apm Client Newsletter – June 2024
Posted by apm on June 13, 2024 Body Corporate, Commercial, Company News, News, Newsletter, Property Management
Welcome to the June 2024 Client Newsletter
Getting the best deal with your bank
Over the last 40 years my wife Jo and I have bought 16 houses and sold 13, and for most of that time our financing has been with just one bank. There was a time when we could just sign a sale and purchase agreement and then call our bank to say we had done a deal, that the documentation was on its way, and that we needed them to sort out a loan on the most favourable terms.
Banking is way more complicated now though and, just because you’ve had a long history with your bank, it doesn’t mean that they will automatically give you the best deal.
We learnt that lesson when we bought our shares in apm – a friend recommended a mortgage broker to us and, convinced that we already had the best deal available, we agreed to just see what the broker could do. The broker got offers from several banks and they were all better than what we had been offered directly. Our existing banker was then able to ‘go upstairs’ and get approval to match the best offer presented so we stayed with the same bank. It doesn’t seem to make sense, but the fact is that, faced with competition our bank was able to sharpen its offer to us and pay a commission to a broker.
We’re now sold on the benefit of using a mortgage broker so, whether you’re buying your first home or an investment property or business, or just refinancing, I recommend you consider using a broker. To find a good one in your area just go to www.mortgages.co.nz
Kind regards
Bill Highet
Managing Director
apm
Howard’s Next Chapter
Our founder, Howard Morley, has recently stepped back from his role as a director of the company and has sold his shares to a small group of new investors. Howard does however remain a much valued member of our team, still has a desk in our office and, following a short break, will be back at work helping, advising and mentoring all of us. He may take some well-deserved time off to go fishing and travelling the world but, in between times, it’ll be business as usual.
If you haven’t seen it already, click here to read the news item about Howard that we posted on our website.
Rental Management for a Tenant Market
It’s no secret the sales market has experienced a downturn in recent times, and as usual this trend also trickles down to the property management sector. With fewer prospective buyers in the market, there’s been a noticeable shift towards a tenant driven market, and in some areas we are in a ‘tenant market’ which we haven’t seen for some time.
Celia Burbery, Residential Property General Manager, discusses what a tenant market means and what things can be done to help attract or keep tenants.
Tips from Flood Affected Properties
Auckland Council visited over 1300 flood affected properties with an aim to understand how residents can be better prepared for bad weather events and spot flood or water damage hazards. Common themes emerged including a lack of general maintenance, spouting not connected to drainage systems, overflow paths blocked from debris, and blocked catchpits.
During property inspections our property managers will keep an eye on any flood hazards and advise owners accordingly where maintenance is needed.
You can learn more about this from the Auckland Council website here.
Long Term Maintenance Guidance
Final changes in the Unit Titles (Strengthening Body Corporate Governance and Other Matters) Amendment Act 2022 came into effect on the 9 May 2024. One of the updated regulations aims to ensure there is an adequate Long-Term Maintenance Plan (LTMP) regime.
In a recent article, BC General Manager Steven Garland discusses the changes to LTMPs, what can happen if the changes are not met, and funding around LTMPs due to the recent legislation updates.
Commercial Property Team Update
We are excited about the growth of our Commercial Property Management business and there have been a few updates to our team and structure in recent weeks. Meet our new Head of Commercial and learn about our plan for a south Auckland office.
[email protected]
+64 09 638 2551
Welcome to our new Waiheke Escapes Holiday Homes
We are pleased to showcase our recent holiday homes that have joined our holiday division Waiheke Escapes. Check them out on our website and book direct to save on third party fees!
Winter Specials Available
If you are after a winter escape then take advantage of our winter specials available at participating properties. Specials include pay for 2 nights, get the third night free, tradies weekday deal, and early check in/late checkout options.
Email direct to book on [email protected], visit the website to view participating properties.
apm News
Meet our new team members
7 Questions With…
Marc Kobrin, Commercial Property Manager
Q 1. How long have you been working in the property management industry?
16 and a half years.
Q 2. What drew you to commercial property management as a career?
That no two days are alike or mundane. There are a varying number of fields that we need to know including, finance, accounting, Customer Relationship Management software, health and safety, property law and many others. A jack of all trades and hopefully a master of some!
Q 3. What advice would you give commercial landlords to get the best out of their property?
To keep the property maintained well and treat your tenants well too. That will help you increase the asset’s value. Losing a tenant will often cost you more than the maintenance required.
Q 4. Where has been a favourite place of yours to travel and why?
In 2017 I went to the east coast of the USA on a month-long road trip. The trip was lovely as I watched the ice hockey team I’ve supported for 30 years play, and also spent 10 days in Manhattan which was an experience in itself. I also love traveling to the coast, the beach and ocean.
Q 5. What do you like to do outside of work?
I enjoy keeping fit, so I do a bit of CrossFit, go mountain biking, play roller/ice hockey, and then enjoy downtime such as engaging with people around the BBQ (when its warm!) and watching Netflix, or reading.
Q 6. How would you describe yourself in three words?
Passionate, resilient, professional, and kind (4 words!).
Q 7. Are you watching or reading anything interesting at the moment?
Watching: The NHL playoffs! (National Hockey League in America) – the final began on Saturday.
Reading: 206 Bones by Kathy Reichs.
Listening to: A variety of Thirty Seconds to Mars albums prior to their Auckland concert in September, and X Ambassadors on Apple music.