Owning and managing a rental property can be full of risks. Risks that leave you stressed and awake at night. So we’ve developed a few financial guarantees to remove some of the stress and get you sleeping soundly.
apm’s Financial Guarantees* #
We’ve created the following financial guarantees* for those who sign up to our Management Packages, to help reduce the financial risk you face as a landlord and to prove that having spent more than 30 years managing rental property, we know what we’re doing.
* Terms and Conditions. Contact us to see if you qualify!
Please note Our Financial Guarantees do not apply to Waiheke Island properties.
1. If your tenant won’t pay the rent – we will.
- The property will have full comprehensive building (house) insurance cover.
- The property will have been initially rented by apm and, from that date, managed by apm under its standard terms and conditions.
- The property will have four (4) weeks rent as bond lodged with the Ministry of Business, Innovation & Employment.
- The client agrees to enter into Landlord Insurance through apm by choosing one of the following:
a) RealNZ Landlord Insurance
b) Penberthy/Ando Insurance (including landlord cover). - apm will be able to conduct the rental arrears process using its normal arrears procedures without exception.
- apm will pay guarantees due to the landlord on the first day of each month (or the next business day).
- This guarantee relates to payment of rent losses and does not include any form of compensation for property damage or loss of property value.
2. If you’re still without a tenant after 28 days – we’ll pay the rent from day 29!
- The property will be clean, tidy and in a lettable condition (as determined by apm) prior to the commencement of marketing and the start of the guarantee period as below.
As a guide, the following will be part of the definition in determining that the property is not in a ‘lettable condition’ :
a) The property is on the market for sale; and/or
b) The property does not meet the minimum requirements of the Residential Tenancies Act or Healthy Homes Guarantee Act; and/or
c) There are external factors beyond the control of apm which will limit the appeal of the property such as location, suburb, neighbours, etc. - The property must be listed within the market price range as determined by apm through a formal rent appraisal.
- The guarantee expires if and when a client rejects an application for tenancy recommended by apm, or if an application for tenancy is accepted where the tenant is unable or unwilling to take occupation of the premises within the 28 days
- The 28 day period commences from the later of:
(a) The date that the landlord provides full access to the vacant property for letting purposes
(b) The commencement of online marketing, and
(c) The date that the property is clean and tidy and in a lettable condition as described above. - If not let by apm by the end of the 28 day period, apm will reimburse the landlord for lost rent from day 29 until the date a signed tenancy is achieved.
- If the property is still vacant after two (2) months, the owner agrees to review the service guarantee with apm and consider a new strategy to find a tenant.
- apm reserves the right to terminate the guarantee at any time without reason and on one (1) month’s notice.
3. Not happy – Don’t pay us.
If our service disappoints you simply tell us and we will refund your last month’s management fee.
- The owner must advise the General Manager – Residential Property Management at apm in writing detailing any issue/problem.
- apm then has 28 days to resolve the problem.
- apm will aim to resolve the problem within 14 days.
If apm does not resolve the problem within 28 days, your last month’s management fee will be refunded.
4. Switch to us – no cost, no stress.
- Once you give us written authority we will, if you wish, conduct the changeover process with your current agent without any involvement from you.
- We will manage all contact with your current agent, collect files and documents, and establish your account with apm at no cost.
