Using a property manager to find tenants only

[north shore]

Hi,
Thinking of using a property manager to find tenants only, not property manage it, has anybody had any dealings with:
Neale Lockhart
Property Minders & Management Ltd
Property is in Totaravale on the north shore.
And also any advice would be greatly received, as in the past we have done that side of it

[Keys]

What will your contract with them include?

Nail it down tight as all they have to do is fill it. Easy to do that with a bum tenant.

[north shore]

Hi Keys, do wish you would move to auckland
I want them to do the advertising and revelant checks. Never used one before so not sure.

[Tan]

I have used them several times, although more are declining now. It used to be free, last time I was charged a weeks rent + GST.
Suited me at the time, now I would just get the property managed as it is easier to manage other people property than your own!

[jenni_nextplace]

Keep in mind that an agent may not choose the best tenant for you, because the only interest to them is to find a you a tenant so they can receive payment. One weeks rent plus GST is a standard charge.

When they have to manage the property themselves the agent will be far more selective as they don't want the dramas.

[ilusiv]

If you are willing to manage it, I suggest you do it yourself. In Totaravale you will have no dramas finding good tenants. Load a trademe ad, make appointments with people (staggered rather than an 'open home' is better in my experience).

Sign up for a credit check of some sort - I suggest tinz.net.nz which facilitates the credit check and checks things like previous checks, tenancy tribunal.

Check their names through google, and social media if you can, and pick the best one.

Even if I got a property manager I like to select my tenants myself - while many PM's are great - some aren't, and I think if you aren't giving them the contract they may will fill it with the first person to put up their hand.

[td91]

As far as I know Barfoot and Thompson and Ray White provide a casual letting service (this is the name for what you are wanting)

These are free generally as the tenant pays the letting fee which covers their listing on Trademe and the application process and of course their commission out of it all.

[north shore]

Thanks everyone, haven't had to find any tenants for our two rentals since early 2004 and 2006!!! We have been so lucky that feel we must be due some bad one's. Thought they may make a better choice, luck of the draw by the look of things.

[Tenancy Solutions Ltd]

Hi North Shore,

What you want to have is a Sundry Letting Authority. This allows the letting agent/management company to list and create an agreement on your behalf with out full management. The letting service should be free to you and the tenants charged a letting fee.

I agree some agents will put anyone in to collect a letting fee but a good agency should understand that if they get you a great tenant then you are more likely to use them again in the future. As a matter of course we always discuss all applications with the owners as they will be managing the tenants and it is common for owners to meet potential tenants to make sure they feel comfortable with them before an agreement is signed.

[pl]

I use to use agents to get me tenants every time, and never had any issues before. Just took out a bit of work from me doing it. But now everything is managed as just do not have time for it anymore. There is the risk of the agent getting anyone filling the vacancy, and may have been the case, but was lucky enough that tenants were ok. Have more problems since then with tenants where they are now fully managed. I think I used Robert Sadd up your way once to find a tenant. Found him very good and professional. When fully managed, your property will never be looked after they way you would. It is just the way it is.

[north shore]

thanks everyone, we have got a letting agent to find tenants which we get to okay or not, so hopefully will go well.

[landlord1990]

I firmly believe you need to question why a dedicated property management company would offer this service. If they are any good at what they do you would have to question:

1. Why would they spend their resources only to get a letting fee?
2. If I were an owner with their company I would be questioning why they would promote a property to a sundry let instead of my property which they manage?
3. They are obviously not doing well in their core business if they have to resort to sundry letting.
4. If they are managing my property it is far less likely they will short cut the whole application stage, since they also dont want the headache of being stuck with a bad tenant.

Lets face it decent pm companies have advertising resources stand alone owners (like myself) do not have access to, Therefore. I will always choose a company that does not
offer a sundry service to anyone, it is one of the first questions I ask of a PM company, so far fingers crossed has proven me right.

[skid]

Perhaps because they are hoping for future business if the owner decides its to much work-goes overseas-gets old?

[Top Notch Investor]

Hi North Shore

I can't believe you won't do this yourself considering you live on the shore, advertise the property on Trade me and put a for rent sign outside, hold an open home on the weekends. It doesn't take alot of time and you will get to see what kind of people are coming through the door. The PM's will just want their letting fee - why would they care who they put into your property. Sorry I just don't get that

[skid]

We did it a few times in the past but found we were much better off deciding ourselves--not always easy though.
In the last 5 yrs in Auckland the problem has been trying to decide between the last 4 ideal tenants (and having to tell the other 3 no)
Alot have stories of PMs having 40 people at once and just taking applications and leaving after 20min.
They couldnt possibly get a feel for tenants.