Being a landlord isn't a simple process of finding a tenant and then sitting back and collecting the rent. More and more changes are taking place in the Residential Tenancies Act and as a landlord you need to keep abreast of these. Two recent changes are listed below.
S13a (Contents of Tenancy Agreement) . Failure to comply with this section is an unlawful act and could result in exemplary damages of up to $500. New changes state that the tenancy agreement must include the landlord's mobile number and email address and also the tenant's mobile number and email address. New agreements must also have a statement whether or not there is insulation in the property and also its location, type and condition.
S45 (Landlord Responsibilities). Landlords must comply with all regulations in regard to smoke alarms and insulation as per S138a and S138b. Failure to comply with this section in an unlawful act and carries a maximum exemplary damages fine of $4000.
There are many more unlawful acts. For more information consult your legal advisor and Residential Tenancies Act 1986