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

Open Source // Open Society - Full Coverage

Gordon Campbell:
On The Reserve Bank And Auckland Housing

The ‘crisis – what crisis?’ response by the government to the Auckland housing price bubble is no longer acceptable.

So says Reserve Bank governor Grant Spencer – who used unusually frank language in his speech and subsequent interviews yesterday to call for a capital gains tax, and to generally chastise central and local government for their inaction on a threat to the country’s economic health and financial stability.

That threat has been real for some time. The housing price bubble has already created a currency bubble... Undaunted, the government keeps calling this situation a success story. More>>

 

PARLIAMENT TODAY:

Bangladesh: GCSB Dragging NZ Into Human Rights Abuses

The New Zealand government should stop providing intelligence assistance to Bangladeshi security agencies that are known to systematically engage in human rights abuses, said the Green Party today. More>>

ALSO:

Troops Heading To Iraq: Government Must Come Clean On Deployment

New Zealanders deserve more than to hear about their troops’ deployment overseas from Australian media, Opposition Leader Andrew Little says. “News from Australia that Kiwi troops are on their way to Iraq this week is another example of the culture of secrecy and unknown protections around the deployment.” More>>

ALSO:

Image: Strikers And Protestors Join Outside McDonald's

A group of protestors took to McDonald’s Manners St today as a part of the international fast food workers day of action to end zero hour contracts. More>>

ALSO:

Greens: Special Education Funds Not Spent

More than $32 million of funding for children with special needs has not been spent by the Government, despite families of children with special needs complaining for years that they’ve been denied the support they deserve. More>>

ALSO:

John Key: Pre-Budget Speech To Business NZ

So this Government will remain relentlessly focused on improving the competitiveness of our economy... We will continue to give businesses a platform to invest, grow and create jobs in the knowledge they will be backed by a clear and consistent government policy programme. More>>

ALSO:

Multimedia: Andrew Little’s Response To John Key’s Pre-Budget Address

Labour Party leader Andrew Little spoke today on John Key’s pre-budget address this afternoon in Wellington. Little said National has had seven years to achieve a surplus and Kiwis have “fufilled their end of the bargain.” More>>

Surplus Baggage: Key Backs Off ‘Artificial Target’

John Key’s attempt to redefine his cornerstone promise of two election campaigns as an artificial target suggests his other promises are works of fiction, says Labour’s Finance spokesperson Grant Robertson. More>>

ALSO:

Gordon Campbell: On UE Pass Rates And University Dropout Rates

Houston, there is clearly a problem with (a) the plunge in pass rates for University Entrance qualifications, which has been especially steep among Maori students and also a problem with (b) the failure rates for Maori students among those who reach university... Unfortunately the two problems seem related. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
More RSS  RSS
 
 
 
 
Regional
Search Scoop  
 
 
Powered by Vodafone
NZ independent news