Renting in New Zealand
Many people opt to rent in an area before buying a property. Doing this gives you a chance to familiarise yourself with a location, town or city before committing to a house purchase which can seem a daunting prospect on arrival to a new country.
Because New Zealand home ownership is so high, rental housing stock can be less than in other Western countries. As a result demand for good rental property is high. It pays to allow some time to find a suitable rental property and when you do find it be prepared to act fast!
What are rental properties like?
Most rentals are unfurnished although they do have curtains, carpet and an oven. They may have a laundry sink but not usually a washing machine, dryer, fridge or freezer. The landlord is not obligated to provide heating either.
What’s the best way of finding a property to rent?
To find a flat look in the local newspaper or on their website under the ‘To Let’ column. Some Real Estate agents also handle rental properties so it pays to contact one in the area you are looking.
How much does renting a house cost?
Prices will vary depending on:
- location
- whether it’s furnished or not
- what facilities it has; and
- the number of bedrooms.
The following are an estimate of weekly rental costs for a 3-bedroom house:
- Central Auckland $280 – $530
- Hamilton $180 – $300
- Wellington City $270 – $500
- Christchurch $200 – $400
- Dunedin $180 – $300
Tenancy Agreements
Once you’ve found a house to rent the landlord will provide you with a Tenancy Agreement that both of you sign. This outlines all the conditions of your lease and you and your landlord keep a copy each.
Regardless of what your agreement says, the law states that tenants are entitled to either 42 or 90 days notice (depending on circumstances).
Bonds
You will also be required to pay a bond on the rental property – usually the equivalent of two – four weeks rent.
The landlord will provide a bond lodgement form that you both complete and sign. The form and payment should then be lodged with the Tenancy Services Centre by the landlord within 23 working days, after which you’ll receive a receipt.
The bond is refunded when you leave the rental property providing all your rent payments have been met and there is no damage to the property. (To action this you and your landlord will complete a bond refund form that is sent to Tenancy Services).
Other useful rental tips
Throughout your rental of a property the landlord is responsible for repairs, although if it is an urgent matter and you can’t contact the landlord you can arrange for the repairs to be done and the landlord must then refund the cost.
When you’re renting contents insurance is a must as it covers not only your household possessions but also any accidental damage to the rental property.
For more information regarding tenant’s rights, bonds, tenancy agreements and repairs see www.tenancy.govt.nz
More information about finding a rental property in New Zealand
Premium Real Estate's executive rentals team specialises in rental properties from NZ$600 per week upwards.