Peak Renting Period drawing to a close

Posted on Wednesday, February 26 2014

With rental properties in prime Auckland suburbs currently in high demand, it could be easily overlooked that in most of the country, the renting season is actually drawing to a close. Most tenants move in summer and they have the best choice of properties available. Landlords achieve top rents in summer and the best choice of tenants available. While properties are renting well in January and February, landlords should not get complacent. The tide turns very quickly and by the beginning of March, it can be difficult to rent any remaining properties on your books.

Keep an eye on what is available in your area, how long other properties have been listed for and what rent prices are doing. Trademe continues to be the most popular site for advertising properties which does make it easy for savvy landlords to quickly understand the current market. If your property has been listed for some time, then featuring the listing will bring it to the top again. Couple this with a price change or changing your lead photo could be all you need to get the property rented now.

When working out your rents, remember what others have theirs advertised for is only an indication. After all, they are the properties that haven’t rented (yet). The ones that have are not visible so you need to be keeping an eye on listings over a period of time to see what comes and goes at what price. We don’t want to under rent but we can’t afford to miss the boat either.

Present your property at its best. Tenants still prefer to drive by properties so no matter how pristine the gardens look in the website photo, the drive by could put the tenant off. Clear the mail box , wash down the front entrance and ensure the gardens are kept on top of. If you are meeting someone at the property for a viewing, arrive a few minutes early and pick up any rubbish in the gutter or which has blown into the property. It all helps to give that great first impression.

Finally have the house prepared. Turn on all the lights before you take the prospective tenants in and when you leave flick off the power at the mains (unless you have a sump pump or swimming pool etc which requires continuous power). This will make it easy for next time you are showing the property as well.

Tania Emer, Director
Mana Property Management
www.manaproperty.co.nz

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Expert's Bio

Tania & Kyle Elmer

Tania & Kyle Elmer are active investors with a large portfolio of properties in Dunedin and Central Otago and mentor investors in the techniques used to grow wealth through property investing. Kyle and Tania are Co-directors of the Leading Property Mangers of New Zealand (LPMNZ). Kyle is a past president of the Otago Property Investors Association (OPIA). They founded Mana Property Management Ltd to provide specialist management services to Discerning Landlords dealing in the quality end of the market. www.ManaProperty.co.nz | Find Kyle on Google+

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