Managing Rental Properties – How to Achieve Zero Rent Arrears
Every day we get enquiries from people investing in residential real estate wanting to have their properties looked after and more specifically have the rent paid on time every time. I recently spoke with an owner, who had managed his own properties for several years and had several thousands of dollars in rent arrears that he had been unable to collect? And I mean rent arrears of more than $50,000 just for one property! .Why? He and many other people who manage their own rental properties had no system or skill when it came to insisting rent is paid on time every time. Tenants and especially long term tenants can have private landlords wrapped around their little finger with endless reasons for defaulting on rent payments. Many of these tenants have enjoyed low rents for long periods because landlords are also reluctant to increase rents. Why! They dont want to lose a tenant?? Why would you keep a long term tenant who pays under market rent and defaults on rent payments? The answer – because you are not a professional residential property manager with proper systems and processes to deal with every aspect of managing your property. Regarding rent collection and market rents, at Quinovic Property Management Parnell we are very proud of our record. We currently have zero rent arrears and all of our rents are at or above market. We review rents constantly and apply increases at appropriate times. For more information on what professional residential property management can achieve for you to maximise the return on your residential property investment. Call David Vinsen or Mary Vinsen for a rental appraisal and residential property management proposal. Rental property in Auckland is in demand!
Contact us Mary Vinsen & David Vinsen Quinovic Residential Property Management Specialists Parnell.