Aside from those who operate as part of a licensed real estate agency, property managers in New Zealand are largely unregulated. While this promotes
a culture of consumer choice, the lack of uniformity in service delivery standards can cause landlords more headache than what a management package
is worth. A good property manager is a valuable asset to your portfolio, a bad one is the first step into the nightmare scenario no landlord
wants to fathom.
Related: Vesna Wells – Investing in a property manager
A lack of an independent body providing sanctions and oversight over the property management industry means that it is up to individual landlords to hold
their property managers accountable. In this market, no landlord can afford to be a passive customer. So how do you make sure you have
the absolute best candidate looking after your properties and how do you maintain a good working relationship with them?
Related: NZ Herald – Property managers a risk, say critics
Role clarity
A lot of times when you first sit down with a property manager, you will find yourself being asked many questions. Where is your property? What
is the rent level? What are your preferred types of tenants and tenancies? And so on. This is a fact gathering exercise to help the
property manager gauge your service requirements. But the barrage of questions can often cause role confusion which can result in you walking
away from the interview feeling disempowered.
So before you start shortlisting potential managers, make sure you are aware of your role to the landlord-manager dynamic. Once engaged, the property
manager becomes...
