Meadowbank Property Management Team
Jasdeep
Jador
Head of Property Management
027 274 4944
Property Manager 0274 319 532
Property Manager 027 431 9528
Property Manager 027 204 1882
Bindi Dalal
Myria Iolamo
Aria Chow
Hello
Welcome to the July edition of our RENT – Property Management magazine from the Meadowbank branch team. Inside you will find the latest property management market data for the areas across Auckland, along with tips and information about our Property Management services.
We pride ourselves on delivering the very best service and expertise – the kind that allows you to relax knowing that your property is in good hands. With an energy-filled and professional team supporting us we can deliver the best possible outcome for your investment property; we are locals and we understand the market in Meadowbank and its surrounds better than anyone else. We are passionate about working with the public and our ability to build long-standing relationships with our tenants and landlords is a culmination of our exceptional customer service skills and friendly and approachable personalities.
We are dedicated to delivering a first-class service by acting efficiently and effectively and always treating people with respect. At Barfoot & Thompson Meadowbank our multilingual team is dynamic, diverse and driven. Our team works closely together to deliver exceptional service with compassion and commitment, combined with depth of knowledge and expertise.
Call in and see us at the Meadowbank Office or give the team a call. We would be delighted to help with your Property Management needs.
The Meadowbank Property Management Team
Latest News
Auckland’s Quarterly Rental Update
Auckland
rents start year on the rise; Plus - the latest ‘pet-friendly rental’ data
Samantha Arnold, Property Management General Manager
Auckland rents edged up again in the first three months of 2024. Barfoot & Thomspon says pricing data from more than 17,500 properties the agency manages across the region shows the average weekly rent reached $671.35 in March 2024, up 5.69% on the same time last year.
This surpasses a 5.27% year-on-year increase recorded in December 2023 which, at the time, was the highest since 2015.
Barfoot & Thompson’s General Manager for Property Management Samantha Arnold says the numbers indicate the market has entered a new pricing cycle.
“Over the past six to nine months the Auckland rental market has been emerging from a slower period of pricing change after hovering around 3% yearon-year for some time.
“What we are seeing now is more familiar to the market pace experienced eight to ten years ago, in 2014 to 2016.”
She says the tension between high demand for rental properties and constrained supply continued to be a major factor.
“This is not a new dynamic for Auckland, but it has been compounded by several coinciding factors including the return of long-term visitors and international students, record high net migration and the ongoing impact of 2023’s extreme weather events, which saw more people in need of housing and fewer houses available due to storm damage.”
Property owners have also been grappling with higher interest and operating costs, says Arnold, with relief through interest deductibility and tenancy rule changes still to come into effect.
Across the region, rents rose fastest in the Central City apartment market as it continued its post-Covid rebound. The average rent there reached $573.74 in March, up 8.56% on 2023. Rents rose slowest in Rodney, up 3.75% or $24.23 on March 2023, to $670.07.
By size, one-bedroom properties attracted higher rent rises, up 6.87% on last year, while three-bedroom properties saw less price pressure than other sized homes, up 5.00%.
The latest data on renting with pets
Barfoot & Thompson tracks a number of property attributes across the agency’s rental portfolio, including whether a rental is ‘pet friendly’.
“The Government recently announced several changes to the Rental Tenancies Act related to pets, prompting us to take a look at what’s happening in the market now, prior to the changes coming into effect,” says Arnold.
“The latest figures show that around 14% of Auckland rentals allow pets. This equates to around 2,500 properties of the 17,500 plus that we manage in Auckland.
“We’ve been providing advice and guidance about renting with pets to both our property owners and renters over many years to encourage growth and are excited by what the latest changes
to the Act will mean for renter choice and property owner confidence.”
The data shows the North Shore had the highest proportion of pet-friendly rentals as of March 2024, with around 21% of properties welcoming pets, while it was hardest to find a pet friendly rental in Central Auckland apartments, where less than 2% of properties allowed them.
Comparing average weekly rents between properties that do and don’t allow pets, Barfoot & Thompson also found that pet friendly rentals were already drawing a premium of around 10% more than the average for a home in the same area, however this varied greatly between different parts of the city.
“City and city fringe properties were priced around 20% to 40% higher when pets were allowed. However, that pricing may also reflect those properties, such as apartments, are typically less suited to pets, so those that allow them may be larger or unique in a way that naturally demands a higher price.”
Pet lovers in Pakuranga and Howick pay the lowest premium to rent with their furry friends, just 1.12% higher than the local average.
“Another thing we noted is the contrast between the number of fenced properties which can be a particularly important factor for dog owners.
“Fewer than 2% of rental properties were listed as fenced. And while we expect the real number is higher, it highlights an aspect renters and property owners need to consider before deciding if a home is suitable for some types of pets.”
Auckland Region Rental Summary
Jun. 2024
Market Facts and Figures
AUCKLAND AVERAGE
Central Auckland
East
Eastern Suburbs
Franklin/Manukau Rural
North Shore
AUCKLAND REGION AVERAGES
Jun. 2024
Rodney
Pakuranga/Howick
West Auckland
Rodney
HOT PROPERTY?
TOP TIPS
Why work with a Barfoot & Thompson Property Manager to take care of your rental investment?
In our recent editions we have discussed the steps involved in finding the right tenant, preparing your property for rent and how to manage the risks of being a Landlord. This month we explore the best time to buy an investment property and what you need to do to be ready to snap up that next big bargain.
Remember we have more information and a range of videos to help whether you are buying, selling or renting. Find out more about our Property Management service on our website at this link: barfoot.co.nz/landlords/howwe-help-landlords
For many years, the Auckland housing market has been hampered by too few homes being chased by too many buyers. This left those wanting to be landlords disappointed with their options. The current market can mean hot deals for investment properties so now is the time to see what is out there. Of special interest might be properties that need significant repair or upgrades but are in desirable locations.
Our tenant survey found that 85% of respondents considered location to be an important consideration in choosing a rental property. Commute time is also a factor with 59% saying that how close they are to good schools and work can be a deciding factor when thinking about staying for over a year in a property.
Get your toolbox or your team sorted
While dated properties can make financial sense over time as they increase in value, be aware that maintenance and upkeep may mean more headaches than newer places. If you don’t enjoy the chance to be handy make sure you have a short list of reasonably priced experts in plumbing, electricity and general property troubleshooting. Have enough savings on hand to tackle big and small projects because unexpected repairs can affect revenue even if you have rent rolling in.
Only engage reputable tradespeople as you are a Person Conducting a Business or Undertaking (PCBU) and as such, must ensure ‘so far as is reasonably practicable’ the health and safety of workers and that other persons are not put at risk by the work.
If you are a busy professional, you might want to consider the option of bringing on a property manager.
Get it in writing
If you cannot afford a property on your own choose partners and investors wisely. Hire a professional solicitor to draw up contracts and agreements, even if you are working with trusted family members. This can prevent arguments, misunderstandings and legal woes down the line if everything is agreed upon in writing from the outset. This includes profit sharing, maintenance liabilities and other topics that require clarification.
Rentals can monopolise free time
Give serious thought as to the amount of time you want to dedicate to this investment. If you are planning on self-managing your rental property, consider it a sure bet that you will be spending hours dealing with tenants, sorting repairs and reviewing financials. If your free time is a precious commodity then you may want to consider engaging one of our experienced Property Managers, this is especially true if you intend to acquire more properties as time passes. More properties can mean more demands on your free time.
There are so many benefits to owning an investment property. Don’t let the handful of potential pitfalls scare you off! As long as you do your homework and are a responsible landlord it can mean a solid revenue stream for years to come.
more info: barfoot.co.nz/landlords/help-and-tips
Auckland Suburbs
Market Data
The following pages show a summary of rental market data for suburbs across Auckland for the last six months, as sourced from the Ministry of Business, Innovation & Employment NZ - Tenancy Services for the period shown.
Please do not hesitate to contact any of our Property Management team if you would like more information, we would be delighted to help you with your Real Estate needs.
*The data shown on this page is sourced from the Ministry of Business, Innovation & Employment NZ - Tenancy Services for the period shown. Summary totals include averages for some types of property not shown. The market rent information comes from bond data. The results may not be a true indication of the rental market, as they only reflect properties where bonds have been lodged in the previous 6 months. More information is available at https://www.tenancy.govt.nz/ rent-bond-and-bills/market-rent/market-rent-explained.
Market rent in Albany
Market rent in Birkenhead
Market rent in Chatswood
Market rent in Epsom
Market rent in Glen Innes
Market rent in Grafton
List with a good listener.
At Barfoot & Thompson, we understand that every buyer’s needs are unique, and so we take the time to personalise our service accordingly. Once our salespeople have sat down with you to determine the right type of buyers for your property, we’ll produce a customised marketing plan that works with your budget and timeframe. We want you to
be 100% confident and happy with the process, so we’ll never force you into a rushed decision. We believe getting you a result is only half the job –you also need to be completely satisfied with how we get there. No wonder we make one in three of Auckland’s property sales every day. Check out our website to find out more.
barfoot.co.nz
Market rent in Herne Bay
Market rent in Mairangi Bay
Market rent in Milford
Market rent in Mt Wellington
Market rent in Northcote
Market rent in Orakei
APARTMENT/FLAT
Market rent in Point Chevalier
Market rent in Rothesay Bay
HOW WE HELP LANDLORDS
Stress-free property management?
No worries.
Owning a rental property can provide outstanding returns over time, but can also be a time consuming and stressful business.
From screening tenants, negotiating rent increases and getting calls about blocked sinks, you know what a hassle it can be. But when you leave the hassle to someone else, you want to be confident that your property is being well looked after.
That is where Barfoot & Thompson’s Property Management team comes in.
Our team of dedicated property managers removes the stress of maintaining your investment. We’ll find the right tenants, collect and review rent, arrange maintenance and more - all for a very competitive agreed rate.
Managing over 15,500 properties across Auckland and Northland, we have our finger on the pulse of the latest rental rates and access to quality tenants. By choosing a company awarded Best International Lettings Agency 2017/18, you can be sure your property is in safe hands.
“The industry is dynamic and it is evolving. We are seeing high immigration levels impacting the market. Our average tenancy is now almost 2 years, and changes in legislation mean that poor management can not only affect your revenue, it can affect people’s lives. With our knowledge of both the industry and the rental market in Auckland and Northland, we are committed to providing consistent and reliable service to investors and the people renting our properties.”
Kiri Barfoot
Our services
The best thing we offer is peace of mind, but we have a range of other great services too! Whether you have a single rental property or a full investment portfolio, Barfoot & Thompson Property Management has a service to suit your needs. We also offer body corporate and commercial property management services for your investment.
Full property management service
If you’d like us to take all of the stress off your hands, go for our full property management service. This includes:
• An online marketing campaign for your property, including free listing on barfoot.co.nz. realestate.co.nz and trademe.co.nz
• Automated booking system for prospective tenants to streamline the viewing of your property and 24/7 response to inquiries.
• Credit and reference checks.
• Interviewing and rigorous screening of suitable prospective tenants and completion of residential tenancy agreement.
• Bond lodgement with the Bond Centre.
• Dispute resolution on your behalf.
• Income collection and reporting.
• Thorough inspections of your property including an initial inspection with your new tenant, regular follow up inspections at a pre-arranged frequency, and a final inspect1on before the tenant moves out.
• Arrangement of property repairs and maintenance, including advice and assistance on the best way to rectify any damages, deal with tenants, and approach the Tenancy Tribunal if required.
• Access to professional tradespeople at reduced costs.
• Advice on current market conditions and rental rates as well as regular rent reviews.
• Guidance around changes in legislation to ensure your property meets the required standard.
• Access to the latest technology (such as our trust account management system) to ensure your money is safe at all times.
Cost: A competitive fee of 8.5% + GST (9.5-% + GST if the property is furnished) of all money collected and any repairs and maintenance we carry out on your behalf. The fee is usually tax deductible. Extra costs may apply for credit checks and marketing upgrades.
Cost: A competitive fee of 8.5% + GST (9.5-% + GST if the property is furnished) of all money collected and any repairs and maintenance we carry out on your behalf. The fee is usually tax deductible. Extra costs may apply for credit checks and marketing upgrades.
Why choose us?
Why use a property manager?
Apart from the time and hassle it takes to find tenants and arrange repairs and maintenance, there’s a lot of legislation to understand and processes to follow - especially if a dispute with tenants arises.
By using a property manager, you can be sure that an expert is looking after your investmentso when issues arise they are managed quickly and effectively.
Why choose Barfoot & Thompson?
As an investor you want to know your rental property is in safe hands. By choosing us, you’re choosing a company that has been awarded Best International Lettings Agency 2017/18. You’ll have the strength of Auckland’s largest and most trusted real estate company behind you and peace of mind that property management experts are protecting your investment.
The power of Barfoot & Thompson
Barfoot & Thompson is New Zealand’s largest privately owned real estate company - still run by the Barfoot and Thompson families after more than 90 years.
We manage over 15,500 rental properties and with dedicated property managers in over 60 branches, we have the experience and scale to help you.
Knowledge, experience and service
We know the property market inside out, including the intricate legislation and legalities behind property investment. We provide you with the highest quality advice so you understand the obligations, responsibilities and rights for you as a landlord and for your tenants.
Leaders in our market
We’re committed to being the best real estate agency around. We are thrilled to be recognised nationally and internationally for providing outstanding service including being awarded Best International Lettings Agency 2017/18.
• International Property Awards
• Best International Lettings Agency 2017/18
Best Real Estate Agency Asia Pacific - 2 years running
• Best Real Estate Agency Marketing Asia Pacific 2017/18
• REINZ Large Real Estate Agency of the Year
- All Disciplines 2017
It doesn’t cost as much as think
Our complete service comes at a very competitive property management fee of 8.5% + GST or 9.5% + GST if your property is furnished, of all monies collected and any repairs or maintenance carried out on your behalf. There are no additional charges for inspections, representation at dispute resolutions or when your property is vacant. (N. B. There may be fees for credit checks, additional inspections or marketing upgrades).
The right tenants, the right rent
Our wide-reaching network, rigorous selection process and market knowledge ensures you’ll get the right tenant and be paid the right rent for your property. We conduct regular rent reviews, so you’ll see an increase in rent to match any changes in the market. And with our large tenant portfolio we will do our best to ensure your property is always occupied
You can trust that your money is in good hands
Handling of your rental funds is managed through our head office accounting department. Unlike many other property management companies all money collected on your behalf is held in an audited trust account so you know where it is at any time.
We work hard for you
From the very beginning, we work hard to ensure your investment is well looked after. Here’s an overview of what you can expect when you choose to work with our expert team.
Initial consultation
We identify the management service that meets your needs and help you complete all the paperwork needed.
Account activation
We set up your account in our management system. This includes all the details for your property. All future quotes, repairs, maintenance and information associated with your property will be linked to this account and can be sent to you easily whenever you require it.
Marketing
We organise all the marketing for your property (in line with your agreed marketing strategy and budget). This can include advertising copy, signboards, photography, floorplans and video.
Finding tenants
To locate quality tenants, we organise online advertisements on barfoot.co.nz, realestate.co.nz, and trademe.co.nz. This service is free of charge for you.
Property viewings
We conduct viewings of your property by appointment on your behalf. Our Book-AViewing system helps us manage these efficiently for you. Ask us for more information.
Tenant applications
We know that the success of your investment lies in finding you a quality tenant. We thoroughly check every tenant that applies to rent your property. This includes looking at employment references, past rental history, credit checks, tenancy tribunal checks and proof of income.
Approval
Once we’ve screened our shortlisted applicants we present these applications to you so that you can make an informed decision and select the most suitable tenant for your property. Everyone is different and you may or may not want to be involved in this part of the process; the decision is yours.
Notification
Once an appropriate tenant has been selected, we promptly notify them of the decision to avoid losing them to another rental property.
Preparation
We organise all final paperwork, monies and lodgement of the bond. If your property is vacant or a tenant is vacating it will be cleaned, the state of all chattels is documented and any necessary maintenance is completed.
Pre-inspection
We complete a full inspection of your property, including water readings and body corporate information (if applicable).
Handover
Once a full inspection is completed and recorded, we meet and hand over keys to your new tenant on commencement date.
Receiving rent payments
Unlike many property management companies, we collect rental funds from your tenants and hold them in an audited trust account so you know where your money is at any time.
Find out more about what a property manager can do for you, visit barfoot. co.nz/howwehelp
Find out more about what a property manager can do for you, visit barfoot. co.nz/howwehelp
FAQs
From the very beginning, we work hard to ensure your investment is well looked after.
Here’s an overview of what you can expect when you choose to work with our expert team.
How much will your service cost me?
Barfoot & Thompson charge a flat fee of 8.5% + GST (9.5% + GST if the property is furnished) of rent collected and any repairs, maintenance, and renovations carried out, or invoices paid on your behalf. There is no extra charge for routine inspections, administration, monthly and end of year financial statements and mediation or any appearances we make at the Tenancy Tribunal on your behalf.
Our fee is very competitive, and these costs may be tax deductible.
How often will you pay me?
We pay you monthly or twice a month, whichever you prefer, by direct crediting funds into your account. A comprehensive monthly statement detailing funds collected and disbursed on your behalf can be posted or emailed to you anywhere in the world. Invoice copies of accounts paid are included.
Do you collect a bond?
Yes. The Residential Tenancies Act requires that no more than four weeks bond be collected. Unless otherwise agreed, Barfoot & Thompson consider two weeks to be the minimum that should be paid. The bond is paid before the tenant takes possession and held by the Bond Centre until the tenant vacates.
Will it cost me to advertise the property?
No. If you have a full property management contract with us, our Option A marketing package is complimentary. You may choose to upgrade your marketing package at an extra cost.
Will I be charged for a vacant property?
No.
What if my tenant doesn’t pay the rent?
Barfoot & Thompson rent collection is computer monitored, enabling us to act very quickly when a rental payment is missed. The debt recovery process commences immediately. While we take every possible action to resolve the matter, in some cases it may be necessary to take the tenant through the mediation process or to the
Tenancy Tribunal. If this is the case you will not be charged for our time.
Does Barfoot & Thompson guarantee me for any loss of rent?
No.
I will be moving overseas - can you handle all repairs?
Yes. Our property managers use a range of contractors who are highly skilled, competitively priced and quick to respond to our calls. If you have a preference for any particular tradesperson we would be pleased to accommodate this.
Legally, if you are overseas for 21 days or more, you are required to appoint someone to manage your property.
How often will you inspect my property?
Inspections are carried out on a regular basis. The frequency should be discussed with your property manager at the commencement of the management. Be sure to check what your insurance policy states as well, as they do generally have a set frequency. Pass this onto your property manager and we will set it as what is required.
What if I want to sell the property?
Your property manager can arrange with any of our experienced sales staff to have the property appraised and then listed for sale. This can be a very delicate situation and it is important that it’s handled professionally and efficiently. It is our job to ensure you and your tenants interests are protected. Your property manager will be happy to walk you through the process at any time.
Do you offer a Body Corporate service?
Yes, we offer full body corporate services. Ask our property managers for more details.
Do you offer commercial property management services?
Yes, we offer comprehensive property management services for commercial investments. Ask our property managers for more details.
Meet the team
Anton Fatkin Branch Manager 021 175 1938
I am a focused and driven individual, who listens carefully and works tirelessly to deliver results. I am convinced that with the right structures and systems in place, nothing will slip through the cracks.
I have over 10 years of real estate sales experience across residential, industrial and commercial sectors and I bring the same passion for service excellence to my management role. I managed other high-performing real estate offices prior to taking up the position of Branch Manager of the Glen Innes and Meadowbank branches and I use my knowledge and experience to assist the branch in providing a superior service to our clients.
I completed a Bachelor of Commerce and Bachelor of Property conjoint at the University of Auckland. I am also an Associate Member of the Real Estate Institute of New Zealand (AREINZ), a status awarded to individuals for their high standard of professional excellence in the real estate industry.
Outside of work, I have competed in Muay Thai Kickboxing for several years and represented New Zealand at the highest level at World Amateur Tournaments (IFMA) in 2010 and 2011. My other interests include surfing and playing golf.
Not being franchised, Barfoot &Thompson branches are supported by the sophisticated computerised listing system that enables 1,800+ salespeople across more than 80 branches, to view and have access to any listings as soon as they are released. Also, the Property Management team uses a top-ofthe-range, fully financial management system across their entire portfolio of properties. Systems and people are two of the key reasons why Barfoot & Thompson sells more than one in every three Auckland properties.
If you’re thinking of buying or selling or you require Property Management services, feel free to call Barfoot & Thompson Glen Innes. The experienced and friendly staff will be happy to assist you on your journey. Alternatively, you can contact me anytime on 021 175 1938 or afatkin@barfoot.co.nz
Property Management team
Jasdeep Jador
027 274 4944
Aria Chow
Manager 0274 319 532
Bindi Dalal Property Manager 027 431 9528
Myria Iolamo
Manager 027 204 1882
Residential Sales team
Dan Barry 021 649 181
Mary Du 021 181 8133
Maggie Li 021 057 5855
Gova Vetharaniyam 021 025 75381
Mel Barry 021 021 78880
Daniel Duan 022 108 4008
Sue Liu 021 884 722
Amy Wilson-Chan 021 952 511
Charles Benedict 021 2022 595
Peter Hutson 0272 488766
Chira Ngamlerd 027 225 3570
Sam Bowen 027 524 0123
Brenda IngramJohnson 021 640 152
Paul Qu 021 043 3666
Maree Currie 021 1894 489
Sean Lee 021 717 283
Linda Reid 021 724 969
33 St Johns Road, Meadowbank, Auckland 1072
Property Management 09 528 3632
Residential Sales 09 528 1105
Email meadowbank.rental@barfoot.co.nz
barfoot.co.nz/meadowbank
Barfoot & Thompson