Buying and renting out an investment property is a big decision. It's easy on the surface but there are many things to consider:
- The type of property and the best location
- The changing rental market
- Choosing a tenant
- Tenancy laws
- How much and where to spend money to maintain your investment
- The amount of your time which will be taken up.
Our Professional property managers work in your best interests. When they manage your property they will:
- Take responsibility for tenanting it and manage the relationship with the tenant
- Ensure that rent is paid on time and in accordance with the tenancy agreement
- Ensure the maintenance of your property is kept up-to-date
- Act on your behalf so that you have an arm’s length relationship with the tenants. This is particularly useful in any negotiation, review or termination of tenancy
- Maintain a comprehensive knowledge of legislation that may affect your investment
- Keep you informed.
As an investment property owner, you want to know that your property is being managed by a team of professional, ethical and caring people. This is what Professionals strives to achieve for all of their investment property owners (Landlords). Professionals can offer you a personalised service, from purchase through to finding a quality tenant who will treat your property as their home.
Obligations - A landlord must:
- Give the tenant receipts for rent if the tenant pays in cash.
- If asked, give the tenant a statement saying what period the rent paid relates to.
- Give the tenant 60 days written notice of a rent increase.
- Give the tenant 48 hours notice of an inspection.
- Give the tenant 24 hours notice of entry to make repairs.
- Inform the tenant of any intention to sell the property.
- Make sure the locks and fastenings are working and are adequate.
- Make any necessary repairs within a reasonable time period.
- Reimburse the tenant for any urgent repairs required (providing the tenant attempted to notify the landlord before proceeding).
- Make sure the property is clean and in a fit and habitable condition at the beginning of and during the tenancy.
- Pay all outgoings; rates, insurance, land tax etc.
- Take reasonable steps to ensure that tenants aren't disturbed by the landlords other tenants.
A landlord must not:
- Ask for more than two weeks rent in advance at the start of the tenancy.
- At any stage during the tenancy, ask for more rent in advance to be paid.
- Inspect the property more than once in four weeks, except as allowed for to check on work done by the tenant.
- Harass the tenant.
- Interfere with, or allow others to interfere with a tenant's reasonable peace, privacy and comfort.
- Interfere with the gas, water, electricity supply or telephone.
- Unreasonably withhold permission for a tenant to sublet or assign the tenancy to someone else if not prohibited by the Tenancy Agreement.
- Change the locks without the tenant's consent.
- Enter the property except as permitted by law or with the tenant's consent.
Contact our office to find out more about renting through Professionals.
You can find a lot of information for landlords on the Department of Building and Housing’s website: http://www.dbh.govt.nz/landlords-index
If you need further assistance while looking to rent or renting your property, please contact us.