Do you own a property on the North Shore, but don't live in New Zealand? Owning a rental home in New Zealand is attractive because of the potential capital gains, as well as the low vacancy rates in the major centres.
Auckland's overall vacancy rate is 5.2 per cent, as stated in a New Zealand Herald article from August 2016. On the North Shore, however, the vacancy rate is just 3 per cent. That's good news for any potential investors.
But did you know that by law, if you own a rental property in New Zealand and will be out of the country for more than 21 consecutive days, you must appoint an agent who can act on your behalf? This means that if the tenant has any issues they would normally bring up with you (the landlord), they will need to contact your agent about them (e.g. if your tenant needs to ask for repairs to be done).
When you live overseas, managing a rental property isn't always as easy as checking in on tenants every now and then and organising for the home to be professionally cleaned when people move out. With the help of local experts – people that work and live in the region your investment home sits – a weight will be lifted from your shoulders.
You own an investment property because you want to achieve something financially. It's not just about putting your money into something that's stable. Whether it's major capital gains over time, or a steady passive income from rental payments, a property manager can help you to reach your financial goals.
When tenants miss their rent payments, it can impact your passive income. For one thing, if you're using the rent to pay off a part of your mortgage, you'll rely on it month to month. When a payment doesn't come through, you may have to take money from your own savings account to make up the monthly home loan repayment, and that's not a sound way to build wealth.
A local property manager will be in close contact with people throughout their tenancies to ensure they're always in a position to pay rent. If they aren't, you won't have to deal with the repercussions, because your manager will handle everything.
What's more, you won't have to organise property inspections or repairs from overseas, because the local team at Ray White Takapuna will be on hand to help. Detailed reporting of any inspection and repairs can be sent to you, so you always know what's going on at your home.
Do you have years of experience working in the real estate industry? Do you know how best to handle tenants in every situation, and how to handle finances from your rental income? If you have one or 20 properties to manage, it's a major pain point to keep track of all that needs your attention. When you hand that responsibility over to someone else, however, you don't have to worry about anything.
With industry-best training and resources on hand to provide the best possible services, the team at Ray White Takapuna can make your property investment dreams a reality. A property manager can help to guide you through the property investment journey, as well as achieve your financial goals. That's the true value of property management services – particularly for investors who are currently living overseas and don't have regular access to their New Zealand homes.
Hand the reins over to the expert property management team at Ray White Takapuna for all of your investment home needs. Building wealth through real estate doesn't have to be a stressful experience.