Increase Your Portfolio with a New Build

Are you looking to expand your portfolio and do a spec build or two for further rental income? A good thing about new builds is the ability to claim interest on the mortgage as a tax deduction.

Build7 Wanaka is a bespoke design and build company who listen to a client's wishlist and work hard to achieve a desired outcome.

Their in-house team includes architectural designers, quantity surveyor and project managers sitting side-by-side to design a house that suits the land and, its orientation while respecting the client's investment budget throughout the journey.

Build7 Wanaka is a one stop company, assisting with plans through to working drawings, council consent, interior design, construction right through to code of compliance and maintenance, coupled with a Masterbuild 10 year guarantee.

They can help you find the right professionals to find suitable land to build on and source finance.

They pride themselves on quality, and don't work to cookie cutter plans for your land, but aim to capture thermal gains from sun in the design and aid clients with product specifications suit your investment.

Talk with the Home & Co. team for more information about Build7 Wanaka who are happy to answer your questions about the possibility of building a new rental home with them.

3 Reasons to Monitor Tenancy End Dates

Landlords should keep a constant check on which fixed term tenancies are ending. Checking dates 10 to 12 weeks ahead is recommended. Why?

1. It ensures options to renew or extend are discussed with the tenant/s before the tenancy agreement rolls over to periodic.

2. It gives the opportunity to review an annual rent change and give notice to the tenant within the required time frame.

3. If owners are moving back in / house being sold / etc. , it ensures sufficient notice is given to tenants advising their vacate date and the procedure for vacating and getting their bond back.

10 Steps to Manage Rent Arrears

Have a rent arrears process and stick to it -

1. Monitor rent on a daily basis including a bank recon

2. Daily communication by SMS or e-mail with tenant/s making them aware of the missed rent payment

3. Use an SMS template to offer a brief text with relevant information.

4. If the first sms doesn’t yield results - talk to the tenant about what’s happening

5. If the tenant is 4 days in arrears, email a ‘Notice of Overdue Rent’. Use a template to ensure correct information is given to the tenant regarding:

• The amount of overdue rent

• Dates for which the rent was/is overdue

• Consequences of failing to pay rent within 14 days

6. Discuss how the tenant/s plan to bring rent up to date and when

7. Monitor to see if there are any historic issues with non-payment of rent or is this a one-off

8. Discuss options with tenants, possibility of having a flat mate, suggest budgeting service or work & income or looking at cheaper rental home options

9. Follow up any verbal agreement made with a written agreement

10. Make the tenant aware how habitual rent arrears can affect the tenant’s credit history for any future tenancies.

Healthy Homes - 5 Reasons to Use an Independent Assessor

As an owner of a rental property you’ll be aware that all properties now need to have a Healthy Homes Certificate of Compliance. To gain this, a 13 page assessment report requires completion and we highly recommend using an independent assessor over doing it yourself. Why, you may ask?

• Independent assessors are experts in their field

• They have the tools on hand required for calculations, e.g. heating calculation

• They have an app whereby they insert the information and out comes the report

• If there is ever a dispute, the report has been done by an impartial party and could save a huge fine

• They do all the leg work for you!

Owners are kept informed at every stage and receive both the report and the Certificate of Compliance as soon as the property complies. When non-compliant, we work with our owners and tradies to achieve compliance as soon as possible.

Let us help you make this a seamless process!

To Allow or Not To Allow - Pets in Rental Homes

As an owner, is the property purely investment? If so, maybe consider allowing pets as many good, long term tenants have a dog or cat, but be sure to include a pet clause in the tenancy agreement. For example this would include limiting the pet to the one named, covering any damage caused and having carpets commercially cleaned at the end of the tenancy.

If the property is one you wish to move into in the future, then you may decide that tenants with pets are a no go. Or maybe you decide you don’t want pets in your property due to previous bad experiences. Asking for a pet reference is a good idea either way.

Ultimately it is the owner’s decision and until the government changes yet another law, it will remain the owner’s decision.