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Easy rentingCentury 21 By the Lake Property ManagementLicenced Agent 2008 REAA   We are very excited to be able to offer y...
What if you are managed with anothercompany and want to change?We will grant you a three (3) month exemption of fees to tr...
Our aim is to focus on:-            • Optimizing Income ( higher rents ) ( lower costs )              ( avoiding damage ) ...
Finding tenants
•
Sourcing and selecting tenants for your property  •  • Selecting tenants for your property can become a time    consuming ...
Here is what our Senior Property Managers can do for you!                 •   Condition report- converted to an action pla...
We would like to introduce Tararua Realty Ltd as your next potential property manager.Property Management is the fastest g...
We will take on a problem or too , but need the landlord to assist us when asked.7 ) Clear end of the month settlement sta...
Rentals Management Menu                             Gold   Silver   Bronze   Specific to youRegular InspectionsAsset analy...
Finding tenantsColin Trevor Bailey55 Buick CresPalmerston NorthDear                              Our letting service is at...
realestate@inspire.net.nzIf this service interests you please return by email or fax
What could possibly gowrong?
Tararua PropertyManagement    1. Mission StatementRespect the tenants as our customers, they pay the bills.Assist Landlord...
When we are at arbitration unless we get full payment , we ask for eviction .We will consult with you the landlord and ask...
4. What is the maximum bond that a landlord can charge?5. What is the maximum period that a tenant to be in arrears for th...
You know: the varying systems that all these companies applied, we have been able to take the bestfrom and adapt them ours...
It is a good idea to avoid highly personalized furnishings and colour schemes in order to appeal to abroader range of tena...
TARARUA REALTY RENTALS HAVE THREE MAIN RULESAfter watching the issues that Housing Corporation is having with troublesome ...
© copyright REINZ 2005REINZ RESIDENTIAL MANAGEMENT AUTHORITYTHIS AGREEMENTMade this ……………………………day of…………………………… 20…………BET...
h. To deduct from rent proper charges and reimbursements/disbursements for moneys expended on behalfof the Owner.i. To ens...
9. Managers Responsibility and Restriction on Liability9.1 The Manager shall have the duty to carry out the responsibiliti...
Address…………………………………………………………………………………………………………………………Email …………………………………………… Phone……………………….. Fax……………………………Bank Account D...
Our Fees]Due to increased costs we are finding it harder to maintain the existing level of service to ourclients. To avoid...
Property Services- Ask us about:   •   Improving your rental returns   •   Insurance   •   Finance   •   Chattels valuatio...
Empty rentalsParticularly hard times of the year to fill rentals are winter andChristmas break     Cold Homes in winter ar...
Ideal OutcomesArrears as 5% of PortfolioAll 21 days in arrears clients , to have an eviction order in place.All tenants in...
We manage less YOU get more !How can Tararua Realty Ltd increase your return on investment?1 ) Increasing rent if legally ...
6 ) Our fees are lowWhile our competitors can be as high as 10% of the rent we believe that by offering quality servicesat...
Professional Management of your Property                              LET US BE PART OF YOUR TEAMRentals Advertising  Prop...
Managing Property          Details of property to be rented whether it is a casual letting or full management. (As above  ...
Will the tenants look after your property if you do not manageit?We provide written references if the tenants leave the pr...
In addition to the initial and final inspections with a change of tenants, we also carry out 3/6monthly visual inspections...
Property Services- Ask us about: -    Improving your rental returns    Insurance    Finance    Chattels valuations    Prop...
Details of Property to be rentedFax (06) 355 5531                                                       email: rentals@ins...
Pets allowed                                             (Cats)             (Dogs inside / outside)                       ...
4. Rent shall be paid by the tenants in advance.    5.      Rental Payments to Property Owner               6. Within the ...
Signature of Agent on behalf of Tararua Realty Ltd ____________________Date ____________I / we have read, understood and a...
them.Rhonda Townsley                                          Phone (04) 9777 458                                  We mana...
Did you know Tararua Realty Ltd MREINZ offers a comprehensive and professional propertymanagement service.Rental Collectio...
Tenants pay the rent money to our trust account, which is entirely separate from our office accountand is audited under th...
Our Property Managers are able to act on your behalf, to argue any adverse decisions and be able tomake the necessary deci...
Professional Management of your Property                                    LET US BE PART OF YOUR TEAM     Rentals Advert...
We state that rent is paid 1-2 weeks in advance. 1 weeks rent is charged as a letting fee,plus 3 weeks Bond.As a general r...
LTDDetails of Property to be rented                                       (Please complete all sections and CIRCLE Options...
Full Property Management FeesFor full property management services, our professional fee is 7.5% plus GST inFeilding and P...
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
Condition reports , 7yr maintenence planner , curbside valuations
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Transcript of "Condition reports , 7yr maintenence planner , curbside valuations"

  1. 1. Easy rentingCentury 21 By the Lake Property ManagementLicenced Agent 2008 REAA We are very excited to be able to offer you this letting and management service. We have some very capable staff and computer programs that can assist you. I the owner of century 21 have rental portfolios ourselves; so understand intrinsically what and how keeping on top of things and dealing with people, rents and property is all about. Accurate and detailed paperwork is crucial. Problems in Property Management arise when you do not use the powers of the law, but rather try to take the law into your own hands or get behind in your checking systems. We understand the law and have those checking systems in place. Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently. The Property Management team at Century 21 are conversant with the necessary aspects of this act as well as the workings of the Tribunal. Our computer system reconciles all rental payments and immediately alerts us when a tenant misses a payment. We will then gently remind them with a written notification of their responsibilities to keep on top of their rental payments. Handing over the responsibility of gathering in the rent to Century 21 eliminates one of the biggest headaches for many property investors. By alleviating you of the responsibility of this task, we can provide you with peace of mind, without having to think about whether the rent has been paid.
  2. 2. What if you are managed with anothercompany and want to change?We will grant you a three (3) month exemption of fees to transfer .How much better than that can we do?What if you manage yourself and want to getit managed?Simply give us a call and we will get underway
  3. 3. Our aim is to focus on:- • Optimizing Income ( higher rents ) ( lower costs ) ( avoiding damage ) • Minimize vacancies - We have strategies in place to do this . Sometimes it revolves around heating in winter. • Maintain the property • Focus on capital appreciationThings will go wrong, we handle those for youTenants behave badly , or strangley we handle those for youLandlords can be their own worst enemies sometimes,sometimes they just need to get out of the way, and be themogul they are supposed tio be , without all of the nitty grittymonor management issues.Don’t sweat the small stuffIf you can’t afford a property manager , you shouldn’t beowning property.
  4. 4. Finding tenants
  5. 5.
  6. 6. Sourcing and selecting tenants for your property • • Selecting tenants for your property can become a time consuming and sometimes-difficult process to handle on your own. Nowadays because of numerous unforeseen problems, many property owners prefer to have the selection of the tenants handled professionally by a Property Management Company • We endeavour to select your tenants from more than one applicant. However, this may not always be possible. But we will always match the tenant to the property as required. • All our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from Century 21. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this way we are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required. • We state that rent is paid 1-2 weeks in advance. 1 week’s rent is charged as a letting fee, plus 3 weeks Bond. • As a general rule we do not allow dogs unless specifically allowed on the property if the property suits this. In some instances tenants with dogs will pay a higher rental. In this case dogs should not be allowed inside. • Century 21 also maintains a register of prospective tenants and landlords who have contacted us in regards to property rentals.
  7. 7. Here is what our Senior Property Managers can do for you! • Condition report- converted to an action plan 7 Year maintenance planner (surcharge of 1% premium on standard commissions). This may require a "sinking fund account " from you that we collect and HOLD on your behalf • The property manager details the current state of repair and maintenance with particular emphasis on • Cost estimates • Impact on Investment returns • Impact on Capital value • Sale & Re-investment advice • Receive your instructions after the above adviceAsset Assessment – (surcharge of 1% premium on standard commissions) our Senior Property Managers in conjunction with the sales staff can do an annual curbside valuation and offer advice. • A strategy could be to keep or hold • Sell the most improved capital gain and replace with a "potential" capital gain or higher income property • Improve the property by way of heating , garaging or decor and improve rent • Advise how to approach mortgage brokers or bankers to improve the property • Refinance the most improved capital gain • Sell off the worst performing assets • Or sell prior to major maintenance work requirements ( Some people will sell a new car before the tyres need changing ) • Advise on any subdivision potential • Advise on any rebuild options, such as spec builds or new flat builds after demolition or removal. Higher depreciation and rents may surprise you. • Advise on any re-zoning potential. • A constant re assessment of your rental position is always advised , as part of our regular property management , include our sales team in this programme process .
  8. 8. We would like to introduce Tararua Realty Ltd as your next potential property manager.Property Management is the fastest growing division in our business in both the Manawatuand Southern Lake Taupo , as Landlords seek to obtain a property manager with lower feesand extra services to insure the value of their return is consistent.We manage less YOU get more !As we launch a new phase in our business it is pertinent that we continue to seek newlandlords wanting to obtain a higher return on their investment. So how can Tararua Realtyincrease your return on investment?1 ) Increasing rent if legally able to do so.At present the average rent at Tararua Realty is $260 per week and our lowest rent is $140.00per week.So what does that mean ? We diarize and schedule regular rental reviews2) Protecting your property with video inspectionsEverybody knows that written inspections are not enough if your have a tenant that hasdamaged your property. A video inspection gives you a clear advantage in any situation withfirst hand evidence that damage may have been caused by the tenant.So what does that mean ? It means with good tenants we have time to look at more importantissues like what if we improve the property , can we obtain more rent ? You do not want toread that the wallpaper is ripped on every inspection ( You know that ) The Video inspectioncovers the beginning and the end inspections . If we spend $10,000 at 10% interest will weget $20 more a week to cover it ? And what if we spend $5,000 and get $20 a week thats asurplus , improves the property , gets better tenants and the better the property , the better thetenant , the better all round.3 ) On time payment of rent.On the 1st of every month we pay directly into our Landlords bank account the rent collected.In some cases we pay our rents fortnightly to coincide with our landlord’s mortgage. This canmean a huge interest bill savings too!So what does that mean ? It can mean mega dollars saved in interest over time , it really can.And with more regular payments you get to see more quickly if an issue arises with non rentpayments . One months non rent payment and then not hearing from the property manager ,well hello. If the 1st or 15th fall on a weekend we pay you BEFORE the weekend , not after.4 ) Over due rent.Through experience we have found that the only way to get over due rent from tenants is toact immediately upon failure to pay. Each day we know which tenant is going to pay rent andif they fail to pay into our account we phone contact then or go and see them at their house orcall them and ask the question. If tenants are let go one week the likelihood that the next rentpayment will not be paid is extremely high. This is why we are quick to act on non paymentof rent.So what does that mean ? It means we will drive to the property and knock on the door !5 ) Tenant ScreeningThis is probably the most important factor in the tenancy equation and we have been knownto go to great lengths to ensure that the tenant going into your property will be the right onefor you. We currently do reference checks and credit checks . It is better to do the groundwork early on rather than having a problem later.So what does that mean ? A better tenant that obeys the guidelines 1. Pays the rent 2. Keepsthe place tidy and looks after it 3. Does not disturb the neighbours6 ) Our fees are lowWhile our competitors can be as high as 10% of the rent we believe that by offering qualityservices at a lower rate we obtain the best properties and the best tenants. I mean the betterproperties dont need as much managing , as these attract good tenants it is a win:win. Wehave several different packages with the lowest being 6% +GST for multiple properties. Itmay not sound a lot but you add up a year of property management fees and at the end of theyear you could be saving hundreds of dollars, and for some clients more.So what does that mean ? We reward good landlords and good properties with a cheaper rate.
  9. 9. We will take on a problem or too , but need the landlord to assist us when asked.7 ) Clear end of the month settlement statementsWe try our best to ensure that the end of the month settlement statement can be understood. Itis clear that some settlement statements can be very hard to understand. We say “If you don’tunderstand our settlement statements call us and we can explain it so you can”.So what does that mean ? You understand the charges8 ) Small number of properties with quality tenantsWe manage less YOU get more of our timeIt is our mission statement not to obtain massive amounts of properties under management.We have found to manage properties successfully there has to be an average of 50 propertiesper property manager. Service is the key word and management can only be obtainedsuccessfully when the property managers are limited to a small number of properties so thatorganization is maintained.So what does that mean ? We can dedicate more time to your property , we are unclear howotherwise as property managers we dont become little more than rent collectors . We need tobe managers and asset advisors also.9 ) TradesmanWe undertake to obtain quotes on all work unless it is an emergency. And before work iscarried out we insure that you are well aware of the process that will take place. We do notalign ourselves to any one tradesman. This way we stay as mutual as possible. And when aproblem arises with the tradesman we can act without relationship concerns.So what does that mean ? Quality work done at a good price , with little fuss andinconvenience to yourself and the tenants.10 ) Loyalty PackageWhen you decide to sell your investment property we offer our landlords a reducedcommission structure in return for there continuing business. In some cases you will saveyourself thousands in real estate fees.So what does that mean ? If you are planning to sell , then our property management feesmay may not cost you , as well as Our fees being low, You save on the sale also.Here you have 10 reasons why you should consider us as you next property manager, so donthesitate to contact us and we will send you our property management agreement for yourconsideration. Thank you for taking the time to read our news letter.A return fax or email and we can get working for you!Yours faithfullyTararua Realty (MREINZ)
  10. 10. Rentals Management Menu Gold Silver Bronze Specific to youRegular InspectionsAsset analysis-What todo ? What advice woulda senior real estate agent7 investor give7 yr Repair registerAnnual valuation,comparisonSource tenantsTenants Credit ChecksTenants ReferenceChecksTenants Inter industrychecksDaily rental checksArrears follow upsMediationCourt apperancesVideo inspectionsDigital Camerainspections
  11. 11. Finding tenantsColin Trevor Bailey55 Buick CresPalmerston NorthDear Our letting service is at No Cost to you 108 Linton Street, Palmerston NorthDo you need a rental assesment ?I assess the market rental for the above property to be between Buyer EnquiryWelcome From $210,000 and Buyer Enquiry Welcome From $210,000 per week-Let us have a look.Where do we advertise?We advertise on www.realestate.co.nz , we place for rent signs on the fence and of course we getpotential tenants enquiring all the time , from other rentals so can refer them to your property.We can advertise on trademe.co.nz , but do chare $100 for this.Casual Letting Services Who Pays?Tenants pay one weeks rent + GST for this service.How Do We “Vet” Applicants• Tenant selection is in agreement with the landlord.Tenants fill in a Tenancy Application Form and Questionnaire and you get to see thisbefore you decide. Some owners like to meet the tenants. Some like to “see” where theyhave lived in the past, get references, OR go and see them where they are now!We handle the paperwork• Preparation of the Tenancy Agreement with the tenant is our responsibility.• Arrangement of the rental payments, to be paid into the landlord’s nominated account forthe first payment and subsequent payments, is done for you.• We handle the bond payments to the Tenancy Bond Division.Under this service we do not arrange for repairs or emergency maintenance or any missedrents . The tenant should deal directly with the property owner from then on ; Unless youchoose us to then manage the property.For us to take full management responsibilityOur fees are 8.5% + GST in PN and Feilding and 10% + GST in country village and outlyingarea. If you work that out ; perhaps adding $20 a week to the rent will go a long way to paying forthis service.In the meantime let us find you a tenant and go from there.Yours SincerelyTim Kearins ,Century 21 By the lakeLiceneced Agent 2008 REAAWk 06 355 55 22 Fax 06 929 4973Work: 06 355 55 22, Mobile: 0274495547
  12. 12. realestate@inspire.net.nzIf this service interests you please return by email or fax
  13. 13. What could possibly gowrong?
  14. 14. Tararua PropertyManagement 1. Mission StatementRespect the tenants as our customers, they pay the bills.Assist Landlords - Optimize income, minimize expenses, focus on capital growth, buy more houses, and make it easy andstress free2. Our Communication with landlords If you the landlord want to know whats happening and send an email, a voice message or phone. We will get back to you with a reply as soon as we psychically can. At worst we will have a reply to you that day. Only smiles . We dont want complaints .Simply put some public view property managers as lazy, we NEVER want that sentiment placed against our names . We will be viewed as proactive3. Our Arrears Policy • 2-3 days late , a polite phone call as a reminder • 3-8 days a 10 day letter to remedy is sent, (ask the landlord if they would like to spend $20 on court) • 10 days late is a court application automatically • 21 days late is an application for immediate eviction. (We can add this to the 10 day letter, when we get the mediation hearing.4. Our Enforcement & Collection Policy21 days in arrear we apply for immediate eviction ……in ALL CASES .
  15. 15. When we are at arbitration unless we get full payment , we ask for eviction .We will consult with you the landlord and ask what you would like us to do.We can arbitrate to get the arrears paid off, if that is possible.Even if we can get the rent some landlords still want the tenants out. One strike and you are out sort of thingWe prefer to not act on your behalf without knowing what you would like us to do. In that circumstance.After 21 days in arrears though we can apply for an eviction.Do you want us to evict or collect the arrears over time?We use the national tenancy blacklist database and Veda collection agency.We also use the court bailiffs where possible and will use them to seize assets or vehicles if we can, our tenancy applicationform asks for a vehicle registration number . For $2 we can search this to match the records .5. Our Relationships with tenantsThey like us are part of the community. We provide on yours and out behalf a gift basket when they move into the propertyPUBLIC RELATIONS; NO.1 CHART TOPPER 1. We provide a new tenant with a tenants basket ,mainly free stuff from council, businesses, and brochures like you would get when you go to a motel 2. We provide a letter telling them the rules and guidelines. 3. Add: Maps, What to do in the area, Pen, Long life milk, home made jam, chux cloth, and toilet paper etc this might cost $20 a plate, but are thoughtful things that are required for the first night in the new home 4. Role reverse; what would it feel like getting a plastic plate wrapped in cellophane with a bunch of small things in it saying “Dear ……………………. Welcome to your new home from all of us at Tararua Realty and everyone signs it. 5. The tenant is no longer a second class citizen 6. This is a good way to get the relationship off on the right footing.We also Provide all outgoing tenants a reference un-solicited (those who qualify). Who have paid rent kept the property tidy andwas an asset to the neighborhood. . We tell tenants who begin to become an arrears problem, about our references, So that ithelps them with the next property, Helps when applying for credit and most people will move close, it helps securing the nextproperty also. No references, no property!6 Our tenant selection policyAll our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from TararuaRealty Ltd. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this waywe are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required.We state that rent is paid 1-2 weeks in advance. 1 week’s rent is charged as a letting fee, plus 3 weeks’ rent as a bond.As a general rule we do not allow dogs unless specifically allowed on the property if the property suits this. In some instancestenants with dogs will pay a higher rental. In this case dogs should not be allowed inside.We also at times will talk to the local policeHow Do We “Vet” Applicants?Tenants fill in a Tenancy Application Form and Questionnaire and you get to see this before you decide. Some owners like tomeet the tenants. Some like to “see” where they have lived in the past, get references, OR go and see them where they arenow!7. Ask us aboutOur Video InspectionsOr if you want to know1. How much notice must a tenant or a landlord give to vacate2. How much notice must the tenant or landlord give to vary the rent?3. What is the difference between fair wear and tear and negligence?
  16. 16. 4. What is the maximum bond that a landlord can charge?5. What is the maximum period that a tenant to be in arrears for the landlord to proceed formal eviction proceedings? (21 days).6. Can you briefly explain the steps involved in a formal eviction proceeding.7. Can you briefly explain the steps involved for rent arrears?8. Can you briefly explain a works order from the tenant or the landlord?9. Can you briefly explain how you go about Collections?8. Repairs and MaintenanceAll of our Tenancy Agreements clearly state the individual responsibilities of both the landlord and the tenant in regards to theongoing repairs and maintenance of the rented property.We provide the tenants with a Rental Guideline.As part of your management contract we will arrange for any necessary repairs and maintenance up to the agreed value. Thesecosts will then be deducted from the rents received and will be clearly shown on your monthly statement. Tararua Realty Ltd,using local trades people, can arrange repairs and maintenance.Other payments for such items as rates and insurance can also be made directly from rentals to alleviate the need for you toarrange separate payments.Landlord Insurance9. Office Hours We are not open on Saturdays , but Tim can be reached on 0274 495 4710. Who are weWe have some very capable staff and computer programs that can assist you. We have rental portfolios ourselves; sounderstand intrinsically what and how keeping on top of things and dealing with people, rents and property is all about.Our staff are constantly up skilling and attending property management courses .Go ahead ask them what they are studying now!
  17. 17. You know: the varying systems that all these companies applied, we have been able to take the bestfrom and adapt them ourselves to the Tararua Rentals. We believe our back room, experience andsystems are improving all the time for you. We currently employ eight managers, some of whomhave had 18 – 25 years experience and we do regularly discuss our systems.For example: • Simple things like photocopying the keys when tenants took them and signing for them. • Aggressively working on vacant homes and • Helping existing landlords buy more properties.Included in this newsletter: • Rent Reviews • End of year for most 31st March 2009 • Mr English reassures property investors • Advertising a vacant homeRENT REVIEWS60 days written notice must be given and we cannot increase rent within the first 180 days.We have a very interesting realestate market. Property values have eased, interest rates have fallen,new house buildings have lessened and rents are slowing increasing. Have a well presentedproperty gives the best opportunity to attract the best tenants.A recent case was where we had a ¼ acre home on the edge of town, recently wallpapered with agood sized garage. The owner allowed a dog; we basically had a tenant bidding war on thatproperty.Have the property professionally cleaned, have the gardens tidy, lawns mown and carpetsprofessionally cleaned between tenants. Our agreements state that the tenants are to professionallyclean the carpets when they leave. We have negotiated a large discount with Phoenix carpets thatwill do a small to medium house for $90.00. The worst job they had to do for us cost $260. Atattractive property attracts a good tenant who will look after it.Raising the rent small and often: We find some landlords fail to visit the rent review area foryears. A $10 per week increase is after all $520 per annum, and may well cover the next plumbersaccount or kids tuition.Improve the heating:Winter is approaching and it is a time when we often lose good tenants because of cold homes. Wehave found that if we ask a tenant if they would be happy paying $20 - $30 more a week if we havethem a lock up garage or a heat pump, the usually say yes. If we can obtain finance at 6% and putin a heat pump at $1700 plus a garage at $7000. Interest on that is approximately $522 pa or $10per week. A net gain. Tenants may say we only want a heat pump. Interest on that is $102. Thatis $2 per week. (on the home loan) Benefits are huge. The home is then looked after in respects tomoisture or condensation, the tenants will pay more rent, stay longer, the home is worth moremoney and you get to depreciate the heat pump. We recommend this.The Seven Year maintenance planner and sinking fundsAs part of our regular inspections we are offering a maintenance plan, we will conduct safetychecks and audits and regular maintenance inspections on focused areas for instance the reputing ofwindows, paint the south wall. By being able to ask a roofer to inspect six roofs at one for instancethis will create a savings to those that require or use the service. Getting twenty gutters cleaned atonce or 20 lifestyle water pumps vacuum checked will be a savings.Use neutral and soft furnishings
  18. 18. It is a good idea to avoid highly personalized furnishings and colour schemes in order to appeal to abroader range of tenants. Keeping colors light and neutral is a good ides, because it makes thespace feel lighter and larger. Stay away from cheap vertical blinds that blow and break whenwindows are open. While they are cheap to install they dont help with the presentation of theproperty and need to be replaced sooner. Likewise, reconsider the type of carpets or flooring youwill be installing. It should be tough enough to handle a lot of wear and tear, but still presentable.Some of the more modern office carpets are worth considering.Make sure things workIts no good having a beautifully presented dwelling if a tap doesnt work. Ensure that all the basicfacilities such as hot water and plumbing are functioning well. Check that all doors and windowsare properly maintained and have secure locks. Ovens, kitchen elements and refrigerators shouldalso be fully functional and well cleaned. Consider getting these checked and serviced on a regularbasis. By ensuring that your property is in good condition through regular maintenance, you avoidcostly repairs further down the track.ENGLISH REASSURES PROPERTY INVESTORSProperty investors who fear the new government may be tempted into raising more tax from themcan breathe easy.Minister of Finance Bill English says no changes to how property is taxed are on the agenda. Therehas been a fear the government might aim to raise some much needed extra cash by looking as thering-fencing of losses from property investments.The last government looked at the idea – and calculated it would raise between $400-$600 million ayear in extra revenue if it did so.English told Parliaments finance and expenditure select committee the issue is not a priority.Asked by the Green Party co-leader if he would, amongst other things, uses the current economicdownturn to change the tax laws in order to prevent another property bubble, English said no."I dont think there will be a housing bubble for some time because I dont think there will be thecredit to fund it."And look, Im sure there will be debate over whether we should have deductibility of interest andall that sort of thing. But at the moment its just not our highest priority".On the outlook for the housing market, English told MPs it is one of the three areas of risk facingeconomy (the others being banking stability and export prices).He is "pretty hopeful" New Zealand will not et into the sort of negative spiral of lower asset prices,higher unemployment, and then the assets held by banks become more of a credit risk.ADVERTISING A VACANT HOMEThere are a large number of property vacant at anyone time 200 – 300 in P.N and Feilding. How doyou ensure that when we find a tenant they are some of the best possible for the property? After allhow does a good tenant find your house amongst the 200 – 300? What we have been doing latelyafter advice from one of our landlords (you are part of our team to) is to advertise on fiveconsecutive nights in the paper along with the "For Rent" sign and web exposure. There is a cost tothis $50 - $70 that we do need to on charge to you the Landlord, but we believe benefits you in twoways. It is more likely to find a good tenant who may stay longer and ensures the home is vacantfor as little time as possible (if at all). Its again a system that owners would adopt if they weremarketing their own property rather than what we see; columns in the paper from agencies. Thecolumns do work for us also, and we will still include the property in that, but we are offering theextra option for you. We charge the cost $50 - $70 depending on how fancy the wording is againstthe first weeks rent.
  19. 19. TARARUA REALTY RENTALS HAVE THREE MAIN RULESAfter watching the issues that Housing Corporation is having with troublesome tenants I thought Iwould reiterate our three main rules: 1. Pay the rent. 2. Keep the home tidy and report any damage or wear and tear. 3. Dont disturb the neighbours.If they fail to do this we can: • Send a ten day letter to remedy. • Ask for immediate eviction if they are three weeks behind in rent or in the case of being a nuisance to neighbours we can send a 60 day notice of eviction.Housing Corporation seem to have been "letting loose" their trouble tenants into the wider tenantspool and unfortunately some private landlords are getting caught with these new tenants, who startout well, but can revert to "nuisance type" when friends and family visit.When confronted with these (small but dominant) ex housing corporation tenants systems need tobe in place and more regular inspections conducted.I have been called in by some private landlords after they discover what has gone on.We do credit checks, reference checks and our staff has a local knowledge of who these peoplecould be.
  20. 20. © copyright REINZ 2005REINZ RESIDENTIAL MANAGEMENT AUTHORITYTHIS AGREEMENTMade this ……………………………day of…………………………… 20…………BETWEEN …………………………..…………… (The Owner)AND Tararua Realty Ltd (the Manager)BACKGROUNDThis Agreement gives the Manager the exclusive right to manage the tenancy premises referred to in theSchedule (which shall form part of this agreement) for a minimum periodof ………6months……………… from………………………and monthly thereafter.THE PARTIES AGREE:1. Owners obligations1.1 The Owner appoints the Manager to act as their exclusive agent to manage the property, referred to inthe Schedule.1.2 In consideration of the services to be performed by the Manager the Owner agrees to pay theManager the commission set out in the Schedule and such other charges specified in this agreement,including any charges and/or adjustments to the management services changes that may arise from time totime following a review.1.3 The Owner authorises the Manager to recite their name as principal on any tenancy agreement theManager may prepare and any other relevant document the Manager may sign on behalf of the Owner.1.4 The Owner acknowledges that with this appointment the Manager will act as if the Manager was thelandlord and to do all things on the Owners behalf necessary to manage the property effectively.1.5 The Owner agrees that the information the Owner supplies to the Manager in this agreement andSchedule is correct.2. Authority of Manager2.1 The Owner authorises and instructs the Manager to do the following:a. To advertise for tenants at the Owners expense, and after checking the background and credit worthinessof the successful applicant to select the most appropriate tenant on merit;b. To rent the property to the most appropriate tenant and if that tenancy should come to an end for anyreason to re rent the property.c. To use a written tenancy agreement.d. To rent the property on a fixed term / periodic tenancy basis.e. To conduct and record property inspections at the commencement of each new tenancy and at regularintervals throughout each tenancy no less than … 3……… times a year.f. To collect a bond from the tenant equivalent to ……3………weeks rent and to pay it to theTenancy Services Division of the Ministry of Housing and at the conclusion of the tenancy to sign the bondrefund form and refund to the tenant such sum as the Manager deems fair and reasonable.g. To collect rental payments as and when they fall due for payment and to take whatever steps are requiredby the Manager to follow up and compel payments of unpaid rent.
  21. 21. h. To deduct from rent proper charges and reimbursements/disbursements for moneys expended on behalfof the Owner.i. To ensure compliance with the terms of the tenancy agreement and the provisions of theResidential Tenancies Act 1986 by taking whatever steps the Manager deems appropriate. In the name ofthe Owner to write letters to the tenant; arrange for the property to be cleansed and/or decontaminated; toserve ten day notices upon the tenant; to file applications to the Tenancy Tribunal to attend mediations; toattend hearings of the Tenancy Tribunal and on behalf of the Owners to receive and act on the orders.j. To conduct a review of the level of market rent regularly.k. To negotiate with contractors and supervise all remedial or maintenance work at the tenancy premiseswhether that work is occasioned by the tenant or not.l. To review and if necessary adjust, from time to time, the management services charges payable under thisManagement Authority.3. Repairs3.1 The Owner authorises the Manager to spend up to the equivalent of one weeks rent for all repairs andmaintenance to the property. However, the Manager shall not be required to obtain the Owners consentwhere:a. The repairs are urgent and necessary;b. The failure to complete the repairs might endanger the tenant or any occupant, orc. The failure to complete the repairs might cause the premises to no longer comply with any code or lawsapplying to the premises;d. The failure to complete the repairs may risk damage or exacerbate damage to the premises; ande. The Tenancy Tribunal shall make a Works Order and there is a limited time to comply with the WorksOrder.4. Accounting and Statements4.1 The Manager shall account to the Owner for the rental received monthly and all payments made on theOwners behalf within …7…..…….days of the close of the preceding month.4.2 In the event that the disbursements shall be in excess of the rents that are collected by the Manager theOwner agrees to pay such excess promptly upon demand.4.3 The Manager is instructed to credit any applicable credit balance direct to the account details as per theSchedule.5. Warranty as to Ownership or Authority as Landlord5.1 The Owner by signing this Agreement warrants that they are the Owner of the rental premises or areauthorized to enter into this management agreement and has or have authority to appoint theManager.6. Resource Consents and Building Consents6.1 The Owner warrants that the property has all relevant building and resource consents and complies withall council requirements as to building, including town planning requirements, health and safety requirementsand fencing of swimming pool requirements.7. Insurance7.1 The Owner warrants that they will ensure the property is fully insured at the commencement of thetenancy and shall remain fully insured during the term of the management authority.8. On the Market for Sale8.1 The Owner warrants that the rental premises is not on the market for sale and will not be on the marketfor a minimum of six months.8.2 If the property is on the market the Owner warrants that the Owner has given the tenant(s) the requirednotice under s 47 of the Residential Tenancies Act 1986.8.3 Both parties the manger and owner acknowledge that the property is on the market and the manager willgive the tenants required notice.Delete 8.1 and 8.2
  22. 22. 9. Managers Responsibility and Restriction on Liability9.1 The Manager shall have the duty to carry out the responsibilities set out in this agreement and shall carryout those duties to the standard of care of a reasonable property manager.9.2 The Manager undertakes to use best endeavors to ensure continuity of rental.9.3 The Manager shall take due care in the performance of their contractual obligations but does not warrantand is not liable for any default by the tenant in the payment of rent or any other charges, causing damage tothe property or the observance of other terms of the tenancy agreement.10. Property Furnished10.1 If the property is to be let furnished, the Owner agrees to prepare the chattels list and deliver it to theManager before the letting.11. Grounds and Pool Maintenance11.1 The Manager shall ensure that any grounds or pool are maintained to a reasonable standard at alltimes.12. Landlord Protection Insurance12.1 The Owner instructs the Manager to arrange landlord protection cover during the term of themanagement authority.13. Enforcement of Tribunal Orders13.1 The Owner agrees that the Manager shall not be liable to enforce any order of the Tenancy Tribunalusing the District Court civil enforcement system.14. Indemnity Provisions.14.1 The Owner indemnifies and keeps the Manager and any contractors employed by the Managerprotected from all costs, claims, demands, suits, legal proceedings, or loss howsoever arising in the propermanagement of the tenancy premises and to reimburse the Manager upon demand for any expensesincurred in the management of the premises.14.2 If in the Managers sole discretion it may be necessary or proper to reserve or withhold Owners funds tomeet obligations, which are or may become due (including the Managers compensation) then the Managermay do so.15. Assignment15.1 If the Manager intends to assign to another Manager the Managers interest in this agreement, theManager shall deliver to the Owner at the Owners address for service notice in writing naming the intendedassignee and the date on which the assignment will be made and the Owner may then, by notice expiring onthe date of settlement of the assignment or such later date as the Owner shall elect, terminate thisagreement.16. Termination of this Agreement16.1 This agreement shall be terminated as follows:a. By the Owner by the giving of three months notice in writing , but not within the first 6 months (includingemail to an email address) delivered to the Managers address for service referred to in this agreement or toany address commonly and usually used for correspondence or email;b. By the Manager delivering to the Owner at the Owners address for service notice in writing( includingemail to an email address) of any time period being not less than 14 days and not longer than three months;c. If the Manager reasonably believes that there is a clear and present risk of harm to the tenant, incontinuing to live in the rented premises and that risk cannot be immediately abated or removed, then theManager reserves the right to terminate this agreement forthwith by any means of communication availableto them.17. Acceptance of Appointment17.1 The Manager accepts appointment as Manager under the terms of this agreement and agrees tocomply with the Code of Practice for Residential Property Managers and Letting Agents published by REINZ.Signature of Owner Signature of Property ManagerSignature of Owner SCHEDULEAddress of the property……………………………………………………………………………Number of bedrooms………………… Off street Parking Yes / No Number of vehicles……………Pets Pets are / are not acceptable (delete one).The property is available for rental purposes for:Owners Details
  23. 23. Address…………………………………………………………………………………………………………………………Email …………………………………………… Phone……………………….. Fax……………………………Bank Account Details - Bank: Branch: Account No:The Owner is to provide the Manager with a deposit slip.Emergency Contact if the Owner is temporarily unavailableName …………………………………………… Phone…………………….. …. Fax……………………………….Solicitors nameSolicitors firm name…………………………………………… Phone…………………….Fax………………………Address…………………………………………………………………………………………………………………………Insurance Company details including renewal dates and policy numbers:…………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………The grounds and pool maintenance shall be at the Owners or Tenants (delete one) cost.Management Commission, fees and disbursementsOn gross rent collected the sum of 10 % + GSTOn maintenance work completed 10 % + GSTSimply stated 10% + GST Inclusive of all services no hidden fees.On attending mediations the sum of $ + GSTOn attending the Tenancy Tribunal $ + GSTOn completing inspections $ 0 + GSTOn advertising costs of % + GSTAn administration fee of $ + GSTA letting fee of one weeks rent $ incl GSTOn the payment of insurance premiums % + GSTOn the payment of rates % + GSTOn the payment of body corporate fees % + GSTOn the payment of each credit check fee $ + GST(I / we instruct and direct you to recover the letting fee from the tenant under s 17(4)(c) of the RTAAny Special Instructions:……………………………………………………Signature of Owner/sDate / /Tararua Realty Ltd MREINZ11117 Kairanga Bunnythorpe RdRD5Palmerston NorthLicensed agent 2008 REAAEmail rentals@inspire.net.nzPh 06 355 55 22Emergencies A/hrs and Weekends 0274 495 547
  24. 24. Our Fees]Due to increased costs we are finding it harder to maintain the existing level of service to ourclients. To avoid a management fee increase we have had to restructure our ancillary fees. New feestructure is as follows;1. Inspections ( 3 or 6 monthly) $35+gst2. Additional inspections requested by landlord/call outs $45+gst3. Video inspections (Turangi only) $40+gst4. Attending mediations $20+gst5. Attending Taupo Tenancy Tribunal hearings and all related matters a minimum fee of $50+gst (some complex cases may require further charges commensurate with the time involved. Prior approval will be sought)6. Disbursement for minor maintenance and repairs 8.5%+gstThese changes are to take effect from 1st April 2010.Please note your base management fee covers, initial inspections, new tenancies, tenant screening,arrears management, visits to the property for any of these reasons and administration.Should you wish to discuss any of the above please do not hesitate to contact me.
  25. 25. Property Services- Ask us about: • Improving your rental returns • Insurance • Finance • Chattels valuations • Property valuations • Lawns and Gardens • House Minding Services • Minor Works • Repairs and Maintenance • Major Works • House Cleaning • Alarm Installation
  26. 26. Empty rentalsParticularly hard times of the year to fill rentals are winter andChristmas break Cold Homes in winter are harder still Tenants tend to spend a bit over Christmas period and then it is tough to save up a bondHeres what we can doIf we manage the Property we will waive any letting feeWe place your property on www.realestate.co.nz No chargeWe place the property on www.century21.co.nzWe can place For Rent signs on the fenceAdvertise the rental like you would when selling a home describe it better than a one line ad in the paper. For from between $50-$70 we can facilitate a 5 ads for the cost of 3 in the rentals colum of the manawatu Evening Standard , We take all enquireies andfacilitate the letting for youArrears PolicyDo you need a hand ?Rent must be in advance!Day 1 Rent missed phone, text, email with a 10 day letter" Sorry to let you know this may have been an error , please contact the office to advise when you will pay the rent "Day 3-4 . Call again and explain the process . We can stop this at any time.Day 5 Visit -Take the tenancy summary-Tell the landlordIf landlord gives instructions, get it in writingIf it is a ruse to get emergency money from WINZ , be proactive and enforce the arrearspolicy.Do not stay awake at night think of it , put it on the wall and relax.10 day lettersDates to comply by entered onto wall boardEnquiringFailure to comply , then these MUST be followed through with $20 court applications.There is no point sending 10 day letter after 10 day letter , without showing any teeth.
  27. 27. Ideal OutcomesArrears as 5% of PortfolioAll 21 days in arrears clients , to have an eviction order in place.All tenants in arrears ( that is all tenants not in advance ) to get a phone call, and a plan put in placeto get in advance Loyalty PackageSome landlords like the fact that the Senior manager also sells investments . When you decide tosell your investment property we offer our landlords a reduced commission structure in return fortheir continuing business. In some cases you will save yourself thousands in real estate fees.So what does that mean ? If you are planning to sell , then our property management fees may maynot cost you at all!A Profile of Your Property ManagerJulia BrownRecently coming from a corporate administrative environment, I am delighted tojoin the Tararua Realty team in the promotion of their property management.I pride myself in my professionalism, my interpersonal skills, attention to detailand respect for your confidentiality.My past work experiences and qualifications provide me with strongadministrative and insurance knowledge; skills that enable me to effectivelyattend your property management. I am able to mediate and negotiate tenancyoutcomes, representing your rental property investment to maximise returns.I look forward to providing you with cost effective hassle free assistance in themanagement of your property investments. Please contact me immediately forfurther information.We would like to introduce Tararua Realty Ltd as your next property manager. PropertyManagement is the fastest growing division in our business in both the Manawatu and SouthernLake Taupo , as Landlords seek to obtain a property manager with lower fees and extra services toinsure the value of their return is consistent.
  28. 28. We manage less YOU get more !How can Tararua Realty Ltd increase your return on investment?1 ) Increasing rent if legally able to do so.At present the average rent at Tararua Realty is $260 per week and our lowest rent is $140.00 perweek.So what does that mean ? We diarize and schedule regular rental reviews and maintenance adviceto reduce costs later on . And suggest ways to maximize returns. The question is if we spent$10,000 at 10% interest , can we get $20 more a week to cover it ? And what if we spend $5,000and get $20 a week ? Thats then a better return , it improves the property , gets better tenants andthe better the property , the better the tenant , the better all round. At the current 6% , it pays to improve the property. We can assist with this process.2) Protecting your property with video inspectionsEverybody knows that written inspections are not enough if your have a tenant that has damagedyour property. A video inspection gives you a clear advantage in any situation with first handevidence that damage may have been caused by the tenant.So what does that mean ? It means with good tenants we have time to look at more important issueslike what if we improve the property , can we obtain more rent ? You do not want to read that thewallpaper is ripped on every inspection ( You know that ) The Video inspection covers thebeginning and the end inspections .3 ) On time payment of rent.On the 1st of every month we pay directly into our Landlords bank account the rent collected. Insome cases we pay our rents fortnightly to coincide with our landlords mortgage. This can mean ahuge interest bill savings too!So what does that mean ? It can mean mega dollars saved in interest over time , it really can. Andwith more regular payments you get to see more quickly if an issue arises with non rent payments .One months non rent payment and then not hearing from the property manager , well hello. If the1st or 16th fall on a weekend we pay you BEFORE the weekend , not after.4 ) Over due rent.Through experience we have found that the only way to get over due rent from tenants is to actimmediately upon failure to pay. Each day we know which tenant is going to pay rent and if theyfail to pay into our account we phone contact then or go and see them at their house or call themand ask the question. If tenants are let go one week the likelihood that the next rent payment willnot be paid is extremely high. This is why we are quick to act on non payment of rent.So what does that mean ? It means we will drive to the property and knock on the door !5 ) Tenant ScreeningThis is probably the most important factor in the tenancy equation and we have been known to go togreat lengths to ensure that the tenant going into your property will be the right one for you. Wecurrently do reference checks and credit checks . It is better to do the ground work early on ratherthan having a problem later.So what does that mean ? A better tenant that obeys the guidelines 1. Pays the rent 2. Keeps theplace tidy and looks after it 3. Does not disturb the neighbours
  29. 29. 6 ) Our fees are lowWhile our competitors can be as high as 10% of the rent we believe that by offering quality servicesat a lower rate we obtain the best properties and the best tenants. I mean the better properties dontneed as much managing , as these attract good tenants it is a win:win. We have several differentpackages with the lowest being 6% +GST for multiple properties and 7.5 % for one property. Onproperties that we can help improve returns we will charge from $7.5% + GST on multiplepropertiesSo what does that mean ? We reward good landlords and good properties with a cheaper rate. If wesee we can help you make more money while covering our fees its a win:win . We will take on aproblem or two , but need the landlord to assist us when asked.7 ) Clear end of the month settlement statementsWe try our best to ensure that the end of the month settlement statement can be understood. It isclear that some settlement statements can be very hard to understand. We say “If you dontunderstand our settlement statements call us and we can explain it so you can”.So what does that mean ? You understand the charges8 ) Small number of properties with quality tenantsWe manage less YOU get more of our timeIt is our mission statement not to obtain massive amounts of properties under management. Wehave found to manage properties successfully there has to be an average of 50 properties perproperty manager. Service is the key word and management can only be obtained successfully whenthe property managers are limited to a small number of properties so that organization ismaintained.So what does that mean ? We can dedicate more time to your property , we are unclear howotherwise as property managers we dont become little more than rent collectors . We need to bemanagers and asset advisors also.9 ) TradesmanWe undertake to obtain quotes on all work unless it is an emergency. And before work is carried outwe insure that you are well aware of the process that will take place. We do not align ourselves toany one tradesman. This way we stay as mutual as possible. And when a problem arises with thetradesman we can act without relationship concerns.So what does that mean ? Quality work done at a good price , with little fuss and inconvenience toyourself and the tenants.Here you have 10 reasons why you should consider us as you next property manager, so donthesitate to contact us and we will send you our property management agreement for yourconsideration. Thank you for taking the time to read our news letter.A return fax or email and we can get working for you!Yours faithfullyOfficeWork: 06 355 55 22realestate@inspire.net.nzTararua Realty (MREINZ)
  30. 30. Professional Management of your Property LET US BE PART OF YOUR TEAMRentals Advertising Properties on line at www.tararuarealty.co.nz and www.realestate.co.nz Rental sheets held at office, available to those requesting it. Should prospective tenants wish to view a property then they are to contact the office. Thereby not trespassing or disturbing existing tenants or owners. (The tenancy application form is on the flip side of this rentals list to speed up the whole process. ONE day extra rent could mean $35.71 on a $250 a week house. ONE car trip to town, rather than two for the tenant can save 1-3 days. It all adds up and adds to your bottom line.) Newspaper advertising (where appropriate) We quote new properties to tenants on file via email As Real Estate company, we receive numerous general enquiries from prospective tenants. We keep a record of a majority of these people and if the property is suitable we can match the tenant with the property.What we ask from the Tenants Rental application form and Questionnaire to be completed Photo ID ReferencesWhat we ask from you the landlord Casual letting Details of your property (form attached )
  31. 31. Managing Property Details of property to be rented whether it is a casual letting or full management. (As above form attached) A Written Authority to manage. (Attached) Casual Letting Services There is no charge to the property owner for this service Tenant Selection is in agreement with the landlord Preparation of the Tenancy Agreement with the tenant is our responsibility Arrangement of the rental payments to be paid into the landlords nominated account for the first payment and subsequent payments is done for you We handle the bond payments to the Tenancy Bond Division Under this service we do not arrange for repairs or emergency maintenance. The tenant should deal directly with the property owner Sourcing and selecting tenants for your propertySelecting tenants for your property can become a time consuming and sometimes-difficult process to handle on your own. Nowadays because of numerous unforeseen problems, many property owners prefer to have the selection of the tenants handled professionally by a Property Management Company such as Tararua Realty Ltd.We endeavour to select your tenants from more than one applicant. However, this may not always be possible. But we will always match the tenant to the property as required. All our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from Tararua Realty Ltd. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this way we are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required. We state that rent is paid 1-2 weeks in advance. 1 weeks rent is charged as a letting fee, plus 3 weeks Bond. As a general rule we do not allow dogs unless specifically allowed on the property if the property suits this. In some instances tenants with dogs will pay a higher rental. In this case dogs should not be allowed inside. Tararua Realty Ltd also maintains a register of prospective tenants and landlords who have contacted us in regards to property rentals. Who pays? Tenants pay one weeks rent for this service. We hope that you like what we do and then will use us as a management company for your property. How do we “vet” applicants Tenants fill in a Tenancy application Form and Questionnaire and you get to see this before you decide. Some owners like to meet the tenants. Some like to “ see” where they have lived in the past. Get references. OR go see them where they are now!
  32. 32. Will the tenants look after your property if you do not manageit?We provide written references if the tenants leave the property in good order, have paid their rent ontime and have not disturbed the community. This is a good incentive that you might like to offeralso. We also provide them with a Rental Guidelines sheet that spells out comprehensively what isrequired of them prior to them moving in if they rent a house through us, this will help you. Thetenants then understand exactly what is expected of them.Our Property Management FeesFor full property management services, our professional fee is 7.5% plus GST in Feilding andPalmerston North and 10% in country village and outlying areas on the gross rental received fromthe property. This fee is inclusive of the following services. Rental appraisals Maintenance Inspections Repairs and Maintenance, including emergency workPayments to the LandlordTenants pay the rent money to our trust account, which is entirely separate from our office accountand is audited under the terms and conditions set out by the Real Estate Agents Act 1976 and theReal Estate Agents Trust Account Audit Regulations Act. All trust account records and payments;are checked by the Trusts Auditor and the REINZAt the end of each month we Balance records – Checking rents received, non-payments and repairs and maintenance. Make payments to you the Landlord via Internet banking or posted as a cheque. Process the statements and post them.If you provide us with your bank account number your payment will be received much quicker.Rental CollectionHanding over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one ofthe biggest headaches for many property investors. By alleviating you of the responsibility of thistask, we can provide you with much more time, headspace and deeper sleeps, as well as continuedpeace of mind. Allowing you to get on with more property purchases or whatever else you wish todo, without having to think about whether the rent has been paid.Keeping the relationship as Landlord/Tenant and not becoming too "personable" is the sign of aprofessional landlordOur computer system reconciles all rental payments and immediately alerts us when a tenant missesa payment. We will then gently remind them with a written notification of their responsibilities tokeep on top of their rental payments.In addition to this checking system, we also offer to provide our outgoing tenants with referencesregarding their compliance with our tenancy agreement. We have found that this provides excellentmotivation for our tenants to not only keep their rental payments up to date, but to also comply withother aspects of their agreements.Monthly receipts are also given to the tenantsProperty InspectionsAll properties under our management are held in our database. This ensures each property receivesregular scheduled inspections.
  33. 33. In addition to the initial and final inspections with a change of tenants, we also carry out 3/6monthly visual inspections where we check such items as building maintenance, garden andgrounds tidiness and we will supply the owner with a full report including photos of the property ifrequired.Repairs and MaintenanceAll of our Tenancy Agreements clearly state the individual responsibilities of both the Landlord andthe Tenant in regards to the ongoing repairs and maintenance of the rented property.We provide the tenants with a Rental Guideline.As part of your management contract we will arrange for any necessary repairs and maintenance upto the agreed value. These costs will then be deducted from the rents received and will be clearlyshown on your monthly statement. Tararua Realty Ltd using local trades people can arrangerepairs and maintenance.Other payments for such items as rates and insurance can also be made directly from rentals toalleviate the need for you to arrange separate payments.Landlord/Tenant MediationObviously by using our Property Management Service, we will endeavour to maintain an amicablerelationship between our clients and their tenants. However, should the need arise, we will act as animpartial party to mediate between both the landlord and tenant to achieve a result which issatisfactory to both parties without the need for the intervention of the Residential TenancyTribunal.Residential Tenancies ActKnowledge of the Residential Tenancy Act is a requirement to being able to manage your propertyefficiently. The Property Management team at Tararua Realty Ltd are conversant with thenecessary aspects of this act as well as the workings of the Tribunal.Our Property Managers are be able to act on your behalf, to argue any adverse decisions and be ableto make the necessary decisions to protect your interests as well can attend tribunal hearings.Tribunal Hearings are informal courts where their decisions are based on the accuracy andreliability of the documentary records supplied by both parties.
  34. 34. Property Services- Ask us about: - Improving your rental returns Insurance Finance Chattels valuations Property valuations Lawns and Gardens House Minding Services Minor Works Repairs and Maintenance Major Works House Cleaning Alarm InstallationWe are here to answer your questions Who pays for broken windows? Who should clean the chimney? Do we need a bond?
  35. 35. Details of Property to be rentedFax (06) 355 5531 email: rentals@inspire.net.nz (Please complete all sections and CIRCLE OptionsLandlord/Landlords AddressProperty AddressPhone numbers Home WorkCell phone / Fax Cell FaxEmailBank account number Rent(For Direct Crediting purposes)Arrangements for inspections for prospective tenants __________________________________________________________________________________________________________________________________________________________________Type: House / Flat / Unit / LifestyleCondition: Excellent / Good / Average / PoorBedrooms: 1 / 2 / 3 / 4 / 5 / 6 Plus sleep-outCar Parking: Garage / Carport / off road parking / noneHeating: Open fire / Log fire / Gas / Chip heater / Electric / NoneSection: Large / Medium / SmallLawns: Tenant required to mow Yes / NoGarden: Tenant required to maintain Yes / NoFurniture: Furnished Yes / NoPlease list furniture_____________________________________________________________________________________________________________________________________________________________________________________________Water Comments_______________________________________________________________
  36. 36. Pets allowed (Cats) (Dogs inside / outside) Yes / No Smokers allowed No / Yes Restrictions Outside / Inside Managed Properties (See Authority to Manage forms) Inspections: 3 monthly / 4 monthly / 6 monthly Use Maintenance Contractors Yes / No Up to the value of $ - 00 without notification Do you require? Insurance? Yes / No Photograph supplied Yes / No Finance? Yes / No AUTHORITY TO LetTo:Tararua Realty Ltd MREINZ I hereby appoint you my Agent (s) for the purpose of arranging the letting or leasing of my property described above on the terms and conditionsset forth below, and I authorise you to sign an agreement setting out the basis for the letting or leasing in accordance therewith and to receive payment on account of rent on mybehalf. You are authorised to use particulars of my name and address and information concerning the property for the purposes of arranging leasing or letting.If the property is let or leased by you or through your instrumentality or to anyone introduced through agency, either at the rental for the period and on the terms and conditions statedbelow, or at such other rental for such periods and upon such terms and conditions as are acceptable to me.I agree that you shall charge the tenants 3 weeks bond, 1 week rent and letting fee plus GST. The Bond will be paid to Tenancy Services on my behalf and 1 week rent paid into mybank account forthwith.Terms and Conditions________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Landlords Signature _______________________________________________ Date: / /20 The person signing this contract as Owner warrants that if not sole owner of the property, such person has the authority of all the owners to enter into this contract. Rental / Investment Property Either you or I may terminate this authority at any time (in writing) after 3 months by giving 12 weeks notice. Tararua Realty Ltd MREINZ and Full name of Owner/s: ____________________________________________________________ Contact address: ________________________________________________________________ Telephone: Day___________ Evenings __________ Fax _________ Email ___________________________ Enter into Rental Management Contract under the following terms. Address of property _____________________________________________________ Multiple Properties ______________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ Current Tenant / Vacant ________________________________________ Phone:_______ Property vacant as at __________________________ The Agent is Authorized but not obliged to: 1. Collect Rent and Bond I authorize you to collect a bond and forward to the Tenancy Services division of the Ministry of Housing on my behalf and when the tenancy is terminated I authorize you after you inspect the property to approve the refund to the tenant on my account of all or part of the bond as you in your judgement decide is fair and reasonable. 2. Tararua Realty Ltd MREINZ shall collect rents from the tenant. 3. These monies shall be placed in the Trust Account.
  37. 37. 4. Rent shall be paid by the tenants in advance. 5. Rental Payments to Property Owner 6. Within the first week of the month, Tararua Realty Ltd MREINZ shall pay to the Bank Account nominated by the property owner the rent monies received less the Commission. 7. A Rental Statement and charges sheet shall be forwarded via E-mail or Post (whichever is preferable). 8. Tararua Realty Ltd MREINZ Fees and Charges 9. Rural villages, Towns and Country homes 10.0% + GST 10. Feilding and Palmerston North 7.5% + GST 11. Tenancy Tribunal Hearings (on your behalf) $150.00 + GST 12. Repairs and Maintenance 13. Tararua Realty Ltd MREINZ shall pay on behalf of the property owner from rental monies received any repairs required to the Property, so long as a tradesman deems that the repairs are "Fair wear and tear". 14. Damages caused by the tenant shall be charged to the tenants following provisions imposed under the Residential Tenancies Act 1986. 15. Limit before property owners approval will be $200, except in emergencies, which shall be deducted from monthly statement, otherwise all other repairs must have my approval. 16. Interests of Property Owner 17. I acknowledge that with this appointment as my agent under the terms of the Residential Tenancies Act 1986, you are to act on my behalf as if you were the property owner. 18. Tararua Realty Ltd MREINZ will not be held responsible to the property owner for any rent arrears or damages that may occur. Tararua Realty Ltd MREINZ shall endeavour to act in the best interest of the Property owner/s 19. Property Inspections Tararua Realty Ltd MREINZ shall inspect the Property at the end of each tenancy and schedule regular 3 / 4 / 6 monthly inspections. Otherwise at the Property owners discretion, but not more than once in a 4-week period, giving 48 hours notice to the tenant. 20. Letting feesTararua Realty Ltd MREINZ shall charge the tenant one weeks rent (+GST) as a letting fee until such time as theResidential Tenancy Act (currently under review) allows. I acknowledge that you receive this letting fee from thetenant. 21. Authority of all Owners The person signing this Contract as Owner warrants that if not sole owner of the Property, such person has the authority of all owners to enter into this contract. Signature of Property Owner _____________________________________ Date ____________
  38. 38. Signature of Agent on behalf of Tararua Realty Ltd ____________________Date ____________I / we have read, understood and agreed to the terms herein. I / we acknowledge receipt of a copy of this contract.Tararua Realty Ltd MREINZReferences speak volumesThank you for speaking to us regarding your property manager selection.I appreciate this is a tough decision when facing all aspects of hiring the best person for thejob.We have eight of our clients who have recently decided to use our services. We would be happyfor you to call and ask any questions you might have as an owner before choosing your agent.We have not contacted any of these people regarding yourself, but would feel confident thatthey would speak the truth about us and the Company we represent.We look forward to your decision and the opportunity of working for you in the future. Referees –Tania Butcher Phone 027 495 0038 Required some work to be done on her own home to rent out prior to her moving to Wellington Sold 5 acres and stablesKevin & Maree Davey Phone (06) 329 0001 We sourced a tenant on a home , where 2 new town house are to be built, This is an upcoming project.Alec Henry Email We Manage this Lifestyle, It was with ahenry@fass.ubd.edu. another agency.Mr & Mrs Jhinku Phone 0211 052676 House did not sell , We manage it until the market corrects and the home will then be sold.Kalwyn & Katrina Pereka Phone (06) 354 2349 Private Landlords who now use our services . We manage 5 properties for
  39. 39. them.Rhonda Townsley Phone (04) 9777 458 We manage a home that she did look after herself.Lyn Stevens Phone (06) 326 8089 We manage a home that she did look after herself.Noting is always as smooth as wed like in property management , but its all about how you handle the issues , and how quickly you resolve them. ManagementProperty Management Professional Management of your Property LET US BE PART OF YOUR TEAMCongratulations on finding a tenant, please keep our details we can …22. Help find a tenant next time or23. Manage your property if you are thinking of employing a manager24. Assist you in finding more investment properties.Finding a tenant one week earlier can save you hundreds of dollars and even 1 day might mean on a$270 week rental a $38.57 difference - 2 days is $77.14 !We are only an email away on : rentals@inspire.net.nzProblems in Property Management arise when you do not use the powers of the law, but rather try to takethe law into your own hands or get behind in your checking systems. We understand the law and have thosechecking systems in place.Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently.The Property Management team at Tararua Realty Ltd are conversant with the necessary aspects of this actas well as the workings of the Tribunal.Our computer system reconciles all rental payments and immediately alerts us when a tenant misses apayment. We will then gently remind them with a written notification of their responsibilities to keep on top oftheir rental payments.Handing over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggestheadaches for many property investors. By alleviating you of the responsibility of this task, we can provideyou with peace of mind, without having to think about whether the rent has been paid.The staff at Tararua Realty and I look forward to being of assistance to you. Should you require anyinformation in relation to any Real Estate matters, please do not hesitate to contact us anytime.Tim Kearins AREINZ Principal Looking for more rentals? Can we help?Ph 3290077 Fax 329 0078 rentals@inspire.net.nz
  40. 40. Did you know Tararua Realty Ltd MREINZ offers a comprehensive and professional propertymanagement service.Rental Collection Sourcing &Selecting tenantsRental Appraisals Optimizing rental income Maintenance Inspections Minimize vacanciesHanding on the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of thebiggest headaches for many property investors.We also offer a letting service where we source, vet and select tenants for your rental properties atno charge to you!Tararua Realty can also keep you up to date with new investment properties entering the marketplace, so you never have to miss out on a good investment deal.We would like to introduce ourselves as an alternative service provider, when managing andmaintaining your property investments.If you would like to talk to us about rentals, rental investments, or property in general please callus.Our Letting ServicesThe following are details of our Managed Letting Service:--How Do We “Vet” ApplicantsTenants fill in a Tenancy Application Form and Questionnaire and you get to see this before youdecide. Some owners like to meet the tenants. Some like to “see” where they have lived in the past,get references, OR go and see them where they are now!Will the Tenants Look After Your Property if You Do Not Manage It?We provide written references if the tenants leave the property in good order, have paid their rent ontime and have not disturbed the community. This is a good incentive that you might like to offeralso. We also provide them with a Rental Guidelines sheet that spells out comprehensively what isrequired of them prior to them moving in if they rent a house through us, this will help you. Thetenants then understand exactly what is expected of them.What are your full Property Management Services?For full property management services, our professional fee is 7.5% plus GST in Feilding andPalmerston North and 10% plus GST in country village and outlying areas on the gross rentalreceived from the property. This fee is inclusive of the following services.1. Rental appraisals2. Maintenance Inspections3. Repairs and Maintenance, including emergency work(There is no extra commission charged on any work carried out by tradesmen arranged by us) Thetradespersons fees are charged directly to you with no mark up. In fact we have sourced due to bulkwork requirements tradespeople we consider to be of quality and value, and in most cases discountswill be to the Owners /Landlords benefit. We will also pay all associated accounts in respect toyour rental properties at no additional cost.Payments to the Landlord
  41. 41. Tenants pay the rent money to our trust account, which is entirely separate from our office accountand is audited under the terms and conditions set out by the Real Estate Agents Act 1976 and theReal Estate Agents Trust Account Audit Regulations Act. All trust account records and payments;are checked by the Trusts Auditor and the REINZ. Payments are made twice monthly on the16th and at the end of each month.At the end of each month we Balance records – Checking rents received, non-payments and repairs and maintenance. Make payments to you the Landlord via Internet banking or posted as a cheque. Process the statements and post them.If you provide us with your bank account number your payment will be received much quicker.Rental CollectionHanding over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of thebiggest headaches for many property investors. By alleviating you of the responsibility of this task,we can provide you with much more time, headspace and deeper sleeps, as well as continued peaceof mind. Allowing you to get on with more property purchases or whatever else you wish to do,without having to think about whether the rent has been paid.Our computer system reconciles all rental payments and immediately alerts us when a tenant missesa payment. We will then gently remind them with a written notification of their responsibilities tokeep on top of their rental payments.In addition to this checking system, we also offer to provide our outgoing tenants with referencesregarding their compliance with our tenancy agreement. We have found that this provides excellentmotivation for our tenants to not only keep their rental payments up to date, but to also comply withother aspects of their agreements.Monthly receipts are also given to the tenantsProperty InspectionsAll properties under our management are held in our database. This ensures each property receivesregular scheduled inspections.In addition to the initial and final inspections with a change of tenants, we also carry out 3/6monthly visual inspections where we check such items as building maintenance, garden andgrounds tidiness and we will supply the owner with a full report including photos of the property ifrequired. No additional fees are charged for this service.Repairs and MaintenanceAll of our Tenancy Agreements clearly state the individual responsibilities of both the Landlord andthe Tenant in regards to the ongoing repairs and maintenance of the rented property.We provide the tenants with a Rental Guideline.As part of your management contract we will arrange for any necessary repairs and maintenance upto the agreed value. These costs will then be deducted from the rents received and will be clearlyshown on your monthly statement. Tararua Realty Ltd using local trades people can arrange repairsand maintenance.Other payments for such items as rates and insurance can also be made directly from rentals toalleviate the need for you to arrange separate payments.Landlord/Tenant MediationObviously by using our Property Management Service, we will endeavour to maintain an amicablerelationship between our clients and their tenants. However, should the need arise, we will act as animpartial party to mediate between both the landlord and tenant to achieve a result which issatisfactory to both parties without the need for the intervention of the Residential TenancyTribunal.Residential Tenancies ActKnowledge of the Residential Tenancy Act is a requirement to being able to manage your propertyefficiently. The Property Management team at “Tararua Realty Ltd” is conversant with thenecessary aspects of this act as well as the workings of the Tribunal.
  42. 42. Our Property Managers are able to act on your behalf, to argue any adverse decisions and be able tomake the necessary decisions to protect your interests as well can attend tribunal hearings. TribunalHearings are informal courts where their decisions are based on the accuracy and reliability of thedocumentary records supplied by both parties.Finally we also offer a loyalty program to Landlords of managed rental properties that should anyproperty be sold, our agents commission fee would be reduced from the standard $400 plus 3.9% to$300,000 to $400 plus 3.5% to $300,000. Please do not hesitate to contact either of us should you require any further information.With kind regardsTararua Realty Ltd MREINZ Property ManagementAfter working with several Real Estate companies in the Manawatu I decided to establish my own RealEstate Company. To this objective, I purchased Tararua Realty Ltd earlier last year (2003) together with mywife Tara.The Tararua range, being the most prominent land feature in this region, divides the area we work in, fromnorthern Wairarapa to southern Hawkes Bay on the east and the greater Manawatu, Horowhenua andRangitikei on the western side.We are very excited to be able to offer you this letting and management service. We have some verycapable staff and computer programs that can assist you. We have rental portfolios ourselves; sounderstand intrinsically what and how keeping on top of things and dealing with people, rents and property isall about.Problems in Property Management arise when you do not use the powers of the law, but rather try to takethe law into your own hands or get behind in your checking systems. We understand the law and have thosechecking systems in place.Knowledge of the Residential Tenancy Act is a requirement to being able to manage your property efficiently.The Property Management team at Tararua Realty Ltd are conversant with the necessary aspects of this actas well as the workings of the Tribunal.Our computer system reconciles all rental payments and immediately alerts us when a tenant misses apayment. We will then gently remind them with a written notification of their responsibilities to keep on top oftheir rental payments.Handing over the responsibility of gathering in the rent to Tararua Realty Ltd eliminates one of the biggestheadaches for many property investors. By alleviating you of the responsibility of this task, we can provideyou with peace of mind, without having to think about whether the rent has been paid.The staff at Tararua Realty and I look forward to being of assistance to you. Should you require anyinformation in relation to any Real Estate matters, please do not hesitate to contact us anytime. Looking for more rentals ? Can we helpTim Kearins AREINZPrincipal
  43. 43. Professional Management of your Property LET US BE PART OF YOUR TEAM Rentals Advertising 25. Properties on line at www.tararuarealty.co.nz 26. Rental sheets held at office, available to those requesting it. Should prospective tenants wish to view a property then they are to contact the office. Thereby not trespassing or disturbing existing tenants or owners. 27. (The tenancy application form is on the flip side of this rentals list to speed up the whole process. ONE day extra rent could mean $35.71 on a $250 a week house. ONE car trip to town, rather than two for the tenant can save 1-3 days. It all adds up and adds to your bottom line.) 28. Newspaper advertising (where appropriate) 29. We quote new properties to tenants on file via email 30. As Real Estate company, we receive numerous general enquiries from prospective tenants. We keep a record of a majority of these people and if the property is suitable we can match the tenant with the property. What we ask from the Tenants Rental application form and Questionnaire to be completed Photo ID References What we ask from you the landlord Casual letting Details of your property (form attached - page 5) Managing Property Details of property to be rented whether it is a casual letting or full management. (Page 5) A Written Authority to manage. (Page 9-10) Casual Letting Services There is no charge to the property owner for this service Tenant Selection is in agreement with the landlord Preparation of the Tenancy Agreement with the tenant is our responsibility Arrangement of the rental payments to be paid into the landlords nominated account for the first payment and subsequent payments is done for you We handle the bond payments to the Tenancy Bond Division Under this service we do not arrange for repairs or emergency maintenance. The tenant should deal directly with the property owner Sourcing and selecting tenants for your propertySelecting tenants for your property can become a time consuming and sometimes-difficult process to handle on your own. Nowadays because of numerous unforeseen problems, many property owners prefer to have the selection of the tenants handled professionally by a Property Management Company such as Tararua Realty Ltd.We endeavour to select your tenants from more than one applicant. However, this may not always be possible. But we will always match the tenant to the property as required. All our tenants must provide satisfactory testimonials and current references to be eligible to rent a property from Tararua Realty Ltd. We also require the applicants to sign a privacy clause allowing us to carry out credit checks if required. In this way we are able to ensure that both the tenant and the property owner are satisfied with the tenancy. An official photo ID is required.
  44. 44. We state that rent is paid 1-2 weeks in advance. 1 weeks rent is charged as a letting fee,plus 3 weeks Bond.As a general rule we do not allow dogs unless specifically allowed on the property if theproperty suits this. In some instances tenants with dogs will pay a higher rental. In thiscase dogs should not be allowed inside.Tararua Realty Ltd also maintains a register of prospective tenants and landlords whohave contacted us in regards to property rentals.Who pays?Tenants pay one weeks rent for this service. We hope that you like what we do and then will use usas a management company for your property.How do we “vet” applicantsTenants fill in a Tenancy application Form and Questionnaire and you get to see this before youdecide. Some owners like to meet the tenants. Some like to “ see” where they have lived in the past.Get references. OR go see them where they are now!Will the tenants look after your property if you do not manage it?We provide written references if the tenants leave the property in good order, have paid their rent ontime and have not disturbed the community. This is a good incentive that you might like to offeralso. We also provide them with a Rental Guidelines sheet that spells out comprehensively what isrequired of them prior to them moving in if they rent a house through us, this will help you. Thetenants then understand exactly what is expected of them.
  45. 45. LTDDetails of Property to be rented (Please complete all sections and CIRCLE OptionsLandlord/sLandlords AddressProperty AddressPhone numbers Home WorkFaxCell phoneEmailBank account number(For Direct Crediting purposes)Arrangements for inspections for prospective tenants__________________________________ __________________________________________________________________________Type: House / Flat / UnitCondition: Excellent / Good / Average / PoorBedrooms: 1 / 2 / 3/ 4 / 5 / 6 Plus sleep-outCar Parking: Garage / Carport / off road parking / noneHeating: Open fire / Log fire / Gas / Chip heater / Electric / NoneSection: Large / Medium / SmallLawns: Tenant required to mow Yes / NoGarden: Tenant required to maintain Yes / NoFurniture: Furnished Yes / NoSome furniture Please listWater Comments__________________________________Pets allowed (Cats) (Dogs inside / outside) Yes / NoSmokers allowed No / Yes Restrictions Outside / InsideRent per Week Range $ -00 $ -00Managed Properties (See Authority to Manage forms)Inspections: 3 monthly / 4 monthly / 6 monthlyUse Maintenance Contractors Yes / NoUp to the value of $ - 00 without notificationDo you require?Insurance? Yes / NoFinance? Yes / NoPhotograph supplied Yes / NoOur Fax (06) 329 0077 email: realestate@inspire.net.nz
  46. 46. Full Property Management FeesFor full property management services, our professional fee is 7.5% plus GST inFeilding and Palmerston North and 10% in country village and outlying areas on thegross rental received from the property. This fee is inclusive of the following services. • Rental appraisals • Maintenance Inspections • Repairs and Maintenance, including emergency work(There is no extra commission charged on any work carried out by tradesmen arranged by us)The tradespersons fees are charged directly to you with no mark up. In fact we have sourced dueto bulk work requirements tradespeople we consider to be of quality and value, and in most casesdiscounts will be to the Owners /Landlords benefit.Payments to the LandlordTenants pay the rent money to our trust account, which is entirely separate from ouroffice account and is audited under the terms and conditions set out by the Real EstateAgents Act 1976 and the Real Estate Agents Trust Account Audit Regulations Act. Alltrust account records and payments; are checked by the Trusts Auditor and the REINZAt the end of each month we Balance records – Checking rents received, non-payments and repairs and maintenance. Make payments to you the Landlord via Internet banking or posted as a cheque. Process the statements and post them.If you provide us with your bank account number your payment will be received muchquicker.Rental CollectionHanding over the responsibility of gathering in the rent to Tararua Realty Ltd eliminatesone of the biggest headaches for many property investors. By alleviating you of theresponsibility of this task, we can provide you with much more time, headspace anddeeper sleeps, as well as continued peace of mind. Allowing you to get on with moreproperty purchases or whatever else you wish to do, without having to think aboutwhether the rent has been paid.Our computer system reconciles all rental payments and immediately alerts us when a tenantmisses a payment. We will then gently remind them with a written notification of theirresponsibilities to keep on top of their rental payments.In addition to this checking system, we also offer to provide our outgoing tenants withreferences regarding their compliance with our tenancy agreement. We have found thatthis provides excellent motivation for our tenants to not only keep their rental paymentsup to date, but to also comply with other aspects of their agreements.

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