Quick Tips

Considering comprehensive full landlord protection insurance? As a member of The Real Estate Institute of New Zealand (REINZ) we can provide you with the best Landlord Insurance Cover available in New Zealand, it is only available to members of the REINZ.

We highly recommend this landlord insurance product  Real Landlord Insurance as it covers you completley from all the pitfalls of being a landlord. Loss of Rent, Contents Insurance, Third Party Liability.

Should you have it? Most landlords don’t have this cover as they feel it is not necessary. However who would pay for new furniture, light fittings, drapes and carpets in the event of a fire? Insurance is an adviseable considertaion when owning a rental property. 

(Please note: Apartment owners are mostly covered by Body Corporate Insurance, for the likes of fire and water damage from other apartments. However, the policy should be read carefully, as they all differ substantially.

We take tenant damage to landlords property seriously,. At present, only intentional damage can be claimed from a tenant not careless or accidental damage.

We do expect tenants to pay for all damages they cause (except wear and tear), we expect the tribunal to decide what is crealess and what is negligent, and intentioinal.  

First we approach the tenant in writing and assess the extent of the damages, how they occurred etc. Once we have reached settlement with the tenant, we assist and oversee the repairs by appointing a suitable tradesperson to rectify the damages at the tenants cost. If we feel the landlord needs to contribute, we will contact them.

If the tenant fails to comply with our settlement terms, we would then seek assistance from the Tenancy Tribunal and keep you informed.

Important Note: Accidental Tenant Damage

If a tenant accidentally damages your property there is a good chance that you may not be entitled to claim damages from the tenant. If you are not prepared to pay for damages that may happen out of the tenants control, we strongly recommend to have landlord contents insurance. The biggest one here is a flood or fire, this can obviously cause extensive damage to the interior, light fittings, carpet, furniture and non fixed items which are not covered by general home insurance or Body Corporate Insurance.

Our rents are reviewed monthly. By raising a report at months end we can see those properties elegible for a rent review / increase. A 60 day notice period is required unless a new fixed term is being entered into at which time the rent increase can start earlier. 

Be aware you can only increase rent after 180 days. If the tenancy is fixed, then the rent cannot be increased within that fixed period, unless specifically stated in the tenancy agreement for a specific purpose (not for general increasing).

Residential Tenancies Act 1986 and Residential Tenancies Amendment Act 2010:

It pays to know your legislation. All residential tenancies in New Zealand are governed by this Act. If a tenancy breach occurs, either party has the right to apply for a special hearing at the governing body, Tenancy Services New Zealand, to protect their rights.

To avoid confusion we recommend that the owner provides a list of furniture and other chattels housed in their investment property. Noting items of high or sentimental value. We will double check this list and merge it into our system.

It can be quite useful, if the cost of the chattel is on the same report, then if damage occurs we can claim the bond fairly at the end of a tenancy.

If you’re thinking about selling your property soon after a tenant has moved in, be careful. Ideally consult a property expert before committing to the tenancy prior a sale. There can be difficult complications and penalties awarded by the Tenancy Tribunal against an owner who chooses to sell his or her property soon after it is rented. For more information contact us.