Using a property manager is not for everyone but considering the bang for buck it’s a good option for most landlords!
In New Zealand only 30% of landlords use property management services where in Australia it is law to have your property managed. Currently the Property management sector has little or no regulations and any Tom, Dick and Harry can be a property manager. Would you trust a property manager without a trust account that just has the rental payments going in their own account?
In Auckland alone over $1,000,000 dollars worth of rent arrears is going through the Auckland court per month! The majority of these cases are private landlords who don’t have the time or knowledge to fight tenants that are not paying their rent!
The current total in the Auckland region being $98 million in unpaid rent! So next time a tenant does not pay….don‘t call the police call a property manager.
A property manager services including finding tenants, looking after the ongoing maintenance and of course managing the tenants rent payments.
If the tenant falls behind in their rent the property manager will do the following:
So save all this hassle its best to find the right tenant! This is another reason to use a property manager as they will do all the correct checks to make sure the potential tenant will be a good one!
Other helpful information:
Nick Powell - Property Manager Specialist - LJ Hooker