10 Jun Rental Property Management | Things to consider when becoming a rental property owner?
Becoming a landlord? What you should considered when becoming a rental property owner?
When considering becoming a landlord or rental property owner, there are many different things that you need to learn about. By gaining knowledge about the rental process in New Zealand (The Do’s and Don’ts of Property Management), you will be able to ensure that you will protect your property investment.
What are some of the dos and don’ts of renting out a property?
When buying a rental property investment, consider location. Yes, location – location – location. If you want to keep your properties tenanted, you will want to concentrate on homes around universities, proximity to transport hubs, hospitals, and schools. This will allow you to ensure that you will have a steady flow of tenants for your rental property.
This is an investment after all – do not buy a home just because it is cute and you could live there. You want to be sure that you do the numbers and calculations. We are the experts. Call our team at Fahey Property Management to do a no obligations rental property assessment. Remember your property profitability calculations should take into account repairs that the property may require.
Reference checks for potential tenants. Did you know that bad tenants often target owner advertised listings. Even if you do not intent to utilise Fahey Property Management services as your property management team, we are able to offer you a sundry letting service which is FREE of charge to you. Remember, you don’t want just anyone in your property. You want a renter that will take care of your property and pay their rent regularly.
Do have a regular rental home inspection scheduled and completed? Again, this can be a situation that Mum and Dad property investors do not like undertaking themselves and our property rental professionals could assist you with the regular property inspection.
What happens if they stop paying rent? As soon as you are legally entitled to take action, you should progress with this. Our property management team have guided many a property owner through the New Zealand Tenancy Tribunal process. While this may seem heartless, you need to remember that you own a business and you need to treat it as such.
Fahey Property Management Ltd are specialist Residential Rental Property Managers. We manage rental properties throughout the greater Auckland area, Hamilton, Napier, Havelock North and Hastings.
If you are looking for someone to manage your investment or need help getting tenants give us a call.