What You Should Look for in a Property Manager?

Do they:

• Belong to a supporting organization in the industry?
• Have a proven track record in property management?
• Have referees you can contact?
• Invest in property themselves?
• Supply all the information you may require about their company and their services up front?
• Give at least monthly detailed statements to owners?
• Hold public liability insurance?
• Have a no-tolerance for rent arrears policy?
• Adhere to the RTA?
• Operate a separate account for rents received?
• Have no criminal history themselves or their staff?
• Keep up with law and market changes ?
• Have a reliable accounting system and have processes already set up?
• Do regular property inspections and organise maintenance as required?
• Act in a professional manner at all times?

 Why You Should use an Independent Property Managers'

Association Member?

• On application for membership, all Members are carefully screened
• Members are in the primary business of property management? They do not sell houses. Most Members are property investors themselves.
• Members are up-to-date on the latest issues in the marketplace.
• Members have regular meetings, educational sessions and newsletters to keep them in touch with the latest in best practice.
• The Association encourages and promotes ethical conduct by its members.
• The Association provides a complaints procedure for dealing with complaints from property owners.
• The Association promotes and lobbies for law reform when necessary
• The Association provides a great pool of operating experience and networked information .
• The IPMA and its members are affiliated to the NZ Property Investors' Federation, being consulted by them on property management issues.

 Some of the benefits of choosing an IPMA approved property manager are:

• The majority of independent property managers are themselves property investors with firsthand knowledge and experience of the market place. The people, who own the business, run the business with all the accountability which that demands.  They are not simply employees of a company who have no stake in the business. This gives independent property managers a great understanding of property investment.
• Money is never held in dedicated accounts for more than 30 days and usually no more than one to two weeks. A number of members provide clients with access to their accounts 24 hours per day, seven days a week via their computer accounting system. 
• Property management is our core industry. We are not distracted by other activities. Association members run successful businesses without a letting fee.  To do this they efficiently control rent arrears, while at the same time concentrating on superior service levels.
• We take great care to select the right tenant for each property, including extensive credit checks, tenant history reference checks (including overseas referees) and we work during weekends when prospective tenants are out and about. Under no circumstances do we hand out keys – an outrageous practice and a dangerous one for owners.
• Our members do not delegate office staff to carry out rental assessments. This practice can give inaccurate expectations for an unsuspecting purchaser, and it can have ramifications for the purchaser when arranging finance.
• Our members are police and reference checked as part of the application process.
• We have systems in place, to trouble shoot before problems arise.

Useful Organisations and Websites for Landlords

New Zealand Property Investors' Federation www.nzpif.org.nz

Canterbury Property Investors' Association www.canterbury.nzpif.org.nz/

Department of Building and Housing www.dbh.govt.nz/

Market Rent Information www.dbh.govt.nz/market-rent