WE GUARANTEE PROPERTY OWNERS THEIR RENT
We are proud of the fact that we were the first and remain one of the few Property Management Companies in New Zealand offering landlords ‘GUARANTEED RENT.’ That means, that if during a tenancy that we have set-up there are rental arrears (for whatever reason) we will pay the rent for a specified period and re-let the property at no cost to the owner. No IF's, BUTS or MAYBES. You must be confident of your ability in order to do that! We are, and that’s why we can! We call that a guarantee, our property owners call it ‘peace of mind’.
Charges: You'll find that we aren't the most expensive and we probably aren't the cheapest. And yes, we charge for the expertise and service we provide. You wouldn't expect much in return if we did it for free? But unlike a lot of other Property Management companies we DO NOT charge any fees or added costs for arranging maintenance on behalf of landlords.
Some owners prefer to try managing their rental property themselves. There's a lot involved in doing that these days. The legislation is constantly changing with more and more onus being placed on landlords and substantial financial penalties for Landlords who don't comply with the rules and regulations. To those who chose to go it alone we say 'good luck' but if you want any help or advice along the way or maybe a rental appraisal to ensure that you are going to be seeking the best rent possible then we are happy to oblige, so give us a ring. Theres no need to be secretive, we understand how it works and will be only to happy to have a chat and give you the benefit of our expertise. Remember though your time is valuable so don't under estimate the time involved in looking after your rental yourself. It's very unlikely that the time and effort you personally put into managing your rental property will be tax deductible. With our help it almost certainly will be.
CONSULTATION AND RENTAL APPRAISAL OF YOUR PROPERTY
We offer a free (no obligation) consultation and rental analysis service. A rental analysis provides detailed information on comparable rentals in your area. We research homes currently on the market for rent, homes which have rented, homes withdrawn from the market and expired rental listings. Unique characteristics of a property, current economic conditions and other factors will be considered to help determine the appropriate rental price. The rental appraisal can be verbal or in the form of a written report - suitable for bank lending purposes. Because property management is all we do we can also offer expert advice on rental property improvements, aimed at increasing the return on your investment.
We qualify tenant applicants based on extensive background and financial checks (including previous rental history where applicable) and personal reference checks. We pay to use up to date credit software (not available to private landlords) to do every possible check on all tenant applications.
THE TENANCY AGREEMENT
Once the property manager and owner approve a tenant application, we meet with the tenant to review the tenancy agreement, explain our procedures and answer any questions the tenant may have. We refer to this as the tenancy induction. We confirm the tenancy information, rent amount (paid in full one week in advance), and initial term of the lease and bond payment. We explain our inspections policy and our requirements for ensuring that the property remains in a good state of repair during the period of the tenancy. We review our cleaning guide and any special conditions pertinent to individual properties.
A thorough inspection is completed prior to the tenant commencing occupancy. This process documents the condition of the property at the time of move-in and includes video recording of the property, a photographic record and written description. Prior to the tenancy commencing a methamphetamine screening test will be carried out to ensure that the property is not contaminated. A follow-up routine inspection is completed approximately one month after the tenancy commences (provided everything is going well we normally reward the tenant with a small gift at this time) and routine inspections occur every three months, for the duration of the tenancy. At the end of the tenancy, a leaving inspection will be completed before any bond is refunded. Any damage more than normal wear and tear will result in a deduction from the tenant's bond. If this is disputed by the tenant, the matter may then proceed to the Tenancy Tribunal. There is no cost to the Landlord as we undertake dealing with all tenancy issues at the end of a tenancy, including Tenancy Tribunal hearings. There is no charge for the comprehensive entry and exit inspections as this is covered by the administration fee, routine inspections are charged on a cost recovery basis of $49 + GST.
OWNER PAYMENT AND STATEMENTS
Property owners are paid mid-month and at the end of each calendar month. Payments are made based on all rents received, less our management fee and any invoices paid by Propertyscouts on behalf of owners. In addition to rental proceeds, you will receive a monthly statement itemizing rental income and any deductions or expenses. Along with your statement, you will receive a copy of invoices for any work completed on your property. Annually, you will receive a comprehensive financial year-end statement for tax purposes.
PROPERTY REPAIRS AND MAINTENANCE
Propertyscouts use reliable and experienced maintenance staff for every home repair you may experience. All tenant maintenance requests are fully reviewed by us before any work is authorised. Before authorising repairs expected to exceed $400 we will contact the owner for approval.
PROPERTY MANAGEMENT FEES
Property owners are not required to pay any funds up-front. An administration fee is retained from the first rent payment. The administration fee covers the cost of showing the property to potential tenants, credit checks and any other costs associated with signing up a tenant. The administration fee also covers any issues we have at the end of the tenancy, which in some cases (thankfully not often) may result in us having to apply and appear at the Tenancy Tribunal. Propertyscouts management fee varies depending on where in NZ your rental property is located. The reason for this is that we always aim to fall below the average management fee for the location. Sometimes we offer promotional packages to ensure that property vacancies are kept to the minimum. If a tenant wishes to re-sign at the conclusion of a fixed term tenancy, there is a tenancy agreement renewal fee of $105 + GST charged following the resigning.
INSURANCE FOR YOUR RENTAL PROPERTY
Our preferred insurance supplier is Real Landlord Insurance. They offer tailored comprehensive policies which can only be obtained by Landlords utilizing our Property Management services. You can access details of their insurance offerings on their website Real Landlord Insurance
Most New Zealand insurance companies now offer home insurance policies based on a 'sum insured'. This is the maximum amount your insurer will pay out should your house be badly damaged or destroyed. Previously, many insurers offered replacement value policies which meant they would pay to replace your house, no matter what the cost was. The new 'sum insured' approach means it's very important that you are confident the 'sum insured' amount stated on your policy is enough to cover a worst-case scenario. To calculate what your sum insured should be, you can use this calculator which is endorsed by New Zealand's largest insurance supplier - IAG.
MINIMISE YOUR RISK, MAXIMISE YOUR GAINS AND LEAVE THE STRESS TO OTHER PROPERTY INVESTORS.