Rental market madness

Demand for rental property in Auckland is at crisis point, with some houses now attracting as many as 200 would-be tenants.

Desperate tenants are often having to spend months searching for a place to live, and some even engage in bidding wars. Landlords are sitting pretty.

Rental agents say they are receiving hundreds of inquiries for listings, especially for stand-alone houses close to Auckland's central business district.

An agent who listed a four-bedroom property in Balmoral said he received 200 inquiries on the property before letting it out last weekend.

A property in Ethel St, Kingsland, attracted more than 200 would-be renters during a half-hour open-home.

"It's going to be very easy to rent it. Narrowing down the list of tenants is going to be the hard part, to be honest," landlord Dave Smith told TV3.

Rental agent Darryl Goode said in the current market, it was not uncommon for hundreds of people to register their interest in a property.

To read the full NZ Herald article, click here

Posted: 8 Feb 2011

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