Owning, managing and tenanting a rental property is a major commitment not only of financial investment but also of time. This is where we can help you by providing peace of mind by removing the hassle factor through our Property Management Services.
We work on your behalf to ensure that your rental property is managed to high professional standards. We have the experience and know how to manage your property to ensure it is efficiently maintained. We will provide quality tenants to protect your investment and ensure you the best possible return. An additional benefit is the cost of our property management service is fully tax deductible.
Our Property Management Services
Rental Appraisal
To help you decide the best course of action with your property, Premier Realty offers you a free market rental appraisal as part of our property management service. This will allow you to understand more clearly the return you can expect on your property investment.
Advertising and Marketing
We provide full advert with quality digital photographs on our website www.premier-realty.co.nz
We recommend advertising on two other websites www.realestate.co.nz and www.trademe.co.nz to give ultimate exposure for your property. This cost would be passed on to you at cost ($29 + GST and $149 respectively) – that means we don’t make a premium out of advertising your property. This is a cost you should budget for with each change of tenancy.
“For Rent” signage will be erected at your property.
Openhome and viewings by appointment would allow interested potential tenant a chance to view the property.
Tenant Selection
Premier Realty has a stringent selection process to ensure only the right candidate is selected for your property. Ideally, we only want good tenant who has the ability to pay on time every time and to quiet enjoyment of the property.
Prospective tenants are interviewed and fill in a Tenancy Application Form.
Tenants are then shortlisted and put through a credit, background and reference checking process with current and previous landlords and employers. This also includes credit checks via TINZ, CIA, Veda Advantage, Department of Internal Affairs and Ministry of Justice Tenancy Tribunal Orders. This is put in place to protect your investment. You will be provided with tenant applications and their circumstances to enable you to make an informed decision and give approval for the selected tenant to be offered the property.
The selected tenant will be required to pay a non-refundable deposit of one week’s rent and a letting fee equivalent to one week’s rent + GST to secure the property. A further Bond payment equivalent to four weeks’ rent is secured at least three days prior to possession date (if not sooner) it is sent and lodged with the Ministry of Business, Innovation and Employment to be held until the tenancy ends and the tenant moves out.
Our policy is that all money must be paid in full before handling the keys over to the tenants.
Rent Collection
All rent payments must be made by automatic payment into our trust account where we monitor on a daily basis.
Arrears Management
The management and tracking of arrears is an important part of property management. If left uncontrolled it can result in a financial disaster for all parties, particularly the owner.
We carefully check all tenants prior to placement to minimise arrears issues. However, problems do occur and for this reason arrears management is an area we carefully administer.
We have a zero tolerance policy to rent arrears with recovery proceedings beginning as soon as rent is one day late. We have strict procedures in place for dealing with rent arrears that include contacting the tenant via phone, email and texts, visits to the property if required, issuing 14 day notices and Tenancy Tribunal applications.
Tenants need to know that they can’t get away with late paying, and that we are on top of them so they don’t try it and fall behind. If they consistently fall in arrears, it is just a matter of time before they will be ex-tenants. Here we look to get repayment commitments, which we then formalise through a Tenancy Tribunal order.
If Tenancy Tribunal hearings are required we attend these on behalf of the owner. Our time and fees are discussed with you on a case by case basis if this is not covered in your management agreement. Any non-recoverable court costs are passed on to you.
Property Inspections
Premier Realty will complete a comprehensive ingoing condition report and take photographs to record the state of the interior and exterior of the property before the commencement of each tenancy. The tenant will be given an opportunity to comment on the report before signing. This eliminates any dispute about the property condition at the end of the tenancy.
We conduct a complementary inspection within four weeks of the new tenant moving in. This enables us to get a feel on how your tenants are looking after the property and address any issues before they get out of hand. Regular inspections are conducted at three monthly intervals thereafter and you are provided with a detailed report which will include any recommendations for preventative maintenance.
We undertake a final inspection at the end of each tenancy and then bond is refunded to the tenant or the landlord depending on the outcome of the final inspection.
Methamphetamine Testing
Every property we manage is required to obtain a Baseline test to determine whether meth is present in the property. Refer to The Property Inspection Team www.thepropertyinspectionteam.co.nz/prices baseline test for a 2-3 bedroom house is $185 + GST and $280 for a 4-5 bedroom house. This is a cost you should budget for with each change of tenancy.
Repairs and Maintenance
We report to you of any maintenance and/or repair requirements as we become of aware of them. You decide either we arrange the maintenance and repairs on your behalf or alternatively you can arrange your own tradesmen or complete the repairs yourself.
Setting Market Rent
At Premier Realty we regularly review rental levels for all properties we manage and, where appropriate, initiate a rental increase or advise owners if we think a reduction is necessary to ensure maximum occupancy rates are achieved.
Financial Management and Reporting
All rent received (less our monthly management fee) is transferred into your bank account via internet banking twice a month, on the 1st and 15th of each month (or the next working day should either date fall on a weekend or statutory holiday). All maintenance and other property related expenses are paid directly from the rent monies which will be detailed on your monthly statement. You will receive electronic monthly statements to keep track the performance of your rental property and can be provided to your accountant at the end of the financial year for your tax returns quickly and efficiently. Plus our management fees are 100% tax deductible.
Communication
We maintain close contact with all our clients and communicate with you directly should any issues arises relating to the management of your property.
We also keep in touch with tenants through regular inspections and deal with them promptly, consistently and fairly. By establishing good relationships with the tenants, we aim to minimise potential disputes, arrears or other problems. However when things go wrong, we act quickly and professionally to remedy the situation.