Home / Property Management News November 2022
As we embrace the spring weather, we are certainly seeing activity on the rental market. Rents have increased over the last 12-18 months in Christchurch, with some properties achieving some significant increases – finally Christchurch is catching up with the rest of New Zealand There are also fewer properties available for rent, and this is also contributing to the rent increases we have seen. There are many new builds throughout the Christchurch region, extending to Woodend and Rolleston, and 3-4 bedroom houses in particular, are proving to be popular. Of course, as always, properties must still be priced to meet the market – people looking to rent are very savvy with how much they are prepared to pay.
Our ‘student season’ is ‘done and dusted’ for another year. This was also the first student season where the new tenancy legislation applied ie. The removal of the no cause termination and fixed terms automatically becoming periodic. Except for 2 or 3 tenancies all other student groups, fully aware of the legislative changes, still opted to give notice to either retain the tenancy or to vacate when the current lease expired. We did not find that this new legislation adversely affected the student season. The result was another record month with 128 student properties leased in August. It is particularly encouraging when so many of our student tenants choose to stay on as tenants with us for another year. We enjoy re-tenanting to current or previous tenants because this usually guarantees a trouble-free tenancy.
Given the current staff shortages throughout New Zealand at the moment, it was wonderful to be able to celebrate a milestone service moment just recently. On 30th September we all headed out to dinner to celebrate Fiona’s 20th year anniversary at Whittle Knight. We all had a fun time celebrating with Fiona. Metropol Magazine were in attendance to capture the occasion. We know that many of Fiona’s clients have been with her for most of those years. Fiona’s dedication, commitment to service and loyalty to the company have proved to be her winning formula. We all enjoy our ‘Fiona moments’ and long may she continue to do so.
Featured below Gillian Knight, Fiona Lynch, Ian Knight, and Gill Knight.