Utilising the services of a property manager is a cost effective way to save you the stress and hassle of managing your property investment yourself.
(PRWEB) December 27, 2012
On May 2009, the Residential Tenancies Amendment Bill was introduced to Parliament which required landlords to appoint a property management agent when away from New Zealand for more than 21 days. The changes made to the Residential Tenancies Act 1986 (RTA) took effect as law in October 2010 with the Residential Tenancies Amendment Act 2010. The new law further stipulates that landlords must notify the Department of Building and Housing of the agent’s appointment, if a bond is held to minimise any confusion or delay if any changes to the bond are required.
Spectrum Rentals encourages land owners to discuss their requirements with a property manager in the area of the investment property to ensure that current laws are being followed. Owner Marina George takes pride in saying, “At Spectrum Rentals, we have helped many property owners who are heading overseas by being their agent to act on their behalf while they are out of the country.”
The RTA and the RTAA covers a vast field of regulations to govern property management tasks such as payments of rents, maintenance repairs, bonds, notifications, dispute resolutions and the like. With emerging new technologies, property management in West and Central Auckland tends to move towards managing longer term tenancies as Spectrum Rentals sees more people renting rather than owning property.
The Residential Tenancies Amendment Act 2010 or the RTAA basically contains amendments on letting fees, fixed term tenancies, addresses for service, body corporate rules on tenancy agreements, notices to remedy, additional unlawful acts and abandoned goods. The most notable change is appointing a New Zealand based agent for landlords who may be going overseas for more than 21 consecutive days. The absentee landlord is required to appoint any agent of choice, a family, relative or property management company and send due notification to the tenant.
Spectrum Rentals who offer property management services, advises landlords who do have plans of leaving the country for longer periods to adhere to this new RTAA law to avoid having to pay the steep penalty. Landlords failing to appoint a property management agent when outside New Zealand for more than 21 days may incur a fine of $1000. Marina George says, “Utilising the services of a property manager is a cost effective way to save you the stress and hassle of managing your property investment yourself.”