Choosing Your Property Manager

For over twenty years we have run our property management business on the Kapiti Coast. (Our birthday was in early May.) We have been confident in our expertise and professionalism, and we have looked after thousands of happy clients. We have assumed that other operators have the same values, and that there is an equilibrium in the marketplace. However, stories abound about bad landlords. For this reason Parliament is about to legislate for regulating the property management industry.

We live in volatile times. Higher rents make it enticing for an entrepreneur to set up shop as a “boutique” property manager and solicit a piece of the pie. As a property owner you should carry out your due diligence when selecting a property manager. Ask for qualifications and references. Recent changes to tenancy law make it vital that you have a property manager who knows and follows the law, and who can give you good advice. In our office we constantly discuss the current law and the ramifications of any changes.

The word “trust” is often quoted in our business. Relationships are built on it, but sometimes we go blindly without checking the placement of our trust. We are asked to check references of prospective tenants, so why shouldn’t you apply the same diligence in checking out your property manager? In the past we have been told by one property manager : “I only do drive-past inspections because I’m scared to go into the house”. Another said: ” I haven’t done inspections because they’re from a good family”.

When doing your checking, go into the office, or place of business, and meet the frontline property managers. Make sure you’re comfortable with their ability to cover after-hours emergencies. They will be your ears and eyes. Also, ask your own plumber or electrician what local property managers they would endorse. Become confident that the property managers know what they are doing and will represent you capably and diligently as your agent.