Investing in residential property in New Zealand can be a big winner and there’s less to worry about than you might believe especially when you focus on the right requirements to firstly get the property and then how to manage it so it’s adding value i.e. equity and cashflow as a rental property.
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With ever-increasing costs, Landlords often wonder if they’re doing the right thing using a Property Manager, and it’s a topic that’s discussed a lot on PropertyTalk. Why pay for the service when they could do it and save hundreds of dollars every year per property? Well one reason to not do it yourself is all the rules and legislation. The use of property management firms is increasing due to the complexity of owning rental properties today.
Landlords may soon be required to test for Meth use in their rental properties in-between tenancies as part of the new Health and Safety at Work Act 2015. The reported rise in P-contaminated houses is somewhat alarming insofar as the clean up costs are in the tens of thousands, plus residing in a meth contaminated environment can have negative health implications.
Referrals speed up the property manager selection process for landlords and it’s why asking for referrals is a popular activity on PropertyTalk.
However what do you do when referrals are thin on the ground and you need to engage a property manager immediately? Thankfully the answer is online and Landlords can now ask prospective property managers a list of pre-qualifying questions.