Having your property managed by a professional takes the pressure off and allows you to relax and own an investment stress-free. Let us worry about the maintenance on a Friday evening of a long weekend or rent arrears because your tenant has lost their job. It can be challenging for a private landlord to be objective about things when they develop a relationship with the tenant… with us, it is business, and we can deal with it professionally with your best interests at heart.
There are fixed-term tenancies and periodic tenancies.
Fixed-term tenancies are fixed for a certain period, usually 6 or 12 months. They can also be signed up to be renewed at the busiest renting periods so that they will become available at peak seasons. In a fixed term, tenants cannot give notice to vacate but can ask to be released early if they have special circumstances – The tenancy tribunal will rarely award an early release.
Periodic tenancies are on month by month basis, and tenants can give 21 days written notice at any time. The landlord can give tenants 42 days written notice if they wish to use the property for themselves or a family member. They can also give 90 days notice without specifying a reason.
This will depend on various factors; time of year, property condition and presentation and also the amount of access we have for viewings etc. We do run open homes as this can be advantageous; however, we pride ourselves on being available at our clients’ convenience. We always have very low vacancy rates as we begin to show our properties as soon as our tenants give notice, unlike other companies who wait until they have vacated. We always aim to reduce downtime between tenancies.
We have the ability to pay our landlords once a month, twice a month or weekly. This is often helpful when fitting in with mortgage payments. You’ll be paid by internet banking. This occurs on the 1st working day of each month unless another arrangement has been made for multiple payments.
Firstly we would take over management of the property immediately. We would need evidence of their rent payments.
(This can be as simple as your bank statements). Depending on how much they were in arrears, we would either send them a 14-day breach notice or make an application to the Tenancy Tribunal to have the tenancy terminated and get a money order for debt collection.
We have a very strict zero-tolerance for arrears policy in place at Ray White Parnell.
We also have login codes for both landlords and tenants, allowing access to accounts. This enables landlords to see all rent payments made by tenants and monthly payments directly to them.
There will always be a certain amount of wear and tear on a property, but deliberate damage or anything beyond fair wear and tear should be made good by the tenant or claimed from their bond when they are vacating. This is why routine inspections are so important during tenancies. They allows the property manager to assess the condition of the property and report any irregularities. This also enables the property manager to have evidence should they require it for a tribunal application if unresolved with the tenant.
We recommend 3 monthly inspections; however, we’re also happy to work on a 6 monthly basis. We find that a lot can change within 6 months, so three is usually best. We’ll photograph any maintenance issues that we feel require some attention or need to be monitored for future maintenance. Records of these are kept on file for our reference and, when necessary, emailed to you along with a detailed inspection report.
We recommend that you speak to your existing insurance company and inform them that your property is now a rental. We inform tenants that it’s their responsibility to have full contents insurance.
Rent increases can only occur once every 12 months, and any rent increases cannot occur within 12 months of the tenancy start date or within 12 months
of the last increase.
Your property manager will advise a suitable rental figure before any new advertising begins and is also responsible for regular rent reviews on existing tenancies to ensure that your return is always maximised.