Here are some life-changing hacks that every landlord should know.

Create office hours

Whether you’re managing one rental property or a dozen, being a landlord can easily become a 24/7 job. Failing to manage your time could lead to you becoming burned out and making more mistakes.

To better manage your work/life balance, consider creating office hours and including them in tenancy agreements. That way, your tenants will always know when to contact you and you can rest easy knowing you won’t need to deal with requests at odd hours.

Keeping your tenants happy

Keeping your tenants happy is essential if you want to keep the money coming in. Building a healthy relationship and keeping on top of any complaints are great ways to keep tenants happy, but there are smaller things you can do to set yourself apart from other landlords.

Little things like sending a birthday card or regularly asking for feedback will make your tenants feel valued and can help ensure a long and fruitful relationship.

Store important documents on the cloud

Keeping important documents and records safe is essential. While it’s always a good idea to keep physical copies, you should also store digital copies on cloud servers. This means that, in the event of physical documents getting lost/destroyed, you’ll always have the important information on hand.

Buy appliances on sale

An easy way to save money when furnishing a property is to bulk-buy appliances on sale. Appliances regularly go on at various points sale throughout the year, such as Black Friday and New Year Sales. You can also buy second-hand appliances, which may have some slight cosmetic damage but would otherwise work perfectly.

Omni Property Management are professional property managers based in Auckland. To find out more about how we can help new and veteran landlords, contact us today.

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1) Time management

One of the main perks of working with a property manager is the time savings landlords will get. This extra time can then be used for other areas of their business, or even for rest. Landlords won’t have to deal with time-consuming tasks such as screening tenants, collecting rent, conducting repairs or creating and implementing advertising for the property.

2) Easy oversight

When landlords attempt to manage their own property, it can often lead to them struggling to keep track of everything which is happening. This can cause bigger issues such as late rent, repairs staying unfixed, and tenant disputes. By hiring a property management company, you will always have someone available who can take responsibility for overseeing all of these issues on more, on your behalf.

3) Peace of mind

By hiring a property manager, you will be provided with peace of mind that your property is in good hands. This can benefit your business and personal life in many ways because many stresses will be taken away from you. This leaves you free to focus on other important things, whether that be business related or in your day-to-day life.

Hiring a property manager will benefit your business massively. If you are a landlord seeking property management services then look no further than Omni Property Management. Here at Omni, we’re committed to approaching property management with fresh eyes while delivering a higher standard of service at competitive, no-surprise pricing. Drop us an email at enquiries@omniproperty.co.nz or call us on 02041789787.

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They pay on time

It can be incredibly frustrating when you’re dealing with a tenant who is consistently late with payments. Provided that you’ve given them a clear schedule of when to make payments, having a tenant who consistently pays on time will save you a lot of headaches and allow you to effectively plan for the future.

They regularly communicate with you

It’s vital to keep regular communication with your tenants in the event something unexpected happens. Unexpected events could mean that your tenant may not be able to pay on time this month, but as long as they’ve notified you ahead of time you will be able to plan ahead. Similarly, tenants that immediately notify you if there’s an issue with the property, or if it will be empty for a while, are worth their weight in gold.

They are accommodating

Regular communication is vital, but a healthy relationship with your tenant involves being respectful of each others’ time. This means that you shouldn’t have to worry about calls at any hour of the day, and that you will be able to access the property to inspect or carry out repair whenever it is convenient.

They’re good neighbours

A good tenant is one who will be respectful at all times- not just with you, but with their neighbours. This involves being respectful about noise and keeping communal areas tidy. A tenant who won’t be causing any trouble will give you peace of mind.

Do you need help with rental property management in Auckland? Get in touch with us today to see how we can help you.

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The pro’s

Since our default position traditionally has been to have a no pets policy due to all the “problems” caused for landlords, you may not be as familiar with the benefits of allowing your tenants to have pets. Here are some reasons below:

• You automatically get a larger prospective tenant pool
• Tenants are more likely to have a longer tenure, as its more difficult to move again to a pet friendly property
• Responsible pet owners are responsible tenants. If they can take care of an animal, chances are they’ll take care of your rental
• There’s a chance you may be able to charge a premium price which with today’s ever increasing interest rates, can make all the difference
• Allowing pets will help create a good tenant-landlord relationship, which is beneficial to have when / if future problems arise.

The con’s

We are all familiar with the problems pets can cause, I’ll revisit the main ones below:

• Pets can do damage, especially un-trained ones.
• Disruption to neighbors. Dogs barking, birds squawking and roosters waking everyone up! This can all create issues
• Pet odors

In my opinion, the positives of allowing pets far outweighs the negative. However I would suggest, as you do with prospective tenants, you vet (no pun intended) the animal and get reference checks from third parties such as trainers or previous neighbors.

Jackson Farron

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With interest rates increasing and inflation at its highest level in over 30 years, the property boom has come to an end. There are many more rental properties entering the market now, as owners who would typically sell have instead opted to rent their properties out, and weather the storm of the downturn.

Due to COVID restrictions over the last few years, there has also been an accumulation of young people with plans to head overseas for OE’s, as well as to seek the better opportunities out there. Meanwhile immigration remains slow for people coming into NZ for similar reasons. As all these people leave their rentals to go overseas, they are not being replaced, and landlords are now competing for a smaller group of tenants.

Landlords need to ensure that their properties stand out if they want to be competitive in this slower rental market. The properties need to be well maintained, presented as quality, and marketed professionally. Healthy homes compliance also plays a big part in this as tenants look to take advantage of their options.

If you are looking to rent out your property to tenants, it is advised now more than ever to be using a professional property management company who can assist you in getting ahead.

Hayden Walls

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As it stands, anyone can set up a business as a property manager with zero experience or qualifications. They don’t need insurance, nor do they need to put their clients rent through a trust account. All this responsibility, with lack of regulatory oversight, puts property owners at risk. There are several horror stories out there of negligent property managers failing to distribute funds and using them for their own personal gain. The proposed legislation could prevent things like this happening, while also shining a much-needed light on the reputation of property managers New Zealand wide. Even though the level of oversight should be put up for debate, I think it is widely accepted throughout the industry that this regulation is long overdue. It would appear to benefit the whole picture, from tenants to property owners, and let “proper” property management companies such as ours move forward with confidence.

Jackson Farron

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It can be very tempting to manage your own property and save on a small amount of management fees. However, poor management and limited knowledge of legal procedures can lead to big problems. You must be prepared for the responsibility of marketing the property, finding good tenants, collecting rent, regularly inspecting, and dealing with maintenance issues and disputes. The time you save using a good property manager can offset the cost quite fairly. It just comes down to research and identifying value.

We are always advising new clients to investigate the fine print of a management authority and try to weigh up the value being offered. Are there any other costs that you will bear by signing up with this company as opposed to another company? Double check that the pricing matches exactly what the company has offered you in either an email, a rental appraisal, or over the phone. Common costs that landlords sometimes miss are the extra charges for inspections, marketing and advertising fees, or sometimes tenancy tribunal fees when extra work is required.

Maintenance fees are also underestimated. A landlord should expect to spend anywhere between 4-12% of their annual incoming rent on repairs and maintenance. This could be even higher if the property requires immediate healthy homes compliance. If your property management company has a high fee for organising repairs and maintenance, then your outgoings will be expected to be higher at some points in the year. All these things can exceed what is usually thought to be a straightforward fee structure and a percentage deduction of weekly rent.

I had a situation recently where I met a potential client at their rental property during the process of appraising it. This potential client expressed their worries about being able to afford the service due to all the financial pressures the government changes presented. I asked what price they recently had it tenanted for and what they had in mind for advertising it now. They told me what they were expecting and I took that into account when appraising the property. As a property manager who was familiar with the area, and the demand seen at that time of the year, I appraised the property and found there was a chance to not only get what they wanted, but also to cover our weekly management fees on top of this. I presented the prospective client with the appraisal and asked for the opportunity to provide our service based on successfully tenanting their property at a price that would also cover our fees. They are still a happy customer to this day and have expressed how little they knew about the whole property management process until they used a service.

You may be lucky enough to have a similar experience, but if not, these are some of the ways you could actively challenge a property management company to best suit your needs. Challenge them on price, knowledge, communication, and transparency. Read the terms and conditions and weigh the overall value against the cost you are trying to save. Is that amount worth the hassle?

Hayden Walls

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Many disputes are due to miscommunication or a lack of communication. A property manager’s most important role is to act as mediator, keep productive communication flowing, and provide advice to both parties to ensure a positive outcome for both landlord and tenant.  An effective property manager will ensure that these disputes are resolved quickly and prevent any need for a Tenancy Tribunal hearing.

From my work in the social housing sector for several years, dispute resolution was the most important factor in a successful tenancy. The Residential Tenancies Act 1986 sets out the legal requirements and provides a basis for any negotiations regarding a tenancy. However in the field, it’s up to a property manager to apply this knowledge tactfully, as reciting clauses from the Act will not sit well with a tenant.

A solutions-based approach to tenancy issues is the key to resolving disputes. An example of this is a property manager noticing a mouldy ceiling in a bathroom during an inspection. The tenant says that despite their best efforts in cleaning it, the mould keeps coming back. The landlord says it’s the tenant’s responsibility to keep it clean. A skilled property manager will offer solutions to both parties.

Suggestions for the tenant might include ensuring the extractor fan is left on for a period after a shower or opening the window regularly to allow ventilation. Solutions offered to the landlord might include cutting back overhanging trees blocking natural light to the bathroom window or having the roof space inspected for moisture. In property management there is always two sides to a story and by using this approach, issues are de-escalated and both parties’ concerns are resolved.

Connor Blake

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From 12 August 2020, the Auckland region is in Alert Level 3.

What does this mean for landlords and tenants?

Moving house

• Tenants can move house, including between different alert level areas.
• Removal companies can assist with moving, with some conditions. Movers will have to comply with physical distancing rules and should keep records for contact tracing purposes.
• For tenants moving between alert level areas, removal companies can assist with moving if they have received an exemption from the Ministry of Health.
• Tenants should have documents on them to show that they are moving house, for example, their signed tenancy agreement. Find out more about the regional travel guidelines and rules on the Government’s COVID-19 website.  
• Friends and family can travel with a tenant who is moving, including between different alert level areas, to help the tenant with the move. If they don’t live with the tenant, they must keep records for the purposes of contact tracing. Personal hygiene and surface cleaning practices should be followed, and physical distance maintained

Property inspections

• Routine inspections of rental properties cannot take place unless it is an emergency situation, such as a landlord needing to confirm that emergency maintenance is required. Virtual inspections are an option if the tenants agree.
• At the end of the tenancy, the landlord and tenant should not do the final property inspection together as normal. Rather, we recommend tenants take photos of the property’s condition before leaving.

Property maintenance

• Maintenance can only occur in emergencies. Landlords should obtain tenant approval before emergency maintenance is undertaken. This might include plumbers, electricians and tradespeople who can work on and inside rental properties.
• We recommend landlords arrange for professionals to clean or undertake emergency maintenance of their vacant rental properties.

Property viewings

• Open homes are not permitted.
• Tenants in an Alert Level 3 area cannot travel to an Alert Level 2 area to view a potential rental property.
• In-person viewings for rental properties can take place within the Alert Level 3 area with some restrictions. If the property is tenanted, landlords will need approval from the tenants and viewings should only occur when the tenants are not at the property.
• During in-person viewings, physical distance should be maintained and hygiene measures followed. In-person viewings should be limited to two per day per property.

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All private rentals must comply within 90 days of any new or renewed tenancy after 1 July 2021, with all private rentals complying by 1 July 2024. All boarding houses must comply by 1 July 2021. All houses rented by Kāinga Ora (formerly Housing New Zealand) and registered Community Housing Providers must comply by 1 July 2023.

Landlords are responsible for maintaining and improving the quality of their rental properties. These standards will help ensure landlords have healthier, safer properties and lower maintenance costs for their investments.

The standards will also make it easier for tenants to keep their homes warm and dry.

Why is this important?

Nearly 600,000 households rent in New Zealand, and New Zealand based research tells us that our rental stock is poorer quality than owner occupied homes. Research shows a link between cold, damp and mouldy homes and negative health outcomes, particularly for illnesses such as asthma and cardiovascular conditions.

By improving the quality of rental homes, New Zealanders who rent will experience improved health, as well as lower medical costs and lower levels of hospitalisations. Warmer and drier homes are also less likely to have issues with mould or mildew damage, better protecting a landlord’s investment.

Case study: Planning to comply with the healthy homes standards

Judy owns a house in Nelson that she rents out with Omni Property Management. Over the past year, Judy installed new ceiling and underfloor insulation to meet the standards for climate zone three before the 1 July 2019 deadline. She saved receipts of the work and photos showing where the insulation was installed.

Judy has a new tenant moving in on 1 September 2019. She includes a statement in the new tenancy agreement about the type, location and condition of the insulation, and combines this with a statement that she will comply with all the healthy homes standards. She signs this combined statement, in addition to signing the new tenancy agreement. Judy wants to be ready for the 1 July 2021 deadline, as it is likely she will have a new or renewed tenancy shortly after that date, so she makes a plan to tackle the work to meet all the healthy homes standards by that date.

In September 2020, Judy’s tenant wants to renew the yearly lease. When Judy draws up the renewed tenancy agreement, she references the work completed to meet the healthy homes standards to date and includes all the required information. Judy has kept receipts as proof of the installation of a new extractor fan that was installed into the bathroom for ventilation, and of a heat pump that was installed into the living room. She also includes a print out of the results from the online heating assessment tool that she used to calculate the room’s required heating capacity.

In September 2021, Judy has a new tenant moving into her rental property, which now meets all the healthy homes standards. In this new tenancy agreement, Judy records all the work that has been done to meet the healthy homes standards. She continues to keep records of past work and any future work done as ongoing maintenance on the house.

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