Do I have to use your property management service if I buy an NZINVEST property?
No. Our property management division can manage our clients' investments on their behalf, if they choose to have us do so, for a fee of 8 per cent of the weekly rent. We run our property management service as a standard property management business. There is no obligation for clients to use this service if they do not wish to do so.
How do you manage the rental income from my investment property?
Rents are received by NZINVEST from tenants. Expenses are then paid out to trades people if required and the net balance of rental proceeds less any commissions (standard rate of 8.5 per cent) are paid out to the owner's preferred account on a monthly basis. Our fees are percentage based therefore until we receive the rent from a tenant neither party gets paid. So you can rest assured that it is in NZINVEST's best interests to chase any arrears by tenants or we won't get paid either! A monthly statement is provided to owners itemising all income and expenditure.
Will you seek my approval for maintenance work?
We only seek approval for maintenance expenses of over $300 per month. This allows us to keep your tenants happy, your property well-maintained and your investment as hassle-free as possible.
How and when would you notify me if my investment property was in arrears?
As per a standard property management business it would be normal to notify an owner if a tenant was more than a week or two overdue and NZINVEST had not been able to reach an agreement to a rectify the arrears. Clients can expect transparency in their dealings with NZINVEST Property Management. As soon as a tenant is in arrears our team carry out all necessary steps under the Residential Tenancies Act to recover the overdue amounts as soon as possible.
Why is regular cleaning so important for the maintenance of your property?
Mother Nature can give your investment property or home or investment property a beating. The exterior of your home is highly susceptible to mould, mildew, fungus, bugs nests, webs and other unwelcome guests. Keeping your house exterior clean not only makes your property look better, but it will help protect your home, identify any problems that might otherwise go unnoticed and create a healthier living environment for your tenants or for you, your family and your pets.
Does NZINVEST offer rent guarantees?
NZINVEST does not offer rent guarantees. We believe that a well-selected investment in a good growth area with competent property managers should not require a rent guarantee. Rent guarantees can hide bigger issues, like tenant arrears, from the owner. Typically the client ends up paying for a rent guarantee one way or another. Allocating these funds back into your own cash flow is generally better for the performance of your investment.