Our main fees, aside from some one-off costs that can be incurred from time to time, are a management fee charged on rental income, a maintenance fee relating to the arrangement and co-ordination any of maintenance that we organise, and inspection fees (which are variable dependent on location and your preferred frequency of inspection.) Our fee structure is available on request, along with an information pack on our property management service.
We often see landlords intending to save money by self-managing their rental properties. While this is understandable, many landlords are unaware of the risks involved in residential property investment. The law around residential tenancies in New Zealand is strict, it is complex, and it is a potential minefield for investors. Fines of thousands of dollars can be levied against landlords that breach this Act – and ignorance of the law is no defence!
The mitigation of risk is one of the top reasons to use a property manager – the cost of engaging a property manager is a small price to pay considering the risks of laws that often favour tenants, the risk of poor tenant selection and so on.
Bearing this in mind, when engaging a property manager, it is very important not to select based on lowest cost, but on service – a property manager that provides professional and quality service is going to maximise your income, while minimising expenses and risk exposure.