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  1. #11

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    Firstly, thanks for the extremely prompt replies!

    Quote Originally Posted by TheLiberalLeft View Post
    How is "good for solving/preventing problems" the same as "8% for nothing"?
    If there are extremely low chances of problems occurring, which depends on the tenants.

    Quote Originally Posted by PC View Post
    "If the owner of the property or a member of the owner’s family requires the property to live in, or there is an agreement to sell and the buyer wants the property empty, then the notice period is 42 days."

    So give 42 days notice, move in yourself for a week or two to renovate, re-rent it then go overseas.
    Tenant sees property for rent shortly after being kicked out - takes you to TT.
    Guess who will win that one?
    Maybe you get away with it...
    OK, it depends on the definition of "live in", as it does not specify a minimum time period. But you're right.

    Quote Originally Posted by flyernzl View Post
    A 42 day notice is only valid if you are going to sell the place or move in yourself (or some of your family do).
    You will not get the existing tenants to just accept a new TA. What have they got to gain?

    Issue a 90-day notice immediately. Don't give any reason (very important).
    A bit further down the track you can (a) either offer the existing tenants a new tenancy on a new TA with your terms and rent, or (b) have the remedial work needed assessed prior to your departure, the tradespeople lined up to carry out this work, and a Property Manager organized to install a new tenant if the work is completed after you have left.

    I would go for the second option.
    To be clear, no tradespeople will be needed --- I literally mean clean and untidy, so all that is needed is a day (or more) of elbow grease removing the mould from the ceilings, cleaning the window panes and frames, giving the carpet a clean etc etc. In fact, it is possible that I could clean if while the tenants are still there.

    I like your suggestion to have the property manager ready to go once the current tenants are out. I will talk to some and see what they're comfortable with.

    As a final note, say the tenants have to move out by September. Would I be allowed to advertise the property in August, for tenancy beginning September?

    Cheers.

    Quote Originally Posted by Maccachic View Post
    Is it a fixed term or periodic term?
    Periodic.

  2. #12
    Join Date
    Nov 2008
    Posts
    1,046

    Default

    Just a note--the mold will most likely return if the ceilings are not insulated

    are you getting current market rent for your other place? that can be one advantage of PM who makes sure rent is up to date with current value.

  3. #13
    Join Date
    Mar 2007
    Location
    Auckland
    Posts
    3,043

    Default

    Quote Originally Posted by ianhoolihan View Post

    As a final note, say the tenants have to move out by September. Would I be allowed to advertise the property in August, for tenancy beginning September?

    Cheers.


    Yes you are.
    Of course, in practice, the existing tenants are likely to turn uncooperative when they have received your notice.
    This means that they will probably activly work to prevent any cleanup work or inspections by prospective tenants while they are still living there.


    Don't take this personally, but from your comments I would say that you are paddling in a shark infested pool with little knowledge of the sharks.
    Proceed very carefully, there is a chance that this could turn nasty.

    I am not a fan of Property Managers (don't use one myself) but I really think you should talk this over with someone who has an indepth knowledge of the RTA and can advise you, before you step firmly on a banana skin.

  4. #14
    Join Date
    Nov 2006
    Location
    Cyberspace
    Posts
    5,795

    Default

    I forsee angst and many tears on your part.

    Spend the money and get a competant PM. You'll regret not doing so,

  5. #15
    Join Date
    Oct 2006
    Posts
    368

    Default

    Quote Originally Posted by ianhoolihan View Post
    Hi all,

    I am a first-time landlord, having bought a 3bd state house in Fairfield, Hamilton. I took over the property with the existing tenants. It still seems like a good investment, though I am heading overseas for four years in September, and I want things hassle-free by the time I go.

    So, the problems:

    1. The existing tenants are untidy, and unclean, e.g. sleeping on mattresses without sheets, fires on lawn, mould on ceilings. I think there are two adults and 4 (5?) kids, which is probably too much. Unfortunately, I am unsure of the condition the house was in when they first moved in, as I was not the owner then.
    2. The previous property managers did the lawns, so I do too, even though it is not in the TA.
    3. The rent is $290pw, and I want to increase it, but don't know the details.

    A good property manager would have advised you take over the property with vacant possession - that way you could have signed a new tenancy agreement with the existing tenants on your conditions - i.e, a higher rent and they look after the lawns, and could have spoken to them about their expectations of cleanliness - your property would have had at least 2 inspections since then, and you could have probably been receiving another $30 per week rent, (quick look on trademe - 3 bedroom properties in Fairfield). Or you could have some other good tenants..

    Management fees are tax deductible - don't make the mistake of letting your parents manage it while you are away - this is your business, they can still keep an eye on it for you, but give the property to a good manager to safeguard your investment.

    my two cents...

  6. #16

    Default

    I would not get a PM. For a start there are too many bad ones & not enough good ones that will look after your best interests. And secondly you have being doing things reasonably well yourself reading your posts, despite being a newcomer landlord. I would keep the tenants you have , sounds like they are a bit untidy but they've obviously being there a long time ; apply the "better the devil you know" rule of thumb . You can give your tenants a written 60day rent notice increase as long as the last rent increase is over 6 months ago.This is for a periodic TA . There is absolutely no point in getting the "untidy" tenant to take care of the lawns ,its never going to happen,even if its outlined in their TA. Best you continue to do the lawns yourself & build that cost/hassle factor into your rent increase. Have a contractor organised to take over the lawn maintenance while you're away.Doing the lawnservice also gives you an active vigil presence.All of the existing terms & conditions of the TA with the old landlord simply pass over to you. You can & should also give your tenants written notice to this effect, advising that you are the new landlord & supply all your contact details & address for service.
    Last edited by mrsaneperson; 29-06-2012 at 04:25 AM.

  7. #17
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,769

    Default

    You missed the point that he is going to be overseas from September and must appoint someone.

  8. #18
    Join Date
    May 2012
    Location
    Wellington
    Posts
    518

    Default

    Get a PM. Talk to other LL's in the area to find one that works.

    Not having a PM has led you into the current situation.

    Unless your parents are well experienced, don't dump the issue on them; willingness to help should not be confused with ability !

    There are few substitutes for experience, and if you are leaving the country for four years, you don't have the time to get the experience yourself.

  9. #19

    Default

    Quote Originally Posted by Maccachic View Post
    You missed the point that he is going to be overseas from September and must appoint someone.
    No i didn't miss the point. Its not till September that he goes away.He has expressed already in his first post that he would get his parents to manage the property. When he does go away all he needs to do is inform the tenant his parents contact details & that they will be managing it for him.

  10. #20

    Default

    Quote Originally Posted by rueben View Post
    A good property manager would have advised you take over the property with vacant possession - that way you could have signed a new tenancy agreement with the existing tenants on your conditions - i.e, a higher rent and they look after the lawns, and could have spoken to them about their expectations of cleanliness - your property would have had at least 2 inspections since then, and you could have probably been receiving another $30 per week rent, (quick look on trademe - 3 bedroom properties in Fairfield). Or you could have some other good tenants..

    Management fees are tax deductible - don't make the mistake of letting your parents manage it while you are away - this is your business, they can still keep an eye on it for you, but give the property to a good manager to safeguard your investment.

    my two cents...
    Thanks, those are fair points. To clarify, the property is in a trust, and my parents independent trustees, so it is their business. However, I know what you mean.

    Quote Originally Posted by Keys View Post
    Spend the money and get a competant PM. You'll regret not doing so,
    From what everyone has said, this seems to be the best option, as I'm out of my depth, and the country. Sorry, I thought I sent a more detailed reply, but it appears not to have come up yesterday.

    One question though: if a property manager messes up, are they liable, or me? I.e. in TT cases. I suspect I'll still be liable for the consequences of their decisions.

    Quote Originally Posted by mrsaneperson View Post
    I would not get a PM. For a start there are too many bad ones & not enough good ones that will look after your best interests. And secondly you have being doing things reasonably well yourself reading your posts, despite being a newcomer landlord. I would keep the tenants you have , sounds like they are a bit untidy but they've obviously being there a long time ; apply the "better the devil you know" rule of thumb . You can give your tenants a written 60day rent notice increase as long as the last rent increase is over 6 months ago.This is for a periodic TA . There is absolutely no point in getting the "untidy" tenant to take care of the lawns ,its never going to happen,even if its outlined in their TA. Best you continue to do the lawns yourself & build that cost/hassle factor into your rent increase. Have a contractor organised to take over the lawn maintenance while you're away.Doing the lawnservice also gives you an active vigil presence.All of the existing terms & conditions of the TA with the old landlord simply pass over to you. You can & should also give your tenants written notice to this effect, advising that you are the new landlord & supply all your contact details & address for service.
    Haha, just as I thought I had a resolution! I did not know that the rent increase notice need only be 60 days --- that's useful. If I was to ask my parents to manage it, I'd probably follow your advice.

    Cheers.


 

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