A property manager can provide significant value to a landlord and property investor by handling various aspects of property management that can be time-consuming, complex, or challenging while ensuring the property is keeping value. Here are some key ways a property manager adds value to a landlord:

Tenant Screening and Selection

• Thorough Screening Process: Property Managers conduct comprehensive background checks on potential tenants, including credit and rental history. This helps secure reliable tenants reducing risks of issues like late payments, property damage, or the need of Tenancy Tribunal.
• Marketing the Property: A Property Manager uses their expertise and knowledge of the property’s area and location to ensure the property gets maximum exposure at market rent to reduce vacancy periods.

Maintenance and Repairs

• Maintenance: A Property Manager handles ongoing maintenance needs to ensure the property remains in good condition, protecting its value. Regular inspections in line with insurance requirements ensure a property’s condition is documented. Inspections note proactive maintenance /repairs to maintain the property’s condition, minimising long-term costs and wear. A video of the inspection can provide you a current update wherever you are in the world.
• Emergency Repairs: Property Managers handle emergency repairs, such as plumbing or electrical issues, efficiently as they often have established relationships with certified and compliant tradespeople.

Legal Compliance and Risk Management

• Knowledge of Legislation: Property Managers stay up-to-date with legislation regarding landlord and tenant rights, termination processes, rent reviews, and safety regulations. This ensures properties are compliant and managed in accordance with legislation, reducing legal risks for the landlord. The most recent changes to the Residential Tenancies Act in 2024 are currently in effect.
• Tenancy Agreements: Professional property managers use legally compliant Tenancy Agreements clearly outlining tenant and landlord obligations and property specific information.
• Tenancy Tribunal: If needed, a Property Manager will on behalf of a landlord handle Tenancy Tribunal attendances which can be a time-consuming and emotionally taxing task for a landlord. Our experience makes all the difference.
• Rent Collection and Arrears: Property Managers collect rent on behalf of the landlord and enforce payment schedules, ensuring cash flow remains steady. They also keep track of rent and water payments and follow strict procedures and encourage timely payments and catch-up payments by working with tenants.

Tenant Relations

• Relationship Management: Property Managers act as the point of contact for tenants, addressing any issues that may arise, often handling calls 24/7, and relieving the landlord from direct involvement in day-to-day tenant matters.
• Tenant Retention: By ensuring tenants are satisfied by addressing maintenance issues promptly, and fostering good communication, a Property Manager can help increase tenant retention rates, reducing turnover costs for landlords.

Vacancy and Turnover Management

• Reduced Vacancy Rates: Effective marketing, tenant screening, and prompt maintenance can help minimise vacancy periods. Property managers can also facilitate quicker turnarounds between tenants by handling cleaning and minor repairs efficiently.
• In-going/Out-going Inspections: A property manager conducts inspections before and after tenants move in or out, ensuring the property is in good condition and documenting damages to reduce potential disputes over the security deposit.

Time Savings

• Reduced Involvement for the Landlord: The landlord can enjoy peace of mind knowing that a professional is handling the day-to-day operations of the property, freeing up their time for other personal or professional pursuits.
• 24/7 Availability: Property managers often offer around-the-clock service for tenant issues or emergencies, ensuring prompt attention without requiring the landlord to be constantly available.

A rental property manager supports a landlord to maximise rental income, minimise risks, ensure legal compliance, and maintain tenant satisfaction, all while freeing up time for the landlord to focus on other matters.

Since 1991 our team of property experts have been navigating the complexities of the property landscape. For over 30 years, we have dedicated ourselves to preserving the value of the properties entrusted to us, and the value we provide in management of property. Contact our Residential Property Management team today to learn the real value our Property Managers provide landlords.