24 Aug 15
Finding the Right Property Manager to Protect Your Investment
If you've recently entered the exciting world of investment property ownership, you may be realising how much work your properties take to manage. Many investment property owners aren't that interested in the rental property management side of things, and you may be looking for a company to help you out. Before you choose a management company for your investments, make sure you have all the information you need to choose the best one.
What Should You Consider?
Before you decide on an Auckland property management service, there are some things you should check and consider to make sure your properties will be well maintained. Of course, this isn't a definitive list, but these factors can help you separate the cream of the crop:
- See if they are a member of the Real Estate Institute of New Zealand. This organisation ensures all its members provide the highest level of service and protection for property owners.
- Check to see if the company operates other properties in the same area so you know they will be able to easily manage your new investment.
- Make sure the Auckland property management organisation has effective systems in place to manage several rental properties. These systems include handling rent payments, performing inspections, handling maintenance requests and other normal management tasks.
- Ask if the property managers in Auckland perform ongoing and comprehensive maintenance and inspections. The last thing you want is an expensive surprise once the tenant moves out.
- Ensure the company's procedures work for you. Do they make payments as often as you need them? Do they need you to come in when you are unavailable? Are they willing to handle as much work as you need them to? If the property management company is unable to work on your schedule, it probably isn't a great fit.
- See how they make payments to you. If they aren't depositing your payments directly into a safe account, or if you have to go into the office every time your payment is ready, look for another Auckland property management service with more flexibility.
- Does the company provide detailed financial records? Are these available to you at any time? If the organisation cannot provide documents you need when you need them, then you should find a more compatible property manager in Auckland.
- Make sure they are up to date and knowledgeable in regards to the laws and legislation involved in tenancy. This will ensure you do not get any legal trouble if you have an issue with a tenant.
- Ask how the company vets prospective tenants. After all, if they allow people with bad rental histories into your property, you are likely to face expensive repairs once they move out.
Investing in rental properties is a great way to increase your income; however, many investors find themselves out of place when it comes to finding tenants and managing properties. If you are looking for an Auckland property management company to help you keep your properties full, contact us. Our experienced managers are ready to help you make the most of your investment.