Short-term tenants more secure

SEVERAL years ago the rental tenancy board was established which took security bonds from landlords and probably for good reason. But now the public service decides whether your carpet is damaged etc and landlords have less control over their assets. In a dispute the residential tenancy commissioner makes a decision over bond. There’s no mediation and the decision is near final. Landlord insurance only covers malicious damage not bad housekeeping. Unfortunately now I have to be far more rigorous examining tenants’ credit his- tory, criminal record and references. My risk profile has increased and I have to be far more careful. Lower standards of education and poorer work history mean less successful tenancies. I can’t risk housing unhealthy people, casual workers or less able tenants. I have to pay a mortgage and make a profit.

With current legislation and tourist numbers it is not attractive for many landlords to have long-term tenants. I don’t have any. Now it is more profitable and secure to rent short to mid term where tourists and holiday makers are the backbone of my income and I have more control of profit and loss and less likelihood of legal action as tenants have left the state.I’m surprised at the number of people that use Airbnb and although they decide the security of your property it is a process of mediation and not oneway communication like the tenancy board. With a merchant facility from a major bank it is easy for most landlords to charge credit cards, maintain security of the property and make a profit.