“Winning multiple national
awards really sets our
property management team
apart as one of the best in
Owner and Property Management Director
To watch our Promotional Video scan this QR Code:
Welcome to Watsons Complete
Residential Property Management Guide
Watson Real Estate Agents and Property
Managers offer a unique approach to
property in the Palmerston North and greater
As an independent, locally-owned and managed
“At Watsons, we value
our reputation for
integrity, trust, and
company, we not only have a personal understanding
of the regional property market, but also the freedom
and flexibility to ensure that your needs come first.
At Watsons, we value our reputation for integrity,
trust and excellent results. We have an absolute
commitment to the highest standards of business
ethics, strong community links and a tradition of
putting your needs before our own.
AWARD WINNING ADVANTAGE
We are the first Property Management office in
New Zealand to take home three REINZ awards
in one year, a feat we have now repeated.
The REINZ Awards recognise excellence and
best practice in the property management sector.
Franchises and independent offices across
New Zealand compete for these prestigious awards,
which are judged by an independent panel Winners are
selected based on multiple criteria, including quality of
customer service, level of industry expertise, innovation,
and commitment to professional ethical standards.
We at Watson feel very proud to have taken the
title of office of the year at the REINZ awards twice, the only
company to do so.
Specialising in outstanding Service
The key benefits Watson Property
Watson Property Management recognise the
Management offers to clients are:
importance of maintaining the strictest confidentiality
of client information and implements procedures to
We are a locally owned and operated family company
with a commitment to provide the highest level of
service at all times.
Our procedures prescribe a structure for management
of quality, process control and achievement of
Ultimately, our people are our key point of difference.
Our Residential Property Management team focus
on being ‘brilliant at the basics’ with a commitment
to staff training, resources and innovation, while never
losing sight of the fact that communication with both
property owners and tenants is the key to growing
We pride ourselves on the fact that we keep our
clients. It is a result of the high level of service we
provide that guarantees customer satisfaction.
“When you win as
a team, you know
you are working
with the best.”
The foundation of our business is to work in
“partnership” with our clients. In that way you
are assured of our understanding your goals.
Property is our lifetime business. We aim to deliver
measurable performance and economic benefit as
a direct result of the service we provide.
Understanding your requirements
We understand when you are choosing a
Property Manager you require experience,
the ability to co-ordinate and control delivery
of services to ensure consistency and high
quality service at all levels.
“I believe we are the
best in our industry,
and our service
We believe your objectives would include the following:
A strong business focus
A high level of communication at all times from
Watson Property Management to ensure that you
are fully informed on all matters in relation to your
Access to specialist capabilities
Provision of accurate timely financial information
Maximising the efficiency and returns of
your property assets
Maintaining a high level of property presentation
Ensuring tenant satisfaction and retention
Building strong tenant relationships
While achieving these objectives, the service
provider must provide:
Guarantee of service
Responsiveness at all times to your
Accurate and timely reporting
Access to specialist insurance
You may have some special requirements of us. We welcome
the opportunity to discuss these with us.
Our people, staff training,
backup and management support
Watson Property Management is 100%
focused on delivering service to our
Our Property Management team are actively supported
by senior management. Our Property Management
team is structured to provide cover when staff are
on leave, ensuring that your interests are overseen
52 weeks of the year.
We have engaged John Crocker in a consultancy /
mentoring role with our company. John is one of
“I am proud to be leading
such a strong team
committed to success
and providing exceptional
the foremost experts in Property Management in
New Zealand, with over 30 year’s experience.
He is available to us on a daily basis to discuss
and advise on any difficult tenancy related issues.
This enables our team to go into negotiations with
absolute confidence and the knowledge to seek
the best possible resolution for our clients.
John is available to run training sessions with
Jenny Parry our Divisional Manager has 7 years of
our team on a regular basis.
experience in the property management field. She
is in the front line right along with our property
Greg Watson our Property Management Director
managers and deals with any problems that might
has been in Property management for over 15 years .
arise by talking through any issues at hand. With
With his wealth of experience he leads the property
her knowledge she leads the team to do great
management division with integrity and a wealth of
things and always offers the service with a smile. If
knowledge. He is always available to answer team
you need further advice to what your property
members questions and strives to pass
manager can provide, just talk to Jenny she is always
his knowledge on to the property
willing to help and has the experience to solve
the tricky issues
Marketing your house
We focus on delivering quality tenants to
DIRECT MARKETING STRATEGIES
our Property Management clients through
Watson Real Estate has contacts within many organisations
our marketing systems and rigorous tenant
selection procedures. We expose our
properties through the following channels:
INTERNET ADVERTISING—A 24 HOUR RESOURCE TO
MARKET YOUR PROPERTY
Being online enables us to present your property in video
or photo form on 24/7 basis. Further, as soon as a tenant
gives notice we can display your property immediately,
maximising exposure to the market before the property
is vacant. We use video tours of your
property online so that we know when a
prospective tenant books to view your home
they will be more likely to rent it. This service is also ideal
for out of town tenants looking to move to the
Manawatu, it means they can view the property 24/7.
Prospective tenants have the benefit through our website
to book viewings online at a time that suits them.
We utilise the services of the two most popular
internet web sites for people looking for rental
property. Specifically, we use www.realestate.co.nz and
our own popular website www.watsonproperty.co.nz.
The internet is the medium of choice for Real Estate
consumers when searching for a property to rent or
buy, and is now a very important part of our marketing
strategy. The internet has far superseded print media, for
enquiry levels. Your video will be both on our website
as well as the ever popular Watson YouTube channel.
and businesses involved in bringing future tenants into this
area. It is important to target these areas directly to find the
best quality tenants, who have usually been vetted at least
once before we meet them. We work with recruitment agentcies, hospital staff, university staff, the Palmerston North
information centre, as well as many others. Our role is to assist
by sourcing and securing quality rental accommodation for
these clients. We email out weekly, details of our available
properties, with links for future tenants to view online. We
also place fliers in local supermarkets.
DATABASE OF TENANTS
Potential tenants are able to submit their requirements via our
website or by visiting our office. These inquiries are logged and,
where possible, matched with available properties.
Our reputation in the market place means we receive a great
deal of walk-in inquiry from people searching for a property to
rent. To assist with the strategy we have rental listings in a
convenient holder on the exterior of our building. They can be
uplifted 24 hours a day 7 days a week, and uniquely contain
colour photos of the homes. Our front office staff are always
available during working hours and are well skilled and trained
to help with any enquiry.
LOCAL MEDIA ADVERTISING
The Manawatu Evening Standard is read by 49,000 people on
any typical day. When necessary, we advertise your property in
the classified section, to enable more coverage. We also
advertise in the Feilding Herald.
Selecting the right tenant
A major advantage of using Watson Real
FINANCIAL HISTORY CHECK, TENANCY HISTORY CHECKS
Estate Ltd, is our ability to reduce risk for our
The financial and credit history of the applicants is
owner clients, by a combination of experience
and comprehensive tenant checks.
Property Managers at Watson Real Estate meet
hundreds of groups of potential tenants per year.
Our selection process starts by forming impressions,
based on experience, when we first meet and show
people through your home. We make sure to always
have a member of staff show the prospective tenant
through your home, this is all part of our tenant selection
OUR APPLICATION FORM
If potential tenants are interested in applying to rent
your home, we have them fill out our comprehensive
Tenancy Application Form. This gives us details of their
personal and business situations, reference details and
authorises us to do a number of background checks. We
also now offer an online application form which
allows tenants to apply for your home 24/7.
The application form has provisions for six referees,
comprising of workplace, personal/business contacts,
and the previous two landlords (if they have been
renting). Our staff contact these referees to ask
pertinent questions to help reduce the risk of any
future problems. We always take a copy of a photo ID
as well as record next of kin details to ensure we always
have a point of contact.
examined using Veda (formerly known as Baycorp).
The applicants also give permission for Watson
Real Estate to check their renting history through
the National Tenancy Database (available to members
of the Real Estate Institute of New Zealand), TINZ
(Tenancy Information New Zealand – a 3rd party),
and to view any previous rulings through the Tenancy
Tribunal for non-payment or bad behaviour.
INTERVIEWING POTENTIAL TENANTS
Whenever possible, applicants are interviewed by
property management staff, to help ensure we get
the ‘right fit’ of people to your property. We discuss
with them a number of issues particular to your
property including your requests on pets, lawns,
gardens and smoking.
OUR ‘RULE OF THUMB’
Our property managers work with the same viewpoint
which leads to our rule of thumb. At the end of the
application and interview process, we ask ourselves
this question. “If this property was mine, would I put
these people into it?”. If the answer is “Not sure”
or “No” then we won’t put them in, and continue
looking for others. If the answer is “Yes”, then we will.
Rent Collection & Financial Reporting
Timely collection of income is paramount
to successful property management.
Watson Real Estate has strong systems
and procedures in place to ensure that rent
is collected on time and that any missed
rental payments are promptly pursued. We
have a zero tolerance to rent arrears policy in
place to make sure if rent is missed we are taking
steps right away to rectify it.
All funds are held in a non-interest bearing trust
account which is independently audited.
“The training at Watson is
comprehensive and on-going
and I believe we are one of
the best teams in the country
because of it.”
Funds are direct credited into your account on a
fortnightly or monthly basis with statements being
simultaneously emailed to yourself and/or a nominated
The amount of rent paid for your property is reviewed
every six months formally, in order to help maximise
your investment return.
Your property can be valued by our sales team so
you can monitor your capital growth, for future re-sale
How we care for your house
It is important that maintenance issues are
attended to promptly in order to:
Maintain the capital value of your property
Prevent minor problems escalating
Keep your customers, the tenants, happy
with their home
Maintenance inspections are carried out three times per
“Being part of an
award winning team
helps me to strive to
year. These are focused on proactively ensuring
that the property is kept in an attractive and well
maintained condition, and to ensure that your tenants
are caring for your asset appropriately.
As part of this process we communicate with you
after our inspection, and in cases of major work
we can also email you digital photographs or video
of your property to give you a visual appreciation of any
issues we may have identified.
We have a handy man who works only for us.
This allows us to provide you with very good value
and service for your general maintenance work.
We have strong relationships with a selected number
of contractors who perform work of a more technical
nature at competitive prices including a plumber and
In addition we prepare a detailed Pre-Tenancy
Inspection Report for each new tenant. This clearly
sets out the condition of your property at the
commencement of a tenancy with both photographs and a
Important insurance information
Many standard insurance policies do not
returned to you is a court imposed ‘drip feed’ over a
cover the specific risks often associated with
long period of time. Clients with landlord insurance receive a
rental properties such as malicious damage
or theft by tenants and their guests.
lump sum payout, instead of a trickle of funds, and again, we
believe extra insurance is a wise option.
We also suggest that if possible you talk to your building
Watson Real Estate is a member of the Real Estate
Institute of New Zealand. We can offer access to the
insurance policy available through Real Landlord
insurer and arrange no excess on windows, drains, and
Note: Insurance on a rental property is a tax deductible expense.
This is a very comprehensive policy and can only be
obtained through a property management company
which meets strict criteria. At Watson Real Estate
our opinion is that this is a very strong policy,
however we would encourage you to talk to your
insurance company or broker about options
available to you.
It is important to note that such specialised insurance
“Winning multiple national
awards goes to show that
you don’t have to be the
biggest to be the best. It’s
all about service.”
for landlord situations are complimentary to your
existing house insurance and do not replace it.
Our opinion is that the minimum for a prudent landlord
would be coverage for loss of rent, malicious damage
and legal liability. However, as per any insurance
policy, the choice of whether to be insured or not is
up to you.
Property Management Administrator
At Watson Real Estate we are very good at catching
up with tenants who owe rent or money for repairs.
However, this is a lengthy process and often money
What our clients say...
“I have used Watsons Property Management Team for
“Your team continues to provide an excellent service,
a number of years now, after using others to manage
ensuring we don’t even need to think about our
my rentals. I find them to be far superior in all aspects
of property management matters. As a property in-
R & E Connolly (owner)
vestor I require answers and full occupancy. This team
does this and I believe, goes beyond. “
“I had seen about 8 houses before I could decide on one
Ross Campbell (owner)
finally. I must say that among all the agents that I interacted with, my experience with you was the best. You
“I have found Watsons to be a an extremely profession
were cordial, accommodating, very receptive to client
al organisation who know their industry very well and
needs and most important (for a newcomer like me), ac-
give an outstanding level of service both initially and
tually took the care to get back to me irrespective of the
with the on-going management of the properties they
outcome. In future whenever I need to change house I
look after. I have found them to be very thorough and
will surely contact you once again.”
the timeliness and level of communication is excellent.
Sameer Atre (prospective tenant)
All of the staff there are a pleasure to deal with and
they are the only team I would want looking after my
Nathan Ryba (owner)
“Living in Nelson while having rental investment
properties in Palmerston North gives rise to practical
“I cant speak more highly of the team at Watson Integrity
property management. They are all professional in their
approach which gives me confidence my property will be
well cared for. I particularly appreciate the communication
from my property manager, I am well informed of any
difficulties. Consequently it has been tremendously
changes or issues in a timely manner and they are solutions
satisfying to be connected with Watson Real Estate
focused. I would recommend Watsons to any landlord
and the complete service that is provided. I have great
wanting peace of mind and a professional, competent ser-
confidence in this firm and the helpful, professional
staff I have to deal with”.
Joshua Norris (owner)
Christine Tester (owner)
Frequently asked questions
1) HOW LONG DOES IT TAKE TO RENT OUT MY
business references, previous landlord references, pho
to ID and permission to check with online tenant refe-
The demand for rental properties in Palmerston
rencing agencies and to do a credit check.
North is traditionally strong. There is demand
Once we have all of the information needed and we are
from various sectors including business, education
100% comfortable, we will select the most suitable
and military. Generally speaking, if a tenant gives
tenants for your property.
3 weeks notice as they are entitled to do so,
4) HOW DO WE GET PAID?
it is very likely we will have somebody to rent
Rent is paid to us by weekly automatic payment,
the property at (or shortly after) the end of this
and this is monitored daily to ensure tenants meet
notice period. We mostly put in place fixed term con
their obligations. We forward the rent to you either
tracts which helps to ensure continuity of rent. We try
fortnightly or monthly with our management fee
to advertise 4-6 weeks out from the tenancy ending to
deducted. Also deducted would be small maintenance
try to minimise the risk of vacant properties
Jobs if applicable.
2) WHAT IS THE LIKELY RENTAL AMOUNT FOR MY
5) HOW OFTEN DO YOU CONDUCT PROPERTY
We will advise you of a ‘fair market rental’ which
We routinely inspect the property three times
will be a figure based on what similar properties
per year for which there is no additional fee.
are currently renting for. Depending on your
We conduct inspections for three main reasons.
situation, we can try to get a higher figure, and
Firstly, so that the tenant knows we are visiting
feedback will quickly tell us if this is too high.
regularly; secondly to make sure the house is
3) WHEN YOU FIND POTENTIAL TENANTS FOR MY
being looked after; and thirdly to try and spot any
PROPERTY, HOW DO YOU QUALIFY THEM?
on-going or gradual maintenance issues. A letter
If after showing your property, they are interested
and report is sent out to you after each inspection.
in it, we arrange for them to come into the office
6) WHAT IF I WANT TO SELL MY PROPERTY, CAN
and be interviewed. Our property managers talk
WATSON REAL ESTATE HELP?
to hundreds of groups every year and have a
Absolutely. In fact using the same company to
good feel for suitable tenants. Potential tenants
both sell and manage the property is very easy.
are also required to fill out a comprehensive
We can make sure the tenants are as helpful as
application form which includes details of their
possible, that all rights and responsibilities under
personal and working situations and current
the Residential Tenancies Act 1986 act are
renting/living arrangements. The application
also gives us the authority to check personal and
adhered to, and the transition goes as smoothly as
We believe our service is the best around (in fact
possible. Watson Real Estate has a highly
we guarantee it on the back cover of this booklet).
experienced sales team who use unique
You get great value for money and no hidden costs.
methods to get you the best price possible. We
Our fee is 9.5% of rent collected plus G.S.T., and
also offer a reduced sales commission for owners who
includes absolutely everything we do. This means
sell through our company.
we can calculate exactly what your fee will be, it
7) HOW ARE RENTAL DEBTS HANDLED?
never fluctuates, and is easy for financial planning
Due to the types of tenants we select we
purposes. Our fee is a tax deductible expense.
have very few problems with terminations
9) WHO HANDLES PROBLEMS LATE AT NIGHT OR ON WEEKENDS? WE DO!
due to lack of rent or through damage caused
at a property. If you have specific landlord
insurance, chances are your insurance
company will pay you out a lump sum in a
worst case scenario. If you have no insurance
we will attempt to chase the debt for you –
and in all likelihood recoup the money. This is
done through the court system however, which
takes some time and in most cases repayment
is a ‘drip feed’ of $5 to $20 per week. The immediate
cost to return the property to ‘market ready’
is incurred by the owners unless they have
8) ARE YOU THE CHEAPEST COMPANY IN TOWN?
Probably not. We are competitive and we
are certainly not the most expensive.
Traditionally, real estate companies will charge
a percentage of the rent collected, and then
have a host of extra charges – for the likes
of inspections, arranging maintenance, extra
advertising, representation in court, postal fees
etc just to name a few.
We always have a duty property manager available
24 hours a day, 7 days a week to act upon
10) WHY SHOULD I CHOOSE WATSON REAL ESTATE LTD?
We take away your day to day worries, eliminate
as much risk as possible, and have experienced
and enthusiastic qualified staff. We are members
of the Real Estate Institute of New Zealand and as
such, are governed by the relevant laws, rules and
a code of practice to ensure the job is done well
at all times. We have a number of staff members
who are Associates of the Real Estate Institute of
New Zealand, who have the highest real estate
More valuable information...
WE ARE MEMBERS OF THE REAL ESTATE INSTITUTE OF
NEW ZEALAND (REINZ)
As a REINZ agency member, we must meet the following
We must conduct ourselves and our business under
the rules and codes of the REINZ:
We must operate a trust account and have all monies
deposited into that account. We must have that account audited, and make that audit available to REINZ
on request; and
We must hold current professional indemnity insurance cover to the minimum standard prescribed by
relevant REINZ code; and provide evidence of such
insurance upon request by REINZ.
WE ARE MEMBERS OF THE LEADING PROPERTY MANAGERS OF NEW ZEALAND (LPMNZ)
“Being involved with
helps us to bring the latest
expertise and added value
products to improve our
As an LPMNZ Member we must:
Comply with the Code of Practice and benchmark
levels of service and business practice
Receive cutting edge skills based training and advice
Attend regular forums and share strategies, tips, tools
and ideas to help us to provide the best service and
advice at all times
Be part of a network which can help refer clients
around the country.
WE ARE CERTIFIED METHAMPHETAMINE SAMPLERS
As a member of MethSolutions :
We are certified to surface test properties for
We can provide a point of difference for your
home as ‘Certified Meth Free’
We can provide pre-purchase testing to safeguard investor buyers
Owner and Property Management Director
Watson Real Estate Ltd Property
Management Guide Guarantee
“We guarantee that if, after three months, you are not entirely satisfied
with our Property Management service we will cancel our contract and
refund in full all management fees paid by you.”
267 Broadway Avenue, Palmerston North
PO Box 1839, Palmerston North
Phone: 06 353 1925 Fax: 06 353 7276 Email: firstname.lastname@example.org