We can summarise property management in three words: peace of mind. At 360 Property Management, we are in the business of convenience for you – you own the property, but we own the hassles.
360 Property Management is Auckland’s leading property management company with a large real estate portfolio of more than 1600 rental properties (residential and commercial) and a huge team of experienced, dedicated and professional property managers.
Our property managers are supported by a team of letting agents. A lot of property management companies will try to get tenants into real estate at any cost. We take a long-term view to property management – that being, taking the time to find the right tenants in the short term means they are likely to stay in the long term; taking pride in their rental property. We have a variety of strong tenants on waitlists seeking out their dream home. If we don’t have someone in mind for your property, we have marketing strategies to get it in front of the right people.
We can also provide advice around how to best present your property to stand out from other rentals and achieve the best tenants, paying market-rate rent. Our letting agents then use stringent processes to vette tenants before matching them to properties.
Once we have secured the right tenants, our property managers take the reins. Our property managers are the best in the real estate industry. We know that because they’ve won accolade after accolade in property management and real estate awards, and also maintain high NPS (customer service scores).
Our property managers have extensive experience in the property management industry, as well as the broader real estate and property sector, and they also work alongside AT Realty’s real estate agents, so have their fingers firmly on the pulse when it comes to rental rates, property values and more.
360’s property managers are also in the know when it comes to the legal side of property management. Residential property management, and real estate more generally, is an area that has seen an unprecedented amount of legislative change, and it’s no longer viable for landlords to manage their own properties without comprehending the relevant tenancy laws.
Instead of trying to get your head around tenancy laws, it’s better to invest with industry leaders in one of Auckland’s premier property management firms. We have provided our property managers with specific tenancy law training, and have stringent internal processes to ensure all our properties are Healthy Homes compliant.
Every landlord is assigned one property manager, who will be the single point of contact – regardless of how much real estate you own. They discuss with owners the level of communication they would like, and how best to communicate. They will oversee incoming rent payments and outgoing payments such as water bills and rates. We have a zero-tolerance policy to rent arrears, and in the worst-case scenario, 360 Property Management will represent property owners in a Tenancy Tribunal – so all the hassles that come with being a private landlord are taken off your plate.
Our property managers have also spent a long time cultivating relationships with the best – and most affordable – tradespeople and real estate service companies in the business. These service providers appreciate 360 Property Management’s business and do a good job time after time. That way owners know both the regular maintenance – and non-regular issues such as a water leak or electrical problem – of your property is carried out by professionals.
On that note – 360 Property Management’s property managers are on call 24/7 to sort out any tenants’ or landlords’ needs – which means if tenants are locked out of a property at 2am, owners obviously will not have to deal with it. We also consider it a key element of property management to ensure your property is with legal obligations and requirements such as Healthy Homes. Your property manager will not only touch base about any upcoming adjustments that need to be made, but will also provide plenty of notice if expenditure is required for compliance.
As a dedicated property management company, we are 100% focused on property management. While our property managers draw on the resources of the broader Ray White business, and we are aligned with real estate agents within the Ray White AT Realty Group, our company is dedicated entirely to managing properties – and we are good at it.
The process of property management
Preparing your property
First of all, we provide advice on how to best present your real estate to achieve the best price possible. New Zealand rental rates remain strong across the country, and a good property management company will ensure you are getting the best return on your investment from the outset.
You set the price
We also actively involve you in setting the rental rates for your property. You might receive a number of appraisal values for a property. While we offer guidance – and have a lot of knowledge around rental rates – we encourage you to share with us the rental rents you expect or need, and go from there. Why do we do this? A lot of property managers and companies try to draw in landlords through high appraisals. We are confident in our service and don’t need to use these tactics, but prefer transparency around expectations and requirements.
Finding tenants
Our property managers and letting agents have the fingers on the pulse when good tenants are on the hunt for new rental properties. If we do not have tenants suitable for your property in our database, we make sure we get it in front of them, with professional advertising and marketing, including photographs and featured web listings. Unlike other property management companies, our dedicated letting agents are showing a property more than two times a day to potential tenants, and predominantly work after normal business hours. Often nights and weekends are their busiest times, whereas a lot of property managers try and avoid lettings during these times, and 360 Property Management has found this key in finding good tenants in a quick timeframe.
Screening tenants
Once we have a strong pool of candidates for your property, we then draw on stringent tenant vetting processes to screen applicants. We do a 360-degree investigation into potential tenants, including credit checks, tenant reviews and Tenancy Tribunal results and orders, screening news stories, looking at criminal history through court judgements and police checks, employment checks, previous landlord checks and more. We use a system called Multi Bureau Tenant Check, which is a comprehensive screening and assessment platform. It’s a system used by private investigators and debt collectors to find out information about people and it’s the most extensive of its kind in New Zealand.
We then present to you a selection of applicants for your property and let you choose your tenant (if you like).
Managing the tenants – meet your property manager
From here, we assign property owners each a property manager who is best suited to you and your portfolio of rentals. Your property manager will monitor rent payments, outgoings such as water and rates, regular upkeep of your property, unexpected repairs, and everything in between – the general management of your property.
Where’s the money, honey? Our property managers’ process
We are aware that we are dealing with your money, and we have a strict policy in place around rent arrears and while we believe in being compassionate in extraordinary circumstances, our property managers do not tolerate rent defaults on your residential property.
On Day 1 of rent not being current, our property managers make both a phone call and send tenants a text message and if they do not contact us immediately to resolve this, we issue a 14 Day Notice to Remedy. On Day 2, our property managers notify you to ensure you can plan for money cash flow if need be. Except for in extraordinary circumstances, if rent has not been brought back to a current status by Day 8, our property managers will prepare and lodge documentation with the Tenancy Tribunal seeking Termination of the Tenancy and payment of Rent Arrears in accordance with Section 56 of the Residential Tenancies Act 1986. This will result in an application to the Tenancy Tribunal, which may result in the termination of a tenancy. Normally once our property managers action this process it shows we are serious and we reach a resolution prior – whether it’s full payment or implementation of a payment plan.
Maintaining the property
People often think that a residential property (as an investment) isn’t going to require any maintenance. The reality is that the majority of investment properties we manage are, on average, forty years old and they need upkeep and maintenance. Plus, a well-looked after property lasts longer and attracts and retains better tenants. But – you absolutely have control over the upkeep of your residential property. Our property managers allow landlords to set their own limit of authority on maintenance, meaning your property manager can only spend a certain amount on repairs without your express consent, for your peace of mind. This is referred to in contracts as an expenditure limit and can vary from $0 to one week’s rent.
Our property managers also have a solid network of competitively priced but efficient contractors to hand. You do also have the option of using your own contractors if you wish – just let your property manager know – but we do consider our contractors some of the best in New Zealand.
Preventative maintenance
One of the best things about property managers is someone in the know keeping an eye on your property – and be able to identify areas of preventative maintenance so you can stop small issues becoming large (and expensive) issues in your residential property. Preventative upkeep might include things we pre-empt every six or twelve months (that fall outside of the tenant’s responsibilities) such as house washing, gutter cleans, tree and hedge trimming, air conditioning servicing, chimney sweeps and ventilation servicing. A well-insulated and ventilated home will also reduce mould – so we keep an eye on this to see the home has the correct air ventilation and the tenants are in a healthy environment – and doing their part to ventilate.
Reporting
Our property managers provide comprehensive reporting when it comes to the condition of your property. Pre-commencement date, the property manager will do a thorough inspection of the property, which normally takes a couple of hours and is accompanied by up to 200 photos. Your property manager will check off everything in the house, and its condition. This is provided to the tenant when they move in, and they have up to seven days to sign it off. This is a really important part of the process.
Our property managers also carry out quarterly inspections every three months. Again, this report comprehensively checks the condition of the property – also looking at the cleanliness of the property, who is living there, the lawns, mould, and any damages. This is reported to the owner in a document itemising everything and stating the condition, accompanied by 100 photos. It will be summarised and tenants will be advised of any maintenance they need to get on top of. The landlords will also be notified of any upkeep or repairs they should prepare and budget for.
Our property managers then do an exit inspection once the tenant moves out and compare it to the entry inspection. Any discrepancies will be allowed for in the bond.
Financial reporting
Our property managers also provide landlords with monthly financial reports with easy-to-read statements, as well as an end-of-financial-year summary, making the management of the financial aspect of your asset a breeze. If you’ve set up a business or a company for your property, we can also assist with reporting for that – it’s all about managing your investment.
Moving on
While our company focus is inherently on the management of your property, we also work closely with our network of real estate agents, so should you wish to sell, we can connect you with some of the best in the business. Our sister company, AT Realty, sells residential and commercial property across Auckland, and has a number of industry-leading estate agents. Because we are in the business of property management, we are also well-placed to provide advice – or direct you to someone – about acquisitions and expansions of property portfolios.
