Where to start? I had the same problem this time last year when I did the same article. 2017 seems like a distant memory now as over the last 12 months, our industry has had everything thrown at it including a bucket of KFC!
In my time working within the Property Management industry and in particular the rental sector, I cannot think of a time when we have had so much upheaval. Saying that it has been a challenge is an understatement. We have a lot to look at so let’s not waste any more time. As ever, we would love your feedback along with your high’s and low’s of the year.
Last week, one of Wellington’s largest Property Management companies made the headlines for suggesting to landlords that they increase rents by $6 a week to recover the cost of the letting fee as they are forced into on charging it to the landlord. Many criticised Oxygen Property Management for taking such an approach however in our opinion, they were simply doing their job.
To expect a company not to try and recoup losses that their clients may face due to landlords absorbing the letting fee is utterly naive and delusional. If you believe that a landlord is not going to try and recover the costs from tenants then you are simply in denial or have no understanding about how business works.
Almost twelve months on from the formation of the Government, the changes around tenancy reform in New Zealand are coming thick and fast. Make no mistake, change is coming and particularly around the security of tenure. A case I dealt with recently highlights why tenants need more security.
Last week I received a call from a Property Manager last week asking for some guidance. The situation arose after a tenant was given 90 days notice to end the tenancy.
Let me explain the scenario for you that many of you reading this will probably relate to this story.
Never before has our industry come under such intense scrutiny as it has right now. Whether it be tenant groups, politicians, the media or the oppressive Tenancy Compliance and Investigation Team, everyone wants to attack Property Managers. In fairness, we seem to be giving them plenty of ammunition and the latest faux pas by a Wellington-based Property Management company was embarrassingly distasteful. One wonders what they must have been thinking?
With all the negative publicity and an increasingly vocal call from all parties to regulate our industry, it is now a case of when the regulation of our industry will happen rather than if.
On Wednesday the 11th of July, Renters United launched their 'Plan to Fix Renting' and it grabbed plenty of media attention. This small group of volunteers have certainly been successful in drawing plenty of attention to themselves and whether you are a tenant or a landlord, you have to hand it to them they are extremely well run and have some prominent public figures backing their cause.
At the launch, they had Philippa Howden-Chapman of Rental Warrant of Fitness fame presenting and supporting them. They also had Sam Huggard of New Zealand Council of Trade Union presenting and Labour MP for Rongotai Paul Eagle was present as well.
It's a tough world out there, especially if you find yourself in the 'mature' age bracket and in the position of looking for employment. Now that I find myself in the mature category it has become more apparent how we are looked upon or overlooked when finding ourselves back in the job market. One thing I would advise is don't write off those mature people who come with bags of work and life experience.
Recruitment of your next staff member is often left till the last minute, done without prior planning and with the idea that it's cheaper and more effective to do yourself. Companies are often in a hurry to recruit therefore take the 'best out of a bad bunch' approach. Employees are the biggest and most important asset of any company and therefore deserve a robust and clearly defined process and to aid in the process there are some vitally important elements to consider ensuring you attract and recruit the next superstar for your team.
A national survey of Property Managers and Landlords has discovered that 4 out of every 5 people believe tenants should occur a penalty for late payment of rent. Director of Real-iQ, David Faulkner believes it’s a no brainer; if the penalty is instated less cases will make it to the Tenancy Tribunal therefore long term it will save the tax payer, tenants and landlords money. It will also reduce waiting times for tribunal hearings as tenants will be less likely to fall into arrears.
The Residential Tenancies Amendment Bill (No. 2) introduced to Parliament today will provide better protections and clarity for tenants and landlords, Building and Construction Minister Dr Nick Smith says.
“This Bill makes three practical changes to the Residential Tenancies Act to help ensure our tenancy laws better manage methamphetamine contamination, liability for careless damage and the tenancy of unsuitable properties. It builds on the changes we made last year requiring smoke alarms and insulation, and establishing a Tenancy Compliance and Investigations Team.
