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.