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Harcourts reaches significant rent roll milestone

MEDIA RELEASE

Harcourts reaches significant rent roll milestone

24 October 2008 - Harcourts recently reached a significant milestone, achieving the target of having more than 10,000 residential properties in New Zealand under Harcourts’ management.

Harcourts New Zealand CEO Bryan Thomson says increasing its nationwide residential “rent roll” to more than 10,000 is an excellent achievement by the group’s growing property management team.

“Since Harcourts made the decision to increase the focus on property management those involved have worked extremely hard to build this sector of our business. Achieving this milestone is a real credit to their efforts in what is an increasingly competitive area of the real estate industry.”

Mr Thomson says the group’s property management portfolio has increased by approximately 40% per annum for the past two years and he is confident it will continue to grow in the future.

“Harcourts recognises the importance of professional property management as part of the real estate mix and given we have a growing team with the skills, knowledge, experience and support required to succeed I’m confident Harcourts Property Management will continue to go from strength to strength.”

Harcourts National Property Management Operations Manager Carol Benny says surpassing the goal of having 10,000 residential properties under Harcourts’ management has resulted from ‘organic’ growth achieved through the proactive efforts of the team, along with various rent roll acquisitions and a number of mergers with former independent operators.

Now boasting a large nationwide network of professional property managers and support staff servicing the property owners and tenants associated with a rent roll of more than 10,000, Harcourts Property Management team is firmly established as a key supplier in the industry,
she says.

ends

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