88 | Experience counts in rental world Fraser Wilkinson: “I think we’ll see another 18 months of pressure before things stabilise.” PROPERTY Manage My Rental T T Kelly Deeks “We’ve seen ups and downs before, and the data helps us understand what’s happening and plan ahead.” As rental prices continue to fall across the Wellington region, Manage My Rental owner Fraser Wilkinson is relying on data, experience, and a measured longterm view to guide his clients through one of the toughest property cycles in recent years. Fraser, who describes himself as a “bit of a data geek,” says the rental market has been in a downward spiral, with economic indicators all trending in the wrong direction. “Unemployment is sitting at 5.2%, GDP growth is around 0.9%, and CPI is holding at 2.1%,” he says. “Those figures might look steady enough, but immigration is the big one – net migration is down to around 13,000, from roughly 69,000 previously – and that’s had a massive impact on demand for rentals.” With fewer people arriving in New Zealand, and the Government tightening public spending, Fraser says the country has become a less attractive destination for migrants, and even many landlords are heading across the Tasman. “A lot of our landlord clients are moving to Australia, and that’s having an effect on the supply side too,” he says. “Every property is still rentable, but not every owner is willing to drop the rent to what the market will now pay.” From its base in Lower Hutt, Manage My Rental manages around 600 properties from Pukerua Bay, through central Wellington, and up to Upper Hutt. Fraser says staying close to their portfolio is key to delivering responsive service. “Kapiti is really busy, but too far away for us. We want eyes on every property we manage so we can respond quickly. That’s better for landlords and tenants alike.” Having worked through multiple economic cycles during 15 years in business, Fraser takes a pragmatic view of the current slowdown. “These numbers will improve again. We’ve seen ups and downs before, and the data helps us understand what’s happening and plan ahead. I can’t predict the future, but I can use solid information to form a theory, and that gives our clients confidence that we know what we’re talking about.” Fraser believes rents haven’t yet hit the bottom. “I think we’ll see another 18 months of pressure before things stabilise,” he says. “Some landlords have already pulled out of the market, especially those who bought when prices were high and are now facing reduced yields. For others, it’s about managing through – reviewing budgets, talking to the bank, maybe moving to interest-only mortgages to weather the next 12 months.” At Manage My Rental, tenant selection and property care remain the top priorities. “We’re very selective about what we take on – it’s not about just getting a bum on a seat,” Fraser says. “We’d rather lose a management contract than put an unsuitable tenant into a property. The same goes for owners. We only take on properties we can stand behind.” Fraser’s advice to landlords is simple: know your numbers. “Understand your financial position, budget carefully, and keep on top of interest rates and maintenance costs. Planning is everything right now.” Founded in 2010, Manage My Rental focuses solely on residential property management in the Wellington region. The company’s small, experienced team offers hands-on management, comprehensive marketing and vetting processes, in-house maintenance, and a zero-tolerance policy for rent arrears. “Our job is to protect your investment,” Fraser says. “When the market gets tough, experience and attention to detail make all the difference – and that’s where we excel.” businesscentral Each edition priority delivered to your door. . Stay informed; we work with business owners and decision-makers across all economic sectors, pro iling their success. i ; i i i i - ll i , ili i . www.waterfordpress.co.nz/subscriptions . . . i i 03 983 5525 525 Your Business, Your Industry, Your News. Volume 6 | Issue 2 | April 2021 www.waterfordpress.co.nz ‘Excellence in Energy’ Taranaki’s Todd Energy will have a key role to play as New Zealand moves toward a low emissions economy. Page 8 Waikato farmers Dean & Ang Finnerty have expanded their dairy cow operation into a successful goat milking enterprise as well PAGE 10 Turning challenge into opportunity AUTUMN 2022 www.waterfordpress.co.nz Volume 6 | Issue 3 | July 2021 www.waterfordpress.co.nz Making waves Back on track New Zealand hydrofoil maker Armstrong is generating interest around the world with its high performance products. Work on the ambitious NZCIS facility in Upper Hutt is progressing well after Covid disruptions. PAGE 70 PAGE 10 Healthy delivery A new elective surgery facility in Hastings will provide a big boost to the region’s operating capacity. PAGE 52 Volume 6 | Issue 5 | December 2021 www.waterfordpress.co.nz Cheers Boys! YoungWellington irm3Māori Boys is creating a buzz with it’s ground-breakingWai Manuka natural beverage. PAGE 45 Passion and pride New Plymouth’s Energyworks has forged a strong reputation in 50 years of business. PAGE 64 Seaview upgrade CentrePort’s SeaviewWharf facility is set for a major upgrade to bring it up to international standards. PAGE 14 Proudly Supporting Manage My Rental Mike Fryer 027 580 5995 mike@chillzone.co.nz Proudly Supporting Manage My Rental 04-526 6895 admin@select.net.nz www.select.net.nz SECURITY CCTV HEATING LIGHTING RESIDENTIAL COMMERCIAL
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