Investing in property is a fantastic way to earn income, but being a landlord comes with many responsibilities. You’ll need to ensure your tenants’ needs are taken care of, your property is well-kept, rent is paid on time and so on. All of this work can be quite a lot for one person, especially if you have other obligations you need to tend to. Don’t worry, help is available - a rental property management company can be the help you need to keep your property beautifully maintained and your tenants happy.
Let’s review a few of the top factors you should think about before you choose a trusted property management company.
As you look at your local Wellington property management options, make sure you consider the following before you make your final decision:
Your Unique Needs. Every landlord is different, so what works for your neighbour may not work for you. Take some time to think about your property's specific needs. Are there any unique features that require extra care? Have you noticed any particular maintenance concerns for your property?
Along with your property, make sure you think about your own needs as well. Would you like to be a hands-off landlord who lets your rental property management company do all the work? How often would you like updates regarding your property? Think about your ideal landlord-property manager working relationship, and identify what traits are most important to you.
Research Your Potential Companies. Once you’ve identified property management companies that could suit your needs, look at the following factors so that you can compare the pros and cons of each:
Local Vs. National Companies. Is the company you’re looking at a local company, or do they serve a wide New Zealand area? Many landlords choose local companies, as they’re more likely to understand the nuances of Wellington’s property market. Additionally, they can offer you more personalised and friendly services. Because they’re local, they’ll also have an easier time getting to your property faster if they’re needed.
Read Their Website. Explore their website to learn a bit more about them. Read through details such as their property management process. Different companies have different approaches, so it’s essential to get to know your prospective property management partners before you hire them.
Online Reviews. Don’t just look at what a company has to say about themselves; always look at what the community thinks about a prospective rental property management company. An easy way to do this is to search for them on Google and view their Google Business Profile. There, view their overall star rating and read through reviews. Reviews left by landlords can give you insights into what your experience with the company could be like. Additionally, reviews left by tenants can show you how your renters will be treated.
View Their Specialties. Not all NZ rental property management companies offer the exact same services. So, if you’re looking for specific help, you’ll need to make sure your potential property managers can offer you that help. Have a look at their specialties and associated fees.
Here are a few that could interest you:
Tenant Management. Working with tenants is an important part of owning a property, but it can be confusing, time-consuming and stressful. Check how your property managers dealwork with tenants, such as how they handle the tenant application process.
Property Maintenance. Property maintenance can include routine property inspections and handling maintenance requests from tenants.
Marketing Vacant Properties. If a property is empty, it’s generating no income, so you’ll want to find good tenants for empty properties as soon as possible. Look at how they handle marketing vacant properties, such as through advertising, taking professional photos for listings and so on.
Meet with Potential Companies. Before you make your final choice, always contact or meet with potential companies so you can evaluate them yourself. Pay attention to how they communicate and whether you feel they treat you with respect and care.
Consider creating a list of questions you’d like to ask them. This can include questions like ‘How do you handle rent collection?’, ‘How can I reach you if I need you?’ and ‘What sets you apart from your competitors?’
We created Comprendé to lift the standard of services that property owners, buyers, and tenants can expect.
Anita Smith, Senior Property Manager, Comprende'.
It's our job to support owners and tenants through these changes, so we’ve collated our thoughts on a few key topics below.
