The thought of “losing” some of your weekly rental income to pay a property manager may feel painful. Surely collecting rent and ringing a plumber now and then can’t be that hard?
The reality of managing a property is very different to this simplistic view. The Residential tenancies Act can be a legal minefield. Ask yourself if you are aware of the amendments and changes which came in during 2016? For instance did you know that if you are outside New Zealand for more than 21 days you are required by law to appoint someone to manage the property; or even what type of smoke alarms you have to install? What about 2017 + changes to insulation, heating, and smoke alarm requirements?
Then there are the 2019 Healthy Home Requirements! What do you do to make sure you are compliant and not at risk for a $4,000 fine?
Oh wait... now we have the 2020 RTA Amendments with another set of changes and a whole new list of huge fines and penalties for landlords. There is even a $2,000 fine for failure to keep records!
It takes time and effort to manage a property well. Below are some good reasons why you should use a professional property manager.
While using a property manager looks like an extra cost, in reality they save a landlord time and stress, whilst maximising your net rental returns.
Director of Transmission Solutions Ltd