Bolitho Property Management’s income comes solely from the property owner – we do not accept letting fees from tenants or commission from contractors, as we work for the property owner only.
Bolitho offers real value for money, with no hidden costs. We have four basic types of charges:
- Commission on rent collected – our Premium Comprehensive Management Package includes a Rent Guarantee Package for peace of mind.
- New/renewal lease fee.
- Property inspection fees.
- Handling charge on accounts paid on the owners’ behalf for maintenance and repair work.
You can see and print our Fees page PDF here Fees Page 2018
|Premium Comprehensive Management Package.||8.45%|
|An all-in-one premium service|
|Our rent guarantee can save you between $375 – $3200* in lost rent.|
|Reference checking (landlords, employer, Tenancy Tribunal, credit, etc).||Included|
|Internet advertising on Trademe and Bolitho.co.nz||Included|
|For Rent sign on the property at start of marketing campaign.||Included|
|Emails to our extensive database of tenants.||Included|
|No letting fee for Tenants = reduced vacancy times.
Indicative savings of $750 – $1500 of lost rent due to reduced vacancies with each tenancy.**
|Collecting metered water usage charges – we save you approx $5-10 a week by reading dedicated water meters ourselves and charging tenants.||Included|
|14 day notice to remedy and tenancy breach, if needed.||Included|
|Tenancy Tribunal representation.||Included|
|Collection of unpaid Tribunal orders.||Included|
|Tenants able to book a viewing online 24/7.||Included|
|Bond collection and management.||Included|
|Rental advice and rent review.||Included|
|24/7 website access to view your inspections, invoices, and statements.||Included|
|Annual financial year-end summary – save on accounting fees.||Included|
|Process and oversee insurance claims.||Included|
|Monitoring Rents – though with our rent guarantee it’s never your problem.||Included|
|New and Renewal lease fee.||$100|
|Comprehensive ingoing/outgoing and routine inspections||$48.50|
|Organising and overseeing – Repairs and Maintenance.||8.45%|
* Based on Average Rent of $375 per week.
** Based on Historical Guarantee payments to owners.
All Prices are plus GST
On revenue collected for rent and water usage we charge 8.45% plus GST including our full Rent Guarantee Package. (Note that our Rent Guarantee can only apply to tenants we have chosen.)
This is our main property management fee and covers ongoing contact with the tenant, administration including statements, rental advice, rent reviews, bond management, tenant invoicing (rent, water usage, insurance claims etc), and our 24 hour a day emergency maintenance phone line.
New/Renewal Lease Fee
We charge $100.00 plus GST for handling a new lease or lease renewal.
We normally sign tenants up for a minimum of 12 months as most Nelson properties are long term investments. When filling a property we advertise on Trademe.co.nz and on our own website. In addition to this we send out an email advert to our database of tenants searching in the area, erect a “To Rent” sign in a prominent position on the property. We screen tenants carefully; when at the viewing and finally with thorough reference, employment and credit checks to ensure that the chosen tenant will care for the property and pay the rent consistently. As you can imagine, this costs us much more than the new lease fee. We again charge $100 plus GST when we negotiate a further fixed term tenancy with the existing tenant – which helps avoid vacancies between tenants, maximising your returns.
We do not charge a letting fee to tenants for two reasons. Firstly, we believe that quality tenants do not need to pay a letting fee; they have options – this allows us access to a larger pool of quality tenants. Secondly, we believe that to be paid by tenants creates a conflict of interest – whilst we care for our tenants, as property managers we are employed by our owners only.
Inspections are performed routinely every 3 months, at a cost of $48.50 plus GST per inspection.
During this inspection we are checking for any obvious water leaks or other damage (either incident related or gradual). We test fire alarms, check up on cleaning and garden maintenance and read the water meters. We replace smoke alarm batteries and standard screw-in and bayonet light bulbs at no charge. These regular inspections not only ensure that obligations are met in the eyes of our insurance company but allow us to explore or address any issues (or potential issues) before they become a problem.
Handling Charge – repairs and maintenance work
We charge a 8.45% plus GST handling charge on all accounts paid on behalf of the owner for repair and maintenance work that we organise for your property. When organising maintenance we receive the maintenance request from the tenant, we check that requests for appropriateness, send a work order to a contractor, monitor the work order to ensure it is completed on time (24 hours for emergency, 5 working days for non-urgent maintenance), check the quality of the work done, and pay accounts. With larger jobs we organise quotes, seek owner approval, and liaise with tenants and contractors.
This can save you money! Our contractors give us discounts (this varies and might be on labour or materials) PLUS our experience means we know what things should cost and have strong relationships with suppliers, so much so that many owners reports bills seem smaller!
We have a 24 hour a day service desk that tenants can call with urgent maintenance requests. We have plumbers, electricians, glaziers, locksmiths and an arborist who are contracted to provide a 24/7 call out service so emergencies are dealt with as soon as possible. We have negotiated supply agreements with these contractors which include performance standards, preferential hourly rates and discounts on materials supplied. We use trained or qualified contractors to do our work and hold them accountable to a high standard.