Managing Your Residential Rental Property:

The clouds are forming.  Anyone involved with managing residential property needs to understand this.

Housing was a key issue in the recent election and we have a new coalition government.  Changes are definitely coming.  They have indicated that renting will be more stable and healthy for families.  So changes are most definitely coming!

Are you aware of recent past changes to your responsibilities as a landlord?  The big issue last year was smoke alarms and all home/apartments should be meeting the standards.  Make sure you know how this applies to your property.

Changes to the rules about insulation are compulsory from 1 July 2019.  Savvy landlords are looking to meet these standards sooner rather than later.  They know there are only a limited number of quality insulation installers available.

Some landlords have left things to the last moment.  It is likely costs will increase as installers struggle to finish all work by the deadline.

What should you be doing right now?  If you are a first-time landlord make sure you get a Landlord Pack from Tenancy Services.  Under the Residential Tenancies Act 1986 it will tell you:

  • What protections and responsibilities you currently have
  • Tell you how to lodge a bond
  • How to keep track of rental payments
  • How to go about selecting good tenants and what you can do if your tenant breaches tenancy law

Landlords and tenants must both respect “quiet enjoyment.  Are you aware of the responsibilities you have towards your property’s neighbours?  Do you let your tenants know about their responsibilities?

What about your responsibilities for locks, security, repairs and damage?  Experienced landlords would be wise to ensure their practices are up-to-date and robust.

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And then there’s the rental property insurance minefield.  Are you aware of how your insurance policies work and what they cover (and don’t cover).  This includes requirements for regular inspections, detailed property reports and relevant photos.

Moving forward, what can you expect?  Healthy homes are warm and dry.  You need to make sure your rental property is well-ventilated and has heating.  Our view is that over time a heat pump will be the least standard.

A Warrant of Fitness for rental properties will likely soon be essential.  It would cover ventilation, insulation and heating requirements.

Your future options.  The reality of being a landlord is you are running a business with its risks as well as rewards.  Being a landlord is no longer a hobby or part-time job.

At Quinovic Parnell it is our job to keep up with what is happening in all aspects of property management.  Our expertise allows us to help our owners plan ahead and maximise investment return.

Our knowledge and experience allows us to assist our rental property owners mitigate risk
With proven systems in place we check and report on all compliance areas affecting your property and tenants.

Talk to Quinovic Parnell about partnering with us.  We are your specialists in residential property management.  We commit to looking after you and your property with both care and return.

Get in touch with Kerry from Quinovic Parnell today about us managing your Auckland residential property:

Get in touch with Quinovic Property Management Parnell

Quinovic’s Top Reasons to Move into an Apartment

The Auckland apartment market is growing, and each month we are offered more options to buy.

Is it time to review the pros and cons of moving into an apartment?

Key Questions You Should Ask Yourself:

  1. If I was to downsize from the family home and move into an apartment – could I keep the family home and rent it out?  What would the rent be and whom should we use to manage the home?
  2. What if I sold the family home and with those funds could I buy maybe one or two apartments and also have enough to buy another townhouse or apartment for myself?
  3. Or maybe I move into the holiday bach and rent out my new investment apartments/townhouse or home? What if I sold the family home and with those funds could I buy maybe one or two apartments, and also have enough to buy another townhouse or apartment for myself?

Auckland apartment lifestyle, rental property, Quinovic Parnell, Quinovic property management

  • Location, Location, Location:  Apartment living is all about your location – moving into the city or its fringe, will give you easy access to public facilities like libraries, art galleries, town hall, theatre and public transport.
  • More Affordable:  Your apartment can be more affordable – even with a body corp fee to pay.  Gone is the maintenance of the home, gardens, insurance, and maybe the removal of the balance of the mortgage.  This can mean you have funds left over to live your life as you desire.
  • Lock Up and Leave:  Travel is more affordable than ever.  With the ability to lock up and leave – you have the opportunity to just leave, knowing there is a building manager you can contact if needed – and who will also take an interest to make sure all is well, whilst you are away.  Escape the weekend or head overseas – you have choices, especially if you have downsized and now have some surplus funds.
  • Choice Over Facilities:  Always wanted a heated pool, spa, sauna or gym?  Choose an apartment that will supply what you want – and share the cost of running these facilities with the apartment owners.  It’s great when you don’t need to leave home, and have these wonderful facilities on your doorstep.
  • Share Costs:  Yes you have a body corp which runs the complex and it is wise to be involved and show an interest in how it works.  The advantage is you have like-minded people sharing the decision making and who help to keep a well maintained building – your new home.
  • Opportunity:  Apartment living gives you a chance to review how much of your money will be invested in the family home.  Should you take some of that equity and make it work in an investment home/apartment or townhouse – or do you just use it to travel and see the world?

If you are looking at property management of your investment – get in touch with Kerry Kirwan from Quinovic Parnell today on 0220 108 005.