In New Zealand we have a wide range of restaurants to choose from. They all reach the legal bar as an eatery but there are many there that opt to go above and beyond to blow the bar out of the water. They do not raise the bar like this because of legislation. They choose to do it to provide their customer with superior service and increase their return on investment.

This same concept can be applied to rental properties. Whilst having a legally habitable dwelling to rent out is perfectly fine and should be applauded there is also an option here to go above and beyond what the powers that be in Wellington dictate are the minimums required.

To do so would increase the appeal to potential tenants and also allow to increase the rental price being asked. One key item to note is that when adding benefits like chattels or improvements to the property to cost it out to ensure that the landlord does not overcapitalise which could in turn hamper their ability to care for the property where needed by less funds available which could eventually also hamper the tenant experience, defeating the whole purpose.

Cost out improvements and then get a knowledgeable property manager to advise on the impact to appeal and rent that improvement would have. With that knowledge in hand the landlord can then assess what would be most beneficial to the tenant, property and landlord i.e bang for buck.

At the same time, simply having better customer service can raise the appeal of the property. By the landlord, and property manager if there is one, being more attentive, responsive and prompt to communicate with the property can itself be more desirable and have a higher return on investment. Good tenants would chose to opt for this superior service and best thing is it would mostly be free/cost effective. To reply to an email quickly or arrange required maintenance diligently does not cost extra, it simply requires the thoughtfulness to carry out such work.

To carry out these two tasks will put the property at a higher bar then the competition and ensure that regardless of where the property cycle is it will always be at the pointy end of performance in terms of appealability, return on investment and tenant/customer satisfaction.

Kōwhai Coast property management can help with both areas to promote property performance here whether it is property improvements that need to be costed up or advice on how best to communicate and assist tenants, contractors and anyone else that is involved in the rental property. Simply reach out to see how we can help today!