If you’re a landlord, you’re more than likely interested in keeping your rental maintained since it’s probably one of the biggest investments you own.
Plus, you’re legally responsible to make sure your rental home can be well heated and ventilated, to ensure it meets the Healthy Homes Standards.
So apart from getting a hefty fine (exemplary damages of up to $7,200) if your rental doesn’t comply, landlords can benefit from longer tenancies and reduced house maintenance when you ensure the rental insulation is up to standards for example. According to the Energy Efficiency and Conservation Authority (EECA), General Manager Residential Robert Linterman says if you look at property sales listings, insulation is increasingly promoted as both a selling and rental point.
“With the Government insulation programmes, people are now very aware of the benefits of insulation. I think tenants are more likely to stay longer in houses that are warmer and more comfortable.”
Insulated houses, combined with adequate ventilation are drier, making them easier to maintain and less susceptible to mould.
There are other reasons, that being a good landlord will benefit you as outlined by estproperty managers:
Your tenants will see the property as their home
- Tenants will generally take better care of a well-maintained property vs one that is falling apart. Tenants who feel that they are being treated well by their landlord or property manager, and live in a good-quality and fairly priced home, will see it as their own. Giving your tenants the option to hang pictures or put up shelves and do a bit of gardening will also encourage them to settle down for longer. So look after your property as you would your own home if you want your tenants to do the same.
You’ll have tenants that stay longer and save on letting fees
- Being open-minded can pay off when it comes to investing in property. While some landlords automatically turn down tenants with pets or small kids, these people actually tend to stay longer and pay their rent on time, so think carefully before you rule them out. While there may be a little more wear and tear, any damage is easy to fix and it’s generally better to have people in for a longer period of time than a series of short tenancies with vacancies in between. Being flexible is worth it in the long run.
Your property won’t stand empty
- The cost of finding new tenants is considerable and isn’t something you should skimp on. You either need to pay a property manager to check references, complete background checks and interview tenants, or find the time to do this yourself, without agency-only background checks, which adds to your risk. Ideally, a satisfied tenant won’t be in any hurry to move, avoiding these costs.
- Ensuring that you are bringing a well maintained, well presented home to the rental market will help it to stand out to potential tenants. It will be leased faster, meaning less time spent paying a mortgage on an investment that isn’t generating any returns.
Maintenance and other issues won’t become larger problems
- If you or your property manager carry out regular inspections, and deal promptly with small problems, you will preserve your property’s value and reduce the risk of expensive repairs later on. Should you choose to sell at some point, a property that needs only cosmetic updates will leave you with more money in your pocket than one that needs extensive work before going on the market.
GET IN TOUCH WITH G-FORCE FOR A HEALTHY HOMES ASSESSMENT REPORT BY CALLING 0508 088 888 OR EMAIL: SALES@GFORCE.CO.NZ
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