FAQs – For Owner
We don’t pride ourselves on being ‘just another’ property management company. We pride ourselves on providing the very best service in Auckland and ensure you achieve the maximum return on your investment property. This is our commitment to you when you deal with our team.
We run a comprehensive computerized management system which tracks landlord, properties, tenants, rents, inspections etc. The software we are using called ” Property Tree”(www.propertytree.com.au), and is regularly updated by our provider to ensure that it remains an effective system. It also generates owner ledger and statement, diary notes and tracks maintenance. In conjunction with this, internet banking is used to check rent payments and a direct credit system is used to for all payment to landlords and creditors. This enables us to effectively manage your properties with accuracy and efficiency.
Every year we recommend you should set aside at least 1% to 2% of the value of your property to spend on planned and upgrading maintenance. If you are not required to spend the full amount in one year, it should be put aside in an account for the following year. A maintenance fund will enable you to undertake maintenance every year so your property remains a desirable rental property for tenants and a well-maintained investment. This also means maintenance is undertaken when needed, rather than putting it off until you have the funds.
All rents and any other moneys received on behalf of owner are paid into the ASB Trust Account. This account is specifically for owners and does not form part of the operational bank account of our company. All payments made on behalf of the owner are also made from this account. Each owner’s transactions are individually identified within this account and the account is balanced and reconciled daily.
Tenants are required to pay their rent by automatic payment only in advance to the ASB Trust Account. All incoming payments from tenants are check daily (we have computerized system, which tells us whose rent is due on a specific day). On the first working day of every month, we will compile a full statement for property owners of the rents collected less all payments made on behalf of. The balance of the money is transferred to the owner’s nominated bank account on the same day, and we will emailed a copy of owner statement for your record.
We normally start a tenancy with a 6 months to 12 months fixed term contract. At the end of this term the contract will either end or will change to a periodic tenancy. During the early part of the year, if we are renting student accommodation, we will aim for 12-month contract to try eliminate the emptying of the property late in the year.
When required to find tenants, we may have someone suitable on our tenant’s database. Advertisement will be place on our Website,TradeMe and SkyKiwi/Korean Post. There is also optional advertising in NZ Herald and local paper at your cost.
If premises are vacant and there is no limitation body corporate rules apply, we will place a FOR RENT signage on the premises. Tenant qualifying is undertaken over the phone then arranging to meet at the property. Interested prospective tenants are required to complete a Tenancy Application Form, provide two forms of photo ID, previous landlord references and work references. We will perform credit check with VEDA / BAYCORP.
As for launching new developments, we will conduct weekdays after hours and weekends open homes for tenant viewings.
This depends on the market and the time of the year. In rental market, there are also peak seasons and non-peak seasons. The rental market is very competitive especially with the number of new apartments block available around city and city fringe area. The number of available properties has increased and the presentation of properties has vastly improved. We would allow 2 – 3 weeks to find a suitable tenant.
It is important to:
– Present your property in excellent condition.
– Price the property at the correct level (sometimes it is better to take $5 / $10 less a week and have little down time than ask top price but have the property empty for several weeks.) Alternatively, you can offer one week rent free as an incentive.
– Remember rent have not increased significantly over the years. The value of the property increasing does not automatically indicate that the rental price increases.
The normal type of tenancy in New Zealand is referred to as a periodic tenancy. In general terms a periodic tenancy requires that a tenant must give 21 days’ notice prior to vacating a property.
A fixed term tenancy is a contract with a fixed commencement date and a fixed end date. Notice to either party cannot be given.
It is important that you keep us informed of your long-term plans so that we can ensure that if you are returning to your home or wanting to sell it that the right sort of tenancy agreement is in place.
Yes, we do. This is call “Entry Inspection” and you will receive a report for each new tenancy.
We perform a routine inspection every 3 monthly to ensure the premises is in good order and conditions.
We will advise you with an inspection report with photos by email and waiting for your authorization to carry out the maintenance work require.
If you have extensive gardens and wish particular care taken of plants it is recommended that you organize for a gardener to maintain the gardens on a regular basis. Sometimes owners also pay for lawns to be done as well.
We operate 7 days a week. We are always just a phone call for viewings and emergencies. We are using advance technology to ensure that all messages and emails getting a response within 24 hours.
Yes, we do. Please contact us to get more information about casual let.
From 12 August 2020, rent increases are limited to once every 12 months. This is a change from once every 180 days (six months).
Any rent increase notices given to tenants from 12 August 2020 must comply with the new 12-month rule. If a notice was given before 12 August 2020, it is still within the 180-day rule.
You can place your property on the market whilst tenanted. If the tenant is under a fixed term contract, you must sell that tenancy with the property.
You must give 42 days notice in writing if you wish to take possession of the property. This can only be done if it is periodic tenancy.