See below for frequently asked questions from our Owners.
How long does it take to rent out my property?
The demand for rental properties in Dunedin is traditionally strong thanks to local business, the university and the hospital. If a tenant gives three weeks’ notice as they are entitled to do with a periodic tenancy, it is very unlikely we won’t have somebody to rent the property at (or shortly after) the end of the notice period. However, we can never guarantee the market conditions.
What is the likely rental amount for my property?
We will advise you of a fair market rental which will be based on what similar properties are currently renting for. Depending on your situation, we can try to get a higher figure and feedback will quickly tell us if this is too high.
When you find potential tenants for my property, how do you qualify them?
When potential tenants show interest in your property, they complete a comprehensive application form which includes details of their personal and work situations, and current living/renting arrangements. This gives us the authority to check personal and business references, previous landlord references, permission to check with online tenant referencing and also to carry out credit checks. Our property managers talk to hundreds of groups every year and have a good feel for suitable tenants. Only once we have all the information required and are 100% comfortable with the applicant will we select them as a tenant for your property.
How do we get paid?
Rent is paid to us weekly, fortnightly or monthly and this is monitored daily to ensure tenants meet their obligations. We forward the rent to you either mid-month or end of the month minus our management fee. Also deducted, if applicable, is any maintenance work that has been carried out on your behalf.
How often do you conduct property inspections?
We generally inspect the property every three months. We conduct inspections so the tenant knows the property is being monitored, to make sure it is being looked after and to try to spot any maintenance issues. A letter or email plus a comprehensive report are sent to you after each inspection. The tenant can also request a copy.
If I decide to sell my property, can Property Management Works help?
Absolutely. We can refer your property to the very best agent and project manage the sale on your behalf. Also, we work with the tenants to ensure their ongoing cooperation throughout the process. Plus, we make sure that all rights and responsibilities under the Residential Tenancies Act 1986 are adhered to and the transition goes as smoothly as possible.
How are rental debts handled?
Due to the types of tenants we select we have very few problems with terminations due to lack of rent or through damage caused at the property. If you have specific landlord insurance, chances are your insurance company will pay you out a lump sum in a worst case scenario. If you have no specific landlord insurance for rent arrears, we will lodge the debt with a debt collection agency and they will chase the debt for you – and in all likelihood recoup the money. This is done through the court system however, which takes some time and in most cases repayment is a ‘drip feed’ of $5 to $20 per week.
The cost of returning the property to market-ready condition is met by the owners unless they have suitable insurance. We recommend REAL Quantum Landlord Insurance as the best insurance policy to take out.
Are you the cheapest company in town?
Probably not, but we are certainly not the most expensive. In fact, our rates are very competitive. We believe our service is the best in the industry and our staff are the most qualified. You get great value for money using Property Management Works and there are no hidden costs.
Who handles problems late at night or on weekends?
Our property managers are available 24 hours a day, seven days a week to deal with emergencies. Our tenants are briefed thoroughly at the commencement of their tenancy on what constitutes an emergency.
Why should I choose Property Management Works?
We are owner-operators – the buck stops with us. We take away your day-to-day worries, eliminate as much risk as possible and employ qualified, experienced and enthusiastic staff. We believe in professional development and actively promote up-skilling among our staff members in order to deliver a superior level of service to our clients.