As a landlord in New Zealand, you are expected to keep information according to the regulations. The onus is on the landlord to be able to produce this when required.
The Burden of Evidence - essentially, what good record keeping comes down to is keeping good business records. As a landlord, you may need to provide information to various government departments, including MBIE/Tenancy Services and Inland Revenue.
If you are not keeping good records, then you are at risk of potential insurance claims being declined, fines being issued by MBIE/Tenancy Services, and tenancy problems, which could result in tenancy tribunal action from tenants against you. If you don't have the evidence, then you don't have a case.
You should have good systems in place so that you also store this information in accordance with the Privacy Act. At a minimum, you should have:
A current tenancy agreement.
Tenancy application forms and privacy consent forms
Bond records.
Rent records that are easy to follow from the beginning of the tenancy.
The initial inspection report and photographs.
Regular inspection reports
Evidence of maintenance and repairs
Communication to and from tenants
Healthy Homes Compliance records and evidence of compliance
insurance documentation
Health and safety information
As a property management business, we take compliance very seriously. As part of a national franchise, we have many policies and procedures in place so that we keep all the relevant information accordingly. We also undergo regular franchise audits to ensure that we are keeping these in order.
If you need help or advice in getting your systems in order, get in contact with me today.