How long will it take to lease my property?
With the correct marketing strategies and price set within the market conditions, your property should lease, on average, between 3-21 days. Our managers abide to a marketing checklist guide. ALL properties have 7 days per week viewing options (unless specified otherwise by you), and video marketing – so we can ensure your
property has maximum opportunity to be viewed and leased faster with better quality tenants.
How do you determine the best way to rent my property?
We always aim to achieve the maximum rent possible keeping in mind other factors to ensure the property is rented quickly. To do this, we consider these factors:
- Demand – is there currently a high or low demand for rental properties? This can be seasonal and affected by a number of factors.
- What is available now – we look at properties currently available for rent and consider their location and features for comparison to calculate a maximum rent for your property.
- What we have rented right now – we compare your property with what we have currently rented, taking into account property location and features.
- Department of Building and housing rental statistics – Is your rental upper/lower quartile, is there a large/small standard deviation?
These factors allow us to give you enough information to set the right rental amount for your property so that it does not become ‘stale’ when marketed.
What if I want a rent amount that is higher than your recommendation?
You may place your property on the market at whatever rental amount you wish and our managers will communicate regularly with you to give feedback during the letting
What is the length of the average tenant?
For residential properties, the fixed term is usually 6 or 12 months depending on the time of year it is let. We look to fix all our tenancies during the busiest time of the year (January to March) then renew for a 12-month period. This ensures a greater tenant pool to select from with premium rents achieved , little vacancy and a desirable cycle of only letting during the best times.
Do you guarantee the tenant?
Whilst we can’t realistically guarantee the performance of the tenant we do practice ‘prevention is always better than cure’. Tenants are stringently checked and leading processes followed to set up the best tenancies. Couple this with excellent communication throughout and practical management for best outcomes, we have very little drama!
We recommend that a landlord protection insurance may be the solution for owners if the risk greatly concerns you. Events such as tenants losing a job an unable to afford to pay rent can be mitigated with these types of products.
What tenancy documentation is required?
All tenancies are subject to the Residential Tenancies Act.
The tenancy documentation includes 1. – 4. Below and a full application form with photo
ID/proof of income/references etc.
1. A Tenancy Agreement
2. A Condition Report with CD of between 200-500 photos
3. A Bond Lodgment Form
4. A key receipt form recording keys distributed
Who signs the tenancy documentation?
It is best practice for our professional staff to sign on your behalf, so we can ensure that all tenants are fully aware of our strict policies, and that we cover any special conditions
given. You will receive a copy of any documentation signed on your behalf.
May I give you some special instructions?
Yes. You may give us special instructions in relation to the property and the way it ismanaged, provided the instructions are lawful. These special instructions will need to be
either specified in Oracle’s Management Agreement or provided to us in writing.
If I allow a pet at my property, what expectations will be given to the tenant regarding the pet?
If a pet is permitted by you we will provide the tenant with strict written conditions.
The major conditions would be that:
1. The pet may not come inside the house.
2. The pet must be removed from the property if it becomes annoying or bothersome to neighbours (after reasonable warning has been given in writing).
3. The tenant must be responsible for any damage caused by their pet, and clean up any mess left by the pet.
4. Carpets required to be cleaned and receipt of such provided at the end of the tenancy.
If the tenant has a pet, can I ask for an extra bond (a pet bond)?
Unfortunately no, charging a bond in excess of the maximum 5 weeks rent in total(usually 4 weeks bond/1 week in advance) is illegal in New Zealand.
What happens if the lease on a Tenancy Agreement expires?
Oracle Property Management would not allow this to happen without your permissionas your agreement would become a periodic agreement and you have less control of the time frames for tenancies on your rental property.
If we take on the management of a property where this has happened the agreement continues on a continuation (or holding over) basis. Each party will then be required to give the following notice period to terminate the Agreement.
- Tenant: 21 days
- Owner: 90 days
- Owner: 42 days from unconditional date if the property is sold
What keys must be supplied to the tenant?
All tenants listed on the Tenancy Agreement should be given a full set of keys. This includes keys to all external doors, windows, garage or letterbox locks. We retain a full master set of keys at the office. If only one set is issued we are unable to guarantee how many extra keys have been cut and not handed in at the end of the tenancy.
This may necessitate having keys cut at your expense.
How secure must the property be?
The law requires that an owner must provide and maintain locks and other security devices in order for the property to be “reasonably secure”.
It is recommended that key operated deadlocks be fitted to all external doors and windows.
What if the tenant wants the locks changed?
If the tenant wishes to alter the existing locks or add other security devices to make the property more secure, the tenant must obtain the owner’s prior consent and pay all costs. The tenant must provide the owner/agent with a copy of any new keys.
What about smoke alarms, light bulbs and tap washers?
It is not the owner’s responsibility in New Zealand to provide working smoke alarms at the property. Oracle Property Management does encourage this practice however.
Light bulbs – at the start of the tenancy all light bulbs should be at the property and in working order.
During the tenancy, the tenant is responsible for replacing any smoke alarm batteries and light bulbs.
We are not legally qualified to check the functionality and suitability of smoke alarms and, as such, recommend the use of qualified professionals for that purpose.
Who pays for water usage?
If there is no individual meter for the rented premises, as in the case of blocks of older style units, a tenant cannot be charged for water usage.
However, the tenant is responsible for any cost of water used during the tenancy if the property has an individual water meter and has legally prescribed water efficiency devices.
Please note Watercares fixed charges cannot be passed onto tenants.
We do recommend that where possible tenants pay their rental amount each week and include an amount for water that accumulates as a credit until a water invoice is issued to them.
Who is responsible for maintaining the lawns and gardens? And who is responsible for clearing gutters?
Unless otherwise agreed, the tenant is responsible for maintaining the lawns and gardens to the standard they were given at the start of the tenancy.
Any major trims, hedges and trees – are the owner’s responsibility.
If the property is provided with watering systems these need to be working and kept maintained during the tenancy. It is the owner’s responsibility to clear the gutters.
Can I inspect the property whenever I like?
You can and the tenant needs to be given between 48 hours’ and 14 days’ notice.
If the tenant withholds consent we will arrange a time that suits both parties and provide written permission to the tenant for this to occur.
How can I terminate the tenancy?
There are 4 main ways that a tenancy can be terminated.
1. To end the tenancy when the fixed term of the agreement is due to expire, eitherparty can give at least 30 days’ notice.
2. To end a tenancy after the fixed term has expired (i.e. with a continuing periodic tenancy). A tenant is required to give at least 21 days’ notice and the owner must give at least 90 days’ notice to terminate the agreement any time after the fixed term has ended.
3. To end a tenancy due to a breach of the agreement an application for mediation or tribunal would be made = time frames can vary.
4. If the owner or the owner’s immediate family or employee wants to occupy the property then the owner can provide 42 days written notice to occupy the property
if the tenancy is of a periodic nature.
Can a tenant break a fixed term tenancy agreement?
Residential Tenancy Agreements are legally binding contracts. However, if a tenant wishes to break the Agreement and vacate the property before the fixed term expires, the tenant is responsible for the following:
• Rent until the date a new tenant takes over the property, or until the fixed term expires (whichever happens first)
• Any agreed advertising costs.
It is important to note that the owner/agent must make reasonable efforts to minimize any potential losses the tenant may suffer in this situation. A tenant may apply to have the rent reduced if the letting process has taken longer than usual and in some cases apply to break their lease forthwith if there are extenuating circumstances.
Who pays for damage by the tenant?
The question of what constitutes “damage” and what is considered acceptable “wear and tear” is always an issue in property management.
In cases of damage to a property attributable to a tenant that is not considered normal wear and tear, normally the bond will provide sufficient protection to remedy the damage.
If not, the owner can take action in the Tribunal against the tenant, we will facilitate this all on your behalf and ensure you are updated. This is where our chattel inventory/condition reports with photosets are critical.
What about someone to contact in emergencies?
If it is difficult to contact you on a routine basis you can nominate someone locally to act as your representative in the case of an emergency and that this person is advised of
the extent of their authority. That person’s name and contact details should be recorded in the Management Authority or, alternatively, provided to us in writing.
What should I do if I change my address, bank account, phone number, email?
Please notify us in writing as soon as possible.
What do I do if I misplace a rent statement?
All statements are emailed to you and your accountant (if you wish). You can also ask your manager to arrange for a replacement statement to be sent to you.
What happens to any mail that comes addressed to me at the property?
Tenants are asked to forward to us any mail addressed to you.
It is highly recommended that you request New Zealand Post to redirect your mail to you.
If I want to sell my property, can Oracle Property Management help?
We do have relationships with real estate sales teams to service the needs of our property management clients and make the process easier for all concerned.
For information on how we can help you sell your property or assist you in buying another property, contact your personal Property Manager.
Download Owner FAQ