If you’re a landlord going overseas, this is a must read! The Residential Tenancies Act sets out your obligations regarding the management of your rental property. Find out what you need to do to avoid being given excessive fines.
Whether it’s for a holiday or to live, if you’re a landlord going overseas, you have certain responsibilities before you board your flight. As Auckland rental property managers, we assist landlords just like you with the management of their rental property whilst they are overseas. Today we’re going to explain exactly what you need to know before you go.
What Should I Know As a Landlord Going Overseas?
In New Zealand, our Residential Tenancies Act allows landlords to rent out their property regardless of where they live. Any landlord who will be out of the country for more than 21 consecutive days, must appoint an agent. The agent is someone who will act on their behalf.
The agent will have the same legal responsibilities, requirements and obligations that a regular landlord has. This means they must be contactable by the tenants at all times, just like you would have been. If you fail to appoint an agent, you may be liable for exemplary damages of up to $1000 under the Residential Tenancies Act.
Once you have appointed an agent, you must:
- Tell the tenant and give them information on the agent’s name, phone number and address for service.
- Complete a change of landlord form from Tenancy Services
- Inform the Bond Centre at Tenancy Services that there is a new agent, and pass on their details
When you do return to New Zealand, you must tell both the tenant and Tenancy Services that you are back and are resuming landlord responsibilities once more.
Best Advice for a Landlord Going Overseas
You know you need to appoint an agent. Rather than choosing a friend or family member, you should seriously consider using a professional property manager. Working in the industry, they already understand a landlord’s obligations and what they can and cannot do. A rental manager can also ensure your rental receives regular inspections, that rent is being paid on time and any repairs are dealt with in a timely manner.
Other great advice includes:
- Regularly checking bank accounts to ensure rent is being paid
- Remain in contact with your agent
- Ask your agent to follow a maintenance schedule you’ve created
- Give your agent a list of your preferred tradespeople
- Allocate a budget for repairs your agent can use, without needing to contact you
We’re more than happy to become your property agent on a temporary or permanent basis. Contact us directly today so we can get things organised and manage your rental while you are overseas.
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