Renting Your AirBnB Long Term?

So you've rented your holiday home out for the winter - does the Residential Tenancies Act apply to you? If you are renting a residential premises for more than 90 days and it is not as a temporary holiday home then yes the rules apply. You need a tenancy agreement in writing. You need to complete a Healthy Homes statement and ensure your property complies within 120 days of the start of the tenancy. Yes the laws about renewing the tenancy also apply.

Hefty fines from $750 to $$6500 apply for failing to have a tenancy agreement in writing, failing to include a Healthy Homes statement on the tenancy agreement or acting to terminate a tenancy without grounds.

If in doubt seek expert advice. If you are self managing, make sure you attend regular webinars and keep abreast of law changes.

Who Pays for Pest Control?

The most common pests in Wanaka are mice and spiders. Mice often make their way into homes when the weather gets cooler. Spiders can be a problem and many people are fearful of white tail spiders.

Assuming the tenant is not living in a way which encourages pests and the owner has not caused the infestation either, then in many cases the tenants and owner agree to split the cost as there is no legal precedent as to who pays.

We get a number of requests each year for houses to be sprayed for spiders and / or flies. It is not cheap but to be most effective both outside and inside need to be sprayed.

Mice can really damage a house if left untreated. They chew wires / doors / walls and are unhygienic . It is definitely in the owner’s interests to deal with a mouse or rat problem as soon as it occurs. A simple mouse trap can work if the tenants are willing to bait and clear them. However, mice can be very persistent and in our experience are best dealt with by professionals who will put down bait stations.

Can I Switch Property Managers mid Tenancy?

If you are unsatisfied with your property manager, yes you can change even if there is a current tenancy in place. This is providing there isn’t a clause in the management agreement stating otherwise.

The 2 contracts are separate from each other - the management agreement is between the owner and the agency, and the tenancy agreement between the agent and the tenant.

Check  your management agreement with the agency to see what length the notice period is and give notice in writing. Simple as that. We have a simple 3 step process where we handle all the paperwork, deal with both parties and make the transition seamless.

Renovating? Need the Tenants Out?

If the refurbishment or renovations at your rental property are extensive and require your tenant to vacate, how much notice must you give?

The answer is 90 days but this only applies to periodic tenancies. You cannot give notice to a tenant on a fixed term tenancy to move out because you want to renovate.

The renovations or refurbishment must be of such a nature that the tenant couldn’t continue to live there. Replacing the toilet or putting in a new carpet may not be sufficient reason to have your tenant move out.

Increase Your Portfolio with a New Build

Are you looking to expand your portfolio and do a spec build or two for further rental income? A good thing about new builds is the ability to claim interest on the mortgage as a tax deduction.

Build7 Wanaka is a bespoke design and build company who listen to a client's wishlist and work hard to achieve a desired outcome.

Their in-house team includes architectural designers, quantity surveyor and project managers sitting side-by-side to design a house that suits the land and, its orientation while respecting the client's investment budget throughout the journey.

Build7 Wanaka is a one stop company, assisting with plans through to working drawings, council consent, interior design, construction right through to code of compliance and maintenance, coupled with a Masterbuild 10 year guarantee.

They can help you find the right professionals to find suitable land to build on and source finance.

They pride themselves on quality, and don't work to cookie cutter plans for your land, but aim to capture thermal gains from sun in the design and aid clients with product specifications suit your investment.

Talk with the Home & Co. team for more information about Build7 Wanaka who are happy to answer your questions about the possibility of building a new rental home with them.