Anyone who owns an investment property will understand that managing a rental can be hard work. There's a lot required of you to ensure that the property is up to scratch and the tenants are fulfilling their end of the deal.
A property manager can take a lot of the stress out of this process by looking after your house, the tenants and everything in between. If you're thinking about having a property manager handle your rental, here's what you should look for.
It's essential that you find a property manager who knows the local market. Someone who has their finger on the pulse of what tenants in the area are looking for. It's also important to have someone local who is close by for easy property inspections and will also be on hand for emergency situations that may crop up.
While most tenancies are based around a standard arrangement, it's important to have a property manager who is able to accommodate any particular requirements you would like laid out in the tenancy agreement. Since this person will be managing some of your income, you'll also want to make sure they have sound accounting practises and that the financial side of their services are efficient and transparent.
Before you hire a property manager you'll want to ensure that they know what they are doing. You should find out how many other properties they manage, how long they have been in the business, and how well they know your area. You should also find out how they operate: How often do they undertake inspections? How often do they report to you? Finally, it's essential to know how they would deal with tenants who don't pay on time or look after the property as per the agreement.
It's worth doing some research. Independent property managers in New Zealand are not subject to any particular regulations, and as such the services offer can vary widely. By having a property manager that is part of a licensed real estate agency like Ray White Takapuna, you'll be saving yourself some stress because their services are regulated under the Real Estate Agents Act.
For more information about Ray White Takapuna's property management services, or to view potential investment properties on the market on the North Shore, contact our team today.