Rental Market Update - July 2024

The previous month (June 2024) has seen a record number of available rental properties in the North Island, creating a lean towards a tenant's market where supply exceeds demand. Despite this, many of our properties are still leasing within a reasonable timeframe. In this competitive landscape, it's crucial for landlords to ensure their properties stand out through effective marketing, competitive pricing, and diligent tenant follow-up to secure leases quickly. Landlords should also consider small property upgrades and professional photography to enhance their property's appeal. At The Rent House, we are proud that despite this, we are still maintaining very good results on average across the board.