The rental market in Christchurch is changing — and so are the laws.
There is a lot to think about and understand before turning to the question of how these changes affect your own property investment. Navigating the jargon, determining the reasoning behind the changes, and ensuring you’re upholding the new laws is a big job. In fact, it’s a job for rental property experts.
Brent Manderson and Steve Hawker of Rentworks Property Management are the ones to see; their proactive approach is focused on visibility, communication, and building strong relationships. The duo, with an extensive combined experience in the rental industry, are committed to handling property investments correctly, to save you money in the long run. They have the knowledge and expertise to navigate the changing laws and market environment, while keeping you in the loop each step of the way.
“The Government has signalled modifications are coming to the rental property landscape. Notice periods for periodic tenancies look set to be revised, and no-cause evictions and interest deductibility on rental properties are expected to be restored. Change is on the cards for 2024, and it’s crucial to understand the impact these laws will have on you, whether property owner or tenant,” they say.
“The quest for affordable housing in Christchurch is intensifying, marked by a bustling start to the year characterised by heightened demand for standalone homes and properties in desirable school zones.”
Challenges in finding alternative accommodation for tenants after giving notice are rising, as the demand for rentals surges. Brent says it comes down to numerous people moving from the North Island to the South Island, making it more difficult for locals who are house-hunting. Yet, with a team that manages property like Rentworks does, these challenges are minimised. “All January rental properties were successfully leased after a single viewing, and February was consistent too,” Brent adds.