19 reasons why you should choose Ray White to manage your investment property
1. Office Structure
Our services include:
- Residential Sales and Auctions
- Rentals and Property Management
- Rural and Lifestyle Sales
- Section Sales
- Investment Sales
- Commercial Sales and Leases
2. Effective Marketing
Our team at Ray White looks for the 'right' tenant. We have Marketing support and can expose your property to the widest possible number of prospective tenants by utilising:
- Local newspapers
- The internet - rwpalmerstonnorth.co.nz, trademe.co.nz, raywhite.co.nz
- Property signage (if requested)
- The position of our office in central Palmerston North promotes the amount of walk-in clients
3. Tenant Selection
We are focused on finding the best tenant in the quickest possible time.
At Ray White, it is our job to find the best possible tenant for your investment property by following these general guidelines:
- Stability in employment
- Satisfaction that the tenant is financially capable of paying the required rent.
- Verifying that the tenant will maintain your property to the standard required.
- We require a guarantor for prospective tenants under 20 years of age.
- A detailed screening process is applied to all prospective tenants and all references are carefully checked.
- Credit checks are carried out once references have been obtained.
- Meeting the prospective tenants at the property to conduct viewings - no keys are ever given out to the tenants to view.
4. Agreement Preparation
Once the tenant has been met with at the viewing and approved for the property, we will arrange the signing of Residential Tenancy Agreement.
All documentation is carefully checked for accuracy to ensure the owner's legal rights are protected.
5. Initial Inspection
Prior to tenant obtaining keys to the property, we will carry out a carefully detailed condition report with photographs.
This initial inspection report is referred to at the end of the tenancy to ensure that the property has only had minimal wear and tear.
6. Regular Inspections
We provide a free initial four to six week tenant inspection and then every three months following. Each time your property is inspected it is automatically diarised for the next inspection. Following a periodic inspection, we forward you a written report detailing the condition of the property and recommend routine maintenance or optional work such a repainting or carpeting.
7. Final Inspections
Immediately after the tenant has vacated the property, we will conduct a thorough inspection to determine the refund of the tenant's Rental Bond.
8. Prompt Rent Collection
Paying rent is hassle free for our tenants. They are supplied with an Automatic Payment form, which requires them to deposit their rent directly in to our trust bank account when their rent is due. This system gets the tenant into the habit of paying their rent automatically and tends to reduce rental arrears.
9. Strict Arrears Control
We print an arrears report daily, so that the tenants who fail to pay their rent on time, for whatever reason, are contacted on a constant basis. Those that do not respond are served with a warning letter, explaining that if they fail to pay or contact us to make arrangements to pay, they will be taken to the Tenancy Tribunal for eviction. This is usually sufficient incentive to get most tenants to pay their rent.
10. Repairs and Maintenance
We monitor repairs very closely. We act on repairs according to your instructions in the Management Authority. Should any repair of more urgent nature be reported, such as no hot water, we will attend to this as soon as possible, as it is an essential service. We maintain complete records of maintenance carried out to your property for future reference. Repairs carried out on your behalf are paid for from the rent monies held in Trust. Full details of the repairs are printed on your monthly rental statement with a copy of the relevant invoices attached for your reference.
11. Paying of Outgoings
From the rent collected on your behalf, we can arrange payments of the standard property outgoings as you instruct in the Management Agency Agreement. Such accounts could include Council Rates and Body Corporate fees.
12. Rental Reviews
We ensure you can enjoy full market rental for your property. We regularly assess the rental on your property taking into account factors such as current market rents of similar properties, the vacancy factor in the area, the general condition of the property, the quality of the tenant and the length of their vacancy. Where we see that a rent increase can be justified, we will advise you and seek your instructions.
13. Managing the Tenant
It is our duty as your Managing Agent to ensure that the tenants are will informed as to what is expected of them under the Tenancy Agreement. From the regular mowing of the lawns, to the payment of rent in advance, to the behavior of visitors to the property or the control of noise; we manage the tenant for you, ensuring, as much as possible, that the terms of the Tenancy Agreement are complied with.
14. Accounting to you
Each month we prepare and forward you a detailed monthly Rent Statement for your property. The Statement details the rent period, the rent collected and any disbursements made on your behalf. Your rent monies will be electronically deposited into a nominated account.
You do not have to wait until the end of the month to receive your rent if you so wish. We close our books off on the 15th of each month and bank or send you your rent within two days.
15. Disputes with Tenants
Disputes between landlords and tenants are not uncommon, but if handled with professionalism and diplomacy, most can be solved expediently. Most disputes arise over rent increases, repairs and rental bond matters. Initially, of course, the property manager acts as a negotiator in discussions between the landlord and tenant. If all avenues are exhausted, and the parties have not been able to agree, it may be necessary to apply for a Residential Tenancies Tribunal hearing. The Tribunal is an independent third party, which will hear the dispute and make a decision on the matter.
We, as your agent, represent you at the hearing, preparing the case from start to finish. Preparation may include obtaining quotes and taking photos of the property (in case of bond disputes) or researching rental market comparisons in the case of disputes against rental increases. The findings of the Residential Tenancies Tribunal are final, and may not always be to your satisfaction, so it is almost always beneficial to try and solve the problem in its early stages.
16. Yearly Financial Statements
We produce an Annual Financial Statement during the month of April, which gives a summary of income and expenditure for the financial year. This will save you time and money when dealing with your accountant.
Our office has a large team of active sales personnel who achieve excellent results and prices for our clients. We will provide you, if you require, a written annual market price opinion of your property at no cost or obligation to you.
18. Legal Requirements
It is our duty to ensure that all of the requirements of the various pieces of Government legislation relevant to the property investment are complied with. The Residential Tenancy Act and various other legislations must be strictly adhered to.
Our commitment to you is to look after your investment as if it were our own.