What does a Property Manager do?

13 May 2024

property management Auckland

In New Zealand, a Property Manager plays a crucial role in the real estate industry, managing the day-to-day operations of rental properties on behalf of landlords. This profession involves a range of responsibilities, from tenant management to overseeing financial transactions, and it requires a good understanding of New Zealand's specific legal environment. Here's a comprehensive look at what Property Managers do in New Zealand. 

Tenant management.

One of the primary responsibilities of property managers in New Zealand is managing tenant relationships. This includes everything from finding and screening tenants to ensuring that their needs are met during their tenancy. Property managers handle lease negotiations, conduct background checks, and ensure that tenants understand their obligations under the Tenancy Agreement.

The Tenancy Services division of the New Zealand Ministry of Business, Innovation and Employment provides resources and guidelines that property managers must follow to ensure fair and legal dealings with tenants (Tenancy Services).

Property maintenance and inspections. 

Regular property maintenance is essential to ensure the safety and comfort of tenants and to preserve the value of the property. Property managers are responsible for scheduling and overseeing repairs and routine maintenance. They also conduct regular inspections to ensure the property is in good condition and that tenants are complying with their lease terms.

Financial management. 

Property managers handle all financial aspects related to property management. This includes collecting rent, managing budgets, and maintaining financial records. They also ensure that all transactions comply with New Zealand’s legal requirements, such as the Residential Tenancies Act 1986.

In addition, property managers often manage the payment of bills associated with the property, such as rates and insurance, and prepare financial reports for property owners.

Legal compliance. 

Understanding and complying with New Zealand law is a critical component of a property manager's duties. This includes adhering to the Residential Tenancies Act, the Health and Safety at Work Act, and local council regulations. Property managers must stay updated on legislation changes and ensure both landlords and tenants are informed about their legal rights and responsibilities.

The Real Estate Institute of New Zealand (REINZ) offers courses and resources to help property managers stay compliant with New Zealand laws (REINZ).

Marketing and communication. 

Effective marketing is key to minimising vacancy rates and attracting quality tenants. Property managers in New Zealand are responsible for advertising properties, which includes listing properties online, hosting open houses, and creating promotional materials.

Communication is also a significant part of a property manager’s role. They act as the liaison between the property owner and tenants, handling any conflicts that arise and ensuring that communications are clear and professional.

In conclusion.

The role of a property manager in New Zealand is both diverse and demanding, requiring a broad skill set including legal knowledge, financial acumen, and excellent interpersonal skills. For property owners, hiring a knowledgeable and experienced property manager can ensure that their property is managed efficiently, remains compliant with all relevant laws, and provides a steady and optimal return on investment.

Whether you are a property owner looking to hire a property manager, or you are considering a career in property management, knowing the full scope of the role can help you make informed decisions in the dynamic and challenging real estate market of NewZealand.

Hammond & Co is a specialist property management company based in Auckland. Hammond & Co’s purpose is to navigate the increasing complexities of long-term property rentals, delivering optimum outcomes for owners and tenants through our tailored property management approach. Contact Hammond & Co for expert advice on getting the most from your property investments.

-

Gina Colcord

Business Manager

Gina Colcord is an experienced Business Manager in property management with over 15 years of experience. She has worked across various property types and has been recognised for her achievements, including being a finalist for the REINZ Business Development Manager Award in 2020 and previously winning the LJ Hooker National Award for Best Property Investment Management in NZ.

You can contact Gina on 027 266 8367 or emailing gina@hammondandco.nz