Carmen Hall: Why I wouldn't want to be a landlord again

Being a landlord is not it's cracked up to be sometimes. Photo / Getty Images

OPINION

In theory, it all sounds like an easy way to make a buck, especially if you are thinking about funding your future retirement.

Granted, nowadays, with skyrocketing house prices and loan-to-value restrictions, it's almost impossible to buy a second home and become a landlord.

But mum-and-dad investors still make up a large portion of the landlord mix, and good on them. They are providing rentals in a market where supply continues to outstrip demand.

The Government is not even making a dent in the state housing waiting list. Figures from the Ministry of Social Development show there are 741 people in the Rotorua District and 675 in the Tauranga City/District on the register.

Rents have also gone through the roof and, according to the latest TradeMe data, the average Bay of Plenty rent in September was $570 a week - up 9.6 per cent from the same month last year.

This sounds like landlords are making a fortune, doesn't it?

Landlords are never far from the news. Earlier this year, Tauranga Property Investors Association president Juli Tolley said the biggest challenge was the abuse they faced from the public.

The messages have bashed the hell out of people that dared to save and work extra to get ahead and save for retirement, she said.

A week ago they made headlines again as they felt that tax rules, which have stopped them from claiming interest on their mortgage as an expense, were unfair.

A loophole that provided exemptions for new builds, properties leased to community housing providers for public, emergency and transitional housing caused outrage.

Rotorua Rentals director Pauline Evans called the move ''a massive bribe'' and an incentive that could endanger the tenancies of working families.

In my view, this is a tricky topic because landlords are providing a vital service and have a point.

In the past, due to relocating for work, we rented out our home for more than a year through a property management company.

Unfortunately, that went pear-shaped due to issues with a tenant. We sold the house but it ended up costing us money for repairs and it was a stressful experience.

So I take my hat off to those who still have skin in the game - but I wouldn't want to be a landlord again.