Anyone out there not have a smart phone or digital camera? While doing your initial property inspection with your new tenants, take photos or video showing the condition of your property. If you ever have a dispute over damage or property condition, a photo or video can speak a thousand words. Before and after shots of damage are compelling evidence at any Tenancy Tribunal hearing.
Also request to photograph your tenants or, if not, a close up of their driver's licence. A photo of your tenant can make a big difference should you ever need a baliff or a debt collector. They like to know if they are talking to the right person when they knock on the door and the tenant denies their identity.
Landlord tip of the month. If you would like to share a Landlord tip we would love to hear from you at email@example.com . We are looking for short sharp 1 or 2 paragraph tips which will help us all. If we use your tip in a newsletter there will be a small gift in the mail in appreciation for your effort. :-)
Some are saying Tenancy Applications should not be kept for tenants who do not enter into a Tenancy Agreement with you as it is a breach of privacy. The problem with this line of thinking is that your Privacy Waiver is on the Tenancy Application giving you authority to check your prospective tenant.
TINZ investigation into this includes input from legal council and a case from the Office of the Privacy Commissioner (OPC). TINZ advice is that you keep your Privacy Waivers for 6 years from the date of the enquiry. This is the period within which a person could challenge a rental agency as to whether or not they had given the authority to credit check.
The OPC's case was that the authority should have been kept... It did not matter that the person did not get to be a tenant. Failure to do this was regarded as an interference with privacy. An interference with privacy is serious. However as no harm was proved this was not referred to the Human Rights Tribunal where these cases are heard. This year the Privacy Act 1993 is poised for major reform which may lead to a civil right to sue for interference with privacy. Interfering with privacy could then lead to law suits.
Once again TINZ advice is keep your Privacy Waivers for 6 years from the date of your credit check... regardless of whether you take them as a tenant.
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Whether you’re a new landlord or have years of experience, this highly recommended book will give you confidence in being a landlord in New Zealand. It will save you time and money.
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(Ed. I recently heard one property manager refer to this book as her bible.)
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From the desk of the NZPIF..
First home buyers push up property prices more than foreigners
Labours policy to restrict foreign ownership of existing New Zealand houses will reduce demand for property. The big question is by how much and whether it will have a large impact on property prices.
A study by BNZ Chief Economist Tony Alexander suggests that the impact of foreign buyers in New Zealand is small, suggesting Labours policy will not have a large effect on property prices. However more research needs to be undertaken to accurately determine the level of foreign purchases.
“Despite the likelihood that Labours policy will only have a small affect, it appears fair that if New Zealanders cannot purchase property in any particular country then their citizens should not be able to purchase ours” says NZPIF President Andrew King.
“Although everyone wants to help first home buyers get into their own home, ironically it appears that they are having the largest affect on property prices.”
According to REINZ, in the year to March 2013 there were 10,883 more property sales than in the year to March 2012. During that same period, 10,733 people withdrew their Kiwisaver funds to use as a deposit on their first home.
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