We look into the historic data of each property and/or portfolio when we take over management, this give us the ability to look at what has been occurring and quickly address and remediate any ongoing problems that have not been resolved. In many cases we find that we are able to rectify problems or issues that have been ignored by the previous manager, this of course results in the tenants having confidence in us and being happier with the responsibilities of their tenancy.
One example of this method’s effectiveness; we had taken over a property from a very large and famous commercial property management company. Along with the property we had inherited an ongoing battle in regards to unpaid opex and rent between the previous manager and a restaurant tenant. The restaurant tenant was asking for more information in regards to what he was getting for his opex money spent. After looking through historical documents and communications we had quickly ascertained that the previous property manager had not attempted to look into the tenant’s complaints and had only relied on threatening legal action under the Deeds of Lease and the Property Law Act 2007. Once we had completed our survey and report, we had addressed the tenants complaints which they were within their rights to make, (however did not remove their responsibility to pay rent or opex).
Within three weeks of taking over the management we had settled a three year long dispute and had all arrears up-to-date which amounted to more than $ 45,000.00 in rent arrears and opex arrears, we were also able to retain a valuable tenant for the complex. This is because New Zealand Property Practice takes a holistic approach to commercial assets and their performance; Our members are legally trained, meaning that even though they understand the Law and each party’s liabilities they don’t jump to litigation their understanding and experience allows them to produce solutions in the best interest of the Tenant and Owner.