The Landlord of the Year Award
Each year at the National Property Investor's Annual Conference promoted by the New Zealand Property Investors Federation (NZPIF) and hosted by a regional Property Investors Association, the NZPIF bestow the award of Landlord of the Year on a Property Investor Association Landlord Member, put forward by their regional Association.
The purpose of the Award is to :
- Seek to identify and honour an excellent example of a landlord amongst the members of Property Investors’ Associations affiliated to the NZ Property Investors’ Federation; and
- Aim to highlight professionalism and good landlording practice of Property Investor Association member landlords.
For those who wish to partake in the Landlord of the Year Competition, Capital PIA requests interested candidates to download and fill out the application form (right click link -save)a form which only asks the applicant to document why they believe they should win the "Landlord of the Year" Award.
We submit regional applications for the Landlord of the Year Award to the Federation and based on the number of applications received by the NZPIF, the judging panel will draw up a short list and the applicants will no doubt be contacted by a panel judges who (we believe) may ask a few (five or so) quick questions to qualify their final selection.
The competition is open to private landlords irrespective of their folio size; an entrant can have one property or twenty... so the points the judging panel will be looking for is having established a good landlording management processes and any other points of difference you may have over another applicant.
The following are some standard processes landlords should practice and candidates may be questioned on by the judging panel; the processes may well be refined with an individuals experiance over time but as the competition is open to all levels of private landlords there will be a common criteria looked for by the NZPIF/DBH judging panel.
WIIFM (What's in it for me?)
The prize that the NZPIF is offering is up to two full registrations to the Annual NZPIF Conference including travel (a total prize value of up $1500-). DHB will be presenting a Landlord of the Year Certificate and the Landlord of the Year Cup - all wrapt with the Media fanfare.
Some Basic Processes
- Tenant Selection: documented selection criteria [using a check sheet to ensure consistancy]
- Managing the Tenancy Documentation:
- Timely bond lodgment (23 days);
- Receiving Rents (using a: spreadsheet, dedicated program; accounting package [Xero]; or other to record rental income)
- Incident recording
- Financials; [ monitoring profitability etc]
- Property Inspections: regular inspections to identify maintenance matters [building maintenance, tenant induced wear & tear, grounds & residency tidiness as per residential tenancy agreement]
- Tenancy Issue Resolution: management the breach of any tenancy agreements
- Explain your process of how would you manage late payments; noise etc?
- For clarity, be able to refer to landlording resources (DBH Tenancy Services Web Pages, RTA Legislation, Landlording training notes etc) [You will not be expected to demonstrate any of this :-) ]
- Managing Property Ongoing Maintenance.
- Major Maintenance: usually scheduled for between tenant changes;
- Minor Maintenance: arranged with co-operation of tenants [& working within RTA provisions.]
The NZPIF are likely to ask questions like:
- With reference to selectng how you selected your last tenant, how did you select them and what checks were made; and
- Are you involved in (the management of) your local Property Investor Association or the NZPIF
Capital PIA have produced an application form that you can use to respond on, you will note it has a place for your consent to allow the Association to submit your application to the NZPIFas well as acknowledge your acceptance of the conditions.