What is a management fee?
A management fee is the fee charged for looking after the property. This is a percentage (as per your Management Authority) of the weekly rent (plus GST). This includes advertising, rent collection, re-letting, inspections and administration such as statements.
What do you do to ensure I get the best tenants?
This includes our practical experience in dealing with people, carrying out reference checks by telephoning previous landlords or employers, credit checks and checking prospective tenants with our debt collection agency.
What happens if the tenant doesn’t pay rent?
Rents are checked on a daily basis. If a tenant misses a payment they will be contacted via phone, text or email to bring the failure to the tenant’s notice. If the tenant does not respond immediately a 14 day Breach of Tenancy Letter is issued. This advises the tenant that they have 14 days to resolve the situation.
How often will inspections be carried out?
An initial inspection is carried out with the tenant the day they move into the property. Their first inspection is one month after tenancy commences, after that we carry out extensive property inspections every 3 months approximately.
When will I receive payments?
Payments to owners are made fortnightly or as discussed with you during signing a contract.
Can I do any repairs and maintenance myself?
We have a large range of contractors which we can organise. This saves you the hassle of dealing with emergency call outs and allows us to keep a record of what goes on at the property. It also makes it easier for your accountant at the end of the year as it keeps all income and expenditure on one end of year statement.
What do I do if I want to sell my property
You are legally required to advise the tenant that you are intending to sell. We have the appropriate letters that cover these legal requirements.
How much notice do I need to give the tenants if I wish to move back into my property?
Notice for tenants is 63 days. If you do decide to return to the property please allow extra time after the tenant vacates to ensure that cleaning or maintenance is carried out if required.
For more details, email us at info@classicrentals.co.nz
