A Step In The Right Direction – Homely Ahead Of The Game

Would you leave someone responsible for millions of dollars worth of assests with zero experience and zero qualifications? Welcome to the world of New Zealand property management…. but hopefully not for long!

The residential property managers bills is now open to submissions and we couldn’t be happier. So if you have a spare few minutes, have your say here: https://www.parliament.nz/en/ECommitteeSubmission/53SCSS_SCF_D87A5C1C-3996-4894-281A-08DB9F707DF9/CreateSubmission

At Homely we believe Property Management should be seen as a career choice and not just a job.

This bill will help move the industry into a new regulated era that will enhance the protection for both landlords and tenants and put those millions of dollars of assests into qualified hands.

Here are some key aspects of the Residential Property Managers Bill:

1. Licensing: The bill proposed the introduction of a licensing system for property managers. This means that property managers would need to obtain a license from the government, demonstrating their competence and suitability to carry out property management services.

2. Code of Conduct: The bill outlined a code of conduct that property managers must adhere to. This code sets out the expected standards of professionalism, ethical behavior, and fair treatment of both landlords and tenants.

3. Education and Training: The bill aimed to establish minimum education and training requirements for property managers. This ensures that property managers have the necessary knowledge and skills to effectively manage rental properties.

4. Dispute Resolution: The bill included provisions for the resolution of disputes between property managers, landlords, and tenants. This would provide a formal process for resolving issues and grievances related to property management services.

Homely have been an a credited agency from the start with the Real Estate Institute of New Zealand, so our clients can ensure they are in safe hands. When looking for a property management company, be sure to check the accreditation status on the REINZ Website

The future for the industry is looking bright!

Spring Maintenance

Spring is a wonderful time to tackle property maintenance tasks to keep your home in great shape. Here are some helpful tips to get you started:

1. Clean out gutters: Check for any debris that may have accumulated in your gutters over winter. These need to be cleared to ensure proper drainage and prevent potential water damage. This is also part of keeping up with drainage standards under the Healthy Home Legislation.

2. Inspect the roof: Look for any loose or damaged shingles, loose or rusted iron, as well as signs of leakage. If these issues are present, consider a professional roofer to address them before they worsen.

3. Trim trees and shrubs: Spring is the ideal time to prune any overgrown branches or shrubs. This promotes healthy growth and prevents potential hazards during storms.

4. Check your outdoor lighting: Replace any burnt-out bulbs and ensure all outdoor lights are functioning properly for safety and security purposes.

5. Inspect your HVAC system: Schedule a professional maintenance check for your heating, ventilation, and air conditioning (HVAC) system to ensure it’s in good working condition for the warmer months ahead.

6. Clean exterior surfaces: Pressure wash your property exterior, decks, patios, and walkways to remove dirt, grime, and mildew. This will not only improve the appearance of your property but also help prevent further damage.

7. Check your fencing: Inspect your fence for any loose or damaged boards, and repair or replace them as necessary. A well-maintained fence enhances both privacy and security and also prevents potential hazards during storms.

8. Prepare your garden beds: Remove any dead plants and weeds, then add fresh soil and mulch to nourish your garden. Consider planting new flowers or vegetables for vibrant and delicious results.

9. Inspect the property for pests: Spring is a prime time for pests, so it’s a good idea to have your property inspected by a professional to prevent any infestations.

Remember, taking care of your property during spring not only increases its curb appeal but also helps maintain its value over time. Happy maintenance!

The Role of Effective Property Management

Property management plays a crucial role in maintaining and enhancing the value of rental investments. If you’re a landlord, having a skilled, qualified and efficient property manager can make all the difference in ensuring the success and profitability of your investment. In this article, we will explore the essential aspects of effective property management and why it is crucial in today’s dynamic real estate market.

  1. Maintenance and Repairs:
    One of the primary responsibilities of a property manager is to oversee the maintenance and repair needs of the property. From routine inspections to addressing tenant complaints and coordinating repairs, a proactive approach to property maintenance ensures that potential issues are identified and resolved promptly. Regular maintenance not only keeps the property in good condition but also safeguards its long-term value.
  2. Tenant Screening and Communication:
    Finding and retaining quality tenants is instrumental in maximizing rental income and minimizing vacancies. A competent property manager will thoroughly screen prospective tenants, verifying their employment, credit history, and references. Furthermore, effective communication with tenants, including addressing their concerns promptly and providing clear guidelines on property rules, creates a harmonious living environment and fosters tenant satisfaction and retention.
  3. Rent Collection and Financial Management:
    Timely rent collection is vital for steady cash flow and sound financial management. A property manager ensures that rent is collected promptly, handles eviction procedures if necessary, and monitors rental rates to stay competitive in the market. Additionally, they are responsible for accurate financial record-keeping, budgeting, and handling day-to-day financial transactions.
  4. Legal Compliance:
    Navigating the legal aspects of property management is a complex task. A knowledgeable property manager ensures that all property operations comply with the Residential Tenancies Act 1986. From lease agreements to health and safety laws, prudent property management minimizes legal risks and protects both landlords and tenants.
  5. Property Marketing and Tenant Selection:
    Vacancies can be costly for property owners. A proactive property manager employs effective marketing strategies to attract potential tenants efficiently. They utilize various online platforms, social media marketing, and networking to showcase the property’s unique selling points, thereby minimizing vacancy periods and maximizing rental income.
  6. Conflict Resolution and Problem-Solving:
    Inevitably, conflicts and problems may arise between tenants, landlords, or neighboring properties. A skilled property manager acts as a mediator, employing diplomatic communication and problem-solving skills to find amicable resolutions. By effectively managing such conflicts, property managers uphold a positive image for the property and maintain tenant satisfaction.

Effective property management is a multifaceted role that requires a range of skills, knowledge, and experience. By entrusting your property to a competent Homely Property Manager, you ensure that your property is well-taken care of, leading to increased profitability, reduced stress, and enhanced peace of mind. From maintenance and tenant management to legal compliance and financial oversight, property management is an invaluable asset in your property investment journey.

  • Amanda Wiapo – Director of Homely Property Management