Property Management

It is common to see rental properties having additional sleep outs which, for a few property owners, have been converted to self-contained units for the purpose of getting higher returns. Even though this may work for some landlords there are important issues that need to be considered. Read on and we’ll explain.

The Residential Tenancies Amendments Act 2010 has seen an introduction of various new unlawful acts. These inclusions also raise the monetary jurisdiction of the Tenancy Tribunal from $12,000 to $50,000. The new inclusions are forecasted to take effect approximately 1st October 2010.

Greater Protection for landlords and tenants

Post a thorough review the Residential Tenancies Amendment Act officially passed in to law at the end of July 2010. It is the product of years of review and is welcomed by many in the property management industry who all agree there is a requirement for additional clarification and balance between the rights and obligations of both landlord and tenants.

The focal point of the changes provides greater protection for landlords and tenants. This includes lengthening the Act to include more tenancies such as boarding houses and introducing more obvious guidelines for the termination and renewal of tenancies.

Property Management: The Importance of Smoke Alarms

There is no doubt that smoke alarms save lives and reduce the number of deaths caused by fires in homes. According to the NZ Fire Service, smoke alarms were either not installed or not in working order in 80% of house fires they attended last year!

There is huge interest and debate about whether property owners should be required, by law, to supply smoke alarms for their rental properties.

The Residential Tenancies Amendment Bill 09 is intended to provide better protection to both Landlords & Tenants. For some time now the industry has acknowledged that there is a strong necessity for change and the proposed changes are looking to deal with the following;

Fair wear and & tear is the ongoing deterioration of aspects of a property which has resulted NATURALLY or from AGE. Allen Realty property managers examine all properties regularly and at the end of a tenancy to spot fair wear and tear and/or damage.