Like picking someone to sell your home, choosing someone to manage it shouldn’t be underestimated. Most will offer a similar range of services, collecting rent, organising inspections, coordinating maintenance, and keeping your property compliant. But the difference isn’t in the services, it’s in how well those things are handled if problems arise.
A subpar property manager can leave you dealing with vacancies, tenant issues, and unexpected expenses. In contrast, a professional property manager, like the team here at Inspire Real Estate, offers hands-off property management that protects your rental income and peace of mind.
What should you look for in a property manager?
Great communication is one of the most important traits in any good property manager. If you find yourself playing cat and mouse before you’ve even signed up, that won’t improve once they’re managing your property. Look for someone who responds to you promptly, explains things clearly, and keeps you informed without overwhelming you with unnecessary detail.
It’s also worth asking about their tenant selection process. Strong tenants are the difference between a smooth tenancy and an ongoing headache. Find out what checks are carried out and how decisions are made.
You’ll also want to know that they carry out regular inspections too. Small maintenance issues are much easier to deal with when they’re identified early, rather than months later when they’ve become costly repairs.
And finally, make sure they have a strong understanding of Healthy Homes requirements and tenancy legislation. Any issues with the standard of the home will reflect on you as the landlord, not the property management company, so compliance isn’t something you can afford to overlook.
Questions to ask before choosing a property management company
When meeting with potential managers, ask these five questions.
1. How often will I receive updates?
2. How do you handle rent arrears?
3. What happens if a tenant causes damage or falls behind on rent?
4. How often are inspections carried out?
5. What fees are included, and what costs are additional?
Red flags to watch out for
When choosing an agency, there are a few red flags to look out for. As we’ve mentioned, communication is key, so be cautious if fees aren’t clearly explained, your questions are brushed aside, or you’re given different answers by different people.
Extremely low fees can also be worth questioning. Everyone wants value for money, but often, you get what you pay for. If there’s any risk of the management company cutting corners on tenant screening or inspections, that great sign-up fee can become far more expensive later.
How much do property managers charge in NZ?
Most property manager fees are based on a percentage of the weekly rent, with additional costs for letting or lease renewals. But remember, while fees matter, proactive management offers better long-term value than choosing the cheapest option.
The value of a nationwide property management company
If you own homes in different parts of New Zealand, working with a nationwide property management company means the same systems and service standards are applied across your portfolio, regardless of location.
There’s also something to be said for the reputation a company needs to be able to grow to a national level. And ultimately, choosing a property manager comes down to trust. Working with a nationwide management company gives you the confidence that your asset is being looked after by professionals who are held to high internal standards.
If you’re comparing your options, explore Inspire’s property management services, book a free rental appraisal or speak with our team.
