the financial costs and get a property manager to police it properly and not try and do it myself.”

The new owner said drug use was just another risk landlords had to take on.

“You really don’t know what they’re doing to your property, any landlord really doesn’t know.”

Article taken from the NZ Herald

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