In today’s evolving market, regular rent reviews are essential to ensure your investment is reaching its full potential.
Is Your Rental Property Performing at Its Best?
A successful rent review starts with a close look at the competition: what similar properties are available nearby, and how is supply and demand for your property type trending? This helps set your rental at the right price point, balancing profitability with tenant retention.
Think of the total package from a tenant’s perspective: Is your property competitively appealing, and does it offer value that justifies the rent? Remember, the cost and inconvenience of moving for tenants is often a factor, so pricing appropriately can be the key to holding quality tenants long-term.
Maintenance Matters
Proactive property management includes scheduling regular maintenance and being responsive to tenant concerns. Well-maintained properties not only attract better tenants but also support a strong, stable income stream. A long-term view focused on tenant satisfaction, combined with ongoing property improvements, can help optimise your income and maximise returns.
Current Market Insights
It’s been a dynamic month, to say the least—think of it as navigating through foggy headlights! While listing numbers have surged to levels unseen in recent years, tenants seem cautious, with many taking longer to complete applications and some opting to break leases more frequently. We’ve also noticed more tenant turnover within group flats, as people seem uncertain about committing in the current climate.
Despite the unease, open-home attendance has remained steady. We’re working harder than ever to source quality tenants, but inflation settling within the target range (1% to 3%) could boost tenant confidence heading into the new year. While “Survive ‘til 25” was the mantra, the focus is shifting to “Fix for ‘26,” as the market anticipates an early-year demand spike.
Economic and Local Factors to Watch
One influence on demand is immigration, which has slowed. However, Christchurch remains a standout, with stable inward growth compared to other regions, potentially giving us an edge in market resilience.
Meanwhile, operational costs for owners—rates, insurance, and maintenance—are rising. We’re committed to balancing fair market rents with clear communication to tenants, explaining how these expenses impact rental pricing.
Looking forward to a robust November in the Christchurch rental market!
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