Ask almost anyone what they think a Property Manager does, and you’ll get a variation on this response:
“Oh, you guys just collect the rent, keep an eye on the place and do little maintenance jobs – don’t you?”
Well,…no. There’s a little more to it than that, to be frank. It’s when you’re knee deep in documentation for your upcoming Tenancy Tribunal Court eviction case, or you’re looking at a gaping and lightly smoking hole in the living room floor and the countless smashed windows in your rental, that you start to grasp the value of having someone look after your rental property for you.
You’re Going To Need Some Help!
Simply, using a Property Management company should take away all the hassle, stress and hand-wringing tension of managing tenancies. Getting your rental professionally managed frees you up to do the things you enjoy. It also means you won’t need to learn all the ins and outs of the tortuous legislation covering residential tenancies.
Here’s What You Get
Not convinced? Here’s a list of professions (many of them VERY highly paid) that your Property Manager covers on your behalf:
- Lawyer – sometimes in court, submit applications to MBIE, comply with all kinds of legislation
- Accountant – provide financial statements, arrange payments, comprehensive records, follow up suppliers
- Building Inspector – inspections and compliance of buildings
- Financial Consultant – advice on ownership structures, accounting procedures, IRD issues
- Mediator – tackle issues between tenants, owners, tradespeople, Council, etc
- Project Manager – oversee building projects and appliance installations, co-ordinate trades people
- Advertising Copywriter – writing ads that sell properties online and in print
- Photographer – taking photos of properties to market them online and in print
- Insurance Consultant – handle insurance claims and deal direct with insurance agents
- Trades Professional – often asked to do the work of Plumber, Builder, Glazier, Electrician, etc
- Psychologist – deal with tricky tenants, and unpredictable owners and trades suppliers
- Marriage Guidance Counsellor – have witnessed a client’s marriage crumble in front of me
- Police Officer – deal with assault issues, been threatened, acted as a witness, property damage, theft and drugs issues
- Cleaner – have hosed shit off an owner’s property, cleaned out properties after they’ve been trashed
- Marketing Consultant – create advertising copy writing and property descriptions
- Delivery Driver – collect appliances and furniture and drop it off, shift appliances around
- Interior Decorator – colour suggestions for painting, carpet, curtains, blinds, screens
- Property Market Commentator – ALWAYS asked what’s happening in the rental market
- Debt Collection Agency – often having to hustle tenants to get the rent, liaison between courts
- Security Consultant – door and window locks, window stays, alarm systems, sensor lights
- Forensic Accountant – track invoices and receipts back over years of record archives
- Private Investigator – dig up all sorts of info on applicants, tenants, owners, trades people
Perhaps you’re now looking at your rental property and the tenants that live there in a different light? Get yourself a Property Manager that can take care of all this for you (and more!).