Adding Value Opportunity
Tenancy terminations can be disruptive, but they can provide an opportunity to add value to your property with the intention of increasing rental returns. Well orchestrated renovations can be done efficiently with the least amount of rent downtime but with greater rental gains in the longterm. Some client's like us to do the ground work of obtaining quotes, designs etc and then we present the concept to them for approval.
Seamless Transitions
It is very rare that a tenant remains in a property for the duration of owning the property, there are always tenants moving on for one reason or another, it is just part of owning a rental property. Consequently, all that we do during the tenancy is working towards an amicable and seamless end of tenancy. From selecting the ideal tenant, setting expectations for bond refunds at the outset, performing thorough inspections with consequences for substandard care of the property, and maintaining communication with the tenants throughout the tenancy, the termination and subsequent re-tenanting of the property is usually relatively efficient process.
Tricky Tenants
Changes to the Residential Tenancies Act on 12 August 2020 meant the end of the landlord's ability to terminate a tenancy with no reason by giving 90 days notice to a tenant. The aim of the the legislation was to provide security of tenure for tenants, which is good so long as the tenants are making their rental a home and treating it as such. There are always going to be times when this is not the case. The legislation is new and relatively untested but there are still ways to deal with tricky tenants. This is another valuable reason to have an experienced property manager looking after your rental property.
Property Marketable at Anytime
Keeping your property maintained in a marketable position throughout the tenancy makes these transitions pretty effortless.