Landlord Multiplies Rental Income and Expands Future Possibilities
Utilising rental property to full effect.
Mike and Sonya owned a rental property in Howick. The property comprised a three-bedroom home and one-bedroom minor dwelling, together on 1,000m2. While the property was providing the couple with a regular rental income, Mike and Sonya knew that with a section of this size, in such a popular Auckland location, the property’s true earning potential was likely to be considerably larger.
Mike and Sonya took their time investigating possible build partner options. They researched online and consulted with others on which build companies may be worth approaching. They’d heard the name ‘Ashcroft Homes’ mentioned a few times so when they saw Ashcroft had a stand at the Auckland Home Show, they called in to meet the team.
It was there that Mike and Sonya asked Ashcroft Homes Property Consultant, Josh Healey to consider their property’s development potential. After reviewing the site, Josh suggested the couple consider knocking down the larger home while retaining the smaller dwelling. Under this scenario, Ashcroft could replace the one larger home with three brand new homes and these, together with the existing smaller home, would allow the property to be subdivided into four new titles. And the smaller, existing dwelling could continue to earn rental income throughout the property’s development.
Josh suggested two 3-bedroom Lutons be added to the site (in a duplex configuration) along with a four-bedroom Belford. This would dramatically increase the rental income from the property and with each home being on an individual title would provide plenty of options for the future. Mike and Sonya could retain all four homes or sell one, or more as it suited him. The couple appreciated that this configuration would provide excellent rental yield and the separate titles would provide future flexibility while also reducing the overall project risk.
Mike and Sonya were impressed with Ashcroft’s affordable build costs and efficient construction timelines. The fact that Ashcroft would manage all aspects of the development from consents to construction to subdivision was the deciding factor in their decision to appoint.
Ashcroft Homes completed the project and handed over the keys in June 2020.
Ashcroft made the process so easy, we could carry on with our lives knowing that the building process was continuing. They were open to our ideas and made suggestions that were in line with our vision. Houses completed, tenants in, job well done. We have recommended Ashcroft to others and would happily use them again for any future projects.
Mike and Sonya
More Clients
A House to Call Home… Home of the Year!
David and Aimee were looking to build a new home for their young family. The couple owned a large site in Mt Albert which contained an existing weatherboard home. They planned to move this home to the rear of the site and build a new home on the front. With Aimee’s father being a builder himself and a member of the Master Builder Association, they knew they had a great sounding board to help with their decisions.
Landlord Building Future Income Stream
Tod Verney is an experienced landlord, owning several rental properties throughout the Auckland region. When changes to the Auckland’s Unitary Plan were introduced, one of Tod’s rental properties suddenly enjoyed significant development potential. This site in Te Atatu Peninsula originally comprised of one four-bedroom home.
Turning Grass into Gold!
Tom Tang and his wife Li Zhang had owned a large family home in Epsom for many years. They loved their home and the location. But once their children had grown, the garden was no longer getting the use it once did. The couple contemplated selling but were reluctant to move from the home they’d treasured.