Free rental appraisal

What is a Rental Appraisal?

A rental appraisal by an experienced property manager provides the landlord with a detailed report into the earning potential of their investment property as determined by current market trends and the rent levels for other similar nearby properties. Typically rental appraisals are provided to property investors free of charge.

With a Quinovic rental appraisal there is no obligation - we are happy to help.

Why Get A Rental Appraisal?

Rental appraisals not only provide landlords with the peace of mind that they are achieving the best possible returns from their property, they are also an important tool to help with achieving the necessary finance to buy or carry out renovations on your investment property.

A detailed explanation of the current rental value of a property is crucial in determining the amount that you can borrow towards a property and the repayments that you can afford to make. If your property is currently untenanted then having a rental appraisal in lieu of a signed tenancy agreement to provide the bank is an essential step prior to receiving finance.

Experienced property managers are also able to show how any future improvements carried out by a landlord to the property will be reflected in the future earning potential from the property, allowling the landlord to make better informed decisions.

 

When To Get A Rental Appraisal? 

With house prices and market rents growing at rates well above inflation in many parts of New Zealand over the past 5 years it is essential to schedule regular rental appraisals so that you can be confident that you are achieving maximum returns from your investment property.

In regions that have recently experienced rapid growth like Tauranga, Hamilton, Auckland and Wellington the rents set outside of the last 6 months may now create a situation where the return on investment for your property is underperforming that of other similar properties if you have not conducted a rental review and increased the rent accordingly.

Rental appraisals are just as important in rental markets like Christchurch and New Plymouth that are currently experiencing a contraction in median weekly rents. In a market where supply exceeds demand it is crucial for landlords to set a competitive rent level to avoid long periods where the investment property is vacant as a result of little interest from tenants.

 

Location

Median Weekly Rent

Percentage Change In Median Rent (Oct 2015 v October 2016)

Auckland

$510

+3.0%

Wellington

$420

+7.7%

Christchurch

$400

-4.8%

Hamilton

$370

+8.6%

Tauranga

$380

+15.5%

New Plymouth

$340

-2.5%

Napier

$320

+6.5%

Nelson/Tasman

$350

+4.3%

 

Quinovic Rental Appraisals

Quinovic property managers at all of our locations around New Zealand, from Christchurch to Whangarei, offer free rental appraisals on any properties whether they are investment or you are looking to rent out your current property for a fixed period of time. If you are interested in finding out the current market rent value of a property, then complete the form below - we will be happy to help.