New landlord, where to start?
(updated on Thursday, May 08th 2014)
I'm thinking about renting my house out and have never done it before. Can you advise me on some start-up information for doing it myself without a real estate person? Where do I start?
Our Experts Answer:
The first-time landlord has the same duties and responsibilities as an experienced one. There is specific legislation covering those responsibilities, see the Residential Tenancies Act 1986. In addition there is information on the Ministry of Business, Innovation and Employment’s Tenancy Services website which points to the necessary information, forms and processes that will be required. Take a look at www.tenancy.govt.nz. If you decide that the business of managing your own rental property is a bit complicated, risky or too much trouble, I suggest you seek out a professional property manager and have a chat about their services. You may well find that for a fair and reasonable fee you can avoid some of the pitfalls that can trip up an unwary landlord.
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