Sue Hall

"My reputation is your guarantee"

" Sue Hall You've done it again Sue! Sold another home for us in a very professional manner, kept us informed throughout the process and done so in a caring way. We couldn't have asked for more. Thank you Sue!! "

- Sonny and Eileen

"Sue Hall recently acted for me with respect to the sale of one of my properties and she had also previously acted for me with the sale of another property. I must say that it has been a pleasure to deal with Sue. She is courteous, efficient, very direct and business like with her statements and communicates regularly. As a busy..."

- John
More testimonials »

Five Ways to Decide if You Need a Property Manager

28th Jun 17

If you’re new to owning a rental property, then you might be wondering whether it’s better to manage your rental property yourself or whether you should hire a Property Manager.  While it’s tempting to manage your rental property yourself, it can be a huge time drain – Especially if you're still learning the ropes.

To help you decide, here are few things you should consider:

1. Time

How much time are you willing to spend maintaining your rental home, interviewing tenants, inspecting it or following up on overdue rent?  Are you willing to give up your weekends and attend late night call outs?  If you’re time-poor, you may find that a dedicated Property Manager is a good option - I’s their full-time job after all.

Are you planning any overseas travel?  If you are going overseas for more than 21 days in a row, you’re required by law to appoint someone to manage your property.  It doesn’t have to be a professional manager.  In fact, it can be anyone you choose, though it’s a good idea to appoint someone who knows something about managing a property!  Just make sure you give your tenants their details before you leave.


2. Budget

If your free time is valuable to you, consider working out what your time is worth and whether it’s better to pay someone else to take on the responsibility of managing a property.  The next question is can your time budget allow for it?  Your answer may depend on whether your property is negatively or positively geared and which management company you choose.

As a general rule of thumb, Property Managers usually charge between 7 - 9% of the rent collected and any repairs carried out on your behalf.  In Hamilton, the median rent for a three bedroom home in February 2017 was $390 per week.  A Manager charging a 9% fee would cost $35.10 per week or around $150 a month (This example doesn’t include any maintenance, tenant screenings [Usually $30 per tenant] or inspections [Around $50]).


3. Distance

How far are you from your rental property?  Is it down the block, on the other side of town or the other side of the country?  If it is going to be difficult to get to your rental property to carry out your landlord duties, a local Property Manager can take over and make your life, and your tenant’s lifes, much easier.




4. Knowledge

Property Managers know the ins and outs of rental properties, tenancy and the law.  Their knowledge and experience is especially valuable if you’re a first time landlord.

They can:

  • Collect rent and manage rent arrears.
  • Provide general advice on landlord insurance to protect against loss of rent (E.g.  If you evict your tenant) and any malicious damage not covered by normal house and contents insurance.
  • Tap into their agency’s network to find tenants and keep your home occupied.
  • Screen tenants for your property.
  • Resolve tenant disputes.
  • Monitor market trends and any legislative changes that may affect your property.


In all, it’s their job to make your role as the property owner as easy and hassle free as possible.


5. Maintenance

How much of a handyman / woman are you?  Do you know the signs of water damage or meth use?  In 2010, the BRANZ House Condition Survey found that 80% of rental occupiers believed their house was in good condition, while in reality only 22% actually were.  This result goes to show the how much an untrained set of eyes might miss.  A professional manager for your property cannot only help you organise regular maintenance, but they can recognise what maintenance is needed.

They also have a network of tradesmen to call upon too - Which is very handy in an emergency, like a burst water pipe in the laundry.

Property Management can cause you to lose some serious hair!  It’s worth considering the impact that managing a rental home can have on your health and wellbeing before taking up the challenge.

^ top
Filed under Hamilton / Waikato \ Real Estate

Related posts

Leave a comment

Fields marked * are required

Sue Hall's Blog

How is the Real Estate Market looking following Covid-19?

Though it is always difficult to have a crystal ball when it comes to predicting the real estate market, there are several historical factors we can look at when evaluating the market moving forward.  A number of comments in this blog have come from trusted sources and experiences of those who have had lengthy careers in the Real Estate industry, including working through the previous Global Financial Crisis.

Read More »

Covid-19 and Your Property - What You Need to Know

For answers to the frequently asked questions regarding Covid-19 and Real Estate, please visit this informative article from Lodge Real Estate.

Read More »

Balloons Over Waikato 2020

It was with extreme disappointment and heavy hearts that the organisers of Balloons Over Waikato announced that all public events, including morning inflation and the Nightglow have been cancelled. "As per the Government recommendations in regards to mass gatherings, Balloons over Waikato have made the decision to cancel public attendance at Innes Common for morning flying, The University of Waikato for Nightglow, and all other sub events associated with the Festival."

Read More »

Ruakura Inland Port Set To Open In Two Years

An inland port the size of Auckland's CBD in Hamilton is one step closer with Tainui Group Holdings and Port of Tauranga joining forces to open at Ruakura within two years.

Read More »

Waitangi Day 2020

The 6th of February every year is Waitangi Day.  This day is the most important marker in New Zealand’s history and commemorates the first signing of Te Ririti o Waitangi, The Treaty of Waitangi. Waitangi Day is a day to reflect on the controversy that surrounds the Treaty of Waitangi – Throughout history and within today’s society, how this has affected all New Zealanders and how it has shaped the country in which we live today.

Read More »

More Blog Articles »