Frequently Asked Questions for Wellington Property Investors.
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How do I move to Copo
- You choose which management package. Click for choices.
- Sign the property management authority. Click online here.
- Write to all tenants telling them of the change, and that we will be in touch with them.
- Collate and provide us with copies of tenancy agreements for each property, plus rent records showing when each tenant is paid up to.
- We will then Order Healthy Homes Reports for each flat if not already completed.
What will it cost me?
Choice is good. Its important! We have two choices for our management services.
- 10% all inclusive.
- 8% plus extras.
Click here to see details.
How often do you inspect my property?
A the same frequency as your insurance company requires. Anywhere from 3 to 6 monthly.
We are looking for problems with the building that could damage the structure, rather than if the tenants are washing the dishes : -)
Who arranges maintenance?
We arrange the maintenance as it is identified, either by the tenant to us directly, or by us at a property inspection.
Work orders with pictures and detailed descriptions are sent to tradespeople to either carry out work (if under $300, or $500 – you choose the limit) or quote if over budget.
Your preferred trades people can also be used if you prefer. That can be especially helpful if they are very experienced and knowledgeable about that particularly property.
When do I receive the rent payments from my property?
Rent received by us, is paid into your bank a/c twice per month. On the 1st working day of the month, and the 1st working day after the 14th of the month.
A statement is issued with each payment showing how much rent has been received, how many expenses have been paid, and how much has been deposited to your bank.
The 1st of the month statement, also has a copy of all invoices paid for you in the previous month.
These invoices usually have lots of photos of the work carried out.
In April each year, an annual statement is issued to you. This is a document that your accountant will love, as it includes one line per month per property. Each line has the total income and expenses for that month.
What happens if tenants misses rent?
Sometimes an automatic payment from a tenant bounces, or is delayed by a bank holiday. We do not jump down a tenant’s throat on day one.
If rent is not up to date on day 2 we contact the tenant with a copy of their rent records and ask them to transfer rent to us today.
Usually that is the end of the matter. However by day 3 if rent is not yet up to date, or contact has not been received, that means we will be in constant communication until we get a call or reply from the tenant with a plan to get up to date. This is not an expected problem.