Time to Set the Terms.

Wellington has a distinct peak letting season, and that is late summer, around the end of January to late February. This is the time all landlords should be getting the optimum rent for their property and having a choice of tenants. Its the time landlords call the shots with lease terms and conditions, because, well, to put it crudely, it tenants don't agree, there will be another one along in a minute who will.

Why then do some landlords agree to 6 month leases at this time? Madness! This sets them up to trying to rent their property in winter, when it is dark, cold, and wet. It has to be an exceptional property to get a lot of attention then. There is no rule that says leases must be either 6 months or 12 months. There is no rule that says you need to agree to longer terms (eg years) without lease renewals.

At peak letting time, you call the shots. Set the length of lease to end at the next peak letting season, no longer or shorter. Don't discount the rent for 'long term' or 'good tenants' - you're missing out on profits. Do include a rent review clause. Don't agree to pets unless they have glowing references and never inside smokers. If you are tempted to do so, reach for the phone and call us immediately to save your sanity.

Click here to get Rental Results Property Management