Property Investment

5 min read13 Oct 2025

The first 12 months after settlement: What does that look like?

Learn what to expect in your first year as a property investor and how to set yourself up for success.

Image picker 226 E54 E0 12 A5 4 D51 81 D0 1 AEC882 FA504 22707 00000230326 A005 C

Author: Tina List

Client Relationship Manager and Team Lead at Opes Partners.

Reviewed by: Laine Moger

Journalist and Property Educator, holds a Bachelor of Communication (Honours) from Massey University.

Copied

You’ve made it – you finally own an investment property. But once the excitement of settlement day wears off, you might be left thinking: Now what?

It’s a fair question. In the lead up to owning a property ... your focus is on paying for it, but there are still things to do in the first year after you get the keys.

Over these first 12 months, you’ll learn:

how the rent gets paid
how the costs are managed and
what your property manager does behind the scenes.

In this article, you’ll learn what to expect in your first year as a property owner - and how to set yourself up for success.

Month #1: Get a tenant

The first two months of owning an investment property will be your busiest.

It can take a few weeks to advertise your property, find a tenant, and then wait for them to move in.

You can typically expect 4-6 weeks of vacancy. That’s when you don’t have a tenant paying you rent at the start.

To bridge the gap before rent starts coming in you might like to set up a Landlord Lifeline. That’s a $10,000 revolving credit facility per property.

That gives you a financial buffer to pay any costs while you don’t have a tenant. You can ask your mortgage broker about setting this up.

More from Opes:

Month #2: Rent starts coming in

Many first-time investors are surprised by how rent payments work.

If you use a property manager you don’t get paid every two weeks ... you get paid twice a month: on the 1st and 16th.

That often means you get paid two weeks’ rent, but not always. Some months you’ll get three weeks rent at once, depending how the dates line up.

You also need to know that things change if the 1st and 16th are on a weekend or public holiday.

Let’s say the 1st falls on a Saturday: in that case you will get paid on the next business day.

That might be Monday the 3rd.

That’s why it’s often not a good idea to set your mortgage repayment date on the 2nd of the month, because the rent may not have landed.

Given the choice, many investors will set their monthly mortgage repayment for a few days after.

That way if rent payments are delayed by a weekend or public holiday, you’ll avoid the stress of not having the rent.

Personally, I often delay my first mortgage payment as long as the bank will let me (often up to 30 days). This gives my property manager time to find a tenant before I make a payment.

Month #3: Become a pro at managing your bank accounts

By Month 3 you should be aware of your property investment top-up.

Remember, your property’s rent may not cover all the costs of owning that property. So you need to top up the cashflow with your own money.

It’s around this time you should set up a dedicated account for your investment property. This is where:

the rent from your tenants is deposited
your regular top-up contributions go
and the property expenses are paid from.

This account might have a revolving credit facility if you have the Landlord Lifeline set up.

You can calculate your top-up using Opes+. Then you should automatically transfer your top-up from your own account to your rental account.

One of the most common pieces of advice I give to investors around top-ups is: Start putting money into this account for your property while it’s still under construction.

This achieves two things:

It builds a buffer before the property settles, so you’ve got funds ready to cover any early costs or vacancies.
It gets you into the habit of regularly contributing towards your investment property, even before it starts earning rent.

Month #4: Watch out for your first property management inspection report

Watch out for your first property management inspection report around Month 4, although it depends on when your tenants moved in.

Your property manager should conduct an inspection every three months. That means they’ll visit the property, take photos, and provide a written report.

This record is important. If your tenant damages the property you can prove when it happened. It also keeps your insurance valid.

Month #5: Pay the bills

Brace yourself: owning a property is expensive. You’ll need to manage the bills throughout the year.

And by Month 5 you’ll have seen some of the bigger costs start to roll in:

Residents’ association levies (often $2,000–$4,000 per year)
Council rates: the first bill often arrives within a few months of settlement
Insurance renewal: typically on the one-year anniversary of your policy.

Some of these costs (like the residents’ association) are paid up front, so you often need to pay them when you first settle the property.

In other words these bills come throughout the year, not just in Month 5. But by Month 5 you’ll know how to handle them.

These bills can come as a surprise if you’re not careful, especially when you’ve just finished paying for the property at settlement.

So make sure you have a game plan in place. Some investors smooth cashflow by setting up monthly or fortnightly payments on their rates, rather than lump sums.

Months #6 to #9 – Spot any defects and inspections

Before settlement you’ll complete a pre-settlement inspection, and often you’ll hire a building inspector to do this for you.

This is your chance to flag anything you want the developer to fix before handover.

But not every issue shows up right away. Sometimes it takes a tenant moving in to discover a funny noise in the pipes or a slow leak in the bathroom.

If something’s not quite right (i.e. cracked tiles, leaky taps) let your property manager know. And one of you needs to let the developer know.

That’s because every New Build comes with a 12-month defect period. That means developers need to fix defects reported to them within 12 months of you paying for the property.

Month #12 – Annual reviews

By the one-year mark you’ll hear from your financial adviser about an annual wealth plan review.

They’ll check in, review your wealth plan, and make sure you're still on track. You might decide to hold steady or, if things are going well, look to purchase another investment property.

Either way, the plan gets refreshed and you’ll have support from someone who understands your long-term goals.

Here’s the mistake I see investors make (time and time again)

Investing in property will not be as smooth as this article makes it sound.

You won’t just notice defects in Months 6-9. Your bills won’t only appear in Month 5, but these are the months you should start to master the skills of being a property investor.

Because buying an investment property is one thing … you still need to manage it. That doesn’t mean you need to spend hours looking after the property. Most of these tasks can be done in only 3-5 hours a year.

Tina List

Client Relationship Manager and Team Lead at Opes Partners.

Tina List is a Client Relationship Manager with a Financial Adviser qualification. As a property investor herself in New Zealand, Tina brings firsthand experience to her clients. Originally from South Africa, she has a background in the Finance and Insurance industry.

Due Diligence

What happens at settlement for my property?

Settlement is the final step of buying a property. It’s the point where your off-the-plans build is able to be walked through and admired.

New Builds

3 Steps to handle long settlements for new builds

Investors often need to reapply for finance when it comes to settling on the property. What if I can’t get my finance reapproved?

Property Management

What should I look out for in a pre-settlement inspection for a new build?

Find out what happens at a pre-settlement inspection and you’ll get a list of what you should be looking out for.

Opes

What happens if I settle a property around Christmas?

Property Investment

7 steps to selling your rental property

Discover the 7 key steps to sell your investment smoothly — from choosing a real estate agent to handling tenants and avoiding costly mistakes. Learn how long it really takes, what risks to watch for, and how to get the best price for your property.

OM 3202 When does Opes Property management pay out landlords

Property Investment

When does Opes Property Management pay out landlords? (Exact payment dates revealed)

Find out exactly when Opes Property Management pays landlords, why payout dates shift, and how to plan your cash flow for the next 12 months.

What will my townhouse look like in the future 1

Property Investment

Will my townhouse look like a slum in 10 years?

Worried your new townhouse will look like a slum in 10 years? See real examples of how New Builds age and learn what makes some stay modern while others don’t.

OM 3009 property vs shares vs managed funds

Property Investment

How risky is property vs shares vs managed funds?

Learn how investment risk really works, what volatility means, and why mortgages magnify property risk. Compare the ups and downs of property, shares, and managed funds so you can invest with confidence.