Keeping Your Rental Property in Good Shape

There is already a lot going on for residential property investors when it comes to maintaining their properties to an acceptable standard.  Are you aware there big changes?

From 1 July 2019 all rental properties are required under legislation to have ceiling and underfloor heating, with EECA, the government agency responsible for energy efficiency and conservation, being tasked to promote the government’s Healthy Homes Programme.  Investors who own rental properties need to stay up to date with their legal obligations, EECA’s websites are definitely worth reading.

Below are a couple of links to websites you could check out:

Setting up your rental property in advance of this increasing compliance focus gives a strong foundation for not just keeping it in good shape, but also in protecting those who live in it, and you as their landlord.  There will always be a cost to do this, however if ignored the cost can be much greater.

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There are obvious day-to-day things that are front of mind when it comes to a healthy home including:

  • Keeping your home warm and dry
  • Saving on power bills, etc

However, there are less obvious aspects that can be overlooked, especially after a property has been rented for some time.  No one wants to wake up to the news that their property has been the cause of a tragedy.

Here at Quinovic Property Management Parnell, we take our responsibilities to look after our tenants very seriously, and this includes having robust systems in place to make sure ongoing maintenance is taken care of, such as:

  • Electrical and gas work is properly certified
  • Appliances are serviced regularly
  • Heat pumps are cleaned regularly
  • Chimneys are checked and swept regularly
  • Smoke alarms are checked and serviced
  • Insulation meets the required standards

As well as the primary focus being the safety of tenants and their families, our maintenance programmes reduce the risk for landlords, including where there are any insurance claims, that these are approved.

For more advice or information about our residential property management services, follow the link below to get in touch with Quinovic Property Management Parnell:

Quinovic Property Management Parnell

100% Focussed on Your Investment Property

Why should you let us manage your investment property?  The answer is simple … we are specialists in the field.

 At Quinovic Parnell our 100% focus is your investment property. We will not try to coerce you into selling your property, and we do not treat property management as a sideline business. Property management is our business.

 Our property managers are trained to align their interests with your own. They are paid for minimising vacancies, maximising rents and for sourcing only the highest quality tenants.

 That is what makes our property managers so different.

 You will have a dedicated property manager who will be responsible for every aspect of your property. The added convenience of this personalised service means your single point of contact will answer any of your questions and deal with any issues that may arise. You will only have to deal with one person in order to access our full range of services and resources of the team. Your property manager is also only one step from the business owners whom you are invited to meet at any time.

 Our people, experience and commitment to excellence ensure your investment property is managed to the highest possible standard.

If you want the best return possible on your investment property call us for a management proposal and rental appraisal.

Why do you want to rent out your residential property?”

Why do you want to rent out your residential property?”

You will have your own specific reasons for wanting to rent out your residential property.  It may be that you are a property investor, or you may just want to rent your family home while you’re overseas. Your motive could be to create a legacy for your family, a retirement “nest-egg”, a vehicle for financial leverage, or just to have your home looked after and costs recovered.

Whatever your motive, you will need to consider your property rental as a business. The first “rule of thumb” in any healthy business is to keep costs down. This can be achieved by reducing maintenance costs, minimizing vacancies and having no arrears of rent. Secondly, income must be maximised. Rentals should be received by you as soon as they are paid by tenants; your rents should be properly reviewed on a regular basis to ensure that a fair return is being achieved on the investment. This will have the effect of maximising your returns and cashflow. A third consideration for any successful business owner is accountability and reporting. You should have access to financial transactions online in the same way that you are able to access information from your bank or other financial institution. This speeds up the decision-making process. Fourthly, profitable businesses rely on reducing risks immediately. This is achieved by being able to access specialist advice at short notice e.g. on the Residential Tenancies Act or any other legal advice from professionals who are only a phone call away. Detailed photographs of the property, accurate lists of chattels and regular inspection reporting will resolve any problems which could arise between landlord and tenant. Prompt advertising of the property well in advance of the current tenants leaving ensures that the you don’t suffer from loss of rentals due to vacancies.

 At Quinovic Parnell we treat all of the properties that we manage as individual businesses and we strive to achieve all of the four criteria above to maximise your profits, and minimise your costs and risks. In addition, we ensure that your “business results” are communicated in a timely and accurate manner so that you will feel comfortable that your property investment business is being watched and monitored very carefully.

Call Quinovic Parnell today on 09 373 4353 or email enquiries@quinovic -parnell.co.nz

for a complimentary rental app raisal of your property.