Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 


Big demand for room by room rentals in Christchurch

Big demand for room by room rentals in Christchurch


4 February 2014 - High demand for rental accommodation in Christchurch is prompting a growing number of ‘room by room’ rentals.

Under this scenario, people rent a bedroom and share common areas and facilities in the house with other tenants who they haven’t previously met.

Caroline Register, Manager of Harcourts Holmwood Property Management Group, says the room by room rentals are keenly sought by contractors in the city for the rebuild, in particular, and students seeking accommodation.

“Before the earthquake it was international students, students, people on working visas and contractors /workers from other parts of New Zealand. Since the earthquake, demand is very much dominated by contractors and workers.”

Average rents range between $180 and $240 a room, including all services and Register says that tenants usually stay six to 12 months.

“But if they have to leave earlier than the originally contracted time, they can opt for the notice period of 48 hours after the initial 28 day term. This flexibility is very attractive as an alternative to a fixed term tenancy that binds them to contractually stay. “

She says Holmwood actively manages the houses if problems arise but problems are rare.

“When friendships are established, often the house functions as it would with normal flatmates. We rarely have any issues as we are selective in the first instance to put people together we believe will get along well. Many often move on to flat together.”

Holmwood currently manages just under 200 room by rooms. Register says some residential investors are actively looking for this type of property while others have changed to room by room due to the demand.

“There is a high demand for this accommodation and, managed correctly, they achieve good returns for owners. There are always investors who will look outside the norm to accommodate niche markets. As a result, they may make better returns.”

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Issue 49: Werewolf Weekender

Philip Matthews: From The Lost Continent
It’s a case of better late than never for Olivier Assayas’ marvellous After May/Apres Mai, which first screened at Venice in 2012, had a couple of North Island screenings last year during the International Film Festival’s “Autumn Events” season, got a theatrical release in Australia – but not here – and only now appears on DVD, after Assayas himself has moved on. More>>

The Complicatist: Blue Eyed & Soulful
For a while in June, the top two singles on the US Billboard charts featured Iggy Azalea, an Australian model turned hip hop performer. To some, this may seem like just the latest chapter in a long saga of whites ripping off black culture, while enriching themselves in the process. Obviously, there’s some truth in the stereotype. Yet it can also obscure the positive collaborations – in jazz, soul music and hip hop – between musicians who treated each other as creative equals, race regardless. More>>

Satire: Carry On Captaining
Oh hello. Scanner Technician Davis. To what do I owe the pleasure?
You think we’re what?
Oh, pish. This vessel has been travelling along smoothly for generations – particularly smoothly in the last few years though I say so myself – and I happen to know we have never once been hit by an asteroid... More>>

 

Parliament Today:

False Electoral Return: John Banks Sentenced To Community Detention, Community Work

“The conviction of John Banks today is another sad chapter for John Banks and the ACT Party”, says Labour candidate for Epsom Michael Wood. More>>

ALSO:

Gordon Campbell: On The Rise Of ISIS And Labour

While global attention got distracted by the fate of MH17 and the atrocities in Gaza, the world’s other mega ‘bad news’ story – the rise of ISIS-led fundamentalism in Iraq – has reached a tipping point. More>>

ALSO:

Rebuild: Christchurch City Council Releases Milestone Report

The Cameron Partners report says the Council may need to find an additional $783 million to $883 million by 2019... Options Cameron Partners proposed include increasing rates, borrowing more, maximising insurance payments, and freeing up capital from its commercial assets. More>>

ALSO:

Parliament Today: Parliament Adjourns

The 50th Parliament has adjourned for the final time. After the completion of the adjournment debate, MPs left for the campaign trail with Parliament to be dissolved on August 14 ahead of the September 20 election. More>>

ALSO:

Novopayout: Government-Owned Company To Take Over School Payroll

After lengthy negotiations, the Ministry of Education and the existing school payroll provider, Talent2, have settled both on the amounts payable by Talent2 towards the costs of remediating the Novopay service and a new operating model for the school payroll system. More>>

ALSO:

Employment: Labour Will Raise Minimum Wage, Restore Work Rights

A Labour government will raise the minimum wage $2 an hour to $16.25 and restore work rights to ensure the benefits of economic growth are shared fairly by all New Zealanders, Labour Leader David Cunliffe says. More>>

ALSO:

Police: Crewe File Review Released

No new evidence has come to light implicating any specific person as being responsible for the murders of Jeannette and Harvey Crewe... The review identifies there is a distinct possibility that Exhibit 350 (the brass .22 cartridge case) may be fabricated evidence, and that if this is the case, that a member of Police would have been responsible. More>>

ALSO:

Werewolf Issue #49: Gordon Campbell Interviews Laila Harre

For 25 years, Labour and National have been in virtual agreement about the basics of economic policy, and differed mainly on how to go about managing its social consequences. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news