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Ten years ago, landlords only had the option of a 12-month lease. Five years ago, landlords had two options – stay with the traditional 12-month lease or try renting via short-term accommodation websites such as Airbnb or bookabach all year round.
But now today, there is a new option, which provides landlords with the best of both worlds. EasyRent is the first renting platform that offers landlords the ability to enjoy the best aspects of both a long and short-term lease.
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[dropcap]W[/dropcap]e are reshaping the current rental market in Auckland by introducing our new 9+3 month model. A traditional long term 12-month lease is split into a combination of the long term for 9-months and short term for 3-months. This model has been tailored to maximise landlords’ rental yield on their property specifically.
We provide a vast supply of pre-verified tenants at a time when there is a considerable shortage of renters in the market.
The Auckland rental market is changing and will continue to do so. Covid-19 has had a significant negative impact on the market and is forcing landlords to look elsewhere for tenants. The result of the “pandemic has caused the rental market to become flooded with properties” (Stuff, 2020) in more recent months. House prices have also fallen “on average 2% within Auckland” (OneRoof, 2020) since the start of the year. This has resulted in landlords struggling to find tenants and short-term accommodation landlords, in particular, are seeking a solution that will allow them the ability to rent both short and long term. EasyRent is the answer that landlords have been seeking. We provide a vast supply of pre-verified tenants at a time when there is a considerable shortage of renters in the market. The average rent in Auckland has begun to decrease as well (NZ Herald, 2020), bringing even more uncertainty to landlords who are already stuck with no rental income. Our solution provides landlords with consistent rental income for the entire off-season, therefore, eliminating the fear of having an empty property.
A Trade Me employee has stated that usually 6% of their ‘property for rent’ listings are offered furnished (Stuff, 2020). But since the first lockdown occurred in March, it has increased to 11%. Across New Zealand, many short-term accommodation landlords are changing to long-term rentals. Occupancy rates have dropped significantly on Airbnb and Vrbo according to AirDNA with Auckland being the worst-hit region for reduced bookings (NZ Herald, 2020). The combination of these impacts has lead landlords to pivot and look for a new type of lease or tenant. EasyRent provides both of these with its model designed to maximise properties rental yield using our exclusive selection of pre-verified student tenants. The student rental market has been disregarded in the eyes of some landlords in the past but now students are in a prime position to be one of the most suitable tenants available. Students have begun to be recognised as a potential solution to the problem with articles from stuff.co.nz suggesting that landlords should market their properties to students. There is no other tenant group who will consistently require leases for only the off-season during their academic year. This will ensure that your property is available to take full advantage of the increased summer rates over the 3 months.
EasyRent’s model focuses on maximising landlords annual rental yield by incorporating our unique 9+3 month model.
Since the market is evolving and adapting to the new challenges presented by Covid-19, why would you not want to develop with it? The property industry is still a traditional sector, but it’s fundamentals have been challenged and changed via innovative models such as Airbnb’s which has completely reshaped our accommodation sector. EasyRent is reshaping the private rental market and will grow alongside the quickly evolving property market.
Don’t get left behind, join EasyRent on its journey to provide landlords with a new & better solution when it comes to renting.