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HOW IS GOOD NEIGHBOURS PROPERTY MANAGEMENT DIFFERENT FROM OTHERS IN OUR FIELD?
There has been a lot of change in the Real Estate sector, from technology to legislation. To embrace change, we must constantly ask ourselves how we can add value to our clients.
Being a small company, we can make value added decisions quickly due to being less rigid with a smaller hierarchy. This is an advantage over the larger companies who have been in business for decades and are set in their standards.
Our competitive advantage is changing, to suit the real estate needs of our customers.
Contact Patrick Rankin today.
HOW DO YOUR FEES WORK?
Our All Inclusive Property Management fee is 8.5% +GST.
This fee is deducted monthly from rental income we collect from the tenants on your behalf.
This fee gives you an all inclusive property management service. We will not charge you extra for letting, processing water rates, or arranging property maintenance.
Our fees are a 100% claimable expense.
WHAT ARE MY OBLIGATIONS AS A LANDLORD AROUND CHANGING FOR WATER?
Water is split in to two parts. The first part is the ingoing and the outgoing water. This part depends entirely on how much water is used, and can be zero if the house is vacant. This is the metered water.
And then the second part is the fixed water rates. This is a fixed monthly charge that will be charged no matter what the usage is, whether the house is vacant or not.
Landlords pay the fixed charges only. The ingoing and outgoing (metered) water is chargeable to the tenant.
HOW CAN I END A FIXED TERM TENANCY AGREEMENT EARLY?
A fixed term tenancy agreement can be ended early if both parties agree to it. Without both parties agreeing to ending a fixed term agreement before it’s end date, then it remains a legally binding agreement.
A tenant wanting to get out of a fixed term early will often need to cover the cost of marketing the property for rent, in order to find a new tenant to move in before they can be released from their lease.
WHY DOES MY RENT INCREASE EVERY YEAR?
There is demand and supply which affects rental property, and also there is inflation of our every day goods and services which influences rental property.
With demand and supply, when there are more jobs available in one area compared to surrounding areas. People will move to where the work is, and the demand on housing in that area will increase. Supply is generally slower to catch up, and until supply can catch up. There will be an increase in prices for rental property.
There is also inflation and the Consumer Price Index (CPI) This is the price change of consumer goods and services. As prices increase, it influences interest rates and benefit payments, and it influences rental property also. Over the last few years, I have seen rental amounts in Auckland increasing at about 3% each year, which is a little higher then what the CPI has been at around 2.5% which makes sense as Auckland has had a steady increase in population, and the housing supply has not yet caught up.
HOW OFTEN DO YOU PAY LANDLORDS?
We pay landlords twice a month. On the 1st of the month, and on the 15th of the month. Unless these dates fall on a public holiday or a weekend. In which case we will pay landlords on the next working day.
HOW OFTEN DO I GET STATEMENTS?
Monthly Statements are issued at the end of each month. This happens on the 1st day of the new month.
We also provide a financial year statement. This is generated at the end of the financial year and sent to our landlords for their accounting needs. We do not issue mid month statements.
WHY HAVE YOU PAID MY FULL WATER BILL? DOESN’T THE TENANT PAY MOST OF IT?
When we receive the new water bill from Watercare, we pay it in full with your rental funds we have collected. Thus it will show up in your statement as a full expense from your account.
We then charge the tenants for their usage and collect the water from them, to reimburse you. This will then show up as a credit in your statement and balance out at the bottom line.