- 1 June, 2014
- PROPERTY MANAGEMENT
- Market, Tenants, Landlords
With a shortage of good properties to sell in most areas if contemplating selling, now is the time as we can’t see the capital growth continuing.”
Unpaid rent each month in Auckland will also concern some landlords with debt created in Auckland alone at the rate of $750,000 per month (total rent outstanding). Money orders for the Auckland region being $42 million. New Zealand statistics reflect 42,000 cases of unpaid rent already registered at the tribunal resulting in $98 million in unpaid rent.
Source: Official information Wellington.
In the year ended April 2014 New Zealand gained a net 34,400 migrants. This year net migration is forecast to peak at 38,000. We believe the ongoing surge in migration will support the real estate market both renting and selling, as in many areas there is a lack of available homes.
Tenants: Make sure you keep up your payments simply because in many regions there are more people looking to rent than there are houses available, and some of these people may be prepared to pay more than you are currently paying. If you have trouble, talk to your property manager straight away.
Landlords: You may be managing your own portfolio and having difficulty, don’t leave it too long before you talk to an LJ Hooker property manager, they will assist you.