Our property management services
Right from the moment you first contact us, Point Property Management team will provide a thorough service to ensure every aspect of your property is cared for and covered. Our service includes:
Getting to know you & your property
Our first priority is ensuring we understand your property and your financial goals. We will tailor our service to meet your exact needs.
Setting the rent
Our focus is maximising your return on investment – so it is essential that we start by setting a competitive rental rate that will be attractive to good quality potential tenants. To do this our team will take into consideration the number of similar properties that are being marketed in the same area as your property, what the local rental market is currently doing and seasonal fluctuations.
Marketing your property
To find the best tenant it is important that your property be as visible as possible. We advertise using the following:
- Websites: Trade Me, Real Estate and Point Property websites
- Rent Boards: Where appropriate will be placed outside your property (our RENT ME signs have a proven track record of increasing the number of prospective tenant applications).
Choosing the right tenant
One of the most important services we provide is a thorough vetting process of all potential tenants. All candidates wishing to live in the property must submit a comprehensive application form which includes employment and current/ previous landlord details. We then conduct thorough reference and credit checks.
Initial property inspection report
Prior to tenants moving in the property manager will conduct a Sign-On inspection to confirm the condition of all aspects of the property prior to the commencement of a new tenancy. We provide a copy of this report to the tenants, which we ask them to sign.
New Tenant Inspection
After 6 weeks of their tenancy, we will conduct an inspection to ensure the new tenant is settled and everything is in order.
In most cases we sign all new tenants up on a 12 month Tenancy Agreement. Neither the tenant or owner can give notice to end the agreement before the agreed date. If the tenant was to vacate the property before the expiry of their fixed term tenancy date, the outgoing tenant has a legal obligation to continue rental payments until the expiration of that agreement or until a suitable tenant can be found. Once the initial agreement period has lapsed the tenant is required to give 21 days notice to vacate the property. The owner is required to provide 42 days notice if they decide to sell or require the property for personal use.
We collect 4 week’s rent as bond and deposit the money with Tenancy Services. In addition, we also collect one week’s rent in advance.
Notice to vacate
On receipt of a notice to vacate we will confirm the details in writing to both you and the tenant. We will then list the property and update you on our progress. We will conduct an inspection once the tenant has vacated the property, to ensure your property has been left in the same state as when the tenant took possession, excluding reasonable wear and tear. Only then will we process their bond repayment, making any deductions if necessary.
Monitored daily, we have a policy of acting immediately on any rental arrears. Payment of rent less fees and disbursements is paid to owners on a monthly basis. Updated daily, you can review the status of your properties account online at any time of the month. Point Property has a ZERO TOLERANCE policy for rent arrears.
Please note for the added protection of your property’s income, all rent payments are held in an audited Trust Account
Our Rent Reviews are conducted every 6 months to ensure your property is getting the best return and is in step with the market rates.
Regular Property Inspections
We will conduct 13 weekly property inspections. After each inspection we will send you a comprehensive report (including photos) with the outcome.
Annual Inspection & Property Growth Plan
Every year we will conduct a thorough assessment of your property & recommend renovations and improvements which will result in an increase in your rental potential and capital value
We address all minor repairs immediately and advise on any recommended future maintenance through our regular inspection reports. We work with a team of skilled tradespeople, so our owners can have the confidence in knowing their tenants will be looked after quickly. Repairs & Maintenance will only be carried out if:
- It’s a tangible health & safety issue
- It will prevent greater expenditure in the near future
- It will lead to an increase in equity & yield
Please note our Property Managers are NOT remunerated on a commission basis for R&M, so you can be assured their recommendations are only for what is necessary to be done.
Residential Tenancies Act
The Residential Tenancies Act (RTA) has been undergoing a raft of changes recently in terms of the landlord’s obligations. We are on top of these developments, will advise you of any changes that will affect your property, and help arrange & supervise any changes that need to be made to ensure your compliance. Leave it to us.
New Healthy Homes Standards
As a part of the RTA changes, new Healthy Homes Standards will come into effect 1 July 2021. Point has developed a Healthy Homes Assessment & Implementation program, which will ensure your property meets all these new standards and has the benefit of our special contract rates.
New Methamphetamine Standards
The problem of methamphetamine is something we are very aware of and quick to address. Point has a well-developed and resourced strategy for dealing with this issue, including expertise in assessment and thorough documentation.
The 2018 Privacy Bill has changed what information can legally be collected on your tenants. Using Point’s thorough tenant vetting process will ensure you get the best tenants using the correct procedures.
Your obligations to your tenants also include your insurance cover. Click here to read our latest guide to landlord’s insurance.
Tenancy Tribunal Actions
Sometimes it can’t be avoided, and you will be required to be represented at a Tenancy Tribunal. With over 25 years of experience in property management, the team at Point know how the system works, and will effectively handle these situations for you.
Step one: Conducting a property review
There are three types of renovations on a rental: what needs to be done; what would be nice to do; and what will deliver increased capital value/ROI.
There are three considerations that Point Property will take, as the first step in reviewing your renovations: who your key tenants or prospective tenants are (and what the opportunities are), what the limits are, and what your desired properties and portfolio goals are.
Step two: Renovation recommendations
There are both large and small renovations that can result in increasing the long-term capital value of your property – and the short-term rental return.
Point Property’s Yield & Capital Growth Plans are unique in providing owners with comprehensive recommendations on worthwhile renovations – as well as the ability to plan and manage these renovations on your behalf.
Talk to your property manager about options on your portfolio – or if you aren’t currently a Point client, get in touch!
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