Is it really just 1%?
Traditional property managers usually take 7-9% of your rental income for their services. But then there's also those sneaky extra fees and charges that property managers charge: $5 for "administration", $10 for "key charges", $20 for "paperwork". myRent was created with the purpose of cutting out these often unnecessary and exorbitant costs and giving landlords greater control over their investments.
How much value do I get for 1%
myRent is all about empowering landlords to self-manage their tenancy. We can charge such a low rate for our service because we leave all the key decision-making to you. myRent's role is to provide all the guidance, options, and resources you need to manage your own property with a minimum of time, money, and fuss.
We are not, nor do we pretend to be, full-service traditional property managers. We don't manage your property for you, we don't make decisions on your behalf, we don't presume to tell you what's in your best interests.
We understand that self-management isn't for everyone. Using a traditional property manager will probably always be the best option for some landlords - especially those with several properties or who live very remotely to their investment property. However, at myRent we firmly believe that all landlords, no matter their experience, can manage their own property if they have access to good information and the right resources and tools. myRent makes self-management as easy as possible at a fraction of the cost of traditional management.
myRent shifts the key responsibilities for managing a tenancy from the property manager to you, the landlord. But by using myRent, the difficult and time-consuming details and administration are streamlined to make self-management as seamless as possible. With your knowledge and understanding of your property, it is likely that you'll be able to manage all the issues and solve any problems far more quickly, cheaply, and to a higher standard than a traditional property manager.
Traditional property managers make their trade based on the supposed ignorance of landlords - they portray property management as being impossible without some special knowledge and a full-time commitment. They say that their service will take away all the stress of owning an investment property. But the reality is that most of time you won't be receiving value for the 7-9% lost to a property manager. You'll be paying them a significant portion of your rental income to do little more than collect the rent and pass it onto you. When an issue such as maintenance or repairs does arise, commonly it will be something you could deal with just as easily - and solve it exactly according to your preferences and budget!
At a fraction of the cost, but providing all the tools and resources you'll need, myRent is the best option to self-manage your property. Check out our comparison table below to see why myRent delivers the value for your investment you've been looking for.
The information contained in this article is exclusively for promotional purposes. It does not in any way constitute legal advice and should not be relied upon as the basis for any legal action or contractual dealings. The information is not, and does not attempt to be, a comprehensive account of the relevant law in New Zealand. If you require legal advice you should seek independent legal counsel. myRent.co.nz does not accept any liability that may arise from the use of this information.