Cost of rentals in Christchurch.What a Joke Page 1 / 12

ashgrove, Feb 9, 5:58am
I look after my 83 year old mother, and we rent. now the owner has put the house up for sale. O MY GOD. look at what they cost. How can we afford
that. money hungry A_ _ HOLES

subs1, Feb 9, 6:00am
Just wait til all the repairs are done and all the landlords know they CAN charge more for rent since their houses have been fixed up and look better.

kabo1900, Feb 9, 6:30am
Yes they have gone up a lot in rent, but still not bad value compared to some other parts of the country. At least you can get a good modern house 2/3bdrm with a decent yard for around $400

esawers, Feb 9, 6:39am
Try other parts of the city, the only housing crisis is in the perceived good areas and school zones

kevymtnz, Feb 9, 6:43am
400 in chch never for me most id pay down there would 150max

kacy5, Feb 9, 9:01am
Might get you a tent these days.

subs1, Feb 9, 9:12am
$150 would get you a room in a house, then you'd have to buy food and what ever else.

lisa921, Feb 9, 9:12am
I don't get why landlords need to be so greedy. I have a 2 bed flat with small yard. That goes for 220 a week and won't be going up anytime soon because I don't think a 2 bed flat should be much over 200.

--corinne--, Feb 9, 9:29am
My daughter is in a 2 bedroom flat ,no garage $330 a week in chch

jamesnmatt, Feb 9, 9:30am
we've closed the borders to those from the Mount, so you are SOOL anyway

100peaks, Feb 9, 9:32am
So you're looking at purchasing the house, or looking for another rental! Rents have certainly jumped!

digga7, Feb 9, 1:01pm
It's always cheaper to buy a house. I would have never paid more than $300 to rent anything. We are currently looking for a bigger place to buy.

Housing prices at the moment are so low that there's no way that we can sell our 2 story, 4 bed house for the price that we would have got before the quakes so we will be renting it out for around the price of our mortgage which is just under $400 a week.

As long as we can cover the mortgage, we don't really care. Some landlords do need a kick up the bum though. They are taking advantage of those in need and creating a rental shortage.

It's not fair that after so many people pay rent, other things suffer such as buying food or paying bills suffer.

ryanm2, Feb 9, 6:18pm

what do you smoke - house prices are at an all time high in chch. And exactly how have landlords created a rental shortage! Its simply supply and demand.
If the EQC could sort themselves out, get houses fixed quicker, claims sorted and settled it could relieve pressure as the home owners that are renting wont need to anymore.

john247, Feb 9, 6:57pm
If you own a 3 bedroom home that is worth $320K and fully mortgaged it will cost $530 per week on a 20 year bases, this is with todays very low rates.
Insurance and rates $100 p/week, allow $50 per week for maintenance and repair and if it is property managed they take a cut.
Total $680
So when you see a 3 bedroom home for $500 - $600 p/week it is not that bad really!

dkpop, Feb 9, 7:04pm
We have a large 3 bed home in good area. Have not put rent up in 2 years. Should really as just covers mortgage. The real killer owning is rates. They have gone up a lot. So has insurance. So we still have to top up by more than $50 a week.

greenfruit1, Feb 9, 8:13pm
So exactly how did Landlords managed to create the Earthquakes that destroyed so many houses and commercial properties in Chch.

Doesn't matter if rents were $200 or $500 per house you still will get upwards of 60 plus groups looking for somewhere to rent. Supply and Demand.

greenfruit1, Feb 9, 8:20pm
Not all Landlords are "money hungry A_ _ HOLES"
I could just as easily say all tenants are "scum bag lowlifes not deserving "

Don't paint the majority because of a few.that is just plain silly.

kiaora4, Feb 9, 9:13pm
It makes me laugh when I see threads like this, with whinging tenants.OP you and you alone are responsible for the position you are in.You can not blame landlords, for the choices you have made, you cant blame the economy or anything, your responsible!

kiwicarol, Feb 9, 9:16pm
Op has no control over the ll deciding to sell the property she rents so rather a strange comment.

kiaora4, Feb 9, 9:19pm
Not landlords fault that op didn't buy their own house!

cluliz, Feb 9, 9:43pm
To kiaora4 I would point out that if there weren't tenants there would be no need for landlords so the original poster and his or her poor old 83 year old mum are simply fulfilling a role in society that balances one person's need to put a roof over their head and another's to make an investment in their future.The only problem here in Christchurch is the imbalance created by the earthquakes of excessive demand and reduced supply.So your self righteous comments about choices are irrelevant.I agree there are terrible tenants and exceptionally greedy landlords but they are not the majority.

annie_kiwi, Feb 9, 9:53pm
Agree with a poster #16, tenants seem to think that landlords run rentals as a charity.Our costs have gone up hugely, the insurance on my rental is now almost the same as for my own house which is over three times the size of the rental, rates have gone up hugely also.I made the decision to buy investment property a few years ago, it meant cut backs in my own life style to save the deposit and to pay the difference in the mortgage after the rent was paid but I sometimes wonder if it was worth it.I also forgot the tax bills I have to pay as well on the rent, as I am still working and the rent is taxed at the highest tax rate.All these people who moan about greedy landlords could perhaps try buying a property at a time when mortgage rates are so low.

munkweed, Feb 9, 10:54pm
Supply and demand. If you don't want to pay excessive rent, don't. Leave these houses empty then the rent will come down. But supply and demand dictates people will pay it because everybody needs a house. Or lower your standards and go to a cheaper area with poorer standard houses.

seaqueen, Feb 9, 11:43pm
You need a better accountant. How do you pay tax on a loss!

annie_kiwi, Feb 10, 12:10am
unfortunately not a loss as the mortgage is paid up but a very small return (and that's after taking off every possible expenditure), less that putting the $ in the bank (for the equivalent amount as the value of the property)!

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