Renovating tenanted property?
Question from Gary updated on 26th August 2013:
I am looking to purchase a tenanted property but want to do some upgrade work on it. Work would have a disruption factor to tenant. What are some issues when upgrading a tenanted property? It would seem to be easier to buy on vacant possession, upgrade and re-let?
Our expert Juliet Robinson responded:
You haven’t indicated what upgrade work you want to do. Is it minor or is it major? How long will the work take? You have indicated that it would be likely to cause disruption for the tenant. You have a right to do necessary maintenance while a property is tenanted but you must make reasonable arrangements with the tenant so that they aren’t disturbed too much. How would you like to have someone upgrading your house while you’re living in it? I think you’ve really answered your own question. If you upgrade a vacant property you won’t be upsetting tenants, you’ll be able to get the work done at your own pace and when you’re ready to re-let you will be able to review the rent before advertising for a new tenant. Definitely the tidiest and least stressful way to go!
Quinovic's outstanding people and systems provide the most professional, effective and reliable residential property management service in the NZ market for over 22 years.
Search the Ask an Expert archive
Browse all questions in the Ask An Expert Archive »