What’s a proactive landlord?
Whether you are new to landlording or have been in the game for a while, understanding your obligations and responsibilities to ensure you are a proactive landlord will make owning an investment property a lot easier.
Actively managing your property from the get go will not only help you find and secure great tenants, but it will also ensure you keep things running smoothly and reduce the risk of any tenancy tribunal hearings.
So what are your responsibilities as a landlord?
When it comes to listing and renting your property, your responsibilities are centred around keeping your property compliant with the regulations to make sure your tenants have a safe and secure place to live. Some of the key things you are responsible for in the safe upkeep of your property include:
- Ensuring you meet the Healthy Homes obligations (Find out more about Healthy Homes here: Healthy Homes Standards 2021)
- Ensuring you have working smoke alarms
- Keeping the property in good condition both inside and out
- Ensuring all appliances are working (such as dishwasher and heatpump)
- Quickly addressing health risks such as mould.
- Giving tenants the required notice for inspections and repairs.
- Complying with the law about rental increases.
- Meeting the responsibilities outlined in the tenancy agreement.
If your property is managed by a property manager they will understand the law to ensure you comply with your obligations.
Why is meeting your responsibilities as a landlord important?
It can seem like there are so many things to keep track and comply with however understanding your rights will also give you the steps to take if things go wrong, such as your tenant no longer paying rent or deliberately damaging your property.
By proactively managing your property, addressing issues as they come up and keeping on top of compliance you’re more likely to keep tenants long term which can reduce your vacancy rate and keep your rental yield stable.
If you are considering having your property managed Renthub offers flat fee property management starting from $25 plus GST per week.
Give us a call on 09 630 2655 to find out more.
Remember, this article is general in nature and is not financial or legal advice. Please consult your professional financial and legal advisors before making any decisions for yourself.
