It has been a couple of busy months for the team gearing up for the move and rebrand. It has not stopped us from growing and achieving goals as we welcome 6 new owners to our property management service.
Move and re-brand complete. Have you seen our new look yet?
We are delighted to officially be welcomed to the Altogether Better whānau as we rebrand under the Bayleys banner.
We join Bayleys growing national property management portfolio currently managing over 9000 properties nationwide. The rebrand included a move from our longstanding premises on Dee Street to a new central-CBD office fitted out with Bayleys branding.
“The Southland team joining the Bayleys brand is another exciting milestone to becoming New Zealand's leading residential property management provider”, says Stuart Bent, National Director of Property Management Services for Bayleys.
The Residential Property Managers Bill has been introduced in Parliament.
The bill aims to regulate the property management sector and is currently awaiting its initial reading and referral to a select committee, according to an announcement from the Ministry of Housing and Urban Development. Whether this occurs before the 2023 general election is contingent upon Parliament's schedule. If passed, the bill allows for an 18-month period for the Regulatory Authority to establish systems, create regulations, and set operational standards. Additionally, there will be an extra 6 months for residential property managers and property management organisations to obtain licenses before the full implementation of the regulations (24 months after the bill becomes law).
The proposed regulations include:
- compulsory registration and licensing for individual property managers and property management organisations
- training and entry requirements
- industry practice standards
- a complaints and disciplinary process.
What happens when a tenant withdraws from a tenancy following family violence?
The latest change to the RTA came into effect on 29/12/2022 and gives a tenant the ability to withdraw from a tenancy following family violence by giving the landlord at least 2 days written notice in the approved form and with qualifying evidence. This applies to both fixed-term and periodic tenancy agreements. Victims of family violence do not need to apply to the Tenancy Tribunal to end their tenancy.
If there are remaining tenants, the tenancy continues. The withdrawing tenant must give notice of the withdrawal to the other tenants no later than 2 days after their withdrawal from the tenancy. This does not have to be done in person and no evidence of family violence or other information needs to be shared. The remaining tenants are also entitled to 14 days rent reduction following the notice period of withdrawing tenant.
As with all delicate situations privacy and confidentiality are paramount. If the information is unlawfully shared, then a $3000 fine could be charged to the landlord. More information can be found on the tenancy services website. https://www.tenancy.govt.nz/ending-a-tenancy/withdrawal-from-a-tenancy-following-family-violence/
The Southland Rental Market
After the usual seasonal slowdown in the rental market over winter we are seeing a lift. Our listing numbers are slightly down compared with previous months, but still gathering high enquiry rates.
Bayleys Property Management, last 30 days.
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Gore has had a significant rise in the average rent for a 3 bedroom home. This is the first time that the average rent for a 3 bedroom is higher then Invercargills.
The average Invercragill rents have risen $30 year on year according to the latest REINZ rental review report. |