We encourage all of our Owners to attend at least one inspection per year, as it’s a really great opportunity to catch up with Anne and have answered any questions you may have, and to also have a look at the property to discuss any immediate concerns and /or future recommendations....
Can you believe that we are now only 4 weeks away from Christmas! While most of us look forward to the festivities and a bit of a break, unfortunately when posed with the question “Should I buy presents or should I pay rent?” some Tenants choose the former and as such Christmas can be a notorious time for tenants to get behind in their rent.
|One of the main frustrations of being a landlord is something called ‘rental arrears’.
Pedersens Property Management rental arrears for last week was 0.65%, in this article we talk about how we keep our arrears at record lows with good Tenant selection and a very strict and hands on process for handling any Tenant that does get into arrears.
The Residential Tenancies Act states that rent must be paid in advance (one or two weeks depending on your Tenancy Agreement). Having to chase your tenant for the rent is very read full story
|There is a general opinion amongst investors that tenants with pets are less desirable than tenants without pets.
Most investors would be surprised to learn that tenants with pets are typically better to have at a property than those without (subject to the tenant being suitably screened and pet references gained). Other matters such as desexing are also ideal. If the pet is a dog, will it be housed outside? Is the pet regularly treated for fleas? These factors must be considered.
So, why are tenants with pets desirable? Many pet owners display a high sense of responsibility, are generally appreciative of the fact they have read full story
|Fair wear and tear cannot be truly defined as there are too many variables to be considered. A case by case review is required taking into account the length of the tenancy and the age and condition of the property.
Another variable to be considered when making a judgement call on a wear and tear issue is the impact on the ongoing condition and rent being achieved for the property.
Dents or holes are most certainly more than fair wear and tear and should be treated as such.
It is often a good idea with wear and tear to have a general review and tidy of multiple minor matters on a 2 yearly basis to ensure the property is kept to a high standard. For example; organise a tradesman to come through after a tenancy is finalised and do an all-round service of wear and tear issues. Limitations with specific clauses relating to hanging of hooks or the use of blue-tak on walls should be used to minimise wear and read full story
|Do you arrange credit checks on your tenant? Credit checks should be a foundational consideration for an application for tenancy.
The two most common companies used for tenant checks in NZ are TINZ and Veda Advantage. TINZ is affiliated with and specific to the property management industry in NZ. The TINZ database is by far the better credit check agency for tenant checking, but you can’t access read full story
|Is the suburb that you are reviewing to invest in average to below average in cost? Does that make it an unsafe suburb in which to purchase a rental investment?
Here are a couple of key thoughts to consider; are you planning on holding onto the investment long term? Can you speak to your property manager about current returns and the calibre of tenants for the area?
Some suburbs are bargain suburbs – simply because they are held back by social economic factors, distance from the CBD, are on outer edge of suburbs that have increased read full story