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The latest stats out from The Department of Building and housing show that average rents are still softening in the larger home market (four bedrooms +). The three bedroom home rental market is still holding its own. Two bedroom homes are slightly cheaper to rent than a few months ago.
Jo De Jong and Steve Hall the very able Property Management and letting Team at Guardian First National report that stock levels (the number of homes for rent) are sitting at about average for this time of the year with Trademe showing around 950 properties for let in currently in Wellington after a huge start to the year (a deluge of close to 500 properties hit the rental market in one week in early Jan and took till late March to get soaked up).
Jo has had her best month on the casual letting side for 8 months indicating a greater demand for rental properties currently. The suggestion is that this is NOT a result of the destruction in Christchurch with very few people coming to rent in North Wellington from the Canterbury area. Sometimes the onset of cold weather triggers tenants in substandard or older housing to move to better insulated, warmer, and dryer accommodation. As a landlord, it is important to touch base with your tenants to make sure maintenance is up to scratch and to check that the house is being aired properly in winter so that condensation damage doesn’t take place.
Have you thought about having a Property Manager look after your rental property?
The Residential Tenancies Amendment Act 2010 has stipulated that if a landlord is going to be absent from New Zealand for more than 21 consecutive days, they must appoint a New Zealand based agent, and notify their tenant and the Department of Building and Housing (if a bond is held)of the agent’s details.
If you have a property for let, contact JO on ph 4775407.
For Property Management enquiries, Steve can be reached on ph 477 5409.
To look up the monthly rental data for your area, visit the DBH website
