MODERNISING HOMES.

Auckland Star, Volume LXI, Issue 186, 8 August 1930, Page 6

MODERNISING HOMES.

A LANDLORD'S VIEWS,

(To the Editor.)

Whilst I do not wish to dampen the cnthu ,siasm of this well-meant proposal, I think it should be examined dispassionately f rom financial aspect. The pertinent question'is"Who is going to pay ?" I understand the owner, who is now* at his wit's end to find interest at current rates on first mortgage is to be asked to take up a second mort«aVr o which, as all business people know, is generally from eight to ten per cent, oil the off chauc> of his being able to let to tenants, who—p e *" haps—will pay. On the other hand, after incurring extra heavy liabilities by his second mortgage, the unfortunate owner may still have the experience of many other owners of to-day; rents unpaid, wilful damage, careless tenancies and even dishonest removal of fit- . tings. And for all these losses we owners have at present no redress, as it is only throwing ' good money after bad to take the matter to the courts. Our legislation is framed to pro-, - tect the dishonest and irresponsible tenant?* and we are now asked to run ourselves further into debt in order to help such people' ? for these people are everywhere—high and low! Again, Auckland is already overbuilt, and people are preferring modern flats; where are the fresh tenants to come from? It is only filling one place by emptying another, and' the unfortunate and hated landlord is beinn asked to foot the bill. Xo, thank you. If these philanthropists are willing to spend their . money and not ours in the venture it will he a very good thing for the unemployed, and we will not grudge them the credit diie to them. Whilst there are such absurdities as the Rtliit ' Restriction Act and other inane legislation capital will be very shy for many years'to come.' For who knows what will be next?' LANDLORD.