Why get a professional to manage your property

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:

• Follow up with the tenant with a phone call and usually a text message. Another rent chasing method is using Facebook and posting or send the tenant a message.
• Following this a 14 day notice is issued - giving the tenant 14 days to pay the rent.
• If no luck with 14 day notice a application to the tenancy tribunal is  made.
• Tenancy Tribunal will set up a phone mediation which both parties can sort out the problem, it’s a good idea to add a consequential clause so if the tenant fail to pay back rent you can have them evicted.

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:

• Rent arrears information for landlords
• Property Manager helps you make more of your investment