Getting Value out of Property Management Fees in Palmerston North
The question of managing your own investment property is a common one and if you have infinite amounts of time and patience you might be keen to manage your investment yourself.
However, it’s important to be aware of the many issues landlords face with tenants, inspections, maintenance, paperwork, advertising, health & safety and all the day-to-day requirements managing a rental property.
If you are based far away from the property, sometimes you have no choice but to engage a property manager and there are plenty of tips to be aware of to ensure you are getting value for money and also the best possible manager for the fees you pay.
Traditionally, management fees for property management companies are variable and can be anywhere from 7% up to 12% or more. The value of the management fee comes from the inclusions from the property management service, which is a flat base fee. If you are being stung on top of your management fee for routine inspections, pre and post inspections fees, end of year statement fees and administration fees you could wind up paying way more when you cost everything out.
A property manager is engaged to work for your investment on your behalf, ensuring your privacy is protected and all paperwork, leases, tenancy agreements, inspections, maintenance, repairs, advertising, rent collection and general support are managed professionally without needing the landlord to be too involved in the process.
Property managers are in place to save you time and resources and ensure you get the ROI you desire from your residential or commercial property. They are usually investors themselves and have a good understanding of how to manage your property in such a way to ensure you get the return you need for a successful property investment. Whil
e you might be paying a small percentage of your rental income to a property manager, their expertise, support, and guidance is invaluable.
A property manager is a neutral intermediary who juggles all the day to day tasks and ensures the tenancy is effective and properly managed. By managing the advertising of vacant properties, inspections, chasing rent, emailed reports, managing bonds, vetting tenants and facilitating the landlord and tenant relationships your property manager is worth their weight in gold.
All Ways Property Management agents charge a management fee of 9.5%, base rate fee, which provides property owners with the peace of mind that they’re receiving the highest quality service.
Unlike other property managers All Ways Property Management includes a wide range of services as standard flat rate fee including tenancy tribunal hearings or mediation on behalf of the owner, organising repairs and maintenance, quotes, routine inspections, pre-inspections with photos end of tenancy inspections, arranging end of year statements for tax purposes and all administration.
If you’re looking for a property management service is Palmerston North that is professional, independent, and tailored to ensure you get the best return on your real estate investment, speak with the team from All Ways Property Management today.
