5 Responsibilities of a Wellington Property Manager

Grant Foggo

When you’re looking for professional property management in Wellington, it’s important that you find a company that delivers outstanding customer service and understands the needs of your property and your tenants. 

There are many things for which a property manager is responsible. Today, we’re focusing on five of the most important responsibilities. When you’re looking for a good property manager, make sure they have a plan for delivering these critical services. 

Collecting Rent on Time

You need property managers who have a plan for robust and proactive rent collection. When rent is late, it causes a disruption in your own financial balance. Tenants need to understand that rent is expected on time every month or there will be consequences. Make sure you’re working with a property management company that has a documented, consistent, and enforced rent collection policy. Chasing down late rent is expensive, stressful, and unnecessary.

Routine Rental Property Inspections 

You also want your property manager to perform quarterly inspections of your rental property. This balances your tenant’s rights to privacy and your need to know that everything is in good shape at your investment property. When the home is inspected every few months, you will know that your tenants are complying with the terms of the lease, and the home is well-maintained. It gives your property managers the opportunity to look for deferred or unreported maintenance. These inspections protect your property and your ROI. They are also helpful to the tenant, who can discuss any questions or problems with the management team. 

Detailed and Accurate Property Accounting 

Trusting your investment and your accounting details to property managers require that they’re transparent and professional. You want to receive regular reporting with clear monthly statements. Make sure you can see and understand all of the income and expenses associated with your investment. It’s your property manager’s responsibility to keep you informed and to be a good steward of your funds.

Excellent Tenant Relationships and Communication

Positive tenant communication is a major responsibility of property managers. Tenants are an important part of having a good rental experience. When you have happy tenants, your property is maintained and your rent is paid. Happy tenants lead directly to happy owners, so it’s essential that your property management company establishes a positive and respectful relationship and communicates well with your renters. 

Proper Rental Value Pricing 

Proper Rental Value PricingYou’ll need regular rent reviews to ensure your property is at market rent. If you are asking too little, you’ll be losing money and if you’re asking too much, you will also lose money on longer vacancy and turnover periods. In order to receive optimal rental income, you have to make sure the home is priced to get the immediate attention of outstanding tenants. A good property manager will know the market well enough to advise you.

When it comes to Wellington rental properties, we understand properties, investors, and tenants. If you have any questions about managing your rental property, please contact us at Comprende Property Management.