Including Upper Hutt, Lower Hutt and Petone

PROPERTY MANAGEMENT SERVICES AND FEES

MANAGEMENT SERVICES
FEE STRUCTURE

Management Services

Rental Managers Ltd is dedicated to providing an efficient and cost effective property and tenant management service to our clients in the Wellington region.

Property Management services we offer:

1. Property Advertising
2. Tenant Selection
3. Setting and Maintaining Market Rents
4. Rent Collection
5. Arrears Management
6. Regular Inspections
7. Maintenance Services
8. Financial Management and Reporting
9. Customer Service

1. Property Advertising

We will advertise your property to attract tenants through our website. We also utilize other avenues of advertising to attract prospective tenants such as TradeMe and local newspapers.

2.Tenant Selection

We carry out a defined process when selecting tenants for your property. To ensure a suitable tenant is selected we will

- Interview the tenant
- Completion of a Tenancy agreement
- Complete reference and credit checks on successful applicants.

Once a suitable tenant has been selected we will collect the bond, complete the tenancy agreement and ensure the tenant has a smooth transition moving into your property.

3. Setting and Maintaining Market Rent

We regularly review market rents and will initiate any rental increases on your behalf as the market changes. At the same time we will also indicate to the owner if a rental reduction is required to ensure your property is tenanted with maximum occupancy.

4. Rent Collection

Rent is automatically paid by tenants into our rental account which we monitor daily via our property management database. We also collect bonds and forward these to the Bond Centre in accordance with Residential Tenancies Act 1986.

5. Arrears Management

We have a zero tolerance policy on rental arrears which is identified automatically by our rental account management system.

We will act promptly on your behalf to resolve any arrears with recovery proceedings beginning as soon as rent is one day late.

We will represent you at Tenancy Tribunal Hearings as your Agent.

6. Regular Inspections

We undertake regular comprehensive inspections at the following intervals:

- Three months after the start of a new Tenancy
- Six monthly intervals
- Final bond inspection

* Additional inspections may be conducted at your request.

Our property inspections are to ensure that there are no maintenance issues and that the tenant is looking after the property to the standard we expect. We own and invest in property like our clients and understand the importance of regular inspections. We also take photos at each inspection for our records and carry out an inspection report which is noted on the Rental Statement advising you of any maintenance issues and concerns regarding the condition of the property.

7. Maintenance Services

We organise any maintenance on your behalf up to a set monetary value agreed to. We will at your request go ahead and get quotes for any other work that may be required.

We have a team of professional tradesman who we use regularly. We monitor the maintenance closely to ensure that the work being carried out is done to a high standard and is completed on time.

8.Financial Management and Reporting

All rent received (less expenses) is transferred into your account on a monthly basis.

We provide a comprehensive statement detailing your rental income and expenses for the month. We also send any maintenance invoice copies for your records. We encourage our clients to utilise email for receiving statements, however you can be posted a hardcopy if required.

Our monthly statements contain all the information necessary to file your tax returns efficiently. We also provide a summary statement at the end of each financial year.

9. Customer Service

We maintain close contact with our clients and will communicate with you directly on any issues relating to the management of your property.

We also keep in touch with tenants regularly through our inspections. We treat tenants as our customers and deal with them consistently and fairly. By establishing strong relationships with our tenants we minimise potential disputes, arrears, or other problems.

Fee Structure

Rental Managers Limited is committed to providing the lowest priced Wellington property management service for landlords.

We achieve this by providing a low management fee of only 7.5%+GST

The following services are all included within our property management fee

• Promotion of your property via our website
• Tenant screening and selection
• Bond collection and lodgement
• Rent collection
• Payment of rent collected and financial reporting monthly
• Arrangement of repairs and maintenance as required and agreed
• Rent reviews
• Arrears and dispute management

We do not charge administration fees or commission on repairs.

Additional Fees:

The only times that additional fees for the management of your property would be incurred are:

• Additional advertising TradeMe $99
• Media Advertising
• Inspections $30 plus GST
• Non recoverable tribunal fees (e.g online tribunal application fee $20)