Property Managers in Wellington

What Wellington property management actually costs

The headline 8-10% rate on a $550/week Wellington rental is about $44-55/week, or $2,300-2,900 a year. Add the letting fee (1-2 weeks rent, typically $550-1,100), inspection fees ($75-100 each), and maintenance coordination markups, and the real annual cost lands at $3,500-5,500 before any significant repairs. Wellington's wind and moisture issues mean maintenance call-outs are not uncommon.

Five questions to ask before you sign

1. Is the management fee fixed or percentage-based? Most Wellington managers charge a percentage of rent received, not rent owing. In a vacancy month you pay nothing - but their incentive to fill fast is not as strong as you might think.
2. What is your process when rent is late? The Tenancy Tribunal takes time. Ask exactly how many days overdue before they serve a 14-day notice, and how many before they file. Delays cost you money.
3. Do you charge separately for inspections? Some managers include inspections in their fee. Others charge $75-100 per visit on top. With the maximum of one inspection every four weeks, know the real frequency and cost before you sign.
4. What is your maintenance markup policy? Ask directly: is there a markup on tradie invoices? If yes, ask it to be waived or capped, and ask for prior approval on jobs over $500.
5. What is the exit notice period? Wellington management agreements typically require 30-90 days written notice to terminate. Some have a minimum initial term. Read the contract before you sign it.

How to switch property managers in Wellington

Give written notice as required by your management agreement. The actual handover is simpler than most landlords expect. Under s.47 of the Residential Tenancies Act, you (or your new manager) must give the tenant written notice of the new contact person and where to pay rent. Bond held by Tenancy Services stays with the tenancy - no re-lodgement needed. Request the full tenant file from the outgoing manager: the tenancy agreement, original application and references, all inspection reports, and the maintenance history. You are entitled to all of it.

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