Hamilton Property Management Update Winter 2012

Occupancy rates remain steady at 98% across the portfolio.

As expected, winter brought with it a seasonal slow-down in demand for rental properties. However, there is a shortage of properties available in Rototuna, St Andrews, and Pukete.

There is also increased demand for top-end property. Rents in Hamilton traditionally hit a ceiling at $500 per week. However, in the last week a Queens Ave property was re-rented for $700 per week, and a St Andrews property for $650 per week.

Tenants are more selective with their choice of rental property, highlighted by widespread understanding of the importance of insulation and heating in maintaining a healthy home. This is one of the primary questions asked of property managers when empty properties are shown. While all landlords are strongly encouraged to take advantage of the Government’s insulation and heating scheme, it is interesting that about 426,000 rental houses in New Zealand remain inadequately insulated and poorly heated.

Properties that have been modernised, and that are warm and well-maintained, will continue to be quickly snapped up.

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