Essential considerations for owners
Buying Queenstown investment property? Think about these:
1 - KNOW YOUR GOALS | Pure investment? Holiday home? What property you buy will depend on your goals /use for it. We can advise on all renting scenarios in Queenstown.
2 - LOCATION, ALWAYS! | Properties close to town rent well in Queenstown, and generally command good views. Semi rural properties tend to be more popular with families or as holiday homes. Accessibility and parking are good factors to think about if you're wanting to lease the property, as are aspects such as the ratio of bedrooms to bathrooms.
3 - CONSTRUCTION | Particularly important in Queenstown's alpine climate with its extreme high and low temperatures: is the build/its materials suitable for the elements, are there good heating sources in place?
Presenting the property for rental Properties that are well maintained attract and retain tenants. They also justify a good rental price, so present your investment property in a clean, tidy and well-maintained manner. Installing heating is a huge bonus in Queenstown.
Renovating? Be practical rather than decorating according to your personal preferences - e.g. choose durable carpets, fixtures and fittings; don't over-capitalise; choose reliable whiteware brands that can be serviced locally.
To furnish, or not to furnish? Our property managers will be happy advise, according to your specific situation. Generally, (partly) furnished properties do well in Queenstown because many tenants are here for a short time (12 months or less), and do not move to town with furniture.
How do you appraise a property for rental? Our property appraisals are FREE! We visit the property and assess key factors, including:
With this information, the Property Manager compares the property with market standards/trends and provides a rental estimate range.
How do you set rent levels? Marketplace trends are powerful and partially dictate rental accommodation rates. through the simple economics of supply and demand. Queenstown is also characterised by its seasonal peaks and troughs, which impact rents. Our recommendation to owners is that there is always a balance to be had, and rent levels should be fair, reasonable and in line with the market. Rents are reviewed every six months, in consultation with the property owner.
How would/does QAC advertise my rental property? In several targetted ways, each designed for maximum impact!
How would/does QAC maintain my rental property? Our in-house Maintenance Manager inspects your rental regularly, performing on-the-spot "little jobs" such as tightening door handles or latches.
Moisture and condensation can ravage homes in Queenstown, so our Maintenance Manager is vigilent in checking for moisture damage, and can run a moisture reading for free (independent contractors would charge around $500 for this service). Larger maintenance and repairs, gardening and domestic cleaning are out-sourced to our network of reliable contractors - NO disbursement fees! Any work over $350 (NZD) is cleared with you, the owner, before being undertaken.
What about insurance? Insurance is an essential component to owning an investment property. We advise our clients to speak with insurance brokers Rothbury Insurance Brokers (Central Otago). They can then provide a menu of options, recommendations and pricing according to circumstances.
What to look for in a property manager? Property management is a business that specialises in looking after your investment property. Being a good property manager is a lot more than finding tenants; it's about property management, maintenance and marketing.
At QAC we have a mild obsession with service and work hard to provide services that are excellent value for money. Our business culture is deeply rooted in integrity and we believe in the necessity to innovate in order to be the best at what we do. Part of being the BEST is ticking these property management boxes: