Property Management
RENTAL PROPERTY MANAGEMENT
Bay Gold Realty has a full management service which includes regular property inspections and the careful selection of tenants for landlords, many of them absentee owners.
For more information on the property management services available in your area - contact our Flip Boerrigter.
Tips For Tenants - Frequently Asked Questions
HOW MUCH MONEY WILL I NEED TO PAY WHEN I RENT A PROPERTY?
Generally you will need 2 weeks rent in advance, plus 4 weeks Bond, plus one weeks rent payable as a Letting Fee (plus GST) to the agent. This needs to be paid in full prior to you moving into the property and depends on the type of property you will be renting.
WHAT'S THE DIFFERENCE BETWEEN A PERIODIC TENANCY AND A FIXED TERM?
A Periodic Tenancy is one where there is no fixed term, and the agreement runs on until the tenant or the landlord give lawful notice to terminate.
A Fixed term tenancy is for a specific term, for example, one year. It has a start date, and an end date which are both noted on the Tenancy agreement. More and more landlords are offering their property for rent on a Fixed Term basis.
DO I HAVE TO PAY GST?
You only pay GST on the agent's Letting fee
WHAT ARE MY OBLIGATIONS WHEN I RENT A PROPERTYYour Tenancy Agreement outlines the main points regarding your tenancy, but you also have additional obligations under the Residential Tenancies Act. You must take reasonable care of the property, and leave it in a "fair and reasonable" state when you leave. Some Tenancy Agreements have special clauses in them which you need to abide by. (Eg. The tenant will commercially clean the carpets at the end of the tenancy; No pets allowed, the tenant shall maintain the lawns and gardens).
WHAT DO I DO IF SOMETHING BREAKS OR NEEDS REPAIRING?
Email or call your property manager to ask for advice as to whether the problem is one which you need to make good at your cost, or whether it's the landlord's responsibility. Emergency Repairs and Maintenance include anything relating to power, water and sewerage and you need to contact your property manager urgently regarding these items. Urgent Repairs may include broken locks, and other items which mean the property is not secure. Regular Repairs and Maintenance refers to items that do not cause any real damage in the shorter term but are annoying and inconvenient. These may include stove elements that are not working, and leaking taps and toilets. Check with your property manager to ask what items are your responsibility.
WHAT IF I WANT TO MOVE OUT?
Periodic Tenancies (no fixed term)
For Periodic tenancies you are required to give 21 days Notice in writing. The effective date, is the date upon which the agent receives this notice.
Fixed Term Tenancies (for a set time)
Normally your tenancy start and end dates are specified on the Tenancy Agreement and you will be responsible for paying the rent during the total period.
However if you find that you need to move out, AND if your agent can relet the property, on the same terms and conditions, you may be allowed to cease your tenancy agreement in favour of the new one. If there is any short fall in rent you will be obliged to pay this.
HOW DO I GET MY BOND BACK?
Ensure that you have left the property in a clean and tidy condition and as per the requirements of your Tenancy Agreement. This generally means that there should be no rubbish lying around with the gardens and lawns neat. Internally the walls, doors, windows and ledges, kitchen and bathroom should be clean, and carpets commercially cleaned also.
Damage
If you have caused any damage you need to have this repaired at your cost, to a good standard. For any outstanding damage which is considered to be your responsibility, and that has not been repaired by you, an Application may be made to the Tenancy Tribunal to apply the Bond funds. Sometimes damages may be awarded against a tenant, in excess of the Bond money held.
Rent Arrears
Ensure there is no overdue rent owing.
Bond Inspection
Your Property Manager will carry out a Bond inspection. This will be done soon after you have vacated the property and the keys have been returned.
Bond Refund
If the inspection is satisfactory, your Property Manager will complete the paperwork and send off the application for Bond Refund to Tenancy Services.
WHAT HAPPENS IF THE OWNER WANTS TO SELL OR MOVE BACK IN?
If you have a Periodic tenancy (no fixed term) the landlord must give you 42 days notice in writing, to vacate. If you have a Fixed Term tenancy the landlord may sell the property subject to your existing tenancy. That means that you can stay in the property, while the owner may change. When selling, the landlord must advise you in writing that the property is on the market.
Reasonable Notice to inspect and reasonable Access for inspections
When the property is on the market, you must be given reasonable notice for buyers to inspect. You are also obliged to give reasonable access for those inspections.
CAN I BRING IN OTHER TENANTS TO HELP PAY THE RENT?
The only persons who are lawfully able to occupy the property you are renting, are those either named or provided for on the Tenancy agreement. Sometimes they will be named, or the agreement will provide for a certain number of occupants. The person named on the agreement is the lawful tenant and the other occupants (as noted above) are flatmates.
SUB LETTING THE PREMISES OR VARYING THE TENANCY AGREEMENT
You are not able to sub let the premises without written consent from the owner. If you wish to move out and a friend or other occupier wishes to stay in the property, most owners will require a new Tenancy agreement, together with updated Application forms and references. Under these circumstances a letting fee may be charged
WHAT IS MY OBLIGATION REGARDING LANDLORD INSPECTIONS?
Landlords and their agents are required to give you 48 hours notice of their intention to enter the property. The only exception to this is when the property is on the market, and in these circumstances you must be given reasonable notice at all times.