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How much to increase rent by in response to RTAA 2020

This week's question comes from Joss: What rent premiums are landlords typically applying to addressed increased risks associated with the Residential Tenancies Amendment Act 2020? Without a doubt, certain provisions of the Residential Tenancies Amendment Act 2020 (RTAA 2020) shift the balance of risk and reward against landlords. Anecdotally many of our members have indicated that th...
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{{name}} - APIA Auckland Property Investors

​COVID-19: Freeze on rent increases explained

Based on the number of inquiries we have received concerning the temporary rules for rent increases (under the COVID-19 Response (Urgent Management Measures) Amendment Act), this FAQ feels appropriate: What is being frozen? Rent increases not rents. Landlords are prohibited from increasing rents during the freeze period. What is not being frozen? Rents and rent increase notice...
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{{name}} - APIA Auckland Property Investors

Covid-19: Some tips for landlords to manage rent arrears

It should come as no surprise to anyone that over the last two weeks, most of the inquiries we have received from landlords concern rent. More specifically, arrears. Our responses to each of these inquiries largely reflect the following: 1. Get yourself sorted It has been made abundantly clear to APIA members that in times like this, cash-flow is king. Take a good look at your cash...
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{{name}} - APIA Auckland Property Investors

Unconventional ways to increase rent

This week's question comes from John (paraphrased): With respect to rent increases can you: 1. Give notice for two or more phased increases e.g. rather than one notice for $20 increase in 60 days give one notice for two $10 increase, one in 60 days and another in 240 days)? 2. Have as a condition in the tenancy agreement to increase the rent by $x per head for any additional...
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{{name}} - APIA Auckland Property Investors

Who can receive rent?

This week's question comes from Jae (paraphrased): I live in Korea and own an Auckland rental property. My son lives in Auckland. Can he, on my behalf, sign a property management authority with a property manager and receive rent as his income? Katrina O'Connor from Barfoot & Thompson kindly responds below: Your son would be able to complete and sign a property management au...
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{{name}} - APIA Auckland Property Investors

John Priest: Being a successful landlord, my way

Firstly, be careful who you accept as a tenant. Sorry property managers, but I insist on managing my own properties and I consider the most important aspect of this to be tenant selection. I want to meet prospective tenants and see if I have a good feeling about them. Whatever your instinct tells you it must be backed up with research. Once when I had had a shortage of...
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{{name}} - APIA Auckland Property Investors

How to set rent?

Setting your rent can be a bit of a Goldilocks Paradox: charge too much, you turn off inquiries; charge too little, you compromise the performance of your property. The right amount of rent will not only help you attract the right types of tenants, it also ensures the continued success of your rental portfolio. We asked five APIA investors to share their rent strategies and elab...
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{{name}} - APIA Auckland Property Investors

Rent: A classic landlord dilemma

A troubling report inferring bidding wars for rentals has prompted us to consider one of the moral dilemmas of being a landlord - How much is too much to charge tenants? While the Ministry of Business, Innovation, and Employment has clarified there is nothing in the Residential Tenancies Act which 'precludes the tenant from indicating what they would be willing to pay for a ...
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