Guide to Property Management

to any problems without delay. All funds are held in anon-interest bearing trust account which is independentlyaudited on a quarterly basis.OWNER PAYOUTS AND STATEMENTSFunds are direct credited into your account on a once ortwice monthly basis, and our clients can view their currentand previous statements online 24 hours a day, 7 days aweek. We will also attach to your e-mailed statement anyinvoices for maintenance work completed.At the end of each financial year, we also supply all ourclients with an annual income and expenditure summarywhich your accountant will require to claim the maximumtax benefits.MAINTENANCE AND REPAIRSIt is important that maintenance issues are attended topromptly in order to:▪▪Maintain the capital value of your property▪▪Prevent minor problems escalating▪▪Keep your customers, the tenants, happy with their homeWe have strong relationships with a select number ofexcellent and reliable contractors who perform work atcompetitive prices. However, should you have some keycontractors that you already deal with, we are happy towork with them also. For larger jobs, we ensure quotes aresought to avoid any unnecessary surprises.REGULAR INSPECTIONSMaintenance inspections are carried out at regular intervalsfour times per year. These are focused on proactivelyensuring that the property is kept in an attractive and wellmaintainedcondition, and to ensure that your tenants arecaring for your asset appropriately.Tax AdvantagesThere are many legal deductions that you can make tooffset rental income, and if the investment is well structuredyou may find some significant savings. We recommendthat you consult a specialist tax advice prior to purchasingor renting out your property. All our management feesare tax deductible, as are rates, insurance, bank interest,landlord insurance, repairs and maintenance.INSURANCE INFORMATIONMany standard insurance policies do not cover the specificrisks often associated with rental properties such asmalicious damage or theft by tenants and their guests.We offer insurance to ensure peace of mind for ourlandlords investment properties, however we wouldencourage you to talk to your insurance company or brokerabout options available to you.It is important to note that such specialised insurancefor landlord situations are complimentary to your existinghouse insurance and do not replace it.FREQUENTLY ASKED QUESTIONS:How long does it take to rent out my property?The demand for rental properties in Christchurch istraditionally strong. So long as the property is wellpresented, has good heating and is priced and marketedcorrectly, it usually takes around 2 to 3 weeks to securegood tenants.What is the likely rental amount for my property?We will advise you of a ‘fair market rental’ which will be afigure based on what similar properties are currently rentingfor.As part of this process we communicate with you afterour inspection with a detailed report including photos ifnecessary.IN AND OUT-GOING INSPECTIONSIn addition we prepare a detailed Pre-Tenancy InspectionReport for each new tenant including chattels. Thisclearly sets out the condition of your property at thecommencement of a tenancy. We also photograph everysurface, room and any relevant areas inside and outside theproperty including garages, sheds and gardens.At the end of every tenancy, a detailed and final inspectionis completed to compare the state of the property to that ofwhen it was first rented to the tenant, taking into account‘fair wear and tear’.http://www.facebook.com/bayleyspmP R O P E R T Y M A N A G E M E N T