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.

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When it comes to investment properties, many owners bear a can do attitude. The idea of paying fees puts a lot of owners off using a property management company. But what most people don’t realise is how time consuming and involved managing a rental property can be. Below is a break down of the common day-to-day tasks of a property manager.

Liaising With Tenants- once a property is tenanted, any problems, concerns or questions the tenant has will go to the property manager. If you use a property management company, we recommend all contact with the tenants to be kept between the property manager and tenant.

Doing Inspections- when owning an investment property it is important to do regular checks. For most insurance companies inspections at least every 3 months is a requirement. The property manager will organise a date and time with the tenants to do the inspection. The purpose of regular inspections are to make sure the tenants are taking care of the property and stay on top of maintenance.

Maintenance- the property manager may notice maintenance issues during inspections or the tenant may notify the property manager of any issues. The property manager will organise trades people to assess these issues right away if urgent. If the issue is not urgent the property manager will run the issue past you first. It is important to stay on top of maintenance to preserve the life of your property.

Setting Rent- setting rent involves evaluating the rental market and your property in order to maximize your return. If the rent is set too low you’re leaving money on the table. If you set it too high the property will be difficult to tenant.

Marketing The Property- when your property is vacant or becomes vacant the property manager will need to advertise. This involves taking and editing photos and listing the property on all necessary channels.

Selecting Suitable Tenants- picking a suitable tenant for your property can be a difficult task. A property manager will assess each application received and narrow them down to a tenant they think will be most suitable for your property. The process involves checking references, credit checks and ensuring the prospective tenant or someone on their behalf has viewed the property.

Tenancy Agreements- the property manager will arrange a time for the tenants to sign and fill out the tenancy agreement. This is a legally binding document outlining the terms and conditions of the tenancy. A copy will be sent to both you and the tenants and another kept on file in office.

Tenancy Tribunal- in the event that the tenancy tribunal needs to be involved, the property manager will attend and act on your behalf to try and resolve the issue.

When it comes to renting, insurance is beneficial for both owners and tenants. Landlords should insure their properties against any damage. Tenants should get insurance to cover their belongings and protect them from liability.

Landlords require rental insurance. Most policies will cover tenant damage and some will cover vacancy periods. Insurance companies will usually require frequent inspection reports in order to claim for any damage. This is why we recommend 3 monthly inspection reports. Landlords must provide their insurance information in any new tenancy agreement including the excess amount. If the property is not insured this still needs to be written in the tenancy agreement. Ensure you thoroughly read your insurance policies to see exactly what is covered.

Tenants should insure their belongings when renting, as the landlords insurance does not cover this. Tenants can also now be held liable for damage to the property. If tenants or their guests cause careless damage to the property they will be held liable for up to four weeks rent or the landlords insurance excess, whichever is lower. Tenants should look into contents insurance to cover their belongings and personal liability insurance to cover them in certain situations.

For any questions regarding landlords or tenants insurance be sure to ask your insurer. It is important that you are familiar with what your policies cover and for different situations.

A vision statement is an aspiration that a company would like to achieve in the mid or long term. At T And T Property Management, our vision statement is ‘to be the go to property management team in Invercargill.’

We take pride in what we do. Helping owners achieve their investment goals and tenants to find suitable housing. Our vision statement will be the end result.