RENTS INCREASED
Surprise for Tenants of Homes Built Through State Advances
MORTGAGE CORPORATION ACTS PURELY BUSINESS MOVE (By Telegraph—Press Association.) WELLINGTON, To-day. Considerable resentment is felt by tenants of certain dwellings bnilt on State advances mortgages at the notification of the Mortgage Corporation that their rent is to be increased. Inquiries in official quarters disclose that the readjustment applies to dwellings abandoned by the original mortgagor, who ) though no longer in possession, is still liable under the personal covenant provision of the Mortgage 'Corporation Act' as the mortgagee in possession, and its duty is to manage the property in the best interests of the mortgagor. The corporation is not th© owner of the properties, as the State Advances Department never built the houses to let. It- was stated that whatever rises had taken place were in conformity with the existing market rates. Many State Advances houses were let at unremunerative rents irf relation to the original mortgage, and the readjustment was purely a business move.
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Bibliographic details
Hawera Star, Volume LIV, 4 September 1935, Page 8
Word Count
165RENTS INCREASED Hawera Star, Volume LIV, 4 September 1935, Page 8
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