Making sure your investment property is properly managed and protected is paramount to you, the investor. Appreciation and profitability go hand in hand towards ensuring that your investment enhances wealth creation and provides security for this generation and the next.

It is important to compare and contrast the most desirable qualities of property management. This is where choosing a reliable and reputable property manager to manage your investment property pays dividends over the long term. 

The leading attributes of choosing the property manager

The number one attribute an experienced property manager will provide is to find the right tenant for your property.

Have zero tolerance for rent arrears

Daily rent checks

Professional advertising to best market your investment

Effective and professional property viewings for prospective tenants

Thorough and professional communication with all stakeholders

Constant updates and access to industry changes and landlord requirements.

Comprehensive understanding and knowledge of The Residential Tenancies Act 1986 (NZ)

Facilitation of mediation

In fact, a good property manager does far more than just rent your home and collect your money for you. They will facilitate mediation and attend Tenancy Tribunal hearings where necessary. Provide educated advice for tenant creating better quality outcomes. Organise property maintenance with preferred suppliers.

Time and money savers

The property manager helps provide a complete management service.  Management of regular routine inspections and follow up reports. Management and assistance with landlord insurance claims. Management of water rates where applicable. Payment and management of property specific invoices. Regular rent reviews. Lodging and transferring of bonds.

In addition, a property manager handles the tedium of paperwork, contracts and other necessary documentation required for renting out your investment property. 

All-important questions 

Find out if the agency of interest has a dedicated team of property managers. How many years of experience does the property manager offer?

In the event of mediation or potential court-based procedures, what is the agent’s success rate in legal situations?

How many properties does the agent manage? (i.e. are they too overburdened to give your property the one-on-one service it warrants?)

Will they be in attendance to highlight the property’s features during inspections? 

What is their weekly or daily availability for showing your property to potential tenants?

Perhaps, most importantly, what procedures are in place to assess a tenant’s financial security/background and previous rental history (i.e. reliability) as a tenant? 

The thoroughness, credibility and proven record of the answers to these questions should be an investor’s guiding light in choosing the right agent to manage your investment property.

Related reading: Property investment jargon explained

Thanks for reading.  Wishing you a successful day.
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