Property Management Services
➤ Rent Appraisal and Property Presentation
- It is important that we set a market rent for your property*. We will discuss this with you at the beginning, as well as having regular reviews. Setting a rent too high may mean the property stays vacant for a longer than expected time.
- The Residential Tenancies Act states that the landlord must provide and maintain the premises in a reasonable condition. Our recommendation is to start with the property at a higher standard than this. This will allow us to attain higher rents and find good tenants a lot easier.
- We will also discuss the presentation of your property, and make suggestions (if any) on what we think would make it more appealing so that we get the best tenants.
* Note that if a landlord charges significantly higher rent than a fair market rent, a tenant can apply to the Tenancy Tribunal asking for the rent to be reduced.
➤ Financial Management and Reporting
- Landlords can choose between receiving rent (less payments) either weekly or monthly
- We provide a monthly Rent Statement detailing your rental income and expenses for the month.
- Your Rent Statement will be sent to you within 3 working days of our monthly close off date.
- Your Rent Statement will be checked by your Property Manager prior to being forwarded to you.
- We will provide you with an Annual Income and Expenditure Statement within 30 days of the end of the Financial Year.
➤ Marketing Your Property
- We will take photos of the property suitable for Trade Me
- We will place a listing for your property on Trade Me, and each listing will include photographic images of the property.
- We will conduct an unlimited number of private viewings of your property as required.
- All property viewings will be carried out by one of our representatives (we do not give out keys to prospective tenants).
- We will keep you updated you on the status of your available property.
See also the section Tenant Vacating the Property
➤ Choosing a Tenant
- We always require that a prospective tenant fills in an on-line application form, which includes their past history and references as well as personal details. These are checked thoroughly before your property is offered to a tenant.
- All work references and the previous landlord are called personally. We are very careful to ensure that the person we are calling is legitimate and not just a friend of the applicant.
Apart from calling referees and previous landlords, we use the following databases to check the applicant:
- Personal Character Check
- Tenancy database (at Tenancy.co.nz)
- Credit check
- Driver licence verification
- Ministry Of Justice fines database
➤ Tenancy Agreements and Moving In
- When we have chosen a tenant we arrange a meeting with them to sign the Tenancy Agreement and pay the initial upfront costs.
- The Residential Tenancies Act permits a bond of up to four weeks rent. We always request a bond of 4 weeks rent.
- We prepare a Tenancy Agreement covering the details of the tenancy, with terms and conditions.
- We go through all of the most important expectations. For example, how they must pay their rent on time, how to pay their rent, what we do if they do not pay their rent. We discuss our repairs and maintenance policy, what happens in an emergency repair situation, how often inspections occur and what we look for.
- We won't hand out keys until after all the forms have been signed, all bond monies and first payment of rent received. We will not give keys to a tenant unless everything has been paid, and they will never be able to have the keys before the tenancy commencement date
➤ Property Inspections
All inspections are emailed to the landlord
- A initial inspection is conducted with the tenant(s) present, photos are taken and then we will then we provide them with keys and possession of the property. We also supply them with a copy of the initial inspection report, which is signed by both parties.
- We do 4 routine inspections per year at the property, or more often if deemed necessary.
- We do a final inspection when the tenant vacates. We carefully check through the exit report item-by-item, ensuring it has been left in the same condition as when they moved in, taking into account reasonable wear and tear for the period of time they have been in the property. This is a legislative requirement.
- During all inspections we note any maintenance issues and any other recommendations needed to assist you in keeping the property in the best condition possible.
- We also check the smoke alarms at every inspection
➤ Rent Collection and Rent Arrears
We request all tenants to pay the rent by Automatic Payment. We check rent payments daily and follow up on any unpaid rent.
➤ Tenant Vacating the Property
When a tenant gives notice to vacate we will advise you straight away. Once vacated we will inspect the property and allocate the bond where appropriate.
On receipt of a tenant vacating notice we will:
- Advise you by phone and/or email
- List the property on TradeMe
- Prepare all necessary vacating documentation
- Arrange access for viewings by prospective tenants
- A pre-vacating inspection will be carried out to check for any potential problems with the property.
After the tenant vacates the property:
- We will process the tenant’s bond refund within four working days
- If deductions from the rental bond are considered necessary, full details will be provided to both you and the tenant
- We will complete all necessary documentation to finalise the bond within a further 2 working days.
➤ Repairs and Maintenance
We will arrange any repairs to your property as per your instructions on the Management Authority.
We do not charge any fees for managing repairs and maintenance.
We will have an agreed value in the Management Authority up to which we can organise repairs and maintenance without requiring your approval. Out of courtesy, and to maintain good relationships, we will usually advise you at the time. For any repairs above the agreed value we will contact you for instructions.
For Emergency Repairs we will try our best to contact you first, but if we can't get hold of you we will arrange for the work to be done immediately.
What constitutes an "Emergency Repair?
- Water pipes have broken or burst
- Blocked or broken toilet (if a second toilet is not available)
- Serious roof leak or gas leak
- Dangerous electrical fault, dangerous power point, loose live wire etc;
- Flooding, rainwater inundation inside the property, or serious flood damage
- Serious storm, fire or impact damage (i.e. impact by a motor vehicle)
- Failure or breakdown of the gas, electricity or water supply to the premises
- Hot water service failure on a weekend, or long weekend (this would not be considered an afterhours emergency if this occurs on a week night)
- Fault or damage that makes premises unsafe or insecure
- Fault likely to injure a person, cause damage or extreme inconvenience
➤ Smoke Alarms
Smoke alarms are required to meet the standards set by the government. Hamilton Property Management will ensure all properties are compliant.
Smoke alarms must be installed:
- within 3 meters of each bedroom door, or in every room where a person sleeps
- in each level or story of a multi-story or multi-level home
- in all rental homes, boarding houses, rental caravans, and self-contained sleep-outs
All new smoke alarms must:
- be photoelectric
- have a battery life of at least eight years, or be hard-wired
- installed according to the manufacturer’s instructions
- meet international standards
Existing smoke alarms do not need to be replaced if they are working, or have not passed the manufacturer’s expiry date.
Landlords and tenants are both responsible for maintaining smoke alarms
Landlords must ensure smoke alarms:
- are in working order
- are working at the start of each new tenancy.
- not damage, remove, or disconnect a smoke alarm
- replace dead batteries during the tenancy if there are older-style smoke alarms with replaceable batteries
- let the landlord know if there are any problems with the smoke alarms as soon as possible.
Landlords have the ability to enter a rental home to comply with smoke alarm requirements after 24 hours’ notice between the hours of 8 am and 7 pm.
Landlords and tenants could be fined up to $4,000 for not meeting their obligations.
For more detail, please go to the Tenancy Services website to view the requirements.
Does your rental home meet the new insulation standards? Ceiling and underfloor insulation must be installed, where reasonably practicable in all rental properties by July 2019.
Any new tenancy agreements must include an insulation statement that covers what insulation the home has, where it is, and what type. The details required are quite specific and it’s important to get this information right to ensure you are compliant and so that tenants know what to expect before signing the tenancy agreement.
Hamilton Property Management will work with you to ensure that your rental property is compliant with the new regulations. For more detail, please go to the Tenancy Services website to view the requirements.