More 5-Star Reviews For Connect Realty Ltd

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When it comes to small businesses, the success of the business depends heavily on word of mouth.  With Connect Realty Ltd being a local privately owned company we understand that positive reviews & testimonials from our clients help you make a decision about whether to use our services.  

Here are some of the more recent reviews we have received On Google:

Connect Realty Ltd team have managed my property in Greerton for 4 years now and I have found their service to be reliable and timely. They accommodate my out of town visits and requests for assistance without skipping a beat. Thank you Team Connect for making rental property ownership possible. Judith Hunter

Chris and her team have been a pleasure to work with, quality service and competitively priced. Thanks. Heath Coleman

We have thoroughly enjoyed working with Chris and her team and are very happy with the tenants that Connect Realty recommended for our property. They are very efficient and quick to respond on any of our queries and nothing is too much trouble. It has definitely taken the stress out of being a landlord . Diane Coates

Chris and her team have always provided great service for my rental property in Tauranga. Highly recommended! Sydney Crocker

Have had Connect managing my property for almost 3 years. Very efficient, regular updates, sourced good tenants and unlike other agencies do not try and make additional money from constant repairs, instead arranging quality maintenance as and when needed. I wish they had an operation in Wellington so I could move my business to them there. Stephen Davies

Connect Reality have managed a number of rental properties for us over the years and we could not be happier with the service provided. Chris and her team have years of experience and in depth industry knowledge. Exceptional high standards are maintained through clear and concise policy and practises. From vetting tenants, property inspections, maintenance, rent collection and insurance through to compliance issues. Highly recommended.  R. Bawden

I would highly recommend Chris and her business. Very professional and experienced staff and anyone I have mentioned it to has only got great things to say. They have an amazing commitment to property management and have high standards and attention to detail! Again would highly recommend:)  Sarah Pearson

Chris is lovely! I’ve had the opportunity to speak with her a few times and would recommend her without hesitation to anyone who needs property management services in her area! Todd Breen

Chris and her team have managed my rental property in Tauranga for five years. During that period the house was never empty, there were four changes of tenancy over the period and every time the new tenants moved in a day or two after the incumbents departed. I am in the military and am often overseas and un-contactable, Chris dealt with all tenant issues and arranged maintenance, and contractor access with minimal input from me, which was excellent. Chris managed steady rent increases and tenants were always vetted so no issues with missed rent or damage. Chris was also very helpful when it came time for me to sell the property, allowing access for estate agents and helping to smooth things over with the tenants during the sale process. I would highly recommend Chris and her team to any investors who need reliable management of their property with minimal input. Nick Foster

Positive testimonials and reviews strengthen our credibility and our business and I am grateful to all the clients that have taken the time to write kind words on our website, Google and Facebook.

If you have any queries about our services please do not hesitate to call.

First-home buyers borrowing deposit from parents

Shaking Hands for first home buyer borrowing money from parents connect realty blog

According to figures out from Australia this week, in 2017 over 55 percent of first home buyers sought help from their parents to fund their mortgage.  This is a huge leap from 3.3. percent in 2010, and experts say that New Zealand is likely to be the same or even higher. One mortgage lender even suggests that 60-70 percent of New Zealand first home buyers had parental help, and for those under 30 years of age this figure jumped to 80-90 percent because of small KiwiSaver investments.

These statistics really highlights the difficulty for young people to get on the property ladder.  When taking out a home loan to buy a house, it’s typically recommended that you borrow no more than 80% of the property’s value, which means having a 20% deposit.  With average house values in Tauranga sitting at $700,000 a first home buyer would need $140,000 for a deposit. A cheaper home, for example $500,000, will still need a deposit of $100,000.  Given these figures it is easy to understand why first home borrowers need to look to family to borrow their deposit.

The negative side to the story is that most of these loans are on a “pay it back when you can basis” and interest free, which can make it difficult for parents that are also moving onto the next stage of home ownership.  It is also highlighting the gap between the haves and the have-not. Given home ownership is falling in main centres, and many more adults are renting, there is going to be an even wider gap between those who can afford to own property in New Zealand and those who will have to remain renting through their life.

For the full article see the NZ Herald – 

Bank of Mum and Dad: Broker says first-home buyers borrowing $50k to $80K from parents

Top 4 Questions Landlords Ask Property Managers

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We have been in the Property Management business for many years, and over these years there have been some key questions that we get asked regularly by landlords and property investors.  So to make it easy for any potential investor or new Landlord, here are the top four questions we get asked:

1. What are your fees?

At Connect Realty we like to keep things simple by using one flat rate.  Traditionally other companies may charge you commission on: maintenance work, monthly admin fee, attending mediations, payment of insurance, completing inspections, payment of rates, advertising packages, credit checks, attending tribunal and payment of body corp fees.  Our rate includes everything and there are no extra fees for any of the above!

2. How Much Will My Property Rent For?

We offer a free Comparative Market Analysis report on the potential rental value of your property. Given our many years of experience in real estate and property management in the Bay of Plenty we know the market inside out.  We can advise you on current rentals for your property type and area.  Our experience has proven invaluable to our Landlords.

3. How Is Maintenance Handled?

We arrange regular planned maintenance, such as minor repairs and preventative maintenance, to minimise problems and ensure your property remains in peak condition.  To carry out this work we use a variety of contractors who are reliable, consistent and offer value for money.  Quotes can be obtained for most maintenance.  Clients can also stipulate a maintenance spending limit or choose to have no maintenance carried out without their approval.  In this case clients will be contacted for all maintenance issues.

The types of renovations, repairs and maintenance that should be carried out can generally be classified as urgent, short term and long term maintenance. Generally urgent and short term issues are those day to days issues which are essential for health and safety and to comply with provisions of the residential tenancies Act.

Long term issues are not considered urgent and clients can address and plan for these at some stage down the line, often between tenancies. These issues are generally communicated to clients after inspections.   Addressing these issues makes the property more tenantable and often improves the likely weekly rent. These issues might include replacing vinyl and carpet which may be damaged or old, repainting the home in attractive colours or patching a wall or room.

Our flexible property management service allows clients to have an agreement with us in advance with regards to who organises what maintenance when it is necessary.  This means you will always know where you stand and you will not have unnecessary costs that you were unaware of.   

4. How Do You Market My Property and How Soon Will It Be Rented?

Our marketing plans includes promoting your property on the main real estate websites www.trademe.co.nz and www.realestate.co.nz and our own website www.connectrealty.co.nz .

The average timeframe to secure tenants is 14-28 days. When tenants vacate they are required to give a minimum of 21 days notice and we begin marketing for new tenants immediately.  The majority of properties we manage have new tenants secured before existing tenants have vacated.  This is especially true in today’s market where there is a shortage of quality rental properties.

Hopefully these answers will help you with those key questions.  For any further property investment advice and/or information about the services we offer as Property Managers please call our office 0800 333 221.  We are always here to help.

Predictions for Tauranga Rental Prices For 2018

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A question we often get asked, by both tenants and landlords, is will rents rise in the coming year?  The simple answer is yes, they will.  Here are some of the reasons why:

As you would have read over summer, Tauranga, just like Auckland, has a serious rental shortage, especially quality rental homes. The shortage is a simple case of supply and demand.  Our region continues to attract record numbers of new ‘migrants’ to our suburbs, but due to lending restrictions, increasing mortgage rates, and a significant increase in house prices, it is difficult for many of these people to buy a home in Tauranga.  Therefore, many families moving here are looking for short or long term rentals.  Their search is made even more difficult because many existing tenants are choosing to stay in their rentals long term, knowing that quality rental properties are hard to come by.  So the usual demand for quality properties is exacerbated by increased migration and fewer home buyers, and this situation will unlikely change in the foreseeable future.  

Other factors leading to rents rising include lending restrictions on investors and the new Government changes around rental property compliance.  The Labour Government will also be cracking down on so-called ‘negative gearing’, where costs such as interest payments on a residential investment property can be used to offset tax owed on income from other sources.

Additionally, over the last few years there have also been extra costs for landlords such as rates and insurance increases,  and costs associated with drug testing of properties.  These factors, combined with more landlords exiting or choosing not to enter the market, means demand is high and supply is low, which leads to increasing rental prices.

Of course rising rents isn’t something new, the Trade Me Rent Price Index (a monthly analysis of the rental property market across NZ) shows that between December 2016 and December 2017 average rent rose 7.3%  in the Bay of Plenty.  However tenants shouldn’t be alarmed, as per our tenancy contracts, rent cannot be increased for 180 days from the start of the tenancy and a landlord is required to give 60 days notice of any increase in rent.  Usually rent increases for our tenants are small and gradual.

If you are a Landlord in this turbulent property market, we are happy to discuss your options for a long-term strategy.  Having the right plan and processes in place will to enable you to get through the next few years’ challenges and come out the other end in a stronger position. Remember, property investment is a long game and short-term losses or gains should form part of your overall long-term strategy.

For any other rental investment advice please phone us for a chat, we are happy to work through any questions you have and we offer free rental appraisals for landlords.