Your Local Property Managers Ltd believes in a simple and fair fee structure when it comes to managing your property. We work on an 8.5% + GST of the rent received; that’s it. No inspection or letting fees.
The difference for you is that if we place a bad tenant, it costs us, not you, to fix our mistake. If the tenant needs frequent inspections, this comes at our expense. If a tenant abandons the property, we bear the costs of vetting, advertising, and placing a replacement tenant.
If a tenant is a frequent late payer and needs chasing or if the tribunal needs to be involved, there are still no extra fees for you to pay. At the end of the day, you're paying us to manage your property, and if we can’t stand behind our choice of tenant, then what are you actually paying for?
When you pay a week's rent as a letting fee (the industry norm), what incentive is there to pick a great tenant? When a poor choice generates further income and letting fees, or they need to do 8 inspections a year, that’s extra billables on your account. If you need the tribunal, you better stump up for both the application fee and the attendance fee.
Win the tribunal and tenants are out, great, but guess what? The property needs to be advertised again, another expense on your account.
Add to this the 6+% you are paying out of the rent weekly before the extra fees, and actually work out what the true percentage you're paying per year to manage your property.
Yes, we know that the property management fee is a tax deduction, but an extra $1000 that can be spent on maintenance (that is also tax-deductible) yields a better return than overpaying your Property Manager.
Our team is the most important element in our business, and we not only ensure we pay market-leading rates but also pay for any training, conferences, and subscribe to Tenancy Practices to ensure we are at the forefront of industry change and training. As we believe in planning for the worst and hoping for the best, we hold statutory, asset, and liability insurance so no matter what, your asset is protected by industry leading practices.
It's true for most things, but then you won’t see us driving around in Mercedes and BMW’s (to the disappointment of the Property Managers). Our job is out in the field and on the phone, so we work from our cars and homes, and we have been operating this way since 2019 with great success.
We don’t need a large flashy office; if we meet a tenant, we want to do it at the property, so at the same time, we can pick up any issues that happen between inspections. When we catch up with an owner, we would much prefer to take you out for a coffee than sit in a stuffy room or give you a call on Zoom or by phone at a time that suits.
By being smart with our tenant selection, meaning that we don’t have to spend money every week chasing tenants, taking them to tribunal, or advertising the same property 4 times a year.
Putting our money where our mouth is and owning our selection means we don’t have huge expenses, meaning we don’t need to pass these onto you.
We utilize the same platforms as franchised players: Realestate.co.nz, Allhouse, Facebook, Trovit, homes.co.nz as well as our own “property wanted list” of waiting tenants. Tenant vetting is our specialty, and we undertake extensive background checks although having a licensed Private Investigator in the company helps with this.
Just like standing behind our tenants, we stand behind our service. Not happy?
We don’t hold you to a fixed term and will assist in the transfer to self-management
or another company – but here is the rub: if you leave within 3 months of us placing
a tenant, we will charge you $250 to recover our costs.
We work as a team that comprises 2 full-time property managers, 1 part-time property manager,
a full-time administrator, and a working Director.
Unlike many firms that funnel you to a single person, we utilize the latest software,
frequent meetings, and great communication to ensure we are all on top of your needs and
any tenant issues to ensure continuation of service regardless of sick leave, annual leave, or workload.
It’s great news that we helped get you a fairer deal, and if you're happy with having been overcharged in the past then stick with the status quo. However, if you decide that you want a property manager that has a vested interest to care about tenant selection, rent collection, and being on top of issues then we can assist in the transition.
At the end of the day, this is the most important question, and the numbers don’t lie. For every $100 in rent collected, we take out our 8.5% plus GST and pass the balance to you fortnightly regardless of how much work we had to do that week for your property. This means if your property is vacant for 2 weeks and we are advertising, vetting tenants, and doing open homes, we aren’t generating any income, so it is always in our best interest to ensure the rent is always coming in weekly. Can your current property manager say the same?
Call us on 0800 114 978 or email one of the team at [email protected]