Ray White - Managing Your Property
People choose to invest in property for a variety of reasons. Their goal being to build a retirement portfolio whilst they continue to work a full-time job.
Time is a valuable resource. With family commitments, jobs and carrers, many investors realise this and decide to appoint a property manager to deal with the challenges of owning an investment property, such as, managing both the property and tenants. Trust me, it is a challenging profession and requires specific knowledge and skills.
There are many things to consider when investing in property:
- Time Consuming - Quality property management demands time, it is a full-time job. The variety of tasks are very time consuming, inspections, viewings, marketing, paperwork, rent control, repairs and maintenance.
- Legal Consequences - No longer ‘making it up’ or ‘having a go’ will do. There are onerous requirements on landlords and severe financial consequences for not abiding by the law.
- Sound knowledge – The Residential Tenancies Act is vital for any property investor and ignorance is no defence in court. From the outset of the tenancy agreement till the end, documentation is key to success. Tenants are very educated on what landlords can and cannot do. Tenants will seek damages via financial compensation for any failure in meeting your responsibilities as a landlord.
Often landlords find out the hard way that this is not everyone’s cup of tea and suffer from the loss of income from rent arrears, ‘runners’ by tenants, long term undetected damage to name a few, before then turning to a professional.
Sadly the reality is that some tenants will often target private landlords as they lack the systems and services that ensure a higher level of accountability.
Finding the right property management firm is as key a decision as the initial tenant selection is.
A professional property management firm will display behaviour worthy of your trust with clear communication and will focus daily on maximising the returns from your hard earned asset whilst you focus on your own profession, family and lifestyle. For more information speak to one of Ray White Te Awamutu's experienced professional property managers.
Celia Burbery Property Management Business Development Executive Ray White NZ
What is Property Management?
A property management service takes away the stress of owning a rental/investment property. Our unique and flexible approach to tenant sourcing and our all-encompassing approach to property management and maintenance mean that you can have peace of mind knowing that your investment is well cared for. We believe that a good tenant for you means a good relationship for us.
We are experienced and well known in the local community.
What makes us unique?
At Ray White Property Management Services, we have a threefold approach to property management.
- We select your tenants carefully. Our uniquely tailored tenant sourcing system and our exhaustive screening process helps to eliminate most potential tenant problems, giving you peace of mind and helping you avoid the financial and emotional stresses of bad tenants.
- During the tenancy we maintain a strict watch on your investment. We have strict systems and processes; based on tenancy law, which ensure regular property inspections and early intervention should any problems arise.
- We reduce your financial risk. We offer the most comprehensive specific landlord insurance policy (REINZ) which protects you from a range of problems including unexpected rent stoppage and large scale malicious damage to your property.
What do we do?
At Ray White Property Management Services, we treat every property as if we own it ourselves. Unlike most property management companies, we have no hidden costs - everything we do is covered by one basic payment, allowing you the freedom to budget accurately.
What will Ray White Property Management Services do?
We will:
- list your rental property and advertise it in a wide range of media - Trade me, rwteawamutu.co.nz, raywhite.co.nz,raywhite.com, local paper
- show your property to pre-screened prospective tenants through private appointments
- prepare and file the Ingoing Property Condition Report
- photograph your property in detail
- prepare an inventory at the property
- prepare tenancy documentation
- sign up documentation and collect initial monies
- collect rents and any other monies owed by the tenants
- undertake tribunal representations on behalf of the landlord
- carry out regular maintenance inspections
- review rent levels regularly
- calculate the potential sales value of the property on request
- arrange repairs and maintenance
- pay property outgoings
- advise on specialist landlord insurance options
- prepare and lodge insurance claims when necessary
- conduct outgoing inspections
- process the tenant's rental bond
- account to the landlord with regular financial reports
- communicate with landlords and tenants on property related issues
- resolve tenant conflicts
- Pay rent out twice a month