How investors can get the correct rent information of an apartment

Summary:

As an investor the easiest way to see what are current rent expectations is to look under apartments for rent on Trade Me.

Finding like for like apartments will guide you as will the amount of stock that is available and your urgency to tenant out your apartment.

Alternatively contact Apartment Specialists for assistance if required.

TRANSCRIPTION:

Good day and Andrew Murray here from the Apartment Specialists talking about Auckland apartment sales and questions I get asked. Now as an investor you often get asked or I often get asked, “Is this the correct rent?” You know and you're saying that this is unrented, how will you prove that. Now there's a lot of smoke, but as an investor you need to know these because they're correct. So what I'm saying is straight away go from Trade Me property, from sale to rent.

You often forget that because you’re looking for property to buy, but on Trade Me they are actually there. So let’s say we're looking for Zest apartment because it's not in there and when you search another will come up. And we're looking there, apartment, Auckland City, 72 Nelson St., which is the address of the unit, and you're going to get the units that you are looking to buy.

Here you can see pretty quickly okay 380, 390 and 370. Okay pretty it’s obvious, I did say the agency gets 400 a week. You can see that it's achievable at this time of the year, big month of the year. It is achievable but you're probably looking at these figures going through.

Now what you can also do is, what happens if you're looking for an apartment that is not common. Or you look for one that is similar to it. On Trade Me there's a lot that you can see in the city CBD, there’s 551 apartments there for rent. That's approximately about five percent coming from CBD which is a pretty good rate. And you're going to be able to find one - and I have given you a pretty good idea of where the market is.

You know I hope that helps and yeah obviously far many questions leading up, that around rentals, around the business something about that if you would like to go into detail.

Talk soon. Cheers! Bye!