Why a Rental Guarantee?
When founding Cobb Property Managment Ltd, the idea of a "Rental Guarantee" started out as a point of difference. We know from the tools that we have and the experience of 25 years choosing excellent tenants, that we can comfortably provide this unique service to our owners.
We maybe the only property management company in Auckland offering this service where we as the agents are willing to cover the owner for loss of rent over an eviction period until the tenancy is legally terminated or the property is in our legal posession. There is a small annual fee for the cover (see below), however our base fees are so competitve, that as a total management package, our owners receive great value across the board and particulary for this product titled our "Managers Indemnity Cover".
Rental Guarantee Plus ++
We also now offer a rental guarantee over late rental payments. If your tenant has failed to pay on time, we will pay their rent. For an extra 1% on top of your low standard managment fee, you will never have to worry about the rent not being paid on time and with the additonal "Managers Indemity Cover " income flow will never be interupted.
Tribunal Assisted Eviction
Tribunal assistance is required when rental arrears becomes serious enough that the tenant will simply never be able to re-pay the arrears in a reasonable time frame together with their weekly rent. This mainly occurs when the problem has not been addressed early enough, in some known cases up to 10 to 14 weeks has lapsed before action is taken.
Overstocked Property Managers can leave these situations to get out of control and drift from the protocols of the eviction process and leave the owner exposed to greater financial loss, mainly due to managing too many properties, leading to delayed tribunal applications, inconsistent tenant contact and sometimes the inexperience and inability to read the situation and mediate a amicable vacating strategy.
Evictions Can Be Prevented
Certain legal pressures can be applied and delivered diplomatically; which can save everybody a lot of time and money.
Our Manager's Indemnity (Rental Guarantee Standard) is an effective low cost insurance policy that is grouped with three other cost saving services in Section 5 of our Property Management Agreement for only $150 plus gst per annum.
For all clients within this scheme, we agree to pay for the loss of rent incurred until the property is vacant (some special conditions apply).
* For more information please contact us below.