Frequently Asked Questions:
Q: How do I change my property over if it is currently being managed by another agent?
Simple! If you currently have a property managed by another agent and you're not satisfied with the service you are getting and would like to change over to RESIDENTIAL RENTALS all you have to do is fill out the online Transfer of Property Management Form, fill out our online Property Management Agreement and we will take care of everything else for you. We will organise for the tenant to be notified and for the keys to be collected from your managing agent. Everything else carries on as usual. Changing your managing agent could never be easier.
Q: How long will it take to find a tenant for my property?
This is a common one and there is no guarantee on how long it takes to rent a property however the better your property is presented, the more realistic the rental amount you are asking and the better the agent whose letting your property, the quicker it will rent out. At RESIDENTIAL RENTALS we have among the lowest vacancy rates in the industry.
Q: What happens if my tenant does not pay rent?
We monitor tenant arrears on a weekly basis. When a tenant is in arrears we will contact them via telephone, email and SMS. If the tenants rent is less than 21 days in arrears, we will send the tenant a 14 days notice first, alerting them to the rent arrears. Once we have sent the tenant a 14 days notice, we can apply to the Tenancy Tribunal and ask for arrears to be paid under section 56 of the Residential Tenancies Act 1986. We can apply to the Tenancy Tribunal before the 14 days notice expires.
Under section 56, we can request that the tenancy continues while rent arrears are repaid.
However, we can also request an order is made to:
· terminate the tenancy if the arrears are not paid
· release the bond if the arrears are not paid.
If the tenants rent is more than 21 days in arrears, we can apply to the Tenancy Tribunal for help under section 55 of the Residential Tenancies Act 1986.
We will communicate with you throughout this process and a Notice to Vacate will never be issued without discussing the situation with you first. It is our intention at all times to minimise any loss to the owner so these actions need to be carried out promptly.
Q: Is an agent's location important to their ability to manage my property?
One of the most common misconceptions about finding an agent to manage your property is that they need to be located in the neighbourhood. Long gone are the days when
prospective tenants went from real estate agency to real estate agency looking for homes to rent in any given
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area. They simply don't have the time. Over 95% of our entire tenant enquiry now comes from the internet meaning that we can quickly and easily rent out properties in a very large geographic area as well as nationwide. We can also very quickly assess rents in any given area to determine what the right amount of rent is for a particular property. At RESIDENTIAL RENTALS we easily manage properties all over Auckland and Nationwide. Q: What do I do if I want to sell my property? If we currently manage your property and you are looking to sell or even if we don't manage your property and you are looking to sell, your choice of agent is of critical importance in ensuring you get the best price in the sale. Many of our owners live all over New Zealand or Overseas and don't have relationships with selling agents in the area that their property is located in. We specialise in renting properties but do have a vast referral network so that we can easily put you on to the best agent to sell your home no matter what suburb it is located in. |
Just call us and will put you in touch with the right people. Our goal is that you get the very best return on your investment and that extends to ensuring that the best possible price is achieved when you want to sell.
Q: Do I need landlords insurance?
As with any insurance policy, it is not compulsory to have landlord insurance on your property, however we strongly recommend that every investment property owner has a specific landlord insurance policy in place for their property. Landlord Insurance protects you in the event of a tenant not paying rent, departing the property early or damaging the property and is seperate from your normal House Insurance. It also includes legal liability for the landlord and is fully tax deductable. For more information please click here.
Q: How should I know what my property will rent for?
You will get the best indication of what rental amount you should be getting on your property by closely comparing it to other properties similar to yours that are currently being rented or have just been rented. The best way to do this is to either
talk to your managing agent or just log on to http://www.realestate.co.nz/rental and Trade Me. These will give you an idea of what properties are renting for in your area. Apart from this, market forces
will determine exactly what amount of rent you achieve. If you have a very popular property you will get more interest and subsequently a higher rent. If you have a property that is less rentable, you will find it hard to command a premium rent.
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Q: Do you have affiliations with other real estate agencies if I want to sell my property? At RESIDENTIAL RENTALS we specialise in managing investment property, however we also understand that part of investing in property is buying and selling. That's why we've gone out of our way to build affiliations with quality real estate agencies that can sell your property regardless of where it is in New Zealand. Being industry insiders we know which agents do a good job and which ones you should steer clear of, so don't do anything without talking to us first. When you want to buy or sell a property call us directly and we'll put you in touch with the most suitable agent for the type of property you own, and the area it is in. |
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