Property Management
Oxygen is part of Professionals, Redcoats Limited
oxygen.co.nz
Ask any seasoned landlord or property investor and they will tell you that deciding to own an investment property is a big decision. There are many factors to take into consideration – knowing what type of property to buy and in what area, understanding the rental market, knowing the tenancy laws, knowing when to invest in maintenance and where to spend it to result in investment growth. But more than anything, they will tell you that knowing the amount of time that's involved and knowing the value of that time that's important.
This is where we come in.
Why Use a Property Management Company? Free up your precious time
Don’t spend your weekend and evenings fixing leaks, taking phone calls and holding property viewings - let us do it for you.
Go on Holiday
Did you know that if you own a rental property in New Zealand and will be out of the country for more than 21 consecutive days then by law you must appoint an agent who can act on your behalf. This means that if the tenant has any issues they would normally bring up with you (the landlord), they will need to contact your agent about it. We can act on your behalf while you're away enjoying yourself.
Smoke Alarms - From 1 July 2016, smoke alarms must be installed in all rental homes.
Be confident knowing that you are compliant with the RTA
Insulation - Landlords are required to provide a statement on the tenancy agreement for any new tenancy commencing 1 July 2016 about the location, type and condition of insulation in the rental home. All residential rental homes in New Zealand will be required to have insulation installed by 1 July 2019. Health and Safety - under the new legislation, landlords are classed as PCBU's. It's important to understand what impact this can have on you and your tenants.
Get back to what you enjoy
Let us be the experts in managing maintenance requests, organising tradies, collecting rent, and coordinating viewings while you get back to your day job. Managing a property might seem simple while it’s all running smoothly, but it only takes a hiccup or two to really eat into your time and sanity.
Oxygen's Property Management Service
Oxygen employs over 50 staff across five locations Hastings, Napier, Wellington and the Hutt Valley.
We work under a shared service structure with Professionals Redcoats Ltd.
We strive to provide a world class property management service. We utilise our collective buying power to get great deals for landlords and bodies corporate.
We use specialist letting and viewing agents. Our tenant vetting system is proven.
Did you know? We provide independant, unbiased body corporare secretarial services.
We provide 24 hour coverage for urgent tenant situations.
We collect all rent into an audited trust account with intrernal controls and checks.
We use integrated software systems for customer management, tenant services & maintenance.
We review rent annually based on current market conditions.
We supply professionally prepared monthly reports, detailing income and expenditure.
Our people live in the areas we work, we know the market and understand it.
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"I would like to thank Kelly and the team at Oxygen for their super friendly and professional service while managing our property for us. It was our first time as landlords and we had lots of questions but they were so helpful and it really felt like a weight had been taken from us and like all we had to do was watch the rent hit our account each month. Tenants were of the highest calibre meaning our investment was protected and it felt like a real service, with Kelly and the team just wanting to make our lives easier. RECOMMEND!!" Campbell - WELLINGTON
About Oxygen The success of our business and the trust that we have gained from our clients and tenants is reflected in the size of our team. Today Oxygen employs 50 highly motivated property professionals who all have a 'can do' attitude and provide friendly and efficient service to our customers. It is this approach that continues to see property owners, investors and bodies corporate entrust their properties to us, to deliver a property experience that is cost effective, efficient and stress free. Oxygen has chosen to set its own guidelines for the type and number of properties it chooses to manage, meaning we focus on quality, tenant-able properties. Setting standards relating to property type and maintenance means that Oxygen managed properties will provide better quality rental homes. Oxygen is a division of Redcoats Limited. Redcoats are licensed real estate agents operating within the Professionals group co-operative. Redcoats have been in the business of property for over 30 years and offer a professional service aimed at fulfilling every real estate requirement in the residential and commercial markets. Our team are socially minded and are encouraged to become actively involved in the community. So whether it’s a sausage sizzle, a car wash fundraiser or a school gala day, chances are, one of our team will be there!
“ “I managed my own property until 2007. Then I had a problem when I was overseas and Karen at Oxygen took over and sorted it out brilliantly. I had intended to resume managing it myself when I returned in 2008 but everything was so convenient with Oxygen I just stayed there. I feel they have my best interests at heart and care about what happens to my old home, now my investment property.” Judith - LOWER HUTT
The Oxygen Way As a successful investor you will know that vacant properties affect your rental income and increase the risk of vandalism, maintenance issues and worry. At Oxygen, we have specialised lettings and property management teams set up to alleviate these problems.
Lettings By providing a full letting service aimed at securing new tenants quickly, we are able to manage your property with minimal vacancies. By controlling the process of tenant selection ourselves, we are able to confidentially reject unsuitable applicants. Property Management As an Oxygen client, you will be assigned a property manager dedicated to your interests. This manager will personally manage your tenancy, rent collection and property maintenance. Should a vacancy occur, your Oxygen property manager will work with our dedicated lettings team to re-let your property. Your Oxygen property manager will take responsibility for keeping you informed about your investment. You may have as much or as little information that you wish for your peace of mind.
Maximising Rental Return How do we determine the best rent for your property? We always strive to achieve the maximum rent possible for your property. Many factors affect and influence rents so we always consider the state of the current market when setting a weekly rental rate. Factors we consider include: Demand - We'll assess your property by looking at the type, location, access, number of rooms, level of finish and level of RTA compliance. Market - We'll compare your property to other properties that are currently listed taking into consideration seasonal activity and rent reviews. Statistics - We'll research tenancy statistics, Government statistics and the number of bonds filed. Comparative – We analyse available data from TradeMe, within our own business and have an expert team who have great local market knowledge to compare with your property.
This process enables us to evaluate the optimum rent for your property in the current market.
What if you want to rent your property higher than Oxygen's recommendation? You may choose to place your property on the market at a specific rental figure. However, keep in mind that market demand sets the rent. With this in mind, our goal is to work with you to achieve maximum rent and minimise vacancy. Rent Reviews We will complete an annual rent review of your property to maximise your return on investment. Once a year, we'll sit down down together and discuss what impact a rent increase might have by revisiting the factors above; demand, market, statistics and comparative properties.
Strategies to Minimise Vacancies
If vacant, follow the 4% rule at day 10
If a property has not been let within the 10 days, reduce the asking rent by 4% (provided the property is well maintained and presents well). The investment will produce a better result if let at 96% of the asking rent as opposed to being vacant at 100% of the asking rent.
Optimise Income
Maintain rent at 95% of market value
Experienced Investors know:
Nothing will impact more negatively on property investment performance than having a vacancy. A vacant property means nil income for the investor (and nil commission for the property manager). Maintain the rent at 95% of market value. Properties let just below market value attract tenants who stay longer, have fewer repairs and pay the rent on time.
Rent pw
Days Vacant
Lost Rent
$450
7
$450
$450
10
$642
$450
15
$964
“ “Katy and her team at Oxygen offer excellent service and advice, they are happy to deal with all aspects of property management, have their finger on the pulse and are without doubt superb value for money. I fully recommend them.” Geoff - HAWKES BAY
Preparing Your Property for Tenants Before we advertise your property, there are a few simple jobs that should be top of your list. These jobs will help to prepare your property for rent and attract the right tenants. Windows - By opening curtains and blinds to let the light in, your house will instantly become more appealing. If the neighbours are close by, slat blinds will allow your tenants some privacy. Clean the windows so that they are crystal clear! Clean and tidy outside and in - Make sure you’ve removed any piles of junk or rubbish from the exterior and give the interior a really good clean. A sparkling clean house is always attractive and sets the benchmark for new tenants. Gardens and the exterior - tidy the gardens, mow the lawns and clean paths, gutters, and exterior paintwork. It’s a great time to treat any moss, mould or mildew and will get the place looking fresh and well cared for. Fixing things - Complete a full assessment of the property and fix anything that’s broken. Replace light shades, fix any wallpaper that is lifting, and attend to door knobs, locks, and any leaking gutters. This will save you from tenant complaints down the track. Paint what’s needed - Only paint areas that really need it unless you plan on doing the lot. New paint may only make those areas left unpainted look scruffy. Use light, neutral colours, as strong colours may not be to the tenant's taste and may clash with their furniture. Electrical - Be sure to check that all wiring, switches, and power points are in good working order and safe. This includes any electrical appliances included with the property. Furnishings - Check that all furnishings are clean, tidy and work. If curtains need to be re-hung or mended, take the time to do this now. Keys - Organise two full sets of keys - one for your PM company and one for the tenant. Heating - Check that the fireplace has been cleaned and checked for safety (you’ll need this for your landlord’s insurance) and if you are providing a heat pump, have this cleaned and professionally serviced.
Prioritised to do list Task
Priority A–F A= very important F=unimportant
Step 1. Write down all of the tasks that you need to complete. If they’re
Step 2. Run through these tasks allocating priorities from A (very important,
large tasks, break out the first action step, and write this down
or very urgent) to F (unimportant, or not at all urgent). If too many
with the larger task. (Ideally, tasks or action steps should take
tasks have a high priority, run through the list again and demote
no longer than 1-2 hours to complete.)
the less important ones. Once you have done this, rewrite the list in priority order.
Oxygen is part of Professionals, Hutt City Limited
www.oxygen.co.nz
G:\Marketing\Rentals\_Brands Merge\Collateral\Forms and files\Prioritized to do list
What Our Customers Have to Say
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“My Oxygen Property Manager provides that essential link between the tenant and owner. They manage all those week-to-week tasks regarding maintenance and regular inspections allow me to plan annual maintenance effectively. I would have no hesitation in recommending Oxygen to manage your property.” Cheryll - UPPER HUTT
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“We wish to thank Tai Kekena very, very much for all the help, advice and support you provided to get our tenants back on the ‘right track’ with their rent. Tai’s calm and careful explanation of how the tenancy tribunal works and why it was so important for us to take each step to protect ourselves as landlords are lessons that will not be forgotten. His service, personal attention, and follow-up have been extraordinary. Thank you.” Carole & Paul - HAWKES BAY
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“Oxygen has been managing my investment property for a number of years now and I’ve always been confident in their abilities. Living and working overseas means that communication and trust is critical. With this in mind, I’m pleased to say that Karen and the team at Oxygen have always gone above and beyond. Karen quite often recommends tradespeople for any work needed on my wife's and my residential property in Stokes Valley. I like the way that the team genuinely takes an active interest in my property and I sometimes drop into the Oxygen office in Upper Hutt to catch up with Karen. The best way for me to sum up the service that Oxygen provides is that they manage my investment with care and give me peace of mind.” Matt - AUSTRALIA
Next Steps
Wellington
Lower Hutt
Upper Hutt
Hawke's Bay
Napier
27 Buller Street Te Aro , Wellington 6011 P: 04 472 5746 F: 04 470 7587 E: wellington@oxygen.co.nz
23 Cornwall Street PO Box 30526, Lower Hutt 5040 P: 04 619 1000 F: 04 566 0900 E: lowerhutt@oxygen.co.nz
88 Main Street Upper Hutt 5018 P: 04 527 9754 F: 04 528 3197 E: upperhutt@oxygen.co.nz
308 St Aubyn Street West PO Box 11123, Hastings 4158 P: 06 873 5308 P: 06 835 9816 F: 06 878 2051 E: hawkesbay@oxygen.co.nz
Oxygen Corner 6 Edwardes St Napier 4110 P: 06 873 5308 E: napier@oxygen.co.nz