When dealing with Property Management you must have a thorough understanding of the Residential Tenancies Act 1986. This is a highly specialised aspect of Real Estate. It is fraught with the danger of litigation in almost every function you complete. A competent Property Manager not only gains a strong understanding of their role, they continually increase their knowledge of insurance requirements, changes to legislation and industry trends to ensure all clients gain the highest level of service at all times. Agents are often engaged in picking up the pieces of poorly self managed properties after it has cost the owner countless hours in trying to resolve conflicts with their tenant, not to mention the monetary cost.

If you are at all considering managing your own investment property then you may like to consider some of the following points:

1. Do you know enough about The Residential Tenancies Act 1986 in order to maintain a fair and professional relationship with your tenant?

Yes, the tenant could sue you if you conduct yourself outside the Residential Tenancies Act 1986! We certainly don’t want that.

2. How much do you know about the tenant selection process?

Asking the right questions and getting the right answers before you put someone in a property can save untold heartache and frustration, not to mention $$! Our access to one of the most comprehensive credit checking databases allows us to make a fully informed presentation of prospective tenants to you.

3. Have you lodged your tenants’ bond money in accordance with the Residential Tenancies Act 1986 requirements?

Did you realise if you have not, you may be liable for a fine.

4. Do you know the right procedure when dealing with rental payment arrears?

Have the correct notices been issued and have enough days been allowed in the calculation of dates? If not, your notices may be totally invalid and you will have to start the procedure all over. Ouch.

5. Do you know enough about The Residential Tenancies Act 1986 to effectively represent yourself in the Tenancy Tribunal?

The procedure must be precise. If you make mistakes it can cost you dearly.

6. All good things must come to an end.

Could you successfully terminate your tenancy and recover possession of your property without the need to go to the Tenancy Tribunal? Do you know the correct procedure, the right notices to issue and the correct time frames? Are your people skills effective in getting what you require?

7. Would you be able to recover any outstanding debts?

At what point do you go to the Tenancy Tribunal, how do you get the Bailiff involved, will the national tenancy database assist in your debt recovery?

8. Could you complete a Property Condition Report with enough detail to stand up in the Tenancy Tribunal if needed?

If it is not a precise record then it may have little or no value if needed for evidence. Harcourts Property Management can take care of all aspects of managing your rental property, to ensure everything is carried out in line with the Residential Tenancies Act, so you can simply sit back and relax knowing your property is being looked after by the professionals.