One of our places is available for rent. It’s a property that normally attracts students. So it been available at this time of year for the last 4 or 5 years.

We’ve not seen the numbers of prospective tenants viewing this or any other property for a long time. There have been huge numbers of people looking at it.

The new tenants move in on Saturday.

We have found it interesting to see the difference and wonder if it’s a reflection of there being less available properties currently

princess52 - 2021-01-21 12:47:00

I sold a couple of houses that have been rentals for years, they were nice places and tenants were happy there but the cost of upgrading to the new government regs would be over-capitalising.
And I bought another old place for development from a LL selling up.
That's 3 families got to move somewhere.
I feel sorry for tenants in this situation and its time the politicians woke up to what they have done.

masturbidder - 2021-01-21 14:25:00

masturbidder wrote:

I sold a couple of houses that have been rentals for years, they were nice places and tenants were happy there but the cost of upgrading to the new government regs would be over-capitalising.
And I bought another old place for development from a LL selling up.
That's 3 families got to move somewhere.
I feel sorry for tenants in this situation and its time the politicians woke up to what they have done.

We sold a couple last year too. A variety of reasons but some related to all the new stuff. I think both the ones we sold are still rentals.

My husband has been doing some work at the vacant place and saw some of the numbers looking through it.

We have a letting agent who does all that for us.

princess52 - 2021-01-21 14:47:00

masturbidder wrote:

I sold a couple of houses that have been rentals for years, they were nice places and tenants were happy there but the cost of upgrading to the new government regs would be over-capitalising.
And I bought another old place for development from a LL selling up.
That's 3 families got to move somewhere.
I feel sorry for tenants in this situation and its time the politicians woke up to what they have done.

What politicians have done is provide a lot of extra protection for tenants, focusing on improving their wellbeing by ensuring they have (more) secure, safe, warm and dry rentals.

Surely you are not suggesting this hasn't worked.

artemis - 2021-01-21 14:51:00

In the current housing market, there appears to be two property investors willing to buy a rental for every investor wanting to sell and I guess the price offered takes into account the amount of work needed to meet the current / new tenancy building standards.

ian1990 - 2021-01-21 17:12:00

"Less properties available"

Trademe rental listings for Auckland are over 5500, well above last year. First week rent free offers appearing. Massive levels of construction underway, immigration virtually stopped.

kestrel43 - 2021-01-21 17:26:00

Hamilton TM rental listings have increased by 50% in the last 6 months, every week old houses disappear to be replaced by 6-12 rental units.

kestrel43 - 2021-01-21 17:28:00

And of course it should be "fewer", not "less".

kestrel43 - 2021-01-21 17:37:00

artemis wrote:

What politicians have done is provide a lot of extra protection for tenants, focusing on improving their wellbeing by ensuring they have (more) secure, safe, warm and dry rentals. Surely you are not suggesting this hasn't worked.

If that was their only objective then it worked.
But...
Costs have increased, so rents go up.
Some older houses were dry and perfectly liveable, but the cost of installing over-sized heatpumps etc was not worthwhile so they are gone from the rental stock.
Increasing tenants rights without corresponding protection to owner's rights has increased LL's risk so anyone with a less-than-perfect history can go to the HNZ waitlist, we're not taking any chances.

masturbidder - 2021-01-21 20:54:00

kestrel43 wrote:

"Less properties available"

Trademe rental listings for Auckland are over 5500, well above last year. First week rent free offers appearing. Massive levels of construction underway, immigration virtually stopped.

Did you see the PM on the news tonight? Planned builds until 20204 will not fill the current shortfall, let alone growth, housing replacement, and immigration when it returns.

masturbidder - 2021-01-21 21:00:00

Where are all the builders coming from to build these hundreds of houses??

camper18 - 2021-01-22 21:09:00