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First National’s casual letting Property Management division has operated successfully for over 20 years, and now is a good time to contact them to make sure your property is getting maximum return over the summer months. As they explain it, casual letting does not come under the "Residential Tenancies Act" but is is governed by the "Consumer Guarantees Act" which means that you have to provide "reasonably" what the customer expects to get in their contract/transaction with you.
Outlining this in a Rental Agreement with a tenant is one of the key aspects of what First National do. It is no longer safe to have someone stay in your property without a proper detailed "letting agreement" in place for the term of occupancy no matter how short or long the period is going to be.
First National’s agency agreement with you is an Exclusive Letting Agency Agreement, which can be terminated in writing by giving 60 days clear written notice. They provide a comprehensive letting agency management service which can be tailored to suit your needs, and their service includes inspecting the property prior to every letting and after every letting and making an inspection report which is held on file. It also includes signing up a booking agreement with the potential tenant and collecting a booking bond and the rent prior to any letting, and then dispersing that income to you (less fees) at the end of the month.
They will also advise you of any maintenance issues that need attention, appliances or fixtures that require maintenance, and will account to you at tax time with all income and outgoings on your property.
First National’s first job in many cases is to assess the nightly market rental value of your property. There are four main periods for casual rental they are:
Peak: Apx. 20th Dec to 13th Jan ( or end of 2nd week in January) 10 night minimum. Shoulder: End of 2nd week in January to Waitangi weekend 5 night minimum. Beach Hop: Event rate, usually last weekend in March (four night minimum). Off peak: the rest of the year including Easter, Queens Birthday, and Labour weekend. (Two night minimum).
All of these periods have different rental rates, notwithstanding that the rental market frequently changes on a whim and they must be flexible with tariffs to ensure every opportunity to secure you a booking. They will discuss with you, what these rates are for your property and the degree of success that is likely for each period at the rates they suggest.
Although First National have a huge number of repeat clients renting with them year after year, new holiday making clients are carefully vetted and screened to minimise any adverse effect on a property during the rental period.