| 53 T T Kelly Deeks Service to landlords Summit Property Management manages more than 2000 homes and holds the largest database of prospective tenants in the Nelson, Tasman, and Marlborough regions. PROPERTY Summit Property Management Providing specialist knowledge and service to landlords and a sound return on their real estate investment, Summit Property Management is the largest and most preferred property management company in the top of the South Island, with multiple branches throughout the Nelson, Tasman, and Marlborough regions. Summit Property Management has been in business since 1992. A family business alongside sister company Summit Real Estate, Summit Property Management has taken its results focused, stress-free property management solution across the top of the South from Stoke to Nelson city, Richmond, Motueka, Blenheim, and Picton. Today Summit Property Management manages more than 2000 homes and holds the largest database of prospective tenants in the regions. Summit Property Management general manager Stewart Henry says there is definitely more demand than supply of rental properties at the top of the South, and landlords have been under pressure from the reduction in deductibility of interest expenses which has come in over the past couple of years. “The intent was to allow more home owners to buy rather than investors but it backfired,” he says. “It costs landlords more to own a rental property and now there aren’t enough properties to go around for private tenants.” As the previous Government phased out interest deductibility, the incoming Government was committed to phasing it back in over a period of time. Under the coalition agreement, this process will start with a 60% deduction in 2023/24, 80% the year after, and 100% in 2025/26. “This will create more opportunities for investors to re-enter the market and it’s a good sign for tenants,” Stewart says. “As we look forward to a drop in interest rates in the next 12 months, Summit Real Estate is already seeing people out there looking for more investment property, so that is another good sign for tenants.” Landlords have also been put under pressure by amendments to the Residential Tenancies Act which have removed the 90 day no fault termination notice and even though there are new provisions for ending tenancies for antisocial behaviour, landlords need to have issued three notices to the tenant within a 90 day period then apply to the Tenancy Tribunal to terminate the tenancy. “Landlords have become reluctant to give people a chance these days, but we can definitely help. We have rigorous criteria for prospective tenants which involves background screens, credit checks, employment verification, and previous landlord reference checks. An essential part of all our successful tenancies involves conducting a detailed entry condition report on the property, meaning we take note of every detail in every room at the beginning of the tenancy. Filling out this report avoids future problems, especially during the bond refund process.” At Summit Property Management, every property manager is part of the neighbourhood they look after, so they are looking after properties in the suburbs they work and play in, always close by, always on hand, and always keeping an eye on your property. Property management is as much about people as it is about property,” Stewart says. “Our property managers are all NZQA qualified and well equipped with knowledge and communication skills to deal with all aspects and challenges surrounding property management. We are dealing with all types of people and finding solutions for them.” Summit Property Management provides assurance to landlords that their property is being managed by competent professionals in a cost-effective way. Over more than 30 years of operation, the team knows the challenges faced by property investors and remain focused on representing their clients. frontline plumbing • Renovations • New Installations • Drain Clearing • Home & Business • Hot Water System Any job, big or small, we can help! Certified plumbing, gasfitting and drainlaying. 03 546 5131 / 027 635 6139 contact@flp.co.nz www.flp.co.nz PO Box 1505, Nelson Proud to be the plumber of choice for Summit Property Management “Totally Dependable” Electrical Services • Oven repair specialists • Electrical repairs (24/7 callout service) • EV Chargers • Air condi�oning, home ven�la�on, security and CCTV • Floor hea�ng • Domes�c, commercial and industrial wiring • Design build projects Proud to be involved with Summit Property Management 20 Elms St, Wakatu Industrial Estate Ph 543 9222 www.laserelectrical.co.nz
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