Rental Properties – FAQs
The move in costs are calculated as follows:
- 3 x weeks rent as bond
- 2 x weeks rent in advance
- 1 x weeks rent + GST as a let fee.
Example on $300 per week property:
- Bond = $900.00
- 2 weeks rent = $600
- 1 weeks rent + GST =$345.00
TOTAL: $1845.00 to move in.
Individual offices determines how rent is collected, each office will have different payment options available for you. The best thing to do if you have questions please contact your Harveys property investment manager. At Harveys Warkworth you can pay your rent via an automatic payment or by EFTPOS. Please contact your property investment manager for further information on this service.
Documentation should include a copy of the tenancy agreement, information about renting, a copy of the bond lodgement form and the condition report, which is to be completed, signed and returned to the agent or owner within the required time frame. You may also receive a receipt for the initial rent amount, letting fees and bond payment, as well as copies of access keys and any remote controls. The agent may also provide you with emergency contact details for urgent out-of-hours repairs.
If you have a fixed term tenancy you will find details of the expiry date in your tenancy agreement. If this date passes, your tenancy becomes a ‘periodic tenancy agreement’. This ensures all parties are bound by the original tenancy terms. You can also request a lease renewal from the owner or agent. The owner of the property has the right to renew the lease, let arrangements continue under the terms of the original lease or issue the appropriate notice requesting that you vacate the property. It is important for you to discuss whether or not you want to continue living in the property with the property manager well before the expiry date of your tenancy, which allows everyone to make the necessary plans and arrangements.
Any agreed handovers must be done correctly and legally – you and the other person should contact your property manager as soon as possible and let them know what you want to do. You should also be aware that your landlord has no automatic obligation to agree to your request – the new person must complete an application form, provide references and carry out all the other steps that are necessary for anyone to be approved as a tenant. If this application is approved, the new person should not move into the property until a final inspection has been carried out and the necessary arrangements are made with your landlord for the release of your bond.
In this event, you are responsible for all reasonable expenses incurred by the landlord to locate a replacement tenant. You would also need to continue paying rent until a new tenant is located and enters into a new tenancy agreement. You and the agent are both able to actively seek a new tenant – but this individual must complete all normal processes and checks before they are approved. It is essential that you not leave the property without notifying your agent – this will likely result in the loss of your bond and could also create a bad rental history record, which may make it more difficult for you to rent again in the future.
There are a number of different scenarios that can occur if the owner decides to sell – these can depend on the expiry and terms of your tenancy agreement. For example, if you are within the fixed term of your tenancy and the property is sold to another investor, you continue to have your rights to the property as a tenant when the new owner assumes the responsibility as your landlord. If the property is sold to someone who wishes to live there, you will be given notice to vacate – this will usually give you plenty of time to arrange your next property. As an existing tenant, your Harveys agent is perfectly-placed to help you find another rental property that suits your budget and preferences.
Rental Issues – FAQs
You need to advise the property manager of all requests for maintenance or repairs, preferably in writing. Maintenance forms for this purpose are often provided when you first move into the property. It is essential that you do not attempt to repair things yourself – you have a responsibility to advise the agent of maintenance matters that require attention. Your tenancy will include provisions for how you should handle repairs or maintenance requests. What should I do if urgent or emergency repairs are needed at the property? Generally, emergency repairs are required when the occupants’ health and safety – or the property itself – is threatened. You should immediately contact your agent and ensure you give them the opportunity to arrange for the emergency repairs, as long as they are completed in the most urgent and expedient manner possible.
As the tenant, it is your responsibility to insure your own personal belongings – the owner is responsible for insuring the fixtures and fittings included in the property at the time of letting, as well as the premises. If you do not have home contents insurance for your personal belongings, you may need to bear the cost of replacing your possessions. .
Before you make any alternations or additions to your rental property – including picture hooks – you should contact the agent. It is wise to do this in writing, specifying exactly where you want the picture hooks to be placed.
Feel free to speak to your Harveys property investment manager if you have any questions that specifically pertain to your property or go to the Department of Building and Housing website www.dbh.govt.nz Otherwise, you should be able to find most of the general information you need online from various local authorities. These will depend on the area/town where your rental property is located, but useful ports of call include your local council, as well as relevant consumer groups and government departments.
