What type of landlord are you?

According to the Merriam-Webster dictionary, the definition of a Landlord is - “the owner of property (as land, houses, or apartments) that is leased or rented to another”.

Maybe you haven’t purchased the property to rent out just yet, or maybe you do, but you don’t know where to start. It’s always good to do some research, especially when you have that motivation to be a kiwi landlord.

It really depends on you.

Find out which type or combination type you are:

Property Investor
These landlords have built their property investment portfolio from one or two houses to five or more.
They have their own property empire by buying, developing and renting out each property. They know what they are doing and have expectations and goals for each time they invest in a property, which tends to revolve around numbers – yield, potential gain, low maintenance and tenants that pay on time.

Thinking Ahead
Landlords who think ahead have their future home in mind, however, they much rather rent it out for a while due to different circumstances – it could be that they wish to pay off a bit more off their mortgage by renting it out, or they’re waiting for the right time, or constant relocating due to work or other commitments, just to name a few. And once they are ready, they will move into that home. Your bond will be lodged with the Department of building and housing within 23 days of us receipting your payment. You will receive a letter from the Department of Building and Housing in due course to confirm they are holding your bond in trust for your tenancy duration.

For My Child's Future
Buying a property to help your child with their first home, but while there’s still time before your child grow up and need that first home, the property could be used as a rental property and gain some capital with it. The property itself may or may not be used as your child’s first home – and depending on the housing market – could be sold with profit towards your child’s first home.

First Time Landlords
Completely new to the property investment scene. Being a first time landlord is a scary venture, from purchasing
that first investment property and not knowing what to do to keeping it well-maintained with tenants, but don’t fret, seeking advice and finding the right help is just around the corner, all you need is some research – preferably done before you make that first purchase.

Whether you manage the property yourself or using an agency to manage the property for you, every landlord is different. You don’t necessarily have to fit into one type either, you could be a first time landlord who has the same goal as a professional property investor.