This story was in the Paper today, it may be of interest if you own student accomodation in Dunedin.
regards westan
PROPERTY MANAGERS REDUCING THEIR FEES
News Release Date: 18 February 2005 NZ Time.
Source: Otago Daily Times
Landlords in the Dunedin student renting market are dropping their prices and waiving letting fees to fill empty flats. Student accommodation officials say inexperienced landlords might have overpriced their properties, leading to more flats being left on the market in 2005. The University of Otago accommodation service still lists 163 flats available from an original listing of 876. At the corresponding time in 2004, only 106 flats were available from a listing of 810. A total of 108 vacancies within flats were listed. In 2004, the figure was 43. Service manager James Lindsay said some landlords had become desperate. “I can confirm we have had owners coming in here knocking the prices of their flats down in order to rent them,” Mr Lindsay said. The service, which charged no letting fee, had also been visited by commercial landlords who were forgoing their letting fees in order to lease their properties.
I live in New Zealand, for a fee find cash positive deals there, and now 15-25% Returns in the USA email me at [email protected] to join our database
Westan,
What do you think about the southside of invercargill?
Dom[biggrin]Hi Dom
i own properties in St Kilda and Mornington.
i really like the StKilda, South Dunedin areas for the following reasons.
1, St kilda is a beach side suburb- yes a sandy beach.
2. both are next suburbs to the expensive popular suburb of St Clair.
3. Both Suburbs are on Flat land, so they get sun shine all year unlike other parts of the city that are built on the hills. Flat land is also popular with older people so a lot of new development (Units) is being carried out for this market.
4. close to city and not too far from University. The uni has 25000 students and while that story mentions prices dropping, i am sure thay are still more than they were last year. Rents go up every year for Dunedin Uni students. Maybe some were getting too gready.I must admitt that i’m selling some properties in NZ to finance my USA investing, but i will not be selling properties in Dunedin or Invercargill.
Regards WestanI live in New Zealand, for a fee find cash positive deals there, and now 15-25% Returns in the USA email me at [email protected] to join our database
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