Terms of Engagement

Last updated: January 2026

IMPORTANT NOTICE

This page provides general information about our standard terms of engagement for property management services. It is intended as a guide only and does not constitute a binding agreement.

Your signed Management Agreement is the binding contract between you and Venko Property. If there is any inconsistency between this webpage and your signed Management Agreement, your signed Management Agreement prevails.

Individual terms may vary by client and property circumstances. All agreements are subject to New Zealand law, including the Residential Tenancies Act 1986, Property Law Act 2007, and other applicable legislation. Where any term conflicts with statutory requirements, the law prevails.

For specific terms applicable to your property, please refer to your signed Management Agreement or contact us at hello [at] venkoproperty.co.nz

These Terms of Engagement govern the provision of property management services by Venko Property (trading name of Venkaro Limited) to property owners. By engaging our services, you agree to these Terms but will be finally contained in your specific agreement.

1. Services Provided

1.1 Scope of Services

We provide residential property management services including:

Tenant sourcing, vetting, and placement
Tenancy agreement preparation and management
Rent collection and arrears management
Property inspections (quarterly, entry, and exit)
Maintenance coordination and oversight
Compliance monitoring (Healthy Homes, Residential Tenancies Act)
Risk Register management and reporting
Financial reporting and owner statements
Tenancy Tribunal representation (standard matters)
Capital Expenditure (CapEx) planning

1.2 Services Not Included

Unless separately agreed, our services do not include:

Legal advice (we can coordinate legal representation when required)
Property sales or purchase advice
Property development or construction management
Major renovation project management (available separately)
Tax advice or accounting services
Building inspections or specialist reports (arranged at cost when required)

2. Fees and Payment

Our fees and payment terms are set out in detail on our Services & Fees page and in your signed Management Agreement.

All fees are deducted from rent collected or invoiced monthly. You will receive a detailed monthly statement showing all transactions.

Current fee schedules are available at: https://venkoproperty.co.nz/services-and-fees

If there is any discrepancy between this document and your signed Management Agreement, the Management Agreement prevails.

3. Client Obligations

3.1 Property Compliance

You are responsible for ensuring your property complies with:

Healthy Homes Standards (insulation, heating, ventilation, moisture, draught-stopping)
Building Code requirements
Smoke alarm and safety regulations
Pool fencing regulations (if applicable)
Local council bylaws

We will monitor compliance deadlines and advise you of upcoming requirements, but ultimate responsibility for compliance rests with you as the property owner.

3.2 Insurance

You must maintain appropriate insurance coverage for your rental property, including:

Building insurance (reinstatement value)
Landlord liability insurance
Loss of rent insurance (recommended)

You must provide us with a copy of your insurance policy so we can ensure compliance with policy requirements (e.g., inspection frequency).

3.3 Property Condition

The property must be in a tenantable condition before we begin marketing. We will advise if repairs or upgrades are needed to meet tenancy standards or achieve optimal rent.

3.4 Financial Obligations

You remain responsible for all property-related costs including:

Rates and council charges
Body corporate fees (if applicable)
Insurance premiums
Maintenance and repairs
Utilities (if not tenant-paid)
Compliance upgrades

3.5 Authority and Decision-Making

You authorise us to:

Enter into tenancy agreements on your behalf
Approve maintenance and repairs up to your specified threshold (typically $500)
Take necessary action in emergencies
Represent you in standard Tenancy Tribunal matters
Communicate with tenants and third parties on your behalf

You must respond to maintenance approval requests within 48 hours or as directed in the specific agreement. If urgent action is required and you cannot be reached, we will proceed with necessary work and notify you immediately.

4. Tenant Placement and Vetting

4.1 Vetting Process

We conduct comprehensive tenant vetting including:

Identity verification
Employment and income verification
Credit checks
Reference checks (previous landlords, employers)
Tenancy Tribunal history checks
Social media and public records review (where appropriate)

4.2 Tenant Selection

We will recommend suitable tenants based on our vetting process. Final approval rests with you, though we recommend accepting our advice as we have significant experience in tenant selection.

4.3 No Guarantee

While we conduct thorough vetting, we cannot guarantee tenant behaviour or performance. Tenancy is a contractual relationship governed by the Residential Tenancies Act, and tenant issues may arise despite careful selection.

5. Maintenance and Repairs

5.1 Approval Thresholds

You set your maintenance approval threshold. Common options:

Auto-approve up to $500
Require approval for all non-emergency work
Require approval for everything over your specified amount

5.2 Emergency Repairs

In genuine emergencies (flooding, no hot water, security breach), we will arrange immediate repairs and notify you as soon as practicable. Emergency repairs cannot wait for approval.

5.3 Maintenance Coordination

We coordinate all maintenance using our ticketing portal system. You will have real-time visibility of all maintenance requests, quotes, and work completion through the owner portal.

5.4 Zero Markup Policy

We pass all trade and contractor invoices through at actual cost with zero markup. We are not incentivised to recommend unnecessary work.

6. Financial Management

6.1 Trust Account

All rent and tenant funds are held in a PropertyMe trust account, separately from our operating account, in compliance with the Property Law Act 2007.

6.2 Rent Payment

Rent is collected weekly or fortnightly (as per tenancy agreement) and paid to you monthly, less our management fee and any approved expenses. Payments are made by direct credit to your nominated bank account.

6.3 Statements

You will receive detailed monthly statements showing:

Rent received
Management fees deducted
Expenses paid (maintenance, rates, etc.)
Net amount transferred to you

6.4 Tax Reporting

We provide an annual tax summary suitable for IR3/IR4 filing. You remain responsible for filing your own tax returns and seeking tax advice as needed.

6.5 Arrears Management

We actively manage rent arrears following a structured process:

Immediate contact with tenant on missed payment
Formal arrears notice if payment not received within 3 days
Tenancy Tribunal application if arrears exceed 21 days
Termination proceedings if required

You are responsible for any uncollected rent, though we will pursue arrears vigorously on your behalf.

7. Inspections and Reporting

7.1 Inspection Schedule

We conduct:

Entry inspection (within 2 working days of tenancy start)
Quarterly routine inspections
Exit inspection (within 2 working days of tenancy end)
Additional inspections as required (post-maintenance, compliance checks)

7.2 Inspection Reports

All inspections include comprehensive photo documentation and detailed reports available through the owner portal.

7.3 Risk Register Reporting

You will receive quarterly Risk Register reports showing your property’s compliance status (Green, Amber, or Red ratings) and any action items.

8. Tenancy Tribunal and Disputes

8.1 Representation

We will represent you in standard Tenancy Tribunal matters (rent arrears, bond disputes, property damage, notice disputes) at no additional charge for up to 2 hours per year.

8.2 Extended Matters

Complex Tribunal matters requiring multiple hearings or extensive preparation are charged at $150 + GST per hour beyond the included 2 hours.

8.3 Legal Proceedings

If legal representation is required beyond Tenancy Tribunal level (District Court, legal advice), we will coordinate this for you but legal costs are your responsibility.

9. Term and Termination

9.1 Term

This agreement continues on a rolling basis until terminated by either party.

9.2 Termination by Client

You may terminate this agreement with 90 days’ written notice. No penalties or exit fees apply.

9.3 Termination by Venko Property

We may terminate this agreement with 90 days’ written notice, or immediately if:

You breach these Terms and fail to remedy within 14 days of notice
You engage in illegal activity
The property becomes non-compliant and you refuse to remedy
You fail to pay fees owed for more than 60 days

9.4 Handover on Termination

Upon termination, we will:

Provide all property documentation and records
Transfer tenant communication to you or your new manager
Provide final financial statement
Cooperate with handover to new property manager (if applicable)

Our management fee applies until the end of the notice period or handover completion, whichever occurs first.

10. Liability and Indemnity

10.1 Our Liability

We will perform our services with reasonable care and skill. However, we are not liable for:

Tenant default or damage beyond normal wear and tear
Loss of rent due to vacancy or tenant non-payment
Property damage or loss (covered by your insurance)
Maintenance issues arising from property age or condition
Compliance breaches where you declined our recommendations
Third-party actions (tradespeople, tenants, authorities)

10.2 Limitation of Liability

To the maximum extent permitted by law, our total liability to you for any claim arising from our services is limited to the total management fees paid by you in the 12 months preceding the claim.

10.3 Professional Indemnity Insurance

We maintain professional indemnity insurance covering our property management activities.

10.4 Your Indemnity

You indemnify us against any claims, losses, or expenses arising from:

Your property’s non-compliance with legal requirements
Your failure to maintain appropriate insurance
Your instructions to proceed with work against our advice
Any misrepresentation you make about the property

11. Confidentiality

We will keep your personal and financial information confidential in accordance with our Privacy Policy, except where disclosure is:

Required by law
Necessary to provide our services
Authorized by you

12. Dispute Resolution

If a dispute arises between us, we will first attempt to resolve it through good faith negotiation. If negotiation fails, disputes will be resolved in accordance with our Dispute Resolution process.

13. General Provisions

13.1 Governing Law

These Terms are governed by New Zealand law and subject to the jurisdiction of New Zealand courts.

13.2 Amendments

We may update these Terms from time to time. We will notify you of material changes by email and post updated Terms on our website. Continued use of our services after changes constitutes acceptance.

13.3 Severability

If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions continue in full force and effect.

13.4 Entire Agreement

Your signed Management Agreement is the primary binding contract between you and Venko Property. In the event of any inconsistency between documents, the following order of precedence applies:

1. New Zealand law (Residential Tenancies Act 1986, Property Law Act 2007, and other applicable legislation)
2. Your signed Management Agreement
3. Our Privacy Policy (as updated)
4. This Terms of Engagement webpage (general information only as updated)

This webpage provides general information about our standard approach. Individual terms may vary by client and property circumstances. For specific terms applicable to your property, refer to your signed Management Agreement.

14. Contact Information

For questions about these Terms, please contact us:

Venko Property
Email: hello [at] venkoproperty.co.nz
Phone: [See Contact Page]
Address: [See Contact Page]

**Disclaimer:** This webpage provides general information only and does not constitute legal or financial advice. Your signed Management Agreement is the binding contract. Individual circumstances may vary. All property management services are subject to New Zealand law. For specific advice, consult your legal or financial advisor.