Frequently asked questions
- How quickly will you find me a tenant?
- How much will my property rent for?
- How will you find me a tenant?
- How do you qualify tenants? The approval process.
- When and how will I receive my money?
- How is the money paid to me?
- How do you collect the tenant’s rent?
- What happens if the tenant does not pay their rent on time?
- Can you guarantee that the tenant will not damage my property?
- How are repairs and maintenance handled?
- How often will I hear from you?
- Will I lose control of my property if I give it to you to manage?
- How much will it cost me to have you manage my property?
- How experienced are the property managers at lettingcentre?
- What documents do I need to sign and why?
- Do I require insurance on the property?
- What type of technology does your office use?
How quickly will you find me a tenant?
Unfortunately no one can guarantee an exact time frame, but at lettingcentre a lot of time money and effort have gone into ensuring that we advertise and promote your property in such a way to give it every opportunity to prove itself on the market.
Our experience has shown that one of the biggest contributing factors on the speed that a property rents for is directly related to the market place seeing the asking rent as representing value.
How much will my property rent for?
As with the above question, we can’t always quote the exact dollar amount, but we can give you a range and show you how we arrived at the figure and what similar properties have leased for in the area and why we believe your property is similar.
How will you find me a tenant?
The first place we will go to find the tenant will be our own database of qualified tenants. We have may enquires each day from tenants.
Our own website has become popular for people looking for some where to rent because of it's friendly easy to use layout.
We will place your property on the trademe website, this is one of New Zealand's largest property rental sites
We also use Otago's largest newspaper - The Otago Daily Times to advertise your property. The Otago Daily Times is the largest and most commonly none newspaper in Otago.
Sign boards will be placed in a prominent position at your property. These are our 24 hour sales people.
We can also run open homes or private appointments to ensure no one misses an opportunity to view your property.
How do you qualify tenants? The approval process.
Sometimes the first tenant is not the best tenant for your property. Tenants should be selected on the basis that they meet the following criteria:
- Ability to pay the rent
- Ability to maintain the property.
Prospective tenants must fill in a detailed tenancy application form, which, among other things, requires them to provide personal and rental references and proof of identity.
We have a face-to-face discussion with the person, which gives us a ‘feel’ for them. Long experience has taught us that this is invaluable.
We check our company database to see if the person is an existing or former tenant. We may also contact our local property managers network to verify the tenant’s history.
We contact all referees supplied on the tenancy application form. Our team is trained in the right questions to ask referees.
We run an online check with Baycorp, New Zealand’s leading credit-checking authority.
Further checks can be done with the Real Estate Institute of New Zealand’s National Tenancy Database. This is a register of delinquent or problematic tenants throughout New Zealand and Australia.
Once the property manager obtains this information, they will discuss it with you and together you will choose the right tenant.
When and how will I receive my money?
We forward rent to you twice monthly, on the 15th and at month-end (or the first business day thereafter).
How is the money paid to me?
by electronic transfer from our trust account to your bank account. You receive monthly statements detailing the rent paid for the month and any expenses incurred since your previous statement.
How do you collect the tenant’s rent?
The most common method we use is by direct debit from their bank account on the due date.
Some tenants still prefer to come into the office and pay by cash, cheque or eftpos.
All of these options make it quick and easy for tenants to pay rent and reduce the possibility of arrears.
What happens if the tenant does not pay their rent on time?
Legally we can not take steps to evict the tenant for non-payment of rent until the tenant is 14 days in arrears. This means that on the 15th day, the property manager may issue the tenant with a Termination Notice for the tenant to vacate the property in 14 days time. If the Notice is to be posted, four working days are allowed for postage.
Prior to this time, we would have been speaking to the tenant by phone, sending them letters or visiting the tenant at the property to try and ascertain why they have not paid the rent.
If the tenant does not comply within the specified time on the Notice to Vacate, the property manager will apply to the Consumer, Trader and Tenancies Tribunal to have the tenants evicted.
Can you guarantee that the tenant will not damage my property?
Unfortunately not.
When choosing the tenant at the commencement of the lease, we discuss the applicants on your property & check relevant references. However circumstances can change – relationships break down, children come along, people lose jobs etc.
Three types of inspections are carried out by us to minimise any problems that may arise to do with tenant damage to the property.
The first is the Inventory on the property condition. This is completed by us prior to the commencement of the tenancy. The tenant is given a copy to approve. Any discrepancies are resolved at this time rather than at the end of the tenancy.
Another type of inspection is a Routine or Periodic Inspection. We generally do four of these a year. The purpose of these reports is to see how the tenant is keeping the property, report any repairs or maintenance needed and report back to the landlord on these items and offer solutions. Digital photos can be used in these reports as well as written information.
Lastly, the Final or Bond Inspection is carried out once the tenant has vacated the property. The Inventory on the property condition is taken to the property and the current condition of the property is compared to that on the original report. Allowances are made for reasonable wear and tear to the premises.
If the tenant has damaged the property, e.g. there is a red wine stain on the carpet, you can charge the tenant a reasonable amount for compensation. Take into consideration depreciation and the size of the stain (unfortunately, you can’t claim replacement carpet).
If the tenant disputes this amount, the property manager can claim it from the tenant’s bond. If the tenant again disputes the claim, the property manager will need to meet the tenant at the Tenancy Tribunal to have the matter heard and decided on before a Tribunal member.
How are repairs and maintenance handled?
We normally have an expenditure limit, so we may action small repairs without disturbing you each time.
Major repairs will be discussed with you first. Quotes will be obtained first to ensure the correct work is being carried out, by the best tradesperson, at the best fee.
Urgent repairs outlined in the Tenancy Agreement, such as burst sewers or hot water services, must be acted upon regardless of the whether the property manager has been able to reach you.
You may also nominate your own tradesperson if you have a friend, family member or a regular tradesperson that you feel confident in.
How often will I hear from you?
That will depend on your preference. If you want to hear from your us every time something occurs with the tenancy we can but most owners prefer us to handle situations with their best interests in mind?
You can advise us of your expectations to avoid confusion. Also we can discuss your preferred method of communication – is it by email, your home phone, your mobile?
Will I lose control of my property if I give it to you to manage?
No, if you want full involvement in managing the property, advise us at the beginning of the relationship.
Some owners prefer us to handle everything and the most involvement they want is to receive their rent each month. Other landlords like more involvement in the day-to-day management, such as organising repairs and attending property inspections.
How much will it cost me to have you manage my property?
You need to decide what you want from a property manager. We make every effort to keep our fees as low as we can but do not wish to compromise the service we offer.
Phone us today to discuss your individual needs. It may not be as expensive as you think.
How experienced are the property managers at lettingcentre?
All the property managers at lettingcentre each have not less than five years experience in property management.
What documents do I need to sign and why?
Management Agency Agreement – This agreement is you, authorising lettingcentre to act on your behalf in all matters that are noted in relation to the management of your property. We cannot legally act on your behalf without your signature on this document.
Casual Agency Agreement – This is used if the agency is only going to find you a tenant, not manage the property.
Residential Tenancy Agreement – This is the lease. It is an agreement between you and the tenant to allow the tenant to occupy your premises for a specific period, for a specific amount of rent, with specific terms and conditions. We sign this agreement on your behalf.
Do I require insurance on the property?
It is highly recommended that you protect your rental income.
It is the tenant’s responsibility to have their belongings insured.
What type of technology does your office use?
Each staff member have their own computer and email address.
We also boast one of the most comprehensive Property Management computer software packages available; ensuring all information regarding your investment is available at the touch of a button.
We utilise SMS for communications as many people now prefer this.
We utilise digital Dictaphones and cameras.
We make extensive use of the web for information and help for owners and tenants.
BACK TO TOP