The start of a new year is the perfect time to step back, reassess your investment strategy and reset your priorities as a landlord. A well-run rental not only protects your asset but also helps attract great tenants and deliver more consistent returns over time.
Here are six practical resolutions every New Zealand landlord should consider adding to their to-do list.
Resolution #1: I will visit my investment property
When was the last time you visited your rental property yourself?
Even the most reliable tenants won’t always flag every issue, particularly smaller maintenance problems that can become bigger (and more expensive) if left unchecked. Arrange a time with your property manager, and with appropriate notice to your tenants, to attend an inspection.
Walk through the property with a critical but fair eye. If repairs or upgrades are needed, act promptly. Staying engaged and responsive helps tenants feel valued, encourages them to take care of the home, and ultimately protects the long-term condition of your investment.
Resolution #2: I will have a clear maintenance plan
Efficient maintenance isn’t just good practice, it’s a legal responsibility for landlords in New Zealand.
Work with your property manager to agree on a clear maintenance and repair protocol. This should cover:
- How maintenance requests are handled
- Expected response times for urgent vs non-urgent issues
- What level of repairs your manager can authorise if you’re unavailable
- How updates and costs are communicated to you
Having clear guidelines in place means issues are resolved quickly, tenants stay comfortable, and small problems don’t turn into costly repairs.
Resolution #3: I will get my paperwork organised
Paperwork may not be exciting, but it’s essential.
Owning a rental property involves significant documentation and much of it needs to be kept for the duration of ownership (and for several years after selling). A well-organised digital or physical filing system should include:
- Purchase and sale documents
- Legal and agent invoices
- Loan statements and interest records
- Invoices for maintenance, repairs and improvements
If you’ve lived in the property at any stage, keep records of those dates, as they may be relevant for tax purposes. Good record-keeping makes life easier at tax time and ensures you’re well prepared if circumstances change.
Resolution #4: I will refresh and maintain my property
Well-presented properties attract better tenants, reduce vacancy periods and often command stronger rents.
A refresh doesn’t have to mean a full renovation. Simple improvements can make a big difference, such as:
- Repainting tired walls
- Refreshing flooring
- Updating kitchen or bathroom fittings
- Improving lighting
For houses, don’t overlook outdoor areas. Tidying gardens, cleaning windows, checking decks and adding low-maintenance plants can significantly lift street appeal and tenant satisfaction.
Resolution #5: I will be ready to act when opportunities arise
If you’re considering expanding your portfolio, preparation is key.
Take time to review your budget, understand your borrowing capacity and research the areas you’re interested in. Having financepre-approval in place allows you to act with confidence when the right opportunity comes along.
While it’s important not to rush big decisions, being unprepared can mean missing out altogether. The best investors balance careful planning with the ability to move decisively.
Resolution #6: I will plan and review my budget
Property costs don’t stand still and neither should your budgeting.
Make sure you have a buffer in place for unexpected expenses such as urgent repairs, vacancy periods or changes to interest rates. Tracking your income and expenses over a few months can help you build a realistic budget and identify areas where costs can be better managed.
A clear financial picture gives you confidence and helps ensure your investment remains sustainable over the long term.
A good property manager is more than just an administrator, they can be a trusted adviser who helps you attract quality tenants, protect your asset and maximise rental returns.
If you’d like a clearer picture of how your investment is performing or what it could be earning in today’s market, a rental appraisal is a great place to start. It’s a simple step that can unlock the full potential of your property.
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