Spring has kicked in here in Christchurch and with that brings a fresh wave of new opportunities for landlords in the residential rental market.
The positivity that comes with warmer weather and the promise of renewal means that spring typically sees increased activity, making it one of the best times of year to prepare your property for new tenants or to optimise returns from your existing investments. Here are some tips and trends that Rentworks are seeing this spring to help you navigate the rental market this spring.
Our Tip for Landlords: To make sure you stand out in Christchurch’s competitive rental market, ensure your property is immaculate. We suggest that fresh landscaping, clean interiors and minor upgrades (such as modernising fixtures) can make a tremendous difference. We find that tenants are looking for “move-in-ready” homes, and a well-presented home will attract the best offers.
Steady Rent Growth
The Christchurch rental market has seen consistent growth in rent prices over recent months, with an upward trend expected to continue through spring. With the city’s steady population growth, particularly from returning Kiwis and international migration, demand for quality rental housing remains strong. This puts landlords in a favourable position to review rent levels and ensure they’re in line with market expectations.
Our Tip for Landlords: While increasing rent can boost your yield, it’s essential to stay competitive. We regularly conduct a market analysis to find the right balance that keeps your property appealing while maximising returns.
Tenant Preferences: Sustainability and Comfort
As environmental awareness grows, tenants are increasingly looking for properties that offer energy efficiency and sustainability. Christchurch’s climate makes insulation, double glazing, and efficient heating systems highly desirable. Compliance is key: upgrading your rental property to meet these preferences not only attracts tenants but can also increase your property’s long-term value.
Our Tip for Landlords: Consider upgrading heating systems, adding eco-friendly features, or even installing energy-efficient lighting. These small improvements can differentiate your property and appeal to tenants looking for comfort and sustainability.
Preparing for the Future
Spring provides a perfect opportunity for Christchurch landlords to reassess and refine their property portfolio strategies. Whether it’s expanding your portfolio or optimising your existing investments, staying informed and adaptable is crucial in this ever-evolving market.
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