It comes as no surprise to us that Property Management is a fast growing sector in New Zealand.
Particularly in the Auckland region where migration is very strong both locally and from offshore. It was reported in the news just this week that migration was up 31,900 in the last 12 months. That’s a lot of people needing somewhere to live!
We know buying property in Auckland is out of reach for many people and it’s getting harder. Therefore renting for years and maybe forever may become the norm.
Managing rental properties is no easy task and while some property owners still prefer to do it on their own, many are now outsourcing the service to a property management company.
It wasn’t that long ago only a handful of property management companies were in operation – now particularly in Auckland there are a lot more companies and they are not all offering the same service. Take Stake Property Rentals for example – they have the latest rental systems and support services but that in itself is not their unique selling point or point of difference.
Stake Property Rentals provide a turnkey solution for property investors. Their team regularly purchases properties and renovates them to a high standard so they achieve maximum rental return. As a property investor you can buy properties privately from them saving on the usual Agency fee. Stake Rentals will then locate the tenant and manage the property for you. Plus any ongoing maintenance can be done by their team – so often there is no need to rely on a third party.
Clearly this business is quite different from other property management companies and Stake Rental’s formula is a winner. It’s not just their ability to take the hassle out of finding a rental and then managing it – it’s also their foresight to lock in the property management fees so instead of a percentage of the rental income it’s a fixed rate. This allows rental increases to go directly to the property owner.
Property Management is a fast growing sector so it certainly pays to limit your competition by providing a more unique service in a market and as a property investor it pays to hunt around for the service that best suits your requirements.