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Information for new clients

Information for new clients

How it works.

Everything you need to know if you’re new to Stable − from how we go about attracting and vetting tenants to our process for collecting rent and paying it to you.

1 Consulting with you

As your property manager, our relationship starts with in-depth consultation with you about your rental property. This means that we’re on the same page and understand your expectations from the get go. We’ll consult with you regularly throughout the management and definitely when the current lease is coming to an end. 

2 Conduct a market appraisal

Pricing your rental property is key to getting the most out of your investment. Price it too low and your return on investment will be less than it should be. Price it too high and your property will sit empty (tenants are smart too). We know the Wellington market inside out and will make sure your property is pitched perfectly. Book a rental appraisal.

3 Marketing and showing your property

We’ll advertise your property for rent on Trade Me and this website with plenty of photos and a full description that shows your property to best advantage. Advertising in community newspapers is another good option. All promotional material is run by you first so you can provide feedback and make suggestions. You always have the final say as to how your property is positioned before advertising starts.

We personally show your rental property every time. This gives us the opportunity to meet the people we are going to have a relationship with and enables us to ‘screen’ prospective tenants before we get a formal application.

For the time your property is empty, we’ll visit it every couple of days and take a walk around inside to make sure everything is in order.

4 Negotiating with and vetting tenants

We conduct a thorough reference check on all prospective tenants once they have completed and signed an application. This includes verbal checks with their previous landlord and their current employer. If these are successful, we proceed on to credit checks. All our credit checks are run through Centrix. This enables full financial disclosure, tenancy history and access to the Ministry of Justice website. If an applicant doesn’t have a rental history or credit history in New Zealand, we make a decision about the tenants based on our experience and consultation with you. (Some clients prefer to be totally hands off and let us make the decisions. That’s fine too if that works for you.)

If an application is turned down, our policy is not to tell the applicant the reason. This minimises complaints and the potential for future problems. We never give out your details. Remember, sometimes it’s best to have an extra week’s downtime rather than the potential of a problem tenancy.

5 Signing the lease agreement

We have a comprehensive, multi-step lease agreement which complies with the Residential Tenancy Act (1986). Our lease agreement has been written to protect you as the owner, the tenant as the occupant and us as the managing agent. Every possibility is covered so there can be no surprises for any party.

We undertake a comprehensive entry inspection of your rental property once the lease is signed. This includes taking multiple external and internal photos of the property and double-checking the list of chattels to make sure the property is rent ready for the start of the tenancy. The entry condition report is given to the tenants when they collect the key to make sure we are all on the same page when the tenancy starts and there are no grounds for miscommunication down the track. Keys can be collected after 12pm on the lease start date and only after the lease agreement has been signed by ALL leaseholders and the bond and advance rent has been paid.

6 Managing the tenancy

We will keep a close eye on your property throughout the tenancy to make sure things go as smoothly as possible – and to act quickly if something goes awry. We’ll keep you informed every step of the way with monthly statements and regular reports and make ourselves available to answer any questions you have, give advice, or simply to catch up. We’ll provide you with a log in to the secure part of this site so you can access your account information whenever, wherever you like.

Rent is paid by tenants fortnightly by automatic payment into our non-interest-bearing trust account and paid to you fortnightly. Rents are reconciled every day and we have a zero tolerance policy to arrears. This is made clear to our tenants at the very start of our relationship with them.

We carry out inspections every 12-16 weeks and email you a detailed report that includes photos where appropriate, so you can keep up to date with the condition of your property and how it’s being lived in. We use intelligent technology to conduct our inspections, so you get a more comprehensive report in less time.

Property maintenance is authorised and completed promptly in accordance with our property management agreement. Our obligation to our clients – both owner and occupants – is to make sure the rental property is maintained in great condition; the tenants expect this as they are paying market rents. This is in your interests too. Making sure your investment is kept in tip-top condition helps protect and grow its value.

7 Overseeing the exit proceess

Leases are typically for a year, although this can vary depending on the type of rental property and your requirements. We’ll contact you towards the end of the tenancy to discuss what you want from your property or portfolio for the coming year. We’ll talk about potential rent return and the best strategy for you and your property. Once that’s agreed, we’ll communicate with the tenants to let them know the terms for the following year and, of course, to find out what their needs are. If they want to continue to rent your property and renew/resign the lease, the new terms of engagement are set out and a new lease negotiated for signing.

If the tenants indicate they want to move on, we’ll let you know straightaway and, in the appropriate timeframe, market the property to minimise downtime between tenancies. We will remind the vacating tenants of their obligations (as set out in their lease agreement) as to how the property should be presented for their final inspection. No bond is refunded until we are 100% satisfied that all is in order.

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