Property managers can help you grow your property portfolio and ensure your properties remain successful, profitable, passive investments. They handle day-to-day tenant concerns and the administration details of your property and tenants so you don’t have to deal with the stress of managing properties.
But how passive is too passive? Here are the key times your property manager should be contacting you so you stay in the loop about your rental property.
After Property Inspections
Your property manager should be conducting a property inspection for your Wellington residential rental property every 3 months, plus again at the beginning and end of tenancies. After each inspection, your property manager should then inform you about the condition of the property, and what repairs or improvements need to be completed.
After we complete inspections, we always email our owners an Inspection Report notifying them about the property’s condition, and any maintenance issues that require attention. In the report, we also outline recommendations for any cosmetic improvements that could help increase the property’s rental income. Not only do we email this report to our owners, it’s also available online through their Owner Login to our Quinovic Property Management System.
If A Rent Arrear Occur
Arrears can occur to any property, because even seemingly perfect tenants can stop paying rent for one reason or another. The fact is, your property manager shouldn’t hide from you when your tenants owe rent arrears, and should keep you informed throughout the entire process of receiving the rent arrear from tenants.
To maximise the owner’s cash flow, every morning before 8:30am our team check on the rents received. This way we can identify rent arrears within hours of expected payment. If arrears are identified, that same morning we follow our arrears well-trusted process to get the payment to our clients as soon as possible. After we first contact the tenant about the arrear, we immediately inform the owner that their payment will be late, and when we expect the payment will be received.
Monthly Financial Statements
Is your property manager emailing your Monthly Financial Statement to you on the first few days of each month? Are you finding yourself needing to ask for it because it’s late?
We understand how important it is to keep our owners in the picture. Like clockwork, at Quinovic Kent Terrace as property managers we provide our owners their Monthly Financial Statement on the first few business days of every month to keep them informed about their investment property. They can also access these reports any time during the month using their Owner Login to our Quinovic Property Management System.
A successful investment requires efficient management to produce a constant, reliable income that grows over time. If you’re worried your current property manager isn’t doing a great job, take a look at our latest ebook.
Our latest ebook shows you:
How to identify a poor property manager
How to know a property manager is the right fit for your Wellington investment property
The tasks a good property manager should fulfil to efficiently manage your property
How a property manager can maintain & increase your rental income