The rental market in New Zealand is about to undergo a period of massive transformation, that may see a number of landlords decide to quit the market entirely. Over the next decade, rents are likely to stabilise, interest rates rise somewhat and the government will likely take a closer look at capital gains. All of which makes being a landlord a tricky proposition. However, around one third of New Zealanders live in rental property. How then should landlords manage their expenses and properties in the most cost-effective way?
Enter myRent, a digital property management service designed to ease the load and simplify the work of both finding, and keeping, happy tenants. Tauranga-born Thomas Clement set up the popular Flatmates.com.au and after he sold that business started to look at the broader problems of the rental market. “As a landlord myself I know first-hand how time intensive self-management is and how frustrating and financially crippling traditional management options are. So much of the process remains in the analogue world, yet we have these tremendous devices in our hands that can really make life easier for all concerned.”
With that digital journey in mind, Thomas and team set out to create an app that would empower landlords to manage their own properties and to do it in a way that appeals to renters as well.
“There are some key moments in the landlord-tenant relationship that can go horribly wrong. Finding tenants, agreeing to the contract, lodging bonds, collecting rent – these are all big issues for landlords. Tenants often struggle to find landlords to report maintenance issues or to organise inspection visits. We set out to tackle these issues.” myRent aims to make the entire contractual relationship transparent for all parties. With a secure dashboard that property owners can access from any location through to a maintenance logging tool that allows the tenant to take a photo and share it with the landlord to expedite repairs, myRent addresses those key pain points that both parties feel.
“Property management has traditionally been a time-intensive, hands on process that can be fraught for all parties. Most landlords end up outsourcing it to an agency that charges 6-7% and that eats into any profit.” By digitising everything from collecting the rent to renewing the lease, myRent brings property
management into the 21st Century. “We charge a flat 1% management fee per property making it a cost-effective alternative to getting an agent to run everything and because the entire property management portfolio can be transferred to myRent, you can say goodbye to calendars, spreadsheets and random bank
account details. It’s all handled through the dashboard.” “The industry is about to change and to better ride that wave, landlords will need to ensure they’re spending money where it counts. Agency fees aren’t necessarily the best way to do that.”
To celebrate myRent launching onto the New Zealand market this week, we’re helping new landlords find tenants using our easy-to-build online ad
For more information or to speak with Thomas Clement, contact:
myRent is an intelligent online platform that makes tenancies simpler, cheaper and more
transparent. With an easy-to-manage online portal that let’s you sign up a new tenancy in
three minutes, or collect rent from multiple tenants, or track maintenance issues and build
expense reports, myRent takes the pain out of managing your properties.
myRent includes e-signed tenancy agreements with automatic renewal reminders, bonds that
are lodged directly with Tenancy Services, simplified Tenancy Act compliance processes and
no hidden fees or charges.