Property management transfer

Brad asks:
(updated on Sunday, July 14th 2013)

We are unhappy with our property managers and would like to take over the management ourselves. How will this affect the tenancy agreement and bond arrangement?

Our Experts Answer:

Your property manager has been acting as your agent. Check the agreement that you have with the property manager, to see what sort of notice is required to terminate the management. The tenancy agreement remains in place, but with you as the landlord. In addition to terminating your management agreement you will need to get your property manager to advise the tenant that you will be their landlord from a specific date, write to the tenant to advise them that you will now be their landlord (giving them contact details, instructions for ongoing rent payments, etc) and complete (along with the outgoing property manager) a change of landlord form and send it to Tenancy Services’ Bond Centre. This will transfer to you the landlord’s signing authority over the bond. For further information about a landlord’s responsibilities you should look at www.tenancy.govt.nz.

 

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