Investing in property is one thing. Managing property is another.
Metro Property Management has a reputation among local and out-of-town investors as a company that takes exceptionally good care of rental properties.
It’s important you receive an accurate market rent appraisal. We identify similar properties’ current rental incomes, then work with you to determine your property’s asking figure, balancing maximising your return alongside a timely rental.
Marketing your property
Different properties suit different tenants and our marketing plan for your property reflects this. We begin by cross-referencing the property’s specifications with our list of current enquires. Properties are advertised on our own website, as well as Trade Me and Realestate.co.nz.
Tenant screening and selection
Our Property Managers have a combined 30 years’ experience in property management. As a result, we have an extensive database of tenants and their histories, as well as excellent networks across Otago. We use these to check the accuracy of tenants’ information. Where tenants are not known to us, we carry out intensive screening, contact referees and run online credit checks.
Before your tenants move in, we evaluate the condition of your property. The tenants sign this pre-tenancy inspection report and it is used as the basis for our quarterly inspections.
All rent collected on your behalf is paid directly into Metro Property Management’s trust account and held there until it’s paid out to you twice monthly. You receive monthly statements, which summarise rent received and expenses incurred, as well as annual statements suitable for year-end tax return purposes. We facilitate bond payment and lodgement with Tenancy Services NZ. Each year, we review your rent/s, so they reflect the current market.
Quarterly inspections serve two purposes: to check how the tenant is keeping your property and to identify any maintenance requirements.
So your property remains in good condition, we keep a close eye on maintenance requirements. Small repairs can be carried out on your behalf (up to an agreed limit), while any major repairs are discussed with you prior to being actioned.
Property owners have varying preferences for how often they want to be contacted. At the outset, we determine your preferred method and frequency of communications.
A final inspection is carried out once the tenant has fully vacated the property, using the original pre-tenancy inspection report as the baseline.
We manage the process when the tenant exits the property, including the bond release from Tenancy Services NZ or facilitating the bond’s use for any relevant repairs.