Ask almost anyone what they think a Property Manager does, and you'll get a variation 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 not until 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.
Simply, it takes away all the hassle, stress and hand-wringing tension of managing tenancies, and frees you up to do the things you enjoy and the things that pay you more per hour than a property manager costs per week. It also allows you to neatly sidestep the need to know all the ins and outs of the tortuous legislation covering residential tenancies.
If you're still unsure about this, 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 – supply financial statements monthly, End of Year statements, money in/out transactions, arrange payments, comprehensive records, chase up suppliers, ensure no-one is overcharging
Building Inspector – inspections and compliance of buildings
Financial Consultant – advice on ownership structures, accounting procedures, investment advice, best way to optimise tax reduction, IRD issues, outline the advantages of Family Trusts
Mediator – many opportunities to tackle issues between tenants, owners, tradespeople, Council, etc
Project Manager – run building projects, oversee appliance installations, follow up on Council matters, 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 – often asked about what insurance cover may be best, also handle insurance claims and deal direct with insurance agents
Trades Professional – asked to do the work of Plumber, Builder, Glazier, Electrician, etc
Psychologist – cope with the imbalances of tenants, and sometimes the unpredictable actions of owners and trades suppliers
Marriage Guidance Counsellor – have witnessed a client’s marriage crumble in front of me
Police Officer – had to deal with assault issues, been threatened, acted as a witness, dealt with property damage, theft and drugs issues
Cleaner – have hosed shit off an owner’s property, cleaned out some properties after they’ve been trashed, disposed of all manner of items to the tip
Marketing Consultant – create copywriting and property descriptions which have stretched reality on behalf of some owners, and make a silk purse out of a sow’s ear many times
Transport Manager / Delivery Driver – pick up / collect tenants and owners from airport, giving a lift to all kinds of people, collect appliances and furniture and drop it off, shift appliances around
Interior Decorator – colour suggestions for painting, carpet, curtains, blinds, screens, even to suggest whole colour scheme that’s most appealing to tenants!
Property Market Commentator – ALWAYS asked what’s happening in the rental market
Debt Collection Agency – always 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
So, perhaps now you're looking at your rental property and the tenants that live there in a different light? If you need a property manager that can take care of all this for you (and more!) then call us.