26/06/2024
🏠 New Zealand's Deep-Rooted Property Culture: Navigating Changes in the Rental Market 🏠
As New Zealanders, we have a deep-rooted culture centered around property and property values. This connection has persisted through various challenges like epidemics, recessions, and political changes.
Managing property is not an exact science; it takes skilled professionals to interpret the market and advise owners on the best strategies for renting out their properties. The introduction of the Healthy Homes regulations by the Labour government was a significant change, requiring rental property owners to provide warm and healthy homes for their tenants and maintain high standards. Some "Mum and Dad" owners, or accidental landlords, chose to sell their properties due to the financial investments needed for compliance.
But there's a silver lining! This shift has led to more affordable housing construction and the renovation and modernization of older homes, making them more fit for purpose.
In 2024, we're seeing an increase in family homes available for long-term rentals, giving tenants more options and creating a new norm in the rental market. While we can't predict the market's future, we can provide you with the latest insights and advise you on the best strategies for your property.
Thinking about renting out your property long-term? Chat with our industry experts today to make the right decision for you! 📞🏡