What to Look for in an
Outstanding Property Manager
It probably comes as no surprise that finding the best property manager to manage your residential rental investments doesn’t just happen by chance. In fact, no one could argue against the reality that residential property investments are often hard-earned, highly-valued and a key component of primary or secondary income for most New Zealand investors. So, let’s open a top-quality property manager’s toolkit and take a good look inside.
SOLELY MANAGING PROPERTY 24/7
A company that is focussed exclusively on managing properties, has huge benefits for you. You can feel reassured your property manager has their eye on only one ball – the care of your property and its yield. By always having that linear focus on property management, resources can be devoted to your needs without distractions or interference from other quarters. It’s all under one roof with a team that’s pulling together towards one holistic customer-satisfaction goal.
Trust us to protect your property and maximise your investment.
From an initial property valuation to securing a tenant, we'll be there in person throughout the tenancy period.
NO HIDDEN COSTS
Are they investors themselves?
It’s hard to walk the talk if a property manager hasn’t a depth of experience with their own property investment portfolio, either in the past or currently. It’s not critical but certainly a property manager who personally appreciates the industry trends, understands the special challenges that come with owning residential rentals and is able to talk authoritatively about tax implications, real estate markets and any other financial issues has got the edge on one who doesn’t.
Effective reporting systems and cutting-edge technology
The capacity to monitor progress effectively and thoroughly depends on the systems and processes a company employs to keep everything running smoothly for your rental portfolio. If you need to check in and find out in real time where your property is at with inspections, income and tenancy cycles, then being able to login and see at a glance what’s what, is hugely advantageous. In 2019, a management system that informs you clearly, immediately and accurately on your portfolio is fundamental – don’t settle for anything less.
The Attraction Factor of Marketing and Advertising
We’ve all gasped at rental property ads displayed online with dreary photos of properties with descriptions to match. The maxim that you never get a second chance to make a first impression is applicable here. Professionally photographed, presented on several social media platforms (Instagram, Facebook, LinkedIn) as well as Trade Me and the dedicated company website – these are standard promotional strategies that your property warrants. Your property manager should exploit a range of advertising strategies promoting the property widely to a captive well-qualified market ensuring you attract the perfect tenant. You want to feel that your property management company is proud to be showcasing your precious investment. Promoting and advocating the property on your behalf with quality photos and text needs to be front and centre at the start of a new or renewed management.
Regular inspections build good tenant relationships
Inspections are expected by tenants, recommended by Tenancy Services and in the best case scenario, ought to be carried out by a delegated property inspector. This way he or she will build long-term relationships with the tenants, create an easily tracked history of the property’s condition, assess how the tenants are looking after their home, and importantly, anticipate any upcoming maintenance issues that may need to be addressed. Initial inspections at 4 weeks and three- monthly thereafter is the benchmark and this cycle should be a non-negotiable for effective property management.
Communication is Critical
Last but by no means least, prioritize the level of communication you desire to have with your property manager. For some this will be on an ad hoc basis when the need arises. For others, a regular call, email or meeting may be your preferred means of contact. Ensure that you are working with a company like Rentlink who customize your requirements to suit and don’t just treat you like a number. Building a trusted relationship is about feeling listened to, understood and feeling confident that promises are made and kept. A proactive property manager reaches out to landlords and tenants appropriately and perceptively to successfully negotiate the important work of managing residential property.
All of these things help to determine the essential skills and expertise a property manager should possess that will save you time, money and minimize stress levels.
"I focus on what I do best, managing property with passion and professionalism, linking people to property. So, if you want to enjoy the Rentlink experience with all these benefits and more then give me a call for a confidential chat."
Rosemary Van der Velden
Rentlink Property Management 022 657 9530
Written by: Admin on 14/06/2019
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