Ag 25 july, 2016

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Monday, July 25, 2016

Since Sept 27, 1879

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THE INDEPENDENT VOICE OF MID CANTERBURY

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Pokemon hunt Rattata and Pidgey were among Pokemon being caught in the Ashburton Domain on Saturday by Pokemon Go players Jack Steven and Hollie Steven. FULL STORY

P2

Rental market in tenants’ favour BY SUE NEWMAN

SUE.N@THEGUARDIAN.CO.NZ

Braving the elements P24

Ashburton’s rental market has turned on its head, with letting agents saying tenants are now spoiled for choice when it comes to finding somewhere to live. And that change in the market is forcing landlords to come up with creative ways to let their properties, says Real Estate New Zealand Ashburton owner Trevor Hurley. While his company has not adopted the ‘first week rent free’ promotion that has been used in Christchurch, it did try a no letting fee deal, he said. “We did this for a two-week window, but believe it or not, we haven’t noticed

any increase in demand and we certainly expected this to happen.” In recent weeks he said his rental stocks had gone from fully taken, with a tenant waiting list to around 5 per cent vacancy. “Traditionally it’s a bit quieter in the winter, but in the past there was limited stock, now we have eight properties vacant out of 200 and that’s a lot for us. Waiting lists? We don’t have them at the moment.” With the kill season at Silver Fern Farms shorter this year, there were tenants who were under financial pressure, but his company was working with those tenants, offering them help with budget

advice if needed. There was also the option of putting tenants on part rent payments with top-up payments made when work resumed, he said. “We’re trying to keep our tenants in their homes and that’s good for our landlords too because if the tenants move out then they’re not getting rent. We always keep owners advised and we seek their advice too. We’re trying to be socially responsible and proactive too.” The tenant shortage had also had an impact on rental prices, with owners dropping these by up to $10 a week. On-line agency TradeMe currently has 58 properties in the Ashburton District looking for tenants.

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