Renters ruling the Roost

October 19, 2008

Prime Indicators — Tags: , , — admin

The following article was initiated by the Andrew King newsletter, Prime Indicators. If you want to subscribe to this newsletter, see the sign-onĀ  section at the top of this website.

Tenants still have the upper hand in the rental market, and real estate agents are urging clients to inject their properties with the wow factor, or drop the rent if they want to fill them quickly.

RangitotoAndrew King, vice-president of the New Zealand Property Investors’ Federation, says it’s common to experience a flood of rental listings during the slump phase of the property cycle.

“In a slow market, tenants have a high degree of choice and often face nervous landlords who may be willing to reduce rents just to secure a tenant,” he says. (more…)

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