Understanding management fees and what you get for your buck in Palmerston North
When you’re about to spend your hand earned cash on property management fees it’s important for property owners to understand what they are getting for their money.
Investors that own residential rental investments can often find it difficult to find property managers they can trust, and if you are based in a region away from your investment, you will need to find a manager that has the experience in renting property so you can get the best return on investment.
The role of the property manager plays a pivotal role in the success of a rental property, and their advice and experience should never be underestimated when it comes to preserving a property’s capital value and maximising its income.
Landlords should be wary to make their decisions on property managers based on fees alone, there is much more to property management than collecting rent.
Great property managers have the following skill set:
- Skills and knowledge of the local area and a deep understanding of how to market your rental property effectively and expose it to the maximum number of potential tenants.
- Set the rent at an appropriate level to ensure the property leases quickly while at the same time ROI is maximised for the landlord
- Checks potential tenant’s applications and references ensuring they are trustworthy and have the appropriate background checks to avoid any issues
- Arranges a lease on your behalf to protect the property owner’s best interests
- Lodges any bond with the relevant authorities in New Zealand
- Arranges any repairs and maintenance as they need to be done with licenced trades
- Pays any council fees, insurance or invoices on your behalf to trades as requires
- Keeps up to date on all tenancy legislation and changes in the law
- Accept rental income on your behalf
- Provide regular statements and updates as required
It’s tremendously important to find a property manager who has the experience you need rather than the lowest property management fees.
When you are meeting property managers, focus on their level of professionalism and take the time to find out how they handle arrears, inspections and rent reviews. It’s also important to get an idea of their current rental roll to ensure you find a property manager that understands you local area and have the experience and understanding of the properties and tenants in your property’s exact location. In addition, it’s important to get a clear understanding of your potential property manager’s position in the local community to get an idea if the property manager is a good match for your needs.
The All Ways Property Management Services team have extensive experience across the Manawatu regions including Palmerston North, Feilding, Ashhurst, Aokautere and the Tararua region including Pahaitua and Woodville.
We’re a family owned and operated independent company dedicated to the management of all types of residential property listings located within the local area. We are dedicated to getting maximum rental returns for your home so you can enjoy the lifestyle & freedom you deserve. We aim to find the best tenants for your Manawatu property.
We are not real estate agents, however, specialise in casual letting and property management for landlords across New Zealand. We take the time to research what your property is worth and find the perfect tenants for your investment.
At All Ways Property Management we understand investors because we’re investors too!
