Becoming a landlord for the first time can feel overwhelming. Between tenant selection, legal compliance, rent collection and property maintenance, there is a lot to get right. To help you start your journey with confidence, we’ve answered the ten most common questions first-time landlords ask.
1. Do I need a property manager, or can I self-manage?
This is the most common question we hear from new landlords. The short answer: you can self-manage, but most first-time landlords find professional property management saves them time, money and significant stress.
Self-managing means handling everything yourself – advertising, tenant screening, rent collection, maintenance, inspections, and any legal disputes. It can work well if you have plenty of time, enjoy administration, and are confident in New Zealand tenancy law. However, most landlords quickly discover that even one difficult tenant or unexpected maintenance issue can undo months of savings.
A professional property manager brings experience, systems, and industry relationships that are hard to replicate on your own. At Aspire, for example, we handle everything from start to finish, so you can focus on other things while your investment grows.
2. What does a property manager actually do?
A good property manager takes care of every aspect of your rental property, including:
- Marketing your property with great photos and well-written listings, with access to premium listings on Trade Me only available through a property manager
- Setting the right rental price based on current market data
- Screening prospective tenants thoroughly (credit checks, reference checks, background checks – some checks that self-managing landlords don’t have access to)
- Preparing legally compliant tenancy agreements
- Collecting rent weekly and chasing any arrears promptly
- Conducting entry, exit and routine inspections (typically every 3 months)
- Coordinating repairs and maintenance
- Ensuring your property meets Healthy Homes Standards
- Reviewing rent annually in line with market conditions
- Representing you at the Tenancy Tribunal if required
In short, your property manager is your expert on the ground, looking after your investment as if it were their own.
3. How do I choose the right property manager?
Not all property management companies are equal. Here’s what to look for when choosing one:
- Google reviews and reputation — look for a company with a high rating and a large number of genuine reviews. A score of 4.9/5 with hundreds of reviews is a strong signal of consistent service.
- Transparent fees — ask for a clear breakdown of all fees upfront. Some companies add fees to maintenance bills, charge for financial statements, or have hidden costs. Choose one that is fully transparent.
- No lock-in contracts — a good property manager should earn your business every month. Avoid companies that lock you in long-term with no exit clause.
- In-house maintenance — a company with its own maintenance team can respond faster and at a better price than one that relies solely on external contractors.
- Specialisation — choose a company that focuses exclusively on property management, not one that also sells real estate. Their entire focus should be on managing your investment.
- Communication — ask how often you’ll hear from them, and through what channels. You want a manager who is proactive, not reactive.
Ask your prospective property manager how they handle rent arrears, what their average “day on the market” is, and how many properties they manage.
4. How much does property management cost?
Property management fees vary, but typically range from 7.5% to 12% of weekly rent collected in New Zealand. At Aspire, we charge a competitive percentage-based management fee with no hidden extras.
Here’s what you should clarify before signing up with any property manager:
- Is the management fee charged on rent collected or rent due? (Charged on collected is better — if the tenant doesn’t pay, neither should you).
- Are maintenance bills marked up? Some companies add a percentage to every invoice.
- Are routine inspections included, or charged separately?
- Are there fees for financial year-end statements?
- What does the letting fee cover?
Property management fees are fully tax-deductible, which helps offset the cost significantly. A good property manager should also be helping you achieve the best rental returns – meaning the fee pays for itself.
5. What are the Healthy Homes Standards, and do I need to comply?
Yes – all rental properties in New Zealand must comply with the Healthy Homes Standards. As of 1 July 2025, every rental property must be fully compliant before it can be rented out.
The standards cover five key areas:
- Heating – a fixed, efficient heating source in the main living area capable of reaching 18°C
- Insulation – ceiling and underfloor insulation meeting minimum R-value requirements for your region
- Ventilation – opening windows in living areas and bedrooms; extractor fans in kitchens and bathrooms
- Moisture and drainage – adequate drainage, and a ground moisture barrier in enclosed subfloors
- Draught stopping – gaps or holes that cause noticeable draughts must be blocked
Non-compliance can result in fines and penalties, and tenants can apply to the Tenancy Tribunal. A property manager will help you assess your property and ensure it meets all requirements before your first tenancy begins.
6. How do I find good tenants?
Finding the right tenant is one of the most important things you’ll do as a landlord. A great tenant pays on time, looks after your property, and stays long-term. A poor tenant can cost you thousands in lost rent and repairs.
The key steps to finding good tenants are:
- Advertise professionally – quality photos, an accurate description and the right rental price attract better applicants
- Screen thoroughly – run credit checks, contact previous landlords, and verify employment. Don’t skip any of these steps.
- Meet every applicant – never rent to someone who hasn’t physically viewed the property
- Trust your process, not your gut – a thorough screening process protects you from bias and bad decisions
At Aspire, we also run social media checks, justice department checks and district court screenings as part of our standard tenant selection process. This level of diligence significantly reduces the risk of tenancy problems down the line.
7. What is a tenancy agreement and what should it include?
A tenancy agreement is a legally binding contract between you and your tenant. In New Zealand, it must comply with the Residential Tenancies Act 1986. It should include:
- Names and contact details of all parties
- Property address and description
- Weekly rent amount and payment method
- Bond amount (typically 4 weeks’ rent)
- Start date and whether it is a fixed-term or periodic tenancy
- Any specific terms agreed upon by both parties (e.g. no pets, no smoking)
There are two types of tenancies in New Zealand. A fixed-term tenancy runs for a set period (e.g. 12 months) and provides more certainty for both parties. A periodic tenancy has no end date and continues until one party gives notice. Each comes with different rules around ending the tenancy – make sure you understand both before signing.
Under the Residential Tenancies Amendment Act 2024, there are new rules around fixed-term tenancies automatically rolling over into periodic tenancies, and updated notice periods. Your property manager should keep you informed of any legislative changes.
8. What happens if my tenant doesn’t pay rent?
Rent arrears are one of the biggest concerns for first-time landlords. The good news is that with the right processes in place, they are largely preventable – and manageable when they do occur.
Here’s how a professional property manager handles rent arrears:
- Rent is collected weekly, so arrears are identified quickly
- A formal notice (14-day notice to remedy) is issued as soon as payment is overdue
- If the tenant still doesn’t pay, the property manager can apply to the Tenancy Tribunal
- The Tribunal can order repayment and, in serious cases, terminate the tenancy
At Aspire, we have a zero-tolerance policy on rent arrears. Our strict processes mean we catch and act on non-payment early, before it becomes a serious problem. If you’re self-managing, it’s important to know that being too lenient at the start can make arrears situations much harder to resolve.
9. How often should my property be inspected?
Regular inspections are essential for protecting your investment, maintaining your insurance, and ensuring your property is being looked after.
There are three types of inspections:
- Entry inspection – conducted before the tenant moves in, documenting the property’s condition in detail with photos
- Routine inspections – conducted every three months throughout the tenancy. Most insurance policies require at least four per year.
- Exit inspection – conducted when the tenant vacates, comparing the property’s condition to the entry report
During routine inspections, your property manager checks for maintenance issues, Healthy Homes compliance, and any lease breaches. Detailed reports with photos should be provided to you after every inspection so you always have a clear picture of your property’s condition.
10. What are my obligations as a landlord?
As a landlord in New Zealand, you have legal obligations under the Residential Tenancies Act. The most important include:
- Providing the property in a reasonable state of cleanliness and repair
- Ensuring the property meets the Healthy Homes Standards
- Maintaining the structure, exterior, and fixed appliances
- Giving the required notice before entering the property (usually 48 hours, except for emergencies)
- Lodging the bond with Tenancy Services within 23 working days
- Providing a written tenancy agreement
- Not retaliating against tenants for exercising their legal rights
Failing to meet your obligations can result in fines, orders from the Tenancy Tribunal, and damage to your reputation as a landlord. A property manager will help ensure you stay compliant at all times.
Ready to get started?
If you’re a first-time landlord in Auckland, Hamilton or Tauranga, Aspire Property Management would love to help you get started on the right foot. We manage over 1,100 properties across New Zealand and are rated 4.9/5 on Google by both landlords and tenants.
We offer free rental appraisals, no lock-in contracts and complete transparency on fees. Get in touch with our team today to find out how we can make property investment easy and stress-free for you.