The discipline behind property management Auckland is handled by a professional that is responsible for managing day-to-day operations with the rental property. They are a third party that is hired by the property’s investor or landlord to oversee exactly as it was aforementioned. While they do share similar responsibilities, it can vary depending on the type of the property that they are going to manage. It will also affect the amount of money they are going to be paid with and the terms stated in the management contract.
This is one of the most common responsibilities that a property manager must do. It includes the following:
- Setting up the rent – this is to set the right level of rent rate to attract the tenants to the property being managed. Since they are experts, they are the ones that understand the market well, especially with the area that it is located.
- Collecting rent – they oversee the optimal cash flow which is done by setting up the date in collecting rent every month. They are also responsible for enforcing strict late fees.
- Adjusting the rent – they also have the right to adjust the rent according to a fixed percentage every year, which is based on the municipal law and individual state. This can either increase or decrease whenever the property manager feels it is necessary.
Responsibilities of the Tenant
The property manager is also responsible for managing the tenants.
- Finding tenants – it is the responsibility of a property manager to fill up the vacancies. They are knowledgeable in where to advertise the properties for rent and what details are to be included in the ads. They understand what makes a property attractive to potential tenants, which is why they usually provide tips on how to make the property attractive to them through a makeover.
- Screening tenants – the property manager doesn’t just accept any tenants. Every potential tenant goes through a screening process, which includes checking out the credit checks and even with a criminal background. These processes will decrease the chance of the property owner or landlord being accused of discrimination. With experience, the property managers can select the perfect tenants of a property – the ones that can pay on time, create lesser problems and even longer tenancy.
- Handling the leases – this process pertains to the lease term and also ensuring that it comes with all the necessary clauses that will protect the owner. The lease includes determining the security deposit’s amount needed.
- Handling emergencies and complaints – the property manager is paid to deal with various complaints and emergencies, such as noise complaints, maintenance requests and even contacts required to handle various emergency situations.
- Handling with move-outs – when a tenant decides to move out, the property manager is the one responsible for inspecting the property or unit to check for any damages and also determine which portion of the security deposit must be returned to the tenant. After moving out, they will be responsible for cleaning up the unit, repair damages and find a new tenant to fill the vacancy.