How to easily increase weekly rents

Independent economist Tony Alexander’s latest investor sentiment survey shows 74% of landlords intend raising rents in the next six months, up from 65% in August. Most planned to raise rents by 5%.

Trade Me’s latest data shows the national median weekly rent across the country rose by 7.5% year-on-year, slightly north of the 7.3% annual inflation rate for the September quarter.

The national median rent being asked for on the site is $575 - $40 higher than September last year and has remained in the $570-$580 bracket since January this year. However, it actually fell by 1% or $5, compared to August.

National agency Property Scouts (https://www.propertyscouts.co.nz/) says landlords need to keep their properties up to scratch if they want to raise rents, but they don’t need to spend excessive amounts of time, money, or energy to do so.