Managing a rental property is a full-time job, governed by several laws you must oblige by. While most of us have a “can do attitude” it is almost always better to have a property manager. Some owners simply don’t have the time to handle the day-to-day operations of their own rental property. Whereas others simply don’t want to have to deal with tenants.  It is important to know just how much value a property manager can bring to the table.

See below a few benefits of having a property manager.

Marketing & advertising – A property manager will advertise and market your property to prospective tenants. This could be when your property is vacant or becomes vacant. A property manager will prepare listing information and photography.

Viewings – your property manager will hold viewings for your property for prospective tenants.

Less stress – Someone else is managing your property as well as the tenants so you don’t have to worry as they will do most of the work for you.

Dealing with tenants – After your tenants move in if they have any problems, concerns or questions they’ll get in touch with a property manager.

Below are some questions and answers to our most frequently asked questions from tenants.

Are utilities included in the rent? For our rent per rooms, WIFI and power are included in the rent.

How often will rent increase? Annually

When is rent due and how will you need to pay? Rent is due usually due weekly or fortnightly, this is discussed when signing rental agreement. Payments are made via bank transfer.

How many weeks’ notice do I need to give? For a fixed term it is a mutual agreement between tenants and owners. A periodic tenancy is 28 days.

How much bond and rent in advance do I need to pay? Bond is 4 weeks rent and rent in advance is either 1 week or 2 weeks in advance depending on your choice of payment schedule

When do I get my bond back? The bond is held with tenancy services and can take up to 15 days to be processed once sent away. Provided everything is okay with the property the bond can be processed after the final inspection.

Can I apply without viewing the property? We prefer all prospective tenants to have viewed the property before applying as photos can be very deceiving. Family or friends can also view the property on your behalf if you live out of town or cannot make a viewing time

Does the property come furnished? All properties that come fully furnished will always be listed in the advertisement. Most properties don’t include furnishings such as whiteware however, we do have some that provide these amenities. Again this will be mentioned in the advertisement

When do the wheelie bins get emptied? Subject to suburb location, click the link below and enter your address to find out which day is your bin day

http://www.wastenet.org.nz/RecycleRubbish/WasteCollectionSearch.aspx

A rental bond is a sum of money that a landlord can ask for as security against their property when a new tenancy starts. The bond money is held by Tenancy Services for the duration of the tenancy. When a tenancy ends, the landlord can use this money if any careless of intentional damage as occurred to the property during the duration of the tenancy. Also, if there is any unpaid rent the landlord can use the bond to cover these costs.

A bond can be up to the equivalent of 4 weeks’ rent and must be lodged with Tenancy Services. You as well as everybody else that signed the tenancy agreement will need to sign the completed bond form. As a landlord you need to lodge it within 23 working days.

Getting your bond refund is an easy process. Given that the tenancy has ended, an inspection shows everything is in order and there is no unpaid rent. Simply complete the bond refund form and send it away to be processed. Remembering everybody who signed the bond lodgment form will need to sign the bond refund. It can take up to 15 working days to refund a bond when a fully completed form is received.

You can lodge your bond online or download and complete a form. To view these options please follow the link below

https://www.tenancy.govt.nz/rent-bond-and-bills/bond/

Do you own an investment property? Do you manage your own investment but have been thinking about handing it over to a professional?

See below 10 signs that you could benefit from property management.

1. The tenant is constantly calling, texting or emailing you
2. You’re constantly organizing maintenance and repairs
3. You’re having problems with the tenant not paying their rent
4. The property isn’t being looked after as well as it should be
5. You can’t keep up with the tenancy law changes
6. You can’t find a suitable person to tenant your property
7. You’re not sure of the proper tenanting process
8. You aren’t keeping on top of regular routine inspections
9. It’s too difficult to keep up with the rental market
10. The relationship between you and your tenant is no longer professional

If any of the above apply to you and your current rental situation, give us a call. We’d be happy to discuss our services and how we can help you to achieve your investment goals.

As of February 11, 2021 there will be more changes made to the tenancy legislation. Please see below a summary of what these changes will involve.

Security of Rental Tenure- landlords cannot end a periodic tenancy without a reason by giving 90 days notice. New notice periods and termination grounds will be in place for periodic tenancies.

Fixed Term Tenancies- all fixed term tenancies will roll into periodic tenancies unless both parties agree otherwise, the tenant gives their 28 days notice or the landlord gives appropriate notice as per the termination grounds for periodic tenancies.

Minor Changes to Properties- tenants can ask to make changes to the property and landlords cannot decline if the change is considered minor. Landlords must respond to the tenants request within 21 days.

Rental Bidding- rentals must be advertised with the rent price listed. Landlords cannot invite or encourage tenants to bid on the property. I.e. pay more than the advertised rent amount.

Fibre Broadband- tenants can ask to have fibre installed and landlords must accept if it can be installed at no cost to the owner. Unless there are exemptions preventing installation.

Privacy and Access To Justice- a suppression order can remove names and identifying details from published Tenancy Tribunal orders if a party who has applied for a suppression order is successful or if this is in the interests of the parties and public.

Assignment of Tenancies- all requests to assign a tenancy have to be considered. Landlords cannot unreasonably decline. If a residential tenancy agreement prohibits assignment, it is of no effect.

Records- not providing a tenancy agreement in writing will be an unlawful act and landlords have to retain and provide new types of information.

Enforcement Measures Made Stronger- the regulator (Ministry, Business, Innovation and Employment) will have new measures to take action against parties who aren’t meeting their obligations.

Tenancy Tribunal Jurisdiction Changes- the tenancy tribunal can hear cases and make awards of up to $100,000. This used to be $50,000.

These changes can be hard to get your head around so if you have any questions, feel free to give us a call.

The reoccurring and often frustrating term ‘reasonably clean and tidy’ tends to leave owners, property managers and tenants in disagreement. As per the Residential Tenancies Act, a tenant must keep and leave a property reasonably clean and tidy. But what does that actually mean?

No where in the RTA does it specify what is expected from tenants when they refer to the term reasonably clean and tidy. Therefore, this can often lead to differences when it comes to routine and final inspections. Here at T And T Property Management we believe it comes down to the individuals discretion. But for owners, sometimes this can be very frustrating.

It is important to remember in this situation that everyone lives differently. How you or I may look after our homes may not be how some tenants look after their homes. If the properties are not dirty or damaged we need to leave the term ‘reasonably clean and tidy’ quite open.

If you have any queries or concern over the way your property is being maintained or has been left, feel free to give us a call. Again, the term ‘reasonably clean and tidy’ is down to the individuals discretion but we can give you our opinion.

Are you struggling to get your head around the Residential Tenancies Amendment Act 2020?

Don’t stress because that’s what we’re here for!

Tony and Chelsea have recently attended the RTA Amendments 2020 roadshow. We can now help you have a better understanding of the changes coming into effect in February 2021.

If you have any questions or want some more information please don’t hesitate to get in touch!

Are you wanting to know more about our services and how we can help you achieve your investment goals?

Feel free to get in touch, we’d love to chat about your place.

Tony

027 247 8736

tony@tandtpropertymanagement.co.nz

Chelsea

027 257 3766

chelsea@tandtpropertymanagement.co.nz

The Healthy Homes Standards became law on 1 July, 2019. The standards are a set of minimum requirements for the quality of rental properties in New Zealand. July 1, 2024 is the date that all rental properties must comply with the standards.

2024 may seem like years away and it may be tempting to push out addressing the standards until you are legally required to do so. But getting on top of the standards early may save you money and stress in the long run. Having an idea of what needs to be done early means you can plan, budget and avoid the last minute hassle before owners start risking fines.

How to prepare for the deadline:

1. Getting a head start– having an idea of what needs done is a good place to start. As your property managers, we will do our best to check that your properties meet the minimum requirements. If something needs brought up to standard, we will organize the quotes for this to be rectified.
2. Invest in a healthy homes assessment- a healthy homes assessment will assess your property against the standards. By employing the help of a professional to check calculations, this could prevent any costly mistakes. All that’s assessed is ventilation, draughts, heating, insulation, drainage and guttering and moisture barrier. As of December 1, 2020 you are required to have a document stating the current level of compliance for your rentals.
3. Keeping a clear record- it’s very important to keep a record of all compliance documents. Whether it be work that has been done or work that is still to be done. We document all compliance information regarding your properties in our system and hard copies on file. When in question this makes it easy to find exactly what we’re looking for.

Although the standards may seem like they’re always changing, we advise to stay on top of them. It can be easy enough to push it to the back of the mind thinking they aren’t required for a few years and before you know it everything needs done at once. Lets be proactive and save both money and stress!

On Saturday night, the team at T And T Property Management went and supported the Blair Vining Charity Hospital at the after match gala. It was a great night and for an even better cause.

Blair Vining fought for more equitable healthcare treatment in the Southland region before losing his own battle with cancer in October, 2019. He was an avid rugby fan, even playing his last ever game of the sport with stage four cancer. The Southland Charity hospital has been funded by the community, for the community. Once established, it will provide free services to those in the southern half of New Zealand. The aim is to provide care for those who cannot get care through the private or public healthy systems.

If you would like to show your support for the cause you can volunteer or donate via the link below.

Home