After an impressive run of rental growth there are indications Aotearoa is shifting into a more balanced rental market as we head into 2025.

 The latest Statistics NZ report on rental price movements across the motu show landlords can still make decent returns, but that tenants in Auckland and Wellington in particular are able to choose from a larger pool of rental options. Slowing net migration is also contributing to a flattening of the rental market, CoreLogic says in its latest housing report.

Infometrics chief forecaster Gareth Kiernan said the latest Statistics NZ data showed landlords were having to “compete harder in terms of the rents they are charging to attract tenants to take up rentals”.

 With more choice for tenants and slowing demand the key to continued landlord success is to keep existing tenants happy. Staying on top of property maintenance is crucial in keeping tenants satisfied.

 Regular inspections with your Raine & Horne Property manager are essential to identify problems with your rental early, issues such as leaking pipes, or mould that can be more costly to repair if left but can also lead to tenant dissatisfaction. Once faults are identified have them fixed quickly, while your property manager will follow-up to see if the repairs are holding.

 At Raine & Horne we prioritise ongoing training for our property managers to ensure they remain responsive, respectful and attentive to your tenant’s needs. They are your representative and having a positive relationship between your property manager and tenant is at the heart of long-term rental success.

 A good quality tenant pays the rent on time and treats the property like their own. To retain such tenants, consider fostering a long-term relationship by rewarding their dependability and respect for your property.

 Consider proactively offering your star tenant a long-term lease. This stability can appeal to tenants, and in return, it helps reduce vacancy periods, ensuring consistent returns while saving landlords the time and effort of finding new tenants.

 If your budget will stretch to it, consider upgrading older appliances such as ovens and cook- tops, replacing old curtains and adding new amenities such as heaters or a high-speed internet modem.

Spending wisely to hang onto a great tenant and positioning your property to attract the best candidates when it does become vacant is one of the best investments a landlord can make.

 Whether you want to rent, let, sell or buy a property, don’t hesitate to contact your local Raine & Horne office.