Justine Atkinson

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Rental Market Update – July 2023

Rents are on the rise again. After a period of rental price stability in late 2022, rent is now increasing in most categories of housing and suburbs. According to the latest Trade Me data, the median weekly rent in Auckland has risen to a new record high of $660 per week, which is a 10% increase from 12-months prior (May 2022 – May 2023). Median weekly rent on average for the Waikato region has increased 6.7% and Bay of Plenty 8.3%.

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Fixing rental houses - Aspire Property Management

Flooding

If a property is affected by storm water and can no longer be safely occupied (flooding from stormwater is considered a health and safety hazard due to it containing many toxins), then section 59 of the RTA, the destruction of premises, comes into play.

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landlords rights and tenants

A Landlord’s Rights

When we work with landlords who are new to owning investment property, we get many requests to ask tenants to adhere to certain rules. And we get asked to select a certain type of tenant. There are things we can do to ensure we select the best tenants, but we can’t discriminate, and we can’t put rules in place that are outside of the Residential Tenancies Act. 

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rental market update words on green

Rental Market Update – March 2023

The recent weather events in the North Island have provided big challenges for affected tenants and landlords. Tenants have needed to find new homes and landlords have been left with big repair jobs and uninhabitable properties. Before the floods and the cyclone we were seeing a small upturn in the rental market, and these events have expedited a return to rising rents in some categories of housing and suburbs.  

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