Welcome to the August 2019 edition of the APM Client E-Newsletter.
A Word From Howard – An Industry Changing
Property management is an ever changing landscape. All parts of the property management industry whether it be Residential, Commercial or Body Corporate, are showing the need for vigilant, thorough, and competent property managers in order to keep ahead of the constant legislative changes that impact on most properties.
We are finding more and more that landlords are seeking out the services of professionals to keep abreast of legislative updates and make the most of the changes. Just a couple of weeks ago, a major amendment to the Residential Tenancies Act 1986 was announced stating that insurance details from landlords will need to be stated on future Tenancy Agreements. This is just one of the many legislative updates announced this year alongside the Healthy Homes Standards. If you are a residential landlord, are you confident that you know all of your legislative obligations?
Body Corporate legislation was updated in 2010/2011, although not that recent, the ramifications of this change are still being worked on. Since the updated legislation, every Body Corporate must establish and regularly maintain and review a long-term maintenance plan. Committees often need the help of Body Corporate Managers in arranging experts to draft and regularly review these plans, and often Body Corporates go through many plans before settling on a plan that is affordable and achievable. Our Body Corporate General manager Steve Garland discusses this in more detail here.
It’s getting harder and harder for the general public to manage their own property, but the silver lining of so many legislative changes is that it re-enforces the professionalism of the industry. Property Managers, now more than ever, need to be ahead of all legislation updates, need to have plans in place of how to deal with the property in accordance to legislative changes, and constantly keep up to date.
At Auckland Property Management we strive to be ahead of the game and provide the necessary training to our managers to be prepared for the changing industry landscape. If you have any questions about how recent legislation changes may affect your investment property, feel free to contact your Manager or myself on 021 965 581.
Residential Property Management
Healthy Homes Standards
Hi everyone, in our last newsletter I highlighted two of the new regulations in the Healthy Homes Bill, Ventilation and Heating. As promised, this time I will look at two more, Moisture Ingress & Drainage, plus Draught Stopping, and try to explain the requirements in plain English as translated from the Residential Tenancies Act.
So what are the new requirements around Moisture Ingress and Drainage? Landlords must ensure that their rental properties have efficient drainage and guttering, and efficient downpipes and drains, with emphasis on ‘efficient’ which I’m sure most landlords already do as this is good old fashioned general maintenance. If a rental property has an enclosed subfloor, Healthy Homes Regulations now require that it must have a ground moisture barrier, if it is “reasonably practical” to install. What is an enclosed subfloor? The air space under the floor that is enclosed between the ground and the floor level by walls that have only subfloor vents. The ground barrier is quite simple, a polythene sheet easily sourced from any building supplier held down by wire pegs making it easy to install and not requiring a qualified installer.
General Manager – Property Management
Auckland Property Management
New laws for careless damage and unlawful tenancies
New tenancy legislation was passed on 24 July 2019 which will affect landlords and tenants in a number of ways. Landlords and tenants will both benefit from a Bill that clears up liability for careless damage to a rental property. The bill passed its final reading in Parliament two weeks ago..
“This Bill makes practical changes to the Residential Tenancies Act 1986 to help ensure our tenancy laws better reflect responsibility for careless damage of rental properties,” Associate Minister of Housing Kris Faafoi said. “These changes will provide greater certainty to landlords, minimise cost and risk, and ensure tenants have the right information when deciding if they will rent a property,” said Kris Faafoi.
Landlords will need to provide insurance information in any new tenancy agreement, including whether the property is insured and if so, what the excess amount is. The statement in the tenancy agreement must also inform the tenant that a copy of the landlord’s insurance policy is available on request.
Latest Video Blogs
We are always looking for ways to provide you with more value and video blogs are just another way to answer helpful questions our landlords have. If you have a burning question you would like answered, get in touch with us today. Check out our latest video blog entries via the links below on the topics of:
Speaking at an upcoming Healthy Homes event
Our Business Development Manager Toni Heath will be speaking at an upcoming seminar on the healthy homes hosted by Roy Adams from Asset Consulting. The event is being held at our offices on Wednesday 28 August, see more information and to register click here.
Body Corporate Management
Long Term Maintenance Plans – How robust is yours?
We have noticed at recent Annual General Meetings that owners in general and Committees in particular are taking a closer look at the robustness of their individual Long Term Maintenance Plans (LTMP).
Since the Unit Titles Act legislation was changed back in 2010/2011, some of our clients are onto their third version of their LTMP. Many have had complex maintenance/repairs done during this time or had a full repaint of the exterior at the very least. All have utilised the funds held in their Body Corporate Long Term Maintenance Fund (LTMF) along the way. Some have also had to raise special levies to cover any shortfalls.
Because ownership of many unites is constantly changing, and due to the fact that no one has a crystal ball, elected Committees have a responsibility to all owners to have the tools available to not only accurately list the building elements and infrastructure of the property, but also to have a thorough estimate of the costs of repair/replacement to assist the Body Corporate in establishing a robust and accurate fund.
General Manager – Body Corporate
Auckland Property Management
Commercial Property Management
APM Property Investment Seminar – How to Look After Commercial Buildings
Join us for the free August Property Investment Seminar with speakers Sean Marshall, Chairman of Prendos, and Estela Guidote, Commercial Business Development Manager at Auckland Property Management.
Criteria on Choosing the Right Commercial Property Management Company
The New Zealand commercial property industry provides for some big names to reckon with when it comes to choosing the right commercial property management company.
Let’s discuss four key factors that need to be considered when choosing the right commercial property management company:
Consider the credibility of the company in the market and in the services being offered. Property Owners and Investors usually do their research first or may rely on ‘word of mouth’ by asking around or getting referrals from people they know. Investing in commercial property is all about the goal of receiving a positive return, which as we all know, can only be reached when risks are managed and controlled. So, look for a Commercial Property Manager who focuses on removing or reducing risks. Considering credibility also means that the management company needs to be well organised, with credible leadership, and one that focuses on the culture of the company to be one of in-depth planning and transparency.
- Quality of Property Managers
Look closely into the quality of the property managers within the company. Is there timely receipt of monthly rents? Do they build great relationships with their clients and tenants? Do properties have a high occupancy rate?
Auckland Property Management Staff News
Another few months of celebratory staff milestones here at APM. Body Corporate General Manager Steven Garland celebrated his 15 year anniversary at APM and was gifted a travel voucher, and Senior Property Manager Lea McLennan celebrated her 20 year anniversary and was gifted a travel voucher too. Thank you Steven and Lea for your continued support and dedication.
After six years, we sadly said farewell to our Property Manager Robyn Wiles who retired. Robyn has made a great contribution to our organisation and her absence will be felt in the industry.
The last couple of months have also been busy with our team growing. We are delighted to welcome to the team Margarita Dashevs’ka, Body Corporate Manager, Kura Friconnet, Property Manager, and Karishma Kumar, Body Corporate Administrator.
7 Questions With…Leanne Hale
Leanne Hale, Residential Property Manager
Q. How long have you worked in the Property Management industry?
I’ve been six years in Property Management and many more years in the real estate industry
Q. What has been one of your best experiences as a Property Manager?
Gaining new business through a recommendation from a current owner, finding wonderful tenants who are also thrilled to be chosen for the property – it’s such a buzz and everyone is happy.
Q. What do you think are the biggest challenges facing Landlords right now?
Keeping up with the changes in legislation. Here at APM we have great systems in place to help owners keep abreast of the new requirements to reduce risk and plan ahead so as to make improvements and changes less daunting.
Q. What does a day in the life of a Property Manager look like?
Varied – in and out of the office, depending on viewings/inspections and any movement of tenants out/in. There’s an increasing amount of administration with the changes and risks we face, Health and Safety etc. There’s plenty of support and experience in our office and I love the sharing of stories to lighten the load some days.
Q. What is your favourite city in the world and why?
San Francisco – my brother lives there so I have a local guide and many happy memories of many holidays spent there.
Q. If you could master one skill you don’t already have, what would it be and why?
I’d love to be able to sing – I’m married to a musician and I can’t join in the singing when we’re around the piano with family and friends.
Q. Do you have any hobbies, if so, what?
I love keeping fit. I’ve spent many years walking with friends regularly, including 7am every Saturday! One group I’ve been with for 25 years and another one for about seven years – great friendships have been made while walking and talking. I also have a love of elephants and can’t wait to go back to the Elephant Nature Park in Thailand to spend more time with these majestic creatures.
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