Property Management
Property managers - everything you need to know
We go through what a property manager will do for you and your investment property and some of the fees you can expect to pay for these services.
Reviews
8 min read
Author: Andrew Nicol
Managing Director, 20+ Years' Experience Investing In Property, Author & Host
Reviewed by: Ed McKnight
Our Resident Economist, with a GradDipEcon and over five years at Opes Partners, is a trusted contributor to NZ Property Investor, Informed Investor, Stuff, Business Desk, and OneRoof.
A property manager takes on the day-to-day responsibility of managing your rental property.
This includes finding and vetting tenants, collecting rent, and undertaking inspections.
Hiring a property manager comes at a cost, but I think it’s worth it.
In this article, you’ll learn our top 5 property managers’ picks (in no particular order), along with unique points about them.
Before we get into the list, I should mention that here at Opes we have our own property managers; they’re called Opes Property Management.
I’m not including them in the list of the top 5 property managers in Christchurch, even though I own the company!
Because if I say Opes Property Management is “the best” in New Zealand, you’ll think “he’s biased!”
So, we’re keeping them off the list, but you might like to check them out anyway, especially if you’re buying a New Build, because that’s what Opes Property Management specialises in.
Quinovic is one of the longest-standing property management companies in the country. They started all the way back in 1988.
Quinovic has 35 offices across the country, although most offices are in the North Island. Only Nelson/Tasman and Christchurch are covered in the South Island.
In Christchurch, Quinovic has two separate offices: one in Merivale, the other in Riccarton.
Tessa Keeling has owned the Riccarton office since 2006, and she’s made the list because I’ve worked with her for many years.
Tessa says her small team of 6 manages “all sorts” of properties. This includes apartments, townhouses, standalones, units and lifestyle blocks.
Here’s Tessa’s advice for landlords:
“Engage a property manager before you purchase. That way they can provide rental appraisals and advice. This ensures you find a great investment property in a great area that will attract a great tenant.”
Rachel Hurford started Max Property Management in 2010.
She and her husband, Andy, remain directors of the small team in Christchurch. They now work alongside the general manager, Michelle.
Max Property tends to deal with townhouses and apartments across Christchurch. Of their 820 properties, 70% are New Builds.
Here at Opes my team rate these guys and insisted they be on the list.
On top of that, the company has a good reputation online. They get 4.5 stars on Google reviews.
Max’s property managers are hands-on. They aren’t afraid to change smoke detectors, tighten door handles or change shower hoses. This results in fewer work invoices being sent to landlords.
Most recently, the team have introduced a rental guarantee. Rachel says this is because their rent arrears are super low and they have confidence their tenanting process will keep this up.
Max Property’s management fee is 8% + GST. There is no commission on maintenance or a charge for tenancy renewals.
Rachel’s advice for landlords:
“Choosing the right property manager is key to the success of your investment. Be sure to do your due diligence and ask lots of questions. Don’t use the first rental appraisal provided; get at least two rental appraisals before you choose a property manager.”
Next on the list is Carol Champ. She’s the owner of her property management business, Xclusive Property Management.
Xclusive’s small team of 8 property managers oversee 650 investment properties. They specialise in New Builds in Christchurch, Selwyn and Waimakariri districts.
Most of Xclusive’s homes are standalone family homes, although townhouses account for about 20-30% of its portfolio.
All Xclusive property managers have their Property Management Certification. They are also individually accredited with the Real Estate Industry of NZ (REINZ).
Carol says the reason for these formal accreditations is to make her company stand out. This is so investors can feel reassured their investments are in good hands.
Carol’s advice for landlords:
“If you’re a private landlord:
1. Treat your investment as a business
2. Tenant Selection – do not let your heart decide on tenants. Do strict background enquiries and reference checking
3. Have a basic knowledge of the Residential Tenancies Act
If you want to use a Property Manager:
1. Do your due diligence on who you are handing your investment to
2. Check services offered”
Next on the list is Hamish Wilson, owner of A1 Property Managers. When you meet Hamish the first thing you’ll notice is that he’s an exceptionally nice guy. On top of being a property manager, he's an ex-policeman, and a builder too.
A1 started in 1999, and in the 20-something years since it now manages 1600+ properties.
Unlike other full-service company names on this list, A1 focuses on property management. There are no add-ons … and they aren’t out there selling and buying residential homes.
Also, because Hamish owns the business, he has a stake in delivering really good service. This can work in the property investor’s favour.
In terms of the properties A1 manages, they look after a range from boarding houses to New Builds. They also manage higher-end executive properties throughout Canterbury.
Hamish’s advice for landlords:
“Surround yourself with experts. Create a network of trusted experts and leverage off their knowledge to guide your journey. It’s hard to keep abreast of every market, so tap into those that are fully immersed in it. Naturally, I am going to say a good property management company is pivotal to that equation.”
Last up is the well known Ray White – a large nationwide business with 196 offices throughout NZ.
Ray White is a full service. They deal with buying and selling properties as well as property management.
Ashleigh says she manages a huge range of properties … from 1 and 2-bedroom apartments to high-end standalone homes.
She looks after properties in Christchurch City and beyond. For example Lyttelton, Selwyn, Darfield, and then further out through Waimakariri.
Ashleigh has stood out in such a big firm. From my experience she is a breath of fresh air in the property management industry. She’s a good communicator and works proactively for her landlords and her tenants.
She’s also been recognised in her own company:
Ashleigh’s advice for landlords:
“Make sure you find a company and/or property manager who will really listen to your needs and that you can communicate effectively with. You are choosing someone to look after what is usually your largest investment and it’s so important to make sure that company and person is someone you feel comfortable with, who aligns with your values and who will work hard for you and your property’s specific needs throughout the evolving legislation and market changes.”
The right property management firm for you will be partly based on your property.
But it will also be someone who you think will be the best fit “personality-wise”.
Why? Well, a property manager is likely to be someone you, as an investor, will have a relationship with for many years. So the chemistry, and the communication, have to be right.
Ideally, it’s not just someone who can do the job well – you want someone you can work well with too.
Managing Director, 20+ Years' Experience Investing In Property, Author & Host
Andrew Nicol, Managing Director at Opes Partners, is a seasoned financial adviser and property investment expert with 20+ years of experience. With 40 investment properties, he hosts the Property Academy Podcast, co-authored 'Wealth Plan' with Ed Mcknight, and has helped 1,894 Kiwis achieve financial security through property investment.