The important role of the Property Manager.
An article published recently highlighted to me and the team at Auckland Property Management the important work we do in providing professional residential property management services. A DIY Auckland rental property landlord unfortunately found themselves in a situation where their property was illegally sublet by the tenant to four other families. The landlord didn’t conduct any property inspections throughout the tenancy, nor were they aware of the need to do credit, employer, or police checks on the tenant.
The $2.2 million dollar property is now full of rubbish and the landlord possibly faces months of legal proceedings.
Investing in property can be full of risks, but that is where engaging a professional property manager comes in. It is our job to remove or reduce the risks landlords may face in the ever changing property landscape – from being aware of updated legislation and market conditions, to carefully selecting tenants and ensuring required maintenance is done. The damaged property and lost income faced by the Auckland landlord could have been prevented had they engaged the services or advice of a property management company, especially since they were unfamiliar with best practice property management.
About 35% of New Zealanders live in rental housing, and 46% of those live in Auckland. With people renting for longer it’s more important than ever to protect the property long term. It’s disheartening to see articles where landlords are put off from investing in, purchasing, and renting properties.
There are a lot of well organised great landlords out there – we should know! But unfortunately the regular upgrading and changes in legislation, inexperience, and bad experiences often lead owners who manage their own properties themselves to make the unnecessary decision to sell. It doesn’t have to be that way and engaging professional property management services is the first step in protecting their investment and reducing the risks for rental properties (tenant arrears, damaged property, legislation compliance, fines etc) that we often read about in the media or see on TV.
Auckland Property Management is needing more properties as the number of tenants needing rental accommodation increases. If you, or anyone you know needs a professional property manager – whether it be in Residential, Commercial, or Body Corporate, then get in touch with one or our team and we can talk you through how we can reduce your risks.