Property Management

The Property Management Process

Setting the Rent

We are here to assist you with setting the rent on your investment property to maximise your profits at the highest possible rate with the shortest possible vacancy time. With this in mind we take into consideration the current rental demand, similar properties available, desired tenants and current statistical data through The Ministry of Business, Innovation and Employment. During the time while your property is being marketed there may be a time that we need to adjust the rent to change with the market. We will always discuss this with you as well as any other options.

Marketing your property

We have in place proven marketing techniques that help us promote your property through the tenant selection process. This includes utilizing the internet (trademe, realestate.co.nz, raywhite.com, our wesbite), rental listing brochure, walk-ins and referrals, previous applications and Facebook.

Tenant Selection

This is arguably the most important part of the property management process. Our comprehensive tenant checks and experience ensure any risk associated with finding a tenant is reduced and we can find you a stable, respectful, financially sounds and long-term tenant.

Through this process we:

  • meet with all prospective tenants
  • ensure every applicant has filled in a detailed application form with all information filled in that we require
  • carry out credit checks, background checks and rental history reference check – our thorough check can include employment verification, previous/current landlord references, driver’s licence match and previous Ministry of Justice tribunal orders / Ministry of Justice criminal charges

The Tenancy Agreement and Bond Lodgement

Part of being a property manager is keeping up with changes to the Residential Tenancy Act and what we now must disclose in our tenancy agreements for example every tenancy agreement must now state levels of insulation in your property (we can assist you with to make sure all requirements are met). We adapt our agreements to each property and tenant to help further protect and maximise your investment in the long run.

We ensure the bond is collected (the act allows max four weeks), along with other move-in costs, before keys are picked up and the lodge with the Ministry of Business, Innovation and Employment within the required time.

Rent Collection and Arrears

Loss of income can cause stress on your finances and we also understand that your investment is your business. We have zero tolerance for arrears and do not tolerate late or missed payments.

We require all initial payments to be paid prior to the start of the tenancy with our suggestion of setting up an automatic payment for weekly payments. Rent payments are processed and reconciled daily. We can also work with the tenant to arrange with their employer for a re-direction of their rent to be paid straight from their wage.

In the event a tenant does miss a payment we immediately contact the tenant by phone or text and then a 14 day breach letter is issued. An application to the Tenancy Tribunal if payment is not received and this will enable a monetary court order against the tenant(s) and in come cases possession of the property will be requested.

Inspections

To help safeguard your investment we carry out move-in inspections, routine inspections and move-out inspections.

When a tenant moves into a property we go through and document with a written report and photos to document the property’s condition at the start of each tenancy so we know how the property is being looked after throughout a tenancy and it can also be used in case of any disputes. When a tenant vacates a property a detailed inspection is always completed prior to any bond being released in case of any damages or cleaning that may need to be rectified. We also will then inform our landlords if any maintenance or general repairs need to be done in-between tenancy.

Routine inspections are carried out generally every three months, and not less than four times per year. We advise our landlords to check their insurance policy wording and advise their property manager of the frequency required so not to void their policy.

Repairs and Maintenance

Providing on-going care and maintenance to a property is in the best interest of all landlords.

Repairs to your property come under two categories “urgent” under the Act and must be fixed in a timely matter and repairs that can be rolled out over a period of time in consultation with you. We can also arrange with you a pre-approval level where we can approve repairs and maintenance without needing a response from you turning over faster repairs and maintenance keep your tenant happy and wanting to stay in the property longer.

Ending of the Tenancy

When we have received notification that a tenant wishes to vacate the property we will confirm the details in writing with you to ensure we can take the next steps in tenanting your property as quickly as possible or discuss which next step you wish to take. We understand circumstances change and you may wish to move back into the property or sell.

We will market your property for a new tenant, take care of any necessary paperwork and carry out a final inspection. A final inspection will show any fair wear and tear that tenants are generally not liable for or and damage the tenants may be liable for. In the rare occurrence where the bond does not cover damage by the tenants, the debt will be lodged with the Tenancy Tribunal to re-coup the outstanding funds through a sealed District Court order and any associated debt collection work that may be required.