PROPERTY RIGHTS

New Zealand Herald, Volume LXXV, Issue 23206, 28 November 1938, Page 14

PROPERTY RIGHTS

Sir," —Although not attempting to dispute tho merits or otherwise of the Fair Rents Act as applying to business premises, as referred to in Friday's Hkraj,d, I am perforce, as a property owner, bound to ask a few questions for the enlightenment of others who, like myself, aro somewhat hazy on one or two points referred to in the column. Tho' column goes on to say thatiMr, Bull, obviously the organiser of thq petition, points out that "landlords had their real rents further reduced by the fixjng of the foreign exchange rate which made the New Zealand pound equal to 16s of its former normal value;'' I would be interest to learn the effect, if any, foreign exchange had upon New Zealand property when the property was already built by our own local labour, local material used and paid for before the slump. If the exchange were to be reduced to another similar rate, I cannot quite see how it has, or would, affect one's property investment. Further, do I understand that hotels, already under lease or managership, will be included under the Fair llenU Act if such Act should apply? If so, why? AiiX..