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Replace Value Choice from the Assessment Of Condition Of Rental Property

Replace Value Choice from the Assessment Of Condition Of Rental Property

Aug 6th, 2022

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How to Replace Value Choice from the Assessment Of Condition Of Rental Property

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hi im ross from kermsmith 150 group property accountants im just been going through a few different examples and the other day i did some examples in palmerston north what rentals i can look at today im going to look at a hamilton example its one that i used for a recent webinar that we did and just an example some different sort of properties out there and what sort of things i might look at um so im going to share my screen and were going to look at uh yeah hamilton property so this is yeah a hamilton property its in hamilton east um its actually sold um so its at 22a to our um street in hamilton um east its asking prices 999 lets say a million dollars make it easy its a block of four times two bedroom units its got off street parking its gross rent the real estate agent is saying is 67 600 per annum its its reasonable its a yeah just a reasonable property that looks okay not looking amazing um i havent actually been to the property but yeah the inside looked like i

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

Do you need a new EICR on change of tenancy?

As a result, a change of tenancy should not invalidate an EICR. The NRLA has raised this with MHCLG and the appropriate trade bodies to ensure that as many electricians as possible are aware of this. However, to avoid issues it is best you speak to the person providing the report to make sure they are aware of this.

What happens if an EPC runs out during a tenancy?

Once your EPC has been issued, it is then valid for ten years. Once it runs out, you do not need to get a new one unless you are entering a new tenancy with new tenants or selling the property.

How often should carpets be replaced in a rented property?

A good quality carpet in rental property should last for about 10 years with normal wear and tear. When a carpet wears out and it has not been damaged by the tenant, the landlord is usually responsible for replacing it.

What has replaced Section 21?

The Government outlined in the Bill that Section 21 notices are to be replaced with a modern tenancy system. The current Section 8 notice would be more widely used when evicting tenants when the Section 21 notice is abolished. This enables landlords to regain possession of their property under certain circumstances.

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