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Sunday, 18 March 2018 05:14 am

Landlords cry foul over rental crisis attention

Jan 30th, 2018 | By | Category: Lead Story

Landlords are worried the media is favouring anecdotes over statistical evidence as the Wellington rental crisis continues to gain attention.

Tenants throughout the capital are describing landlords as greedy, reporting large increases in rent.

Many students are accusing landlords of raising rent in response to the $50 increase in student living costs.

Wellington Property Investors’ Association president Richard Bacon says the media is portraying landlords unfairly.

Richard Bacon denies that landlords are hiking rents based on the living cost increase.

While the living cost increase is nationwide, the average rent increase of $42 in Wellington is significantly higher than the $15 increase in Auckland and Christchurch.

Richard Bacon points out that some Wellington landlords are raising their rent in order to cover increasing compliance costs after the introduction of the Wellington rental warrant of fitness.

The increase in rental prices has been forecast for a few months.

The free year of tertiary education is predicted to attract more students, while there has been a sustained fall in number of rental properties available.

Richard Bacon says rent is determined by supply and demand.

He recommends tenants research the tenancy services reports of what an average rent should be for a property.

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