Being a landlord just got harder. As a property manager, here's where we can help…

From 1 July 2019 there have been numerous legislative and compliance changes that landlords must now adhere to. And the list is quite extensive.

For those landlords who are not 100% in the game or running their property investment as a full-time job, all these changes and requirements may feel quite daunting and overwhelming.

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Sara from Comprendé Property Management in Wellington.

Call Sara on 021 520 470

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So, where are the key areas for all the changes?

We see them as quite extensive.

  • From the level of heating and insulation landlords must now provide; through to
  • Loss of full control of tenants’ rights to make changes to their rental property, and finally
  • most importantly those changes that directly affect your ROI (Return On Investment) and bottom line.

The main financial changes are really significant; with the ‘bright-line’ period doubling in length, and major legislative changes affecting your ability to deduct interest relating to the purchase of your rental investment.

Here’s How We Can Help

At Comprendé we fully understand all ins and outs of these requirements. As experienced property managers, we’ve taken the time to understand the specifics and have put in place a range of tools and service standards to ensure all our clients and their rental properties are fully compliant.

  • We will take the time to discuss with you the latest in rental property regulations, and how they impact on you, the investor landlord.
  • We’ve developed detailed and specific checklists to ensure the properties we manage meet the Healthy Homes Standards 2019.
  • For all our clients, we undertake an initial on-site property visit to identify any key areas of concern that need to be addressed, and discuss any areas of concern with you. It’s all part of our comprehensive service, to ensure you meet your compliance requirements.
  • Each year, at your annual property review, we provide a rent appraisal, to help ensure you are maximising your rental investment.
  • We take care of your property as if it was our own. Only pre-approved and certified contractors will be used to undertake required work on your property.

With all the changes the new rental property laws that recently came in effect, landlords must now comply with a large number of complex requirements.

The team at Comprendé Property Management in Wellington.

Our Wellington based team | Property management experts

If you are looking for a Property Manager in Wellington that provides exceptional service, that is backed up with a Service Guarantee then talk to us.

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  • Zero hidden fees
  • Zero hidden clauses in our contracts
  • Seven day guarantee

*should your circumstances change or you are unhappy with our service just provide us with 7 days notice. We will have all documentation available for you within 7 days.

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We are so confident of our service standards, that we stand by our service guarantee. If you are unhappy with any aspect of our service (and in all fairness if we agree) we will happily waive your next month’s management fee.

Wellington on a good day.

The more significant rental property changes include:

The Standard of Your Rental Property

  • With the new Healthy Homes standards there are a significant number of new requirements that the landlord must meet.
  • This includes extractor fans, ceiling and underfloor insulation, approved fixed wall heaters for heating the main room of the home, and specifics regarding fire alarms.

Your Rights - Rental and Tenancy Management

  • Rent can now only be increased once every 12 months.
  • New stricter rules and regulations for terminating an ongoing rental tenancy; making it much harder for the landlord to end an ongoing tenancy.
  • Changes to fixed term tenancies – where at the end of the fixed term, it converts to an ongoing tenancy.
  • Greater scope for tenants to make changes to your rental property, that you are unable to decline.
  • End of ‘rental bidding’, so on listing your rental it must be published with a given rental price.
  • Installing fibre broadband (if requested) for tenants at no cost to them.

Increase in Tenancy Tribunal Fees for Non-Compliance

  • You now can face greater level of penalties by the Tenancy Tribunal; you as the landlord may incur a fine of up to $100k. With this level of a fine, you really need to know and fully understand all the new rules and regulations.

Major Changes Significantly Impacting Your ROI

  • Changes to the “bright-line” period from 5 years to 10 years.
  • A phased in set of changes reducing the amount that interest can deducted and included as an ‘expense’ for rental property owners.

Plus many more…

We’re very happy to explain to you more about our Wellington property management services; and most importantly how our experienced team can help to manage and service your property.

Want to learn more about how we can help you.

Simply book in a time to chat with us.

With more than 620 rental properties managed under our care, our proven track record, and our commitment to providing a superior level of service, you can be assured that your property is in safe hands.