Renting Guide
Request a free rental appraisal now
Find out what your property could rent for today
Last updated: 8 December 2024
If you’re considering renting a property out or buying an investment property you’ll need a rental appraisal. This is a real estate professional’s estimate of what your property might rent for in the current market, taking into account its location, condition, size and amenities (and how it compares to similar properties in the area).
Request a rental appraisal right now
It’s always a good idea to get a few rental appraisals before you rent out your property. To make it easier for you we’ve gathered links so you can quickly request a rental appraisal from every major property manager in the country:
To request a rental appraisal you’ll need to fill out a simple contact form, then an agent or property manager will get in touch. They may ask to view the property in person, but not all agents will – some will provide an appraisal based on information and photos found online.
Next the agent or property manager will provide a rental appraisal, which will include a range of what the property may rent for (for example $650 to $700).
Stuff you need to know about rental appraisals
Rental appraisals should always be provided for free by a property manager or agent.
Property management companies usually use rental appraisals as sales tools to convince you to use them as your property manager – but you are under no obligation to do so.
It’s a good idea to get two or three rental appraisals before making a decision, so that you can meet a few property managers and pick your favourite.
You’re not obligated to go with the number provided in the rental appraisal. You can ask for more or less rent if you feel that it’s fair.
If you choose to use an agency property management fees are typically 7-12% of gross rental income.
How much would your property rent for?
Other ways to figure out how much your property may rent for
Get a rental appraisal online
The quickest and easiest way to get a rough idea of what your property may rent for in the current market is to visit Homes.co.nz by Trade Me and check out the RentEstimate function. Here’s how it works:
Go to Homes.co.nz.
Type in the address of the property in the search bar.
Scroll down to Property Estimates and select RentEstimate.
You’ll get a range that your property may rent for and an estimated rental yield.
Keep in mind that this is a figure generated by an algorithm so it should only be relied upon as a rough guide. If you want more certainty and detail you can click the ‘Get a free rental appraisal’ button below to request an appraisal from an agent in your area.
Check out the competition on Trade Me
To calculate your rental appraisal most property managers will look at what comparable properties in the area are currently renting for. They may have a database of rentals they’re managing that they’ll look at, but they’ll also look at what’s going on right now using a platform like Trade Me Property. You can do exactly the same thing.
Just visit Trademe Property and use the filter function to look at how much similar properties currently for rent in your area are going for, then use those numbers to figure out how much yours may be worth.
Look at market averages
If you want a very rough idea of what a property could rent for, it can be handy to look at market averages. You can find these by city and region on Trade Me’s rental price index.
Or if you want to go into more granular detail and look at median rents by suburb and number of bedrooms and property type check out Tenancy NZ’s market rent statistics here.
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