No longer will landlords and property management companies be able to get away with poor landlord behaviour. That is the message from the Ministry of Business, Innovation and Employment (MBIE), the government agency responsible for tenancy services in New Zealand. The warning shots follow an audit of five separate property management companies across the country which found varying levels of compliance in some of the most basic requirements of being a landlord, namely insulation and smoke alarms. Landlords and property managers are now being put on notice that it is imperative that they ensure compliance is a number one priority, or face the consequences.
Everyone has heard it before. You can’t make a second first impression. The same is true of your property. In an age where potential tenants have access to hundreds of properti es in the space of minutes online, there has never been a more important time to find innovative ways to stand out.
While most property managers are well versed in the intricacies of the Residential Tenancies Act (RTA), the nature of the beast is such that it can strike fear into anyone summoned. Needless to say, the chance to avoid tribunal is welcome and some would suggest, easy to do.
However even the most competent landlords can find themselves on the wrong side of an adjudicator. Here then is everything you need to know when it comes to keeping out of tribunal.
Tenants nowadays are more educated on the RTA and are familiar with the obli-gations of landlords. There is a common misconception that tenants are happy to live just anywhere; tenants want warm, safe, comfortable homes to live in.
100 million users worldwide are now using AirBnb to find temporary accommodation, and your tenants might be profiting from it. In a case believed to be the first of its kind, a Wellington couple were deemed to be in breach of the Residential Tenancies Act when it was discovered they had sublet their property without the knowledge of their landlord or property man-agement agency, pocketing a tidy $1,568. They have since been ordered to pay $1,300 to the landlord. Tenants are see-ing dollar signs with Airbnb. Here’s what you need to know about Airbnb and your rental property.
Since its inception in 2008, Airbnb has become to short term accommodation what Uber has become to taxis.
Landlords beware! Reports show that there is one methamphetamine case hitting tenancy tribunal every week. It is currently one of the biggest threats to the returns of your rental property. Like most things that we’re worried about however, our fear stems mostly from a lack of understanding. So what do you need to know about crystal meth and the implications of someone using this harmful drug in your rental property?
With Wellington’s rental market as hot as ever, there is no doubt that investors will be jumping for joy. The rental market in Wellington has risen 6.8% in the past twelve months and indications are that the market shows no signs of slowing down. With the influx of students descending on us, and a larger portion of people renting for longer before buying their fi rst home, it is no surprise that demand is outweighing supply. Needless to say, landlords across the capital are moving with the market and adjusting rents as new tenancies commence, with the average price in Wellington now rapidly approaching $500 per week. Irrespective of whether you are investing for the first time or are a seasoned investor, the landscape is changing. The role of managing property is now becoming more and more regulated.
The well headlined requirement of landlords to install insulation by 1st July 2019 being but one example of this. However, not all legislation requires costly modifications for landlords. A ground-breaking case could be precedent setting and put more emphasis back to the responsibility of tenants. The long-awaited verdict of ‘damage by dog urinating’ appeal case has been revealed and landlords and property managers nationwide have recorded a win.