How we manage your property
Renting out property can be a highly profitable experience. Without the correct advice, it can also be stressful and expensive.
At Watson Property Management in Palmerston North and Feilding we take the stress out of owning a rental property. Specialising in properties best described as 'family and executive homes', our expert property managers can advise you on all aspects of the process, whether you are buying an investment property or renting out your own home. In fact, *we're so confident in our ability to help you that we guarantee that, if after three months, you are not entirely satisfied with our service, we will cancel your contract and refund in full all management fees paid by you!
What is Property Management?
A property management service takes away the stress of owning a rental/investment property. Our unique and flexible approach to tenant sourcing and our all-encompassing approach to property management and maintenance mean that you can have peace of mind knowing that your investment is well cared for. We believe that a good tenant for you means a good relationship for us.
What makes us unique?
At Watson Property Management Services, we have a unique approach to property management.
- We select your tenants carefully. Our uniquely tailored tenant sourcing system and our exhaustive screening process helps to eliminate most potential tenant problems, giving you peace of mind and helping you avoid the financial and emotional stresses of bad tenants.
- During the tenancy we maintain a strict watch on your investment. We have strict systems and processes; based on tenancy law, which ensure regular property inspections and early intervention should any problems arise.
- We reduce your financial risk. We believe we offer the most comprehensive specific landlord insurance policy which protects you from a range of problems including unexpected rent stoppage and large scale malicious damage to your property.
- We are well known within the industry for innovation and as a result can bring you unique benefits when using our service. Our extensive use of video, simple all inclusive fee, and our 100% money back guarantee will give you a far superior service as compared to others.
- We genuinely aim to help our clients into a better financial position than if they were managing the property themselves. Our goal is to offset our fees as much as possible in this way.
What do we do?
At Watson Property Management Services, we treat every property as if we own it ourselves. Unlike most property management companies, we have no hidden costs - everything we do is covered by one basic payment, allowing you the freedom to budget accurately.
What will Watson Property Management Services do?
- List your rental property and advertise it in a wide range of media
- Create a video walk-through of your property, so tenants can view your property whenever and from wherever they want
- Allow tenants to book viewings of your home online, so we don't miss any opportunities of getting great tenants
- Show your property to pre-screened prospective tenants through private appointments
- Prepare and lodge the Ingoing Property Condition Report
- Photograph your property in detail
- Prepare an inventory at the property
- Prepare tenancy documentation
- Sign up documentation and collect initial monies
- Collect rents and any other monies owed by the tenants
- Undertake tribunal representations on behalf of the landlord
- Carry out regular maintenance inspections
- Review rent levels regularly
- Calculate the potential sales value of the property annually
- Arrange repairs and maintenance
- Pay property outgoings
- Advise on specialist landlord insurance options
- Prepare and lodge insurance claims when necessary
- Conduct outgoing inspections
- Process the tenant's rental bond
- Account to the landlord with regular financial reports
- Communicate with landlords and tenants on property related issues
- Resolve tenant conflicts.
Why Invest in Property?
Investing in property can be highly profitable. Investment provides a more secure future for you and your family. In order to maximise your returns it is essential that you are correctly informed and guided by a qualified agent.
Wealth is not necessarily determined by how much money you earn, but by what you do with it. With the correct guidance, investing in property can provide a secure future, without the need to invest a fortune each week.
Have you ever thought, "I wish I bought a property in (suburb) years ago"? Property increases in value over time so your initial purchase should be a wise one. Try increasing your portfolio as often as possible and hold on to your investments for as long as possible.
Benefits of property investment include:
- Tax savings
- Viewing your tangible investment
- Controlling what happens to it
- Relative stability of investment (while shares fluctuate in value)
- Use of the equity to increase your portfolio
Where To Invest
If you choose to invest in residential property, we recommend that you research the areas of interest to you. You may prefer to employ the services of an agent who already has this market knowledge.
The two things to consider when choosing a property for the purpose of generating wealth are the rent return and the capital growth. Many properties may offer good rent return but may not have high capital growth potential. The reverse can also be true.
The following features should be considered when purchasing an investment property as they help to attract tenants as quickly as possible.
- Located close to amenities (schools, shops, transport)
- Plenty of storage (robes, linen cupboards, etc.)
- Adequate security (window locks, dead locks, alarms, etc.)
- Additional comforts (heating, dishwasher, etc.)
- Low maintenance gardens
- Secure parking facilities
- And some further advice:
If you purchase a property and plan refurbishment, it is wise to speak to an agent who can advise you of the potential extra income this may generate. Ensure your new property is of a high standard and that it is maintained to this standard. This will attract a better tenant and provide you with a better return. High standards also make it easier for you to borrow against the property to increase your investment portfolio.
How Should I Fund Investment?
If you have equity in your home, you may be able to use this to purchase a property, instead of using a cash deposit. In this situation, as your equity grows, so can your investment portfolio. These days there are a wide variety of loan options available. It is recommended that you consult with a mortgage broker to discuss which one best suits you.
A principal and interest loan allows you to pay additional amounts off the principal sum. This is often used to finance personal property acquisition. With principal and interest loans, you may be vulnerable to interest rate fluctuations, but you can pay off your home quicker. For investment properties, an interest-only loan is often recommended. This loan only requires you to pay the interest and the interest rate may be fixed for a longer period.
Another option to consider is splitting your loan.
As mentioned, investors are advised to consult with a mortgage broker. They have access to loan options offered by all financial institutions and can therefore find the one that best suits your situation. This service is free and their industry knowledge can save you a substantial amount of money in the long term.