Auckland rental property market - Aaaarrrgghhh!

[Madness]

A lot of people will be aware from recent media coverage that Auckland has a pretty severe shortage of rental properties to meet current demand. We've recently found this out first-hand after our landlords returned to N.Z from Tokyo a couple of weeks ago following the crisis there. We have until the end of April to vacate our current home so the owners can settle back into their property.

Problem is that we have two dogs and the current market is such that anything half decent seems to be turning into a bidding war amongst non-dog-owning tenants.

For example, there was a place listed at 9am on Tuesday of this week in Glen Eden for $460 per week. By 6pm we had a call from the owners that they had received multiple offers, with the highest at that stage being for $680 per week on a 24 month lease. Christ knows what it's up to by now but needless to say we pulled out on Tuesday.

I held off on posting this here to be honest. There's a lot of people left homeless in Christchurch and I'm sure there's a lot of Kiwi's with more than ourselves to worry about. That said, I'm starting to shit bricks .

So, If you win the Powerball Jackpot this weekend and consequently find yourself thinking of investing in rental properties - please flick me a pm.

Cheers.

[Edbear]

If you don't mind commuting there are a few rentals up this way.

[Hiflyer]

Yea tell me about it, I started looking for a place for myself and my partner in mid dec and was lucky enough to find a place by the end of jan, but what that involved was calling literally 3mins after it was listed on trademe and arranging a viewing 30mins later then saying YES! NOW! PLEEEEASE! haha

but all the best mate and good luck!

[Madness]

Been living in Manukau since moving up from Wellington 3 years ago. We're in Beachlands now and love the semi-rural "village" feel of the place. Her Indoors has a part time job in East Auckland & we're trying to stay on this side of town if possible. I think we might end up casting the net further afield pretty soon though as it's starting to look pretty grim out east.

[boman]

Would you be interested in Pukekohe?

[JimO]

lots of LLs dont like dogs

[Lucyloo]

I agree it's dire! My partner and I are looking at down sizing as his 3 adult boys are finally flying the coop. It's difficult to find a 2 bedroom place with a 6 car garage! Well a double garage would suffice I guess as long as the bikes have a warm dry place to sleep. We are looking at east Auckland too - not much around that we can afford!.
L.

[Bender]

And not long ago all landlords were bastards getting incredible tax breaks.

So the Gummint removed the wonderful tax breaks.

The landlords said 'bugger this it ain't worth it' (that and the number of tenants who trash properties, take off leaving rent unpaid, turn places into P labs). There is no comeback for a landlord when someone leaves without paying rent.

Hey presto, no rental accommodation and what there is, is bloody expensive.

[nosebleed]

$680 for Glen Eden! Fukkin hell.

I take it you received your full 42 days notice? (s. 51 Residential tenancies Act).

[Brett]

And not long ago all landlords were bastards getting incredible tax breaks.

So the Gummint removed the wonderful tax breaks.

The landlords said 'bugger this it ain't worth it' (that and the number of tenants who trash properties, take off leaving rent unpaid, turn places into P labs). There is no comeback for a landlord when someone leaves without paying rent.

Hey presto, no rental accommodation and what there is, is bloody expensive.

You're not wrong. However, if rental investors stopped trying to make money out of writing their tax losses off and focused on properties that generated income, then they might find it more attractive. Personally, i have found a few properties for sale in East Auckland that I think are great deals that are slightly cash positive and would be happy with as investments.

[racefactory]

A lot of people will be aware from recent media coverage that Auckland has a pretty severe shortage of rental properties to meet current demand. We've recently found this out first-hand after our landlords returned to N.Z from Tokyo a couple of weeks ago following the crisis there. We have until the end of April to vacate our current home so the owners can settle back into their property.

Problem is that we have two dogs and the current market is such that anything half decent seems to be turning into a bidding war amongst non-dog-owning tenants.

For example, there was a place listed at 9am on Tuesday of this week in Glen Eden for $460 per week. By 6pm we had a call from the owners that they had received multiple offers, with the highest at that stage being for $680 per week on a 24 month lease. Christ knows what it's up to by now but needless to say we pulled out on Tuesday.

I held off on posting this here to be honest. There's a lot of people left homeless in Christchurch and I'm sure there's a lot of Kiwi's with more than ourselves to worry about. That said, I'm starting to shit bricks .

So, If you win the Powerball Jackpot this weekend and consequently find yourself thinking of investing in rental properties - please flick me a pm.

Cheers.

Best of luck to you. 680 and counting? Fuck that shit to hell. I'll look after your dogs for a while if you end up in dire straits.

[Gremlin]

And not long ago all landlords were bastards getting incredible tax breaks.

So the Gummint removed the wonderful tax breaks.

The landlords said 'bugger this it ain't worth it' (that and the number of tenants who trash properties, take off leaving rent unpaid, turn places into P labs). There is no comeback for a landlord when someone leaves without paying rent.

Hey presto, no rental accommodation and what there is, is bloody expensive.

Can't have the poor tenants paying the evil landlords heaps huh? It wasn't THAT profitable as it was...

The tenants are muuuuuch better off now...

/sarcasm

[Mom]

So, If you win the Powerball Jackpot this weekend and consequently find yourself thinking of investing in rental properties - please flick me a pm.Cheers.

Put the dogs in kennels up this way (cheaper) and crash at ours while you are looking for a place to stay, I wont charge too much and think of the fun we could have

[Mom]

Best of luck to you. 680- fuck that shit to hell. I'll look after your dogs for a while if you end up in dire straits.

Nice offer, so now all bases are covered, you can look after his dogs I can look after them. Hell of a commute from here though

[tri boy]

Real estate and rentals in NZ are in a hell of a state right now.
If NZ isn't forward thinking re land and housing, we could easily be slipping further down the first world ladder. I hate real estate agents with a passion.
MHO

PS. Never deal with Ray White for either a rental or property purchace. It is the shoddiest company I have ever had the displeasure to deal with.