Is DIY Part of Your DNA?

Approximately 25% of New Zealand residential landlords use a property manager from a property management company.  In Australia it is around 80% and in the UK it is even higher.

Why are we different to other countries, and what is it costing us?

One reason we are out of step compared to other countries is we are a national of DIYers.  A do it yourself attitude is a dangerous one when it comes to property management.

Relatively speaking, New Zealanders are naive, and continue to bring a DIY attitude to not only property investment, but all kinds of business enterprises.  It is why so many owners started out with big ambitions, and now find themselves stuck in a rut – working hard for little return, and seeing no way forward other than to work harder.

Smart business people allocate time and effort to where it will make the biggest difference, and engage others to do the rest.

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Almost every new client who comes to us after having managed their own rental property has been leaving money on the table, often for years. The reasons are many.

Ambitious business owners aim high.  New Zealand has plenty of world beaters who got there by not only working hard, but thinking smart and surrounding themselves with great people.

We would like to see property investors flourish in this country, achieving the returns and long term wealth that’s really possible.  Regardless of how you are growing your wealth – how much more could you create with the support of committed experts who are out to have you win?

Talk to Kerry Kirwan from Quinovic Property Management Parnell about us managing your Auckland rental property:
P: 09 373 4353
M: 0220 108 005

The Business of Quinovic Property Management

Largest Specialist Residential Property Management Company in New Zealand

Quinovic Property Management – founded in Wellington in 1988, and the largest specialist residential property management company in New Zealand has 30 franchisees the NZ Herald reported recently.

Quinovic Property Management is a business with a premium brand and potential customer base, and is based on proven systems and processes.

Services include finding suitable tenants for each property;  managing rental collection;  overseeing necessary maintenance work and carrying out regular inspections.

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A lot of business comes from referrals.  Many property investors who were once tenants, and who have experienced Quinovic standards and methods come back after they have purchased their own rental property.

The first Quinovic office was opened in 1988 with the mission to achieve excellence in property management services, backed by first-rate systems and processes.  Since then, Quinovic has developed specialised expertise in managing residential properties, for both home owners moving out of town and residential property investors.

With a professional and technologically-advanced approach, Quinovic has met the demand for quality property management services and is the leading residential property management group in New Zealand.

Get in touch with Kerry Kirwan from Quinovic Parnell today and talk to us about us managing your Auckland rental property:

Quinovic Property Management Parnell

Interested in reading more?  Follow this link for more information

Reputable Property Managers in Parnell (Auckland, NZ)

Quinovic Property Management in Auckland has earned an enviable reputation for providing over 20 years of reliable property and tenant management for residential properties.

Our range of property management services is extensive, modern and well regarded by our rental property owners and investors.  As evidenced by the fact that our residential property management business tends to grow through word of mouth of our existing client base.

Specialised property account management ensures we can integrate all of the Quinovic property services to provide the complete management  service for you and your rented property.

To contact the specialist property management team call Quinovic Parnell.

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Enhancing Residential Investment Property Rent Returns

Property Magazine International printed an article this week about enhancing private rental sector returns from the third quarter Young Index. The article gauged landlords views on the value of professional property management and its impact on residential investment returns.

Stats are for London but the trend is definitely reflected in Auckland’s investment property market.

Here are the trends:

76.6% of landlords believe that tenants pay higher rent for properties that are managed by professional property managers

82.9% of landlords believe that average tenancies are longer for property that is professionally managed

73% believe that professional property management enhances capital value

85.7% believe that professional property management is money well spent

77.6% recommend using professional property managers

81% spoke to use a professional property manager

17.2% only, manage their own properties.

The percentage self managing their properties is probably higher in the New Zealand rental property market due to the Kiwi do it yourself mentality in the name of cost saving. False economy?

In our experience properties we manage:

  • are well maintained so attract & retain good tenants and enhance property value
  • attract above average rents and with 6 monthly rent reviews ensure the best return and well and truely justify management fees
  • attract higher than average rents at letting time because tenants are not faced with letting fees.

Contact us for rental appraisals and management proposals , rental houses, rental units, rental townhouses, apartment blocks in Auckland.

Mary and David Vinsen and our team at Quinovic Parnell, Thomas Goehring, Gordon Walker, Chris Fleming.

www.quinovicparnell.co.nz

More on Rent Arrears…

Having written last week on “How to Achieve Zero Rent arrears” I was amazed to discover two friends whose rental properties had fallen into serious arrears while being managed supposedly by professional property managers. Sadly we hear the same story time and time again so this was just another example (two more actually) Why would any landlord accept tenants who fall behind in their rent payments. Well example number 1. Owner of a very nice 5 bedroom home under-rented, managed by a property manager who was under resourced to cope with the business, did no inspections in a year, did not review the rents and allowed rent to be in arrears to the tune of $9000?? The question is why? Why does an owner put up with it? They said they didn’t want to lose the tenant in case they couldn’t find another one?? But worse still, they didn’t want to terminate the agreement with the property manager because the property manager was a friend and was cheap!!  Example number 2. Property investor with several rental properties, some managed by property management company and some self managed.  The self managed properties lost $16,000 in rent arrears in one year? Why? The investor could not be bothered to check his bank statements nor did he review rents or inspect the properties. Needless to say we will be offering to turn the situation around in both cases including chasing the rental arrears. As a property investor myself and owner of Quinovic Property Management Parnell I know there is a better way. Contact us Mary Vinsen or David Vinsen and have your property or properties managed professionally.