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18

March

2014

Problems with Renting out Christchurch Property? Bayleys Property Management Can Help.

Despite the ongoing shortage of low-priced property for rent in Christchurch, more and more landlords are stepping forward, complaining about troubles renting out mid-priced and high-end properties. 

No calls for a short-term rental at $450 for a 5-bedroom Huntsbury home, a price-drop from $480 to $430 for a 3-bedroom north-facing Cashmere house, no takers for a 3-bedroom Sumner property at $385/week – those are just a few examples of the many properties standing empty. 

Landlords of properties in a mid-priced price bracket and above go so far to say that it was easier to rent before the earthquakes. A look on Trade Me confirms that some dearer homes have been listed for several months.

Partially, this problem may be created by the Government’s $330 subsidy for displaced families which generates a threshold for tenants still paying mortgages on damaged properties.

So what can you do if you, as a landlord, experience similar problems? Bayleys’ Christchurch Property Managers have put together a few tips:

  • Make sure your property is warm and in a good condition. First impressions count and damaged exteriors can make people uncertain about a property. 
  • Provide documentation to show that your house is safe. 
  • Consider lowering the rent.
  • Think outside the box. A large domestic property may be of interest to a working group or business, or it could be rented to 2 tenants (for example 2 professional couples).

Finally, you can increase your rental success considerably by employing a reputable Christchurch Property Manager. Bayleys Property Management offers:

  • excellent marketing techniques across various platforms
  • access to a big database of tenants
  • maximum occupancy
  • reference checks to reduce risks of future problems
  • managing of maintenance and repair issues
  • tax advantages
  • thorough market knowledge/insights 
  • and much more
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