FLAT RENTALS
RETURN ON INVESTMENT LANDLORD’S CLAIM FAILS (P.A.) AUCKLAND, July 5. “ If the practice has grown of adopting a 5 per cent, return to the landlord in the case of flats, instead of the 4J per cent, allowed the landlord of the ordinary dwelling house, then I prefer not to follow it in this case,’ said Mr L. G. H. Sinclair, S.M., in a reserved judgment this morning on a claim heard on June 14 under the Fair Rents Act by Herbert Friedlander, landlord of the Mayfair Flats, who asked that the rent of thfe fiats should be increased to allow him a 5 per cent, return on his investment. The claim was opposed by 30 tenants. The magistrate said that he would allow the usual 44 per cent, return and also £612 for administration and services, compared with the £415 shown in December, 1942. It had been stated that the applicant was a refugee alien who had acquired considerable means during the nine years he had been in New Zealand, the magistrate said, but it would be wrong' to fake into account the fact that the landlord was an alien. He was entitled to exercise and enjoy a property owner’s rights as if he were a British subject.
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Bibliographic details
Otago Daily Times, Issue 26197, 6 July 1946, Page 8
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210FLAT RENTALS Otago Daily Times, Issue 26197, 6 July 1946, Page 8
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