Hot Auckland Rental Market

[Wayne]

caca - very few Spanish words contain 'k' and those that do were borrowed from other languages.

that was the key - thanks

[donthatetheplayer]

I just got notice from tenants on the weekend on a property. 21 days. Why landlords have to give 90 days and tenants just 21 is beyond me! Anyway, I advertised the property on Trademe at lunch time a few days ago. By the end of the day I had 10 tenants lined up to view the property so I stopped accepting inquiries. I got a further 10+ in the next 24 hours.

I expect to have the property re-rented by Friday and expect to do it with zero days vacancy. Best part of all is I have put the rent up 7% ($30 p/wk) on this one and my rates bill has only increased $8.60 p/wk so cashflow looking very good.

It's a tight market for tenants in Auckland based on what I'm seeing!

[elguapo]

I just got notice from tenants on the weekend on a property. 21 days. Why landlords have to give 90 days and tenants just 21 is beyond me! Anyway, I advertised the property on Trademe at lunch time a few days ago. By the end of the day I had 10 tenants lined up to view the property so I stopped accepting inquiries. I got a further 10+ in the next 24 hours.

I expect to have the property re-rented by Friday and expect to do it with zero days vacancy. Best part of all is I have put the rent up 7% ($30 p/wk) on this one and my rates bill has only increased $8.60 p/wk so cashflow looking very good.

It's a tight market for tenants in Auckland based on what I'm seeing!

You very clearly have not put rent up enough.

[PTILoveYou]

I just got notice from tenants on the weekend on a property. 21 days. Why landlords have to give 90 days and tenants just 21 is beyond me! Anyway, I advertised the property on Trademe at lunch time a few days ago. By the end of the day I had 10 tenants lined up to view the property so I stopped accepting inquiries. I got a further 10+ in the next 24 hours.

I expect to have the property re-rented by Friday and expect to do it with zero days vacancy. Best part of all is I have put the rent up 7% ($30 p/wk) on this one and my rates bill has only increased $8.60 p/wk so cashflow looking very good.

It's a tight market for tenants in Auckland based on what I'm seeing!

Lol, with this much interest, all i can say is your asking rent is too low

[donthatetheplayer]

It's the highest priced property of it's type in the area. My asking rents are always higher than rental appraisals I get done by Property Managers.

[PTILoveYou]

It's the highest priced property of it's type in the area. My asking rents are always higher than rental appraisals I get done by Property Managers.

Looks like the market thinks you are not greedy enough haha!

Nice job, looks like you own some top notch real estate!

[BigDreamer]

I just got notice from tenants on the weekend on a property. 21 days. Why landlords have to give 90 days and tenants just 21 is beyond me! Anyway, I advertised the property on Trademe at lunch time a few days ago. By the end of the day I had 10 tenants lined up to view the property so I stopped accepting inquiries. I got a further 10+ in the next 24 hours.

I expect to have the property re-rented by Friday and expect to do it with zero days vacancy. Best part of all is I have put the rent up 7% ($30 p/wk) on this one and my rates bill has only increased $8.60 p/wk so cashflow looking very good.

It's a tight market for tenants in Auckland based on what I'm seeing!

I always found it extremely biased that Landlords have to give 90 days notice while tenants could get away with only 21 days. Both notice duration should be the same in my opinion.

[donthatetheplayer]

I always found it extremely biased that Landlords have to give 90 days notice while tenants could get away with only 21 days. Both notice duration should be the same in my opinion.

I agree. Yet all the media coverage is about how unfair tenancy conditions are for tenants. With 21 days notice the landlord is almost certain to have a vacancy period to cover - except in Auckland's hot rental market!

I try not to be greedy Gary. I just buy nice properties and keep them in tip-top condition. Prospective tenants always comment on how nice my properties are compared to what else they've seen. The small investment in keeping them very tidy more than pays for itself when it's time to get new tenants. I've never understood why landlords keep rundown properties. I guess it's a different story in undesirable areas where there's a high likelihood tenants will trash the place. All my tenants have always been excellent, touch wood.

[skid]

Maybe its the wet cold Auckland winter-but our 1 bed Mt Albert that usually has people lining up is getting hardly any response--First time its happened--Its tidy etc.---Fluke?

[Happi]

Maybe its the wet cold Auckland winter-but our 1 bed Mt Albert that usually has people lining up is getting hardly any response--First time its happened--Its tidy etc.---Fluke?

Did you use trade me? I found it very helpful!

[Damap]

I think also tenants getting fussier of late. We have taken 3 weeks to rent in Botany because even though it had brand new kitchen and bathroom the rest of the house was "dated". A year ago it would have rented in a day.

[skid]

Yes used tr. me ,but may have listed to high(a friend while Im overseas)its been reduced since--still slow though comparitively

[williamb]

Looks like market is really hot at the moment. Just have a house put up for rent. Hope can find a tenant soon.

[skid]

Looks like market is really hot at the moment. Just have a house put up for rent. Hope can find a tenant soon.

Let us know how it goes--Id like to know if the market is slowing or if mine was just a one off

[jackson016]

Firstly be aware of rental laws carefully.
Upgrade your apartments.
Then go ahead and choose whom you can trust more. Try to find reason behind why they are keen to rent it.