Property Management Tip #4 – Charging Market Rents

market-valueSo how do you ascertain what is an accurate market rent four your property? Below are a couple of great sources of information to use to determine market rent which are easily accessible and free:

1) Department of Building and Housing

The DBH website has a link to market rent statistics based on information from all bonds received within the last 6 months to provide an indication of the weekly rent charged in all areas throughout New Zealand. The information is updated every month and is available at:
http://dbh.govt.nz/market-rent

2) Rental Property Websites

Other properties listed on TradeMe and Realestate.co.nz can give a good indication of a likely market rent achievable. Properties listed can be filtered by suburb, number of bedrooms, and even ranked by price, so you can quickly determine where the market rent for your property may lie. Another great benefit of these sites is that the majority of properties also have photos which mean you can quickly look to see how another property stacks up in relation to yours. Have a look at:

trademe.co.nz/Houses-to-rent/index.htm
realestate.co.nz/rental

These sources can give you a good idea of a market rent figure which is likely to be achievable for a property. Make sure you are not under renting your property and you are getting the market rate that you deserve.

If you have a property management question you would like answered please feel free to get in touch!

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