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Landlords

Landlords

What we do for you

Below is a short version of just some of the activities we will perform for you as your property manager. This will give you an overview of what the management fee covers. 

Our Property Manager

Bob Howard is the Property Manager here at Loyal Realty LTD and has been in Property Management for over 40 years with a previous rent roll of 450 properties. He is up to date on all law and act changes and has attend training / information courses at Harcourts Academy Training to make sure he can provide the best possible service. 

Advertising:

On the Internet, through our office data base and “FOR RENT SIGN” erected on the property if requested.

Tenant Selection:

Tenants fill in two page application form, references, ID, credit check, Tenancy Tribunal order search are all completed, the tenant is then presented to you and you have the final decision.

Tenancy:

Before the tenant moves in a photo report is created, the tenant signs the Harcourts Tenancy Agreement, one weeks rent taken and up to four weeks rent for bond.  The tenant pays the letting fee.

Inspections:

Periodical inspections are every three to four months, with photographic evidence being taken and kept on file. These are available if requested owners. If other inspections are required eg: sales appraisals, valuers etc. these are organised by us on instruction from you. 

Rent Reviews:

Rent reviews are carried out every six months. You are informed of our market opinion in writing.

Maintenance:

Reported to us, you are contacted for instructions, we have competent and trusted contractors to complete maintenance that you cannot. We can also organise renovations and major repairs, gather quotes and complete the work for you if required. 

Rent Arrears:

Systems are in place to minimize losses, application sent to tenancy tribunal at 15 days behind. Mediation and Tribunal hearings are completed. Application lodged to Baycorp for collection of outstanding money owed.

Vacating:

Tenants advised at time of vacating on damages required to be repaired, they are given 24 hours to complete before we organise outstanding tenant damage. Photos will be taken and documented.

General Management:

You are paid out rent twice a month. Statements are emailed and posted at the end of the month. Repairs are charged to your rent account with invoices attached to your end of month statement. 

Landlord information: Points of consideration

Rental value of your property:

  • The rental price of your property will determine the overall success and let of your property. Pricing too cheaply or too highly may hinder you as an owner to achieve gross rental value. It is important to keep in mind that tenants are prepared to pay for well maintained, tidy properties. 
  • Overpricing will hold back potential tenants as they are instinctively taught to shop around for the best price. 
  • Appropriately priced properties relevant to the rental market will let faster, generating long term tenancies. 
  • Negatives regarding self-managing a rental property

Drawbacks and costs:

Selecting a tenant, rental documentation, arrears, advertising, organising maintenance repairs and conducting routine inspections followed by a number of other issues arising are time consuming and costly to an owner. Some landlords simply do not have time to respond to maintenance requests or carry out inspections. 

Bad tenants:

Bad tenants can potentially damage your property and leave rent owing. Not only is this costly and time consuming bad tenants can also leave an effect on you. Evicting a bad tenant takes time, required by law to give 42 days written noticed prior to eviction. 

Distance between you and your rental property:

Hiring a property manager to handle maintenance repairs can be preferable as multiple trips taken to your rental property would not occur. In this sense the property manager may also use contractors or handy men that provide a discount as they have repeat customer dealings.