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Big data concept. Businessman facing a tsunami wave of computer data, huge amount of numbers and letters, on white background.

<figure id="figure-xxej79mctulv3k0b4c" class="selected"><img id="xxej79mctulv3k0b4c" src="https://cdn.durable.co/shutterstock/28qy4RrpeSqFVPCKSx4NvZzkS3EpIWaRBtiFBqHW7HDAtsJnAA3gvqBqbeG0gTRh.jpeg" alt="Dramatic beach scene, big emerald green wave crashing on the shore, deserted beach in summer. close up wave" title="Dramatic beach scene, big emerald green wave crashing on the shore, deserted beach in summer. close up wave" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: 85% 55%;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="85%" data-positiony="55%" data-fullwidth="false" data-mce-src="https://cdn.durable.co/shutterstock/28qy4RrpeSqFVPCKSx4NvZzkS3EpIWaRBtiFBqHW7HDAtsJnAA3gvqBqbeG0gTRh.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: 85% 55%;"></figure><p>Tsunamis by their very nature arrive largely unannounced apart from the unusually low ‘tide’ that precedes them. In today’s soft property market that unusually low tide is obvious based on the record low property sales volumes. &nbsp;</p><p>The backdrop for the coming property price growth tsunami includes the current crisis of confidence in the property market. A crisis that was engineered with a somewhat misguided goal to reduce the value of every property in New Zealand in the name of making house prices ‘affordable and sustainable’ for all, forever. A goal that failed to account for the fact that when a manufactured property crisis ends, a boom in property values follows. A goal that failed to account for the long-term natural cyclical nature of the housing market.</p><p>The last four New Zealand property cycles have provided a rich source of valuable insights that indicate what is beyond the property market ‘event horizon’ for property values. For example, whenever there is a financial crisis, crisis of confidence, or credit crunch then values stall/fall. However, once the crisis dissipates sales volumes, and prices always bounce-back. Property market recoveries are usually rapid and the stampeding herd of potential property buyers, driven in part by ‘animal spirits’, is always difficult to curb once it takes a firm direction. At the moment the herd is still restricted by the current credit crunch and lack of confidence.</p><p>The ‘Law of the vital few’ however implies house price growth rates are based on very few sales compared to the total number of properties in any given location. That means a relatively small shift in demand in a suburb, or city, can suddenly inspire a significant movement in property values for an entire suburb or even a city.</p><p>Today the tide that drives the property cycle is turning. The incoming tide when it does arrive looks likely to be more of a tsunami and it’s arrival may well be sooner than you think.</p><p>- Written by Kieran Trass</p><p>Director of <a data-mce-href="https://tellmethetime.co.nz/" href="https://tellmethetime.co.nz/" target="_blank" rel="noopener">TELL ME THE TIME</a></p><p><br></p><p><br></p><p><br></p><p><br></p>

The Coming Property Price Growth Tsunami - May 2024

Tenancy Law , man writing on transparent screen

<h2>The return of 90-day ‘no-cause evictions’</h2><figure id="figure-xxej79mctulv3k0b4c"><img id="xxej79mctulv3k0b4c" src="https://cdn.durable.co/shutterstock/15juq3tQXJ26pTcN45x8NnhrTu04dU02xq9GX4VWQdPSi7JMaVSeow6x9umz9mY7.jpeg" alt="Image of Residential Tenancy Agreement with money and keys" title="Image of Residential Tenancy Agreement with money and keys" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: 85% 55%;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="85%" data-positiony="55%" data-fullwidth="false" data-mce-src="https://cdn.durable.co/shutterstock/15juq3tQXJ26pTcN45x8NnhrTu04dU02xq9GX4VWQdPSi7JMaVSeow6x9umz9mY7.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: 85% 55%;"></figure><p>A law change in 2020 meant landlords lost the ability to end a tenancy without giving a reason, provided they gave 90 days’ notice. The Government plans to reinstate this. This means that landlords will once again be able to tell their tenants to shift out, without telling them why, provided they give enough notice.</p><h2>Reduction in notice periods</h2><p>The Government will reduce tenants’ required notice period for the end of a periodic tenancy from 28 days to 21, and will reduce the amount of time that landlords have to give if they want to sell, do renovations, redevelop or move in to a property from 90 days to 42.</p><h2>Pet Bonds</h2><p>Pet owners have the Act Party to thank for his one – it wants landlords to be able to ask for extra rent (2 week's pet bond) to cover potential damage to a rental property from an animal. At the moment, landlords cannot charge more than four weeks’ rent as a bond.</p><p><br data-mce-bogus="1"></p>

Upcoming Tenancy Changes - April 2024

<h2>It’s Our 6th Birthday!</h2><figure id="figure-xxej79mctulv3k0b4c"><img id="xxej79mctulv3k0b4c" src="https://cdn.durable.co/blocks/7VoywhGzstngWMm2jAQZTdHHirFrtNYJ4BSCBTmiHNcTpfPN8PsxPmKuyhG2kU6o.png" alt="windowpanes at the building" title="windowpanes at the building" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: 85% 55%;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="85%" data-positiony="55%" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/7VoywhGzstngWMm2jAQZTdHHirFrtNYJ4BSCBTmiHNcTpfPN8PsxPmKuyhG2kU6o.png" data-mce-style="aspect-ratio: 16/9; object-position: 85% 55%;"></figure><p>As we celebrate The Rent House reaching the remarkable milestone of six years in business, it's a moment to reflect on our journey, achievements, and the incredible community that has made it all possible.</p><p>Six years ago, we embarked on a mission to redefine property management, armed with a passionate team and a vision for excellence. Today, as we pause to mark this occasion, we find ourselves humbled by the journey we've undertaken and the progress we've made.</p><p>One of the cornerstones of our success has been our team – many of whom have been with us from the very beginning. Their dedication, expertise, and unwavering commitment to our vision have formed the bedrock of our company. Together, we've built not just a business, but a family, united by a shared passion for providing exceptional service to our landlords and tenants alike.</p><p>Our success is also a testament to the strong foundations we've laid – meticulous attention to detail, a relentless pursuit of innovation, and a steadfast commitment to integrity in all that we do. These values have guided us through every challenge and opportunity, ensuring that we not only survive but thrive in an ever-evolving industry landscape.</p><p>Of course, none of this would have been possible without the trust and support of our clients. Your faith in us, your partnership, and your invaluable feedback have been the driving force behind our growth and success. As we look to the future, we are more committed than ever to exceeding your expectations and delivering exceptional results.</p><p>So, as we raise a toast to six years of growth, achievement, and camaraderie, we extend our heartfelt gratitude to each and every one of you who has been a part of this incredible journey. Here's to many more years of success, collaboration, and making a difference in the world of property management.</p><h2>New Fleet Additions!</h2><p>Our team is hitting the road in style this month with brand new fleet cars! We made the move to spacious SUV’s for our team, recognising the time that they spend on the road and the importance of both comfort and safety.&nbsp;</p><figure id="figure-ct087oet57lukkqdne"><img id="ct087oet57lukkqdne" src="https://cdn.durable.co/blocks/2dj0zbZcPcprZFzo6tCaj8JNYyAfcSa9i9IS4v8p8Fv3KwSEgzfj14EEDXKg7nw4.jpg" alt="property budget" title="property budget" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: 50% 70%;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="50%" data-positiony="70%" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/2dj0zbZcPcprZFzo6tCaj8JNYyAfcSa9i9IS4v8p8Fv3KwSEgzfj14EEDXKg7nw4.jpg" data-mce-style="aspect-ratio: 16/9; object-position: 50% 70%;"></figure><h2>Welcome to the Team, Lana!</h2><p>We are delighted to announce that Lana Miller has joined our team as Tenancy Manager. Lana started her journey with us as a temp to assist with an influx of growth and we very quickly recognised that she was the perfect fit for our team, well aligned to our common goal of creating service excellence. Lana brings a wealth of experience to The Rent House team, with a background in real estate and business development. Lana's multifaceted skillset and proven success in market analysis, negotation and client satisfaction distinguish her in the industry. With a client-centric approach, Lana always prioritises the needs and goals of clients, backed by an unwavering dedication to professional development.&nbsp;</p><p>Lana's role is that of Tenancy Manager, working alongside Senior Property Manager Jo Cavanagh. Lana covers many of the on-the-road functions for the team as well as being a reliable port of call for tenants. Lana has an excellent eye for detail, a calm and collected approach to problem-solving and understands various walks of life which makes her an approachable but firm Tenancy Manager.</p><figure id="figure-0ljx2im7rilukkqepr" data-full-width=""><img id="0ljx2im7rilukkqepr" src="https://cdn.durable.co/shutterstock/11k1E7oWE4OlZmdq5sEHNk9vZhJn4m1IvoddcggPtqL3E8PKP3O5rSZjSAP4O6ri.jpeg" alt="Welcome basket with flowers" title="Welcome basket with flowers" class="object-cover bg-gray-100 rounded-sm md:rounded-md lg:rounded-lg" style="aspect-ratio: 16/9; object-position: 50% 60%;" data-corners="small" data-aspect="16:9" data-caption="" data-positionx="50%" data-positiony="60%" data-fullwidth="true" data-mce-src="https://cdn.durable.co/shutterstock/11k1E7oWE4OlZmdq5sEHNk9vZhJn4m1IvoddcggPtqL3E8PKP3O5rSZjSAP4O6ri.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: 50% 60%;"></figure><h2>We Have Expanded!</h2><p>Over the past year, we've been on a journey of expansion, both in terms of our team and the areas we provide property management services. We're delighted to announce that we now cover a vast stretch of territory, from Wellsford to Taupo!</p><p>Understanding the needs of landlords with properties spanning multiple areas, we've made it our mission to provide seamless property management solutions. We recognise the importance of having a single point of contact and communication channel, regardless of the geographical spread of your properties. That's why we've dedicated ourselves to working tirelessly to make this a reality.</p><p>With our expanded reach, you can trust that no matter where your properties are located within our service area, you'll still enjoy the same level of personalised attention, expertise, and commitment to excellence from us.</p><figure id="figure-dm6xol1f9zlukkqfmt"><img id="dm6xol1f9zlukkqfmt" src="https://cdn.durable.co/blocks/1ePu1meoKsgURdO2wm63VOBDMp7Y8uvBwzXaNYJYkDDXEIvMM6FYsYryOuk4rrde.png" alt="property location" title="property location" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: 50% 30%;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="50%" data-positiony="30%" data-fullwidth="false" data-mce-src="https://cdn.durable.co/blocks/1ePu1meoKsgURdO2wm63VOBDMp7Y8uvBwzXaNYJYkDDXEIvMM6FYsYryOuk4rrde.png" data-mce-style="aspect-ratio: 16/9; object-position: 50% 30%;"></figure><h2>Interest Deductibility &amp; Brightline</h2><p>The current National-Act-NZ First coalition government has confirmed the return of interest deductibility to residential property investment, with the phased-in changes taking effect for property investors from April 1, 2024. New legislation will be passed allowing landlords to deduct 80% of interest expenses on property investments from April 1, 2024 (i.e in the year to 31 March 2025).<br>Deductibility will increase to 100% from April 1, 2025 (i.e. the 2025-2026 financial year).<br>(The 2023-2024 financial year will retain interest deductibility of 50%).</p><p>The government has also planned to reduce the brightline test (the de-facto capital gains tax) from 10 years to 2 years effective July 1, 2024. This means that people who sell residential investment properties within two years of purchase will have to pay tax on any capital gains. Currently, this period is 10 years for existing investment property and 5 years for new-builds.</p><p>After July 1, all property will fall under the ‘two-year test’&nbsp;(regardless of new-build or existing).&nbsp;As an example, someone who sells a property after July 1, 2024 and bought it 3 years ago wouldn’t be taxed under the test.<br>The ‘main home’ or family residence continues to be tax exempt. Under the proposed change, any property is considered an investment if it wasn’t used as the main home for more than half the time it was owned.</p><figure id="figure-f63g497u7lukkqg32"><img id="f63g497u7lukkqg32" src="https://images.unsplash.com/photo-1417733403748-83bbc7c05140?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyMHx8bmV0d29ya2luZ3xlbnwwfHx8fDE3MTIxNjU1ODh8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="networking" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1417733403748-83bbc7c05140?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyMHx8bmV0d29ya2luZ3xlbnwwfHx8fDE3MTIxNjU1ODh8MA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><p><br></p>

Company Update - March 2024

<p>The rental market in Auckland has been experiencing significant shifts and trends in recent times, making it crucial for both tenants and landlords to stay informed and adapt to the changing landscape. Let's delve into some key insights and trends that are shaping the current rental market scene in Auckland.</p><h2>Rental Prices on the Rise</h2><p>One noticeable trend in Auckland's rental market is the steady increase in rental prices across the city. With high demand and limited supply, tenants are finding themselves paying higher rents than ever before, especially in popular suburbs.</p><figure id="figure-zkx8qibsrslu7us1mv"><img id="zkx8qibsrslu7us1mv" src="https://cdn.durable.co/shutterstock/1fvqgcDklbcudAUF86ZJOZaW6JmRghueYBGM4jUYxf9ea53vA33kgh15iooQC804.jpeg" alt="Modern new Construction White Kitchen Grey cabinets stainless sink
" title="Modern new Construction White Kitchen Grey cabinets stainless sink
" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionx="null" data-positiony="null" data-fullwidth="false" data-mce-src="https://cdn.durable.co/shutterstock/27O5BeSMplcUQBbMhUm4NoQX5NxiBwKFC9cI1eSxbpqEzOqMaAKvYD0izCB8q9gu.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"></figure><h3>Shift Towards Short-Term Rentals</h3><p>Another interesting development is the growing popularity of short-term rentals in Auckland. Platforms like Airbnb have made it easier for property owners to capitalize on the tourism market, leading to a decrease in long-term rental availability in certain areas.</p><h3>Preference for Modern Amenities</h3><p>Tenants in Auckland are increasingly prioritizing properties that offer modern amenities and features. Properties with energy-efficient appliances, high-speed internet, and outdoor spaces are in high demand, with tenants willing to pay a premium for these conveniences.</p><h2>Supply Constraints</h2><p>One of the biggest challenges facing the Auckland rental market is the limited supply of rental properties. With population growth outpacing housing construction, the imbalance between supply and demand continues to put upward pressure on rental prices.</p><figure id="figure-39rj1qq3ilu7us561"><img id="39rj1qq3ilu7us561" src="https://images.unsplash.com/photo-1562602136-b64ddd991ea2?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNXx8aG91c2luZyUyMHNob3J0YWdlfGVufDB8fHx8MTcxMTQyNTg4MXww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="housing shortage" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1562602136-b64ddd991ea2?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwyNXx8aG91c2luZyUyMHNob3J0YWdlfGVufDB8fHx8MTcxMTQyNTg4MXww&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure><h3>Changing Tenant Preferences</h3><p>Tenants in Auckland are becoming more discerning in their choices, looking for properties that offer flexibility in terms of lease agreements and pet-friendly policies. Landlords who are able to accommodate these preferences are likely to attract and retain quality tenants.</p><h2>Government Regulations</h2><p>The New Zealand government has implemented various regulations aimed at improving rental standards and protecting tenants' rights. Landlords are now required to meet certain criteria regarding property maintenance and tenant safety, which has had a positive impact on the overall quality of rental properties in Auckland.</p><figure id="figure-ztqk8ru9nnlu7us67t"><img id="ztqk8ru9nnlu7us67t" src="https://cdn.durable.co/shutterstock/2dwcpztBGP50OtRjt3oFz3gswEyMsLqx6rA9xmKpc04a1ARyPA1T13K7x7WZr0Dm.jpeg" alt="Law concept - Book with wooden judges gavel on table in a courtroom or enforcement office." title="Law concept - Book with wooden judges gavel on table in a courtroom or enforcement office." class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="" data-positionX="null" data-positionY="null" data-fullWidth="false"/></figure><h3>Future Outlook</h3><p>As we look to the future, it is clear that the Auckland rental market will continue to evolve in response to changing economic conditions and societal trends. Staying informed and adaptable will be key for both tenants and landlords to navigate the dynamic rental landscape in the city.</p><p>```</p>

Our Blog

The Coming Property Price Growth Tsunami - May 2024

Upcoming Tenancy Changes - April 2024

Company Update - March 2024

Rental Market Update - February 2024