They say making money takes work, but when it comes to asking for payment you have to work even harder.
Most property owners who have self managed their property, will have experienced this firsthand – some tenants have an offhand way of dismissing your request for the rent money. But as a landlord you have to make sure they take payment requests seriously.
An obvious first step is to quote snippets from the tenancy agreement about the agreed due date for the rent, and the penalties for late payments.
Also the tenant should do a bit of adulting on their part, and shouldn’t resort to giving you too many excuses on their delay in payment. This is a red flag though, a clear sign that this is a tenant to watch out for. With proposed changes to the Tenancy Reform Act, it is likely to get harder to get these laissez faire tenants out.
Collecting rent consistently can be challenging, and often the single biggest issue new landlords experience.
All is not lost however, RentalExperts.co.nz powered by RentalsCo are very good at rent collection, and we have made it our mission to collect rent on time – even if that means going to Winz and getting rent paid by the government to our landlords. We understand that your investment property is your income. Delays in rent impact on mortgage payments and your plans, which is why we go to great lengths to protect our Whangarei Landlords. There’s a reason we are the best Property Management company in Whangarei.
Why you need to hire a Whangarei Property Manager
When you’re the owner of an investment property, most people have this impression that you just sit back and relax, and collect your passive income monthly. It’s true that having income properties can be very rewarding financially. However, you will also discover that handling all of the income properties by yourself requires you to spend a lot of your time, energy and effort on rent collection, maintenance, tenant requests and day-to-day niggles.
You can be inundated with tasks such as collecting payments from all the rental units, taxes and bookkeeping, handing tenant turnovers, repair work and filing in insurance plans. Free weekends can often become a thing of the past.
Of course, managing all your income properties by yourself can save you money, but if you are also working full time, looking after family or managing a company then you might want to hire someone experienced to take the reins in managing your properties.
Here are some reasons why you need to hire a Whangarei property manager.
The usual way to discern the right rental rates for your property is to know how much other landlords in the area charge for their property.
A good property manager in Whangarei should know the rates for rental properties in Whangarei and the surrounding Northland neighborhoods. That way they can determine an accurate market-based rental income for your property. The goal is not to charge too high, but just right. A reasonable rate will ensure you’ll have a low vacancy rate throughout the year plus the added benefit of attracting ideal, long-term tenants.
Securing payments from your tenants can be very difficult and time-consuming. Things can even get pretty awkward when they refuse to return your calls or answer the door. You can save yourself from such headaches by hiring a property manager who can implement efficient strategies to collect rental payments on-time. If it comes to it, rental agencies should then undertake the tribunal process and ensure those tenants are out. RentalExperts.co.nz powered by Rentals.Co does exactly that. We don’t pass back the property when the going gets tough.
There are ways to make your property so that you attract the right tenants. Do you want to advertise on TradeMe blindly, or have a company utilise background checks, references and, even better, place existing good quality tenants who may be upsizing or downsizing into your property? RentalExperts.co.nz powered by Rentals.Co has one of the largest property portfolios in Whangarei (several hundred!), so we know the tenants within Whangarei. If we have had bad experiences with a tenant, then we won’t be putting them into yours or anyone else’s property we manage.
Let’s discuss your property management needs in Whangarei.
When you seek the service of RentalExperts.co.nz powered by RentalsCo, you can reap the benefits of having the best income properties in your area while creating a very good relationship between your tenants. Everything is expertly handled and organised – no more 2am phone calls from tenants. You can expect a reduction in late payments and a proactive approach to getting your income. Best of all, you don’t have to slough through the difficulties of being a landlord, all you need to do is to check your bank account for the cash flow.