October 6, 2023
Owning rental property is often seen as a gateway to financial freedom, but what many don't tell you is that it can also be time-consuming. Between screening tenants, handling maintenance, and staying abreast of regulations, property management can easily become a full-time job.
This is where casual letting comes into play - a perfect solution for property owners who are short on time but not willing to completely relinquish control over their property.
What is Casual Letting?
Casual letting is a form of property management where the owner handles some aspects of the property, such as maintenance and tenant relationships, but outsources specific tasks like tenant placement and initial vetting to a professional letting agency. Unlike full-time property management services, casual letting offers more flexibility and less ongoing commitment, making it an ideal option for property owners who are time-strapped but still want to be involved in managing their property.
Why Choose Casual Letting?
Flexibility
One of the main advantages of casual letting is flexibility. Full-time property management often involves long-term contracts and commitments, but with casual letting, you can opt-in or out of services as you see fit. Whether you need help for just a month while you're on vacation or require assistance only during the tenant-finding stage, casual letting accommodates your needs.
Cost-Efficiency
Casual letting is often more cost-effective than its full-time counterpart because you only pay for the services you need. For example, if you are adept at managing maintenance but loathe the tenant vetting process, you can outsource only the latter, thereby saving costs.
Professional Expertise
While you may feel confident at property management, professional agencies are experts in their field. They have the resources and know-how to find the right tenant for your property and ensure all legalities are in place, thus mitigating risks and potential future issues.
Time-Saving
The biggest boon of casual letting is the time it saves. Property management is time-intensive, and casual letting allows you to focus on other priorities - your day job, family, or even other investment opportunities - without the burden of day-to-day management.
How Does Casual Letting Work?
Initial Consultation
Most agencies will start with an initial consultation to understand your needs and how best they can assist you. The initial consultation is the time to discuss what responsibilities you'd like to keep and which ones you'd like to delegate.
Service Tailoring
Based on your needs, the agency will tailor their services accordingly. Some may offer packages that include different combinations of services, such as advertising, tenant vetting, and initial lease agreement setups.
Execution and Handover
Once you agree to the terms, the agency will execute the services, keeping you in the loop throughout the process. After a successful tenant placement or other agreed-upon services, control is formally returned to you, unless you opt to continue with more services.
Metro NZ Property Management
At Metro NZ Property Management, our specialised casual letting services efficiently secure high-quality tenants for your rental property. Leveraging our team's extensive expertise in property management, we streamline the tenant acquisition process, allowing property owners to focus on other critical aspects of their investment.
Fee Structure
Our fee for casual letting is a transparent 2-week rent letting charge, which encompasses a range of essential services:
- Multi-Channel Advertising: Our advertising strategy utilises various platforms to maximise property exposure to a targeted tenant pool.
- Arrange personal viewing sessions for the pre-qualified prospect tenants.
- Tenant Vetting: We undertake a rigorous vetting procedure to ascertain tenant suitability and reliability.
- Credit and Background Checks: Comprehensive credit and background checks are conducted on all prospective tenants to mitigate risk using latest tools and technologies..
- Tenancy Agreement Preparation: We draft all required tenancy agreements in compliance with our in-house legal team standards, safeguarding your interests and assets..
This fee structure offers a comprehensive yet streamlined solution for property owners seeking to expedite the tenant placement process without ongoing property management obligations. Our services are focused on delivering optimal results with maximal efficiency.
Reliable Casual Letting Services
While casual letting offers numerous benefits, it's crucial to choose an agency carefully. A poorly managed tenant placement can have long-lasting implications. Therefore, look for agencies with a proven track record, like Metro NZ Property Management.
Streamlining Property Management
Balancing property management with other life responsibilities can be a juggling act. Casual letting emerges as a perfect compromise, offering property owners the much-needed respite without relinquishing total control. It's a flexible, cost-effective approach that allows you to benefit from professional expertise while saving time for other aspects of your life. With agencies like Metro NZ offering customised services, casual letting is the modern answer to traditional property management challenges.
Whether you are a seasoned property investor with a large investment properties portfolio or a homeowner renting out a single property, casual letting provides a tailored solution that aligns with your lifestyle and needs. So why not reclaim your time, all while ensuring your property is in safe, professional hands?
For more information on how casual letting can benefit you, contact Metro NZ Property Management at 09 391 4642 or email info@metronz.co.nz.
