Hiring the right property manager can increase your investments profitability.
Property managers are invaluable, as they provide full service and hands-on management of a rental property for landlords and property owners. They act on behalf of the landlord and property owner, to ensure the property is maintained and resolve issues with the tenants. When you want things done and taken care of – a property manager is the one for the job.
What do Property Managers Do?
Depending on the size of the property, the day-to-day responsibilities of a property manager can vary widely, but if you look closely there are many tasks that are pretty common across property types. Whether it’s a seaside mansion, a duplex, an apartment or a split-level home, property managers ensure that your investment is raking in its share of passive income on schedule.
Some common property management responsibilities, and what a property manager can do for you are included below:
Rent issues will always take the top spot.
Property managers are directly responsible for dealing with tenants and their individual rent issues. The property manager is the face of the rental agency to the tenant and will be the point of contact they are familiar with and rely on to get their tenancy issues sorted. The property manager makes it a point to resolve tenant complaints and enforce the rules of the tenancy agreement, so you as a landlord don’t have to.
RentalsCo is proud to employ some of the best property managers within Whangarei. They understand that having the best staff enables the best outcomes for the tenant and the landlord. It is why their staff are treated as family and why they invest in continuous training.
Setting rental rates takes market comparison and desk-based research. It also requires living and breathing the rental market, understanding not only what has been but what is happening within the wider Whangarei market and the economy as a whole. It helps that property managers have specific local knowledge and an industry level of understanding.
RentalsCo is in an enviable position within the rental market in Whangarei. Being solely focused on rentals, and not an ‘add on’ to their real estate arm like others, they have a greater depth of understanding of the market. Coupled with being one of the largest independent real estate agents with over 300 properties, they know upcoming changes and how this will impact on rental rates and yields.
Landlords will no doubt agree that collecting rent is the most important responsibility of a property manager. A property manager and property/rental agency implement the system for an organised rent collection – they know who has paid on time and who has incurred penalties. All timely payments are then forwarded into the landlord’s bank accounts.
You can count on them as a firm but fair hand, reminding tenants of the date for rent collection, association dues and late penalties.
RentalsCo is proud to work with RealIQ to ensure their advice and guidance follows best practice in the industry. Their focus on fairness to both tenants and landlords results in strong rent collection, which speak for themselves.
Finding the Right Tenants
To fill in any rental vacancies, the property manager will undertake advertising and online marketing followed by meeting potential tenants and showing the rental property. At all stages a focus on property safety is followed along with a careful eye on how prospective tenants respond whilst they view the property.
Screening Tenants and Background Checks
Property managers will screen tenants for identity checks, proof of employment, credit checks and references.
The goal of the screening process is to save from any future headaches and financial burden. A thorough screening can give you an idea of the kind of tenant that wants to live in your rental. That said, the property manager must filter out the responsible ones from the negligent and troublesome tenants. Those with a notable history of outstanding rent, incidents of damage to property and tenant abandonment.
As RentalsCo have a comprehensive portfolio of properties they manage, this places them in an enviable position of being able to ensure troublesome tenants don’t merely cycle through their properties. RentalsCo takes a firm line on ensuring only the best tenants are offered properties.
Maintenance and Repairs
Routine maintenance and repairs are part of a property manager’s responsibilities. This is to ensure the rental property is well-maintained and habitable. And part of this is being attentive to the needs and requests of tenants.
Property managers generally have a wide network of trusted and experienced contractors to outsource the maintenance work to, at a fair price. To keep costs down, they make sure maintenance issues don’t get out of hand. So a small leak today might be a busted pipe tomorrow, but with an efficient property manager, they’ll make sure even small repairs are tended to.
RentalsCo utilises a wide network of trusts and insured tradespersons who will undertake work offering guarantees as necessary. RentalsCo ensures work undertaken is done right first time, and through the ‘buying power’ of services can ensure this is followed by all tradespersons.
Rental properties in Whangarei are very popular, they make profitable investments, and finding the right property manager for the job can be daunting, but you can rely on RentalsCo.
With RentalsCo at the helm, you are assured that your rental property in Whangarei will be professionally managed by one of our talented property managers from the start of the tenancy agreement. Rely on us for dedicated management and support of your Northland rentals.
Got a rental property in need of a property manager? Get in touch with us at RentalsCo 09 459 7139 or email us at firstname.lastname@example.org and we’ll get back to you as soon as possible. We are committed to giving you the best property management experience in Whangarei.