1 April 2018 Newsletter - 1st Apr 2018

1 April 2018 Newsletter Occupancy rate 97.7%   Arrears – 0.8% for March 2018
 
Daylight saving has ended resulting in darker evenings coupled with a cooling in temperatures. The leaves are falling so for those owners with large trees close to the dwelling we must start thinking about gutter clearing prior to winter. Easter Weekend resulted in zero call outs for urgent maintenance so a positive result.
The Government has indicated that they are looking to introduce legislation to abolish letting fees this year so by April 2019 I would envisage that we will see a change in the landscape around fees. We at Haven are working closely with industry leaders and consultants to ascertain how best to deal with the signalled changes.
 
Rental Market
 
We have noticed a significant slowdown in rental demand in March, something that has not been seen for several years. As notified last month we are still seeing asking price on most properties being achieved however the time taken to secure the best tenants is drawing out.
The median rent for the Nelson region across all rental dwellings in February 2018 was $383.15 (Tenancy Services Market rent February 2018), and the median rent the Tasman region across all rental dwellings was $377.85 a slight decrease over the last month as the rental market cools along with the weather. 
With a high number of properties sold in the Nelson Tasman region in March (118) we believe that the median sales price has not risen as with past months, demonstrating a plateau of sales prices being achieved.
 
As we head into winter it is timely to note that if your property is to become vacant, we highly recommend looking at securing a fixed term tenancy for 6 – 8 months to bring it in line with the strong summer market. With the Government also looking to impose a ban on more than 1 increase per annum, the summer letting period provides greater stimulation of the market resulting in higher rents being achieved.
 
Rental Disbursement
 
The next rental disbursement will be on Monday 16th of April for mid-month and Tuesday 1st May 2018 for the end of the month.
 
 
 

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