There are many property management auckland companies in New Zealand, but not all of them are the same. It is very important to find a good property management company. If you own property, the right management company can make your life a dream, but the wrong one can make your life a living hell. This is not a place where you should try to save money. We have put together 7 tips to help you find the right property manager.
1. The first step is to find a property manager who knows a lot about the market in your area. This makes sure that your property manager will be able to find tenants because they will know what tenants are looking for in the area.
2. When they try to rent out your property, they’ll know what features to highlight to get it rented quickly. Property managers who know the area well can give the owner of the property good advice that they can trust and act on. This works out well for the property manager, the renters, and you as the owner.
3. It’s also important to find a property management company that can run the property well using specialised organisational software systems like Realbases’ Palace. When the company has a good property management system, you can be sure that all of the rents, inspections, repairs, and maintenance are properly recorded.
4. The financial management of your residential investment is an important part of your rental income, so you need to make sure that the company has well-trained staff in accounting principles so that the financial side of your property is handled with complete accuracy and integrity. Your rent money should be kept in a Commercial Trust Account, which is different from the company’s “business” money.
5. If you don’t live in the area, it’s hard to find a good property manager. The best way to find names of companies is to look at properties for rent in the area and see who is renting them. A good property manager, however, won’t have properties for rent for long, so if a property manager has a lot of properties for rent, it may mean that they have a high vacancy rate. Check out their websites because that’s where they do most of their selling.
6. If you can, meet the property manager in person or via Zoom. You want to know if the property manager has good customer service skills and a lot of time for you. If you feel like they are rushing you, they might be too busy to take on your property.
How many homes do they take care of? When there are too many clients, there isn’t enough time in the day to help everyone, so property managers stop being efficient and start taking shortcuts. A part-time property manager should be able to handle up to 50 properties, while a full-time property manager should be able to handle up to 100 properties.
Some property managers may be in charge of more than one property and have an assistant to help with paperwork, but they should still be the ones to rent out properties, make sure rent is paid on time, and do inspections.
7. Don’t be afraid to ask your potential property manager about their past management experience and for references from people whose properties they manage. This company will be in charge of all of your property investments, so you want to make sure they can do a good job.