Goodwins profile: Jacques Ryan (Bell) – Property Manager
New legislation and tougher economics are changing the game for landlords, says Jacques. “Owners need to be more switched on and involved – they’re running a business in a tough market.”
Landlords face a raft of changes concerning privacy, tax deductibility, and healthy homes. Is it getting harder for landlords to make the numbers stack up?
“Things have certainly changed. Back in the day, it was buy, rent, collect the money, not a problem – for the most part. But now the rules – and the economics – are much tougher. Owners need to be more switched on and involved. There’s more competition for high-quality tenants. So you’ve got to know what to do to secure them and where money is best spent. Landlords are running a business in a tough market. Everyone wants high-caliber tenants, but that also requires high-caliber landlords.”
You’ve been with Goodwins for seven years. What changes, other than legislation, have made an impression on you?
“Technology has been a huge boost to how we operate and keep landlords up to date. We’re far more efficient than we used to be. A good example is our inspection and maintenance software. Tenants often remain silent about damage and necessary repairs. Now they can alert us through the app, and we can manage the entire process. It’s far more transparent and a better way to safeguard our clients’ investments.”
We keep hearing the words ‘housing crisis’. Is that still the case?
“The cyclone earlier this year added new pressure, with displaced homeowners entering the rental market. But that pressure seems to have eased. At this time of year, people are more inclined to stay put. But people keep moving. I always encourage landlords to use the gap between tenancies to invest in their assets – install a heat pump, lay new carpet, add a lick of paint, and complete work to achieve compliance.
Why do landlords seek out a professional manager, like Goodwins?
“There’s much more legislation to trip up landlords. A host of regulatory changes introduced under the Residential Tenancies Amendment Act 2020 are now in play. And they’ve sent a shiver up the spine of some landlords, who are now less likely to give the benefit of the doubt to marginal renters when they weigh up the pain and cost of exiting an agreement. Under the amended legislation, landlords can no longer end tenancies without cause – they must provide specific reasons and observe a 63-day or 90-day notice period. Getting the right tenants at the beginning will avoid a massive headache. That’s where we can make a huge difference.”
Don’t get caught out by changes to legislation impacting landlords and the rights of tenants. Call Jacques on 021 278 7762 to see where you stand and how Goodwins can make property management a walk in the park.