Goodwins profile: Monica McFarlane, Property Manager
Born and bred in Adelaide, Monica and her fiancé Jack are a rare example of Australians making the switch to work and live on this side of the Tasman. That’s a nice twist on the usual story about the record number of Kiwis choosing to ply their trade in Australia. The pair left Melbourne, their hometown of six years, first settling in Hamilton (a very laid back place, Monica said) then relocated to Auckland last year. She’s been in the Property Management game for five years, including a year with Goodwins, and has several investment properties herself. So, Monica knows the property business from both sides of the fence – and the Ditch.
Q: What sparked your interest in property?
MM: “In my younger years, my father sold our family home to Julia Gillard, the former Prime Minister of Australia at the time. The sale garnered significant attention, as she had recently been replaced by Kevin Rudd in a Labor leadership change. This event sparked my interest in the property industry, and I’ve been fascinated by it ever since. I enjoy visiting beautiful homes and discovering what’s available on the market—so why not turn this passion into a career?”
Q: How does the New Zealand property market differ to your experiences in Australia?
MM: “In my view, it’s more of a tenant’s market in Melbourne, at least. The market there is significantly larger, and I believe the greater supply helps keep rents relatively more affordable compared to Auckland. Overall, I find renting in New Zealand to be quite expensive.”
[An OECD report released in April said that New Zealand was among the most expensive places to rent in the world, on several measures. More than 25% of disposable income was going on rent for renting households, it calculated, ninth in the world. – Ed.]
Q: What’s your take on the Auckland rental market right now?
MM: “Tenants have more choice, but rents remain high. No one likes to drop their prices, but it does mean extended periods of vacancy. We prefer to keep that to a minimum. Landlords know they’re competing for good tenants. I think you’ll see a bit more price flexibility as resistant landlords move to meet the market.”
Q: What’s your sweet spot in terms of the properties you source and manage?
MM: “I have a particular appreciation for high-end properties, especially those near the water, as I grew up by the beach. Currently, I am focusing on the Ponsonby and Grey Lynn areas. While there isn’t much direct waterfront property, the harbour views are stunning, and the vibrant selection of bars and cafes adds to the appeal. Properties in these areas rarely stay vacant for long.”
Q: Given that tenants now have a bit more choice and less pressure to secure a tenancy, what can landlords do to increase their chances of success – other than perhaps knocking a bit off the rent?
MM: “To increase their chances of success, landlords can focus on offering a well-maintained and attractive property. Ensuring the property is clean, updated, and well-presented can make a significant difference in attracting tenants. Additionally, providing flexibility on lease terms or being responsive to tenant requests can create a positive rental experience. Offering features such as modern appliances, ample storage, or outdoor spaces can also set a property apart from others on the market. Building a strong reputation for being a fair and responsive landlord will encourage long-term tenants and enhance the property’s appeal.”
Q: What are the biggest reasons a landlord should seek out a professional property manager?
MM: “A property manager takes care of tricky situations. For example, misunderstandings about responsibilities – which party does what. And then there’s maintenance and repairs, which need to be jumped on quickly. We also know the ins and outs of Healthy Homes legislation. And let’s not forget about rent – we’ve got tight policies and procedures to catch problems early.”
Q: Wearing your investor’s hat – if you were buying an investment property right now, what would you be looking at?
MM: “I’d go for a tidy two or three-bedroom house that was Healthy Homes compliant, with potential for further development. They’re easy to rent and, with the right touches, lead to significant capital gains.”
Call Monica on 021 278 1524 to put your property into the hands of a management pro.
