2019 was a year of change for the property management industry, and most landlords have adapted and responded well to these changes. In July 2016 legislation came into force that gave landlords three years to install insulation in all rental homes. Some landlords did not meet their obligations, so in keeping with their legal and professional obligations, Trust Property Management had to take a firm approach.
Trust Property Management’s job as property managers is to protect landlords by identifying and addressing maintenance requirements, and they congratulate landlords who are already planning to meet the healthy homes standards. Being a landlord is being in business, and property maintenance is good for your business.
The RTA (Residential Tenancy Act) states, “The landlord shall provide and maintain the premises in a reasonable state of repair, having regard to the age and character of the premises, and the period in which the premises are likely to remain habitable and available for residential purposes.”
Landlords who adhere to this premise will have fewer vacancies and attract the best tenants. By including insulation statements, healthy homes statements and insurance statements in Tenancy Agreements, tenants are well informed about their rights and responsibilities under the RTA. The inclusion of these statements also ensures that landlords and their property managers are engaging in better conversations with tenants.
From July 2020 landlords must declare in each new, renewed or varied tenancy agreement the current level of compliance with the healthy homes standards, and tenants will be well informed to make decisions before committing to renting a property or extending their lease.
So, whether you’re a first-time property investor, experienced landlord or tenant, Trust Property Management will offer trusted advice. Similarly, if you’re unsure of where to start, how to compliance, arrange maintenance, complete inspections and stay up to date with legislation, they are there for you, so for more information on property management Wellington, rental property management and Wellington property maintenance please go to http://www.trustproperties.co.nz .