06 Sep 18
Selling and Short Term Accommodation
As several more layers of complexity hit the Auckland apartment market, it’s more important now than ever to ensure you work with a specialist apartment broker.
Recently we’ve seen the Auckland council come down on short term accommodation providers, using a complex method to determine rate increases, which has knock on effects on sale prices and prospective purchasers.
Whilst on short term accommodation, further complexities have arisen when owners enlist a third party to manage or even hold tenancy in their apartments. Arranging access between check ins and check outs is proving more difficult than as with a long term tenant, and if it affects the providers income then the barrier becomes even higher.
In a buyer’s market, any reason to discount a property will be taken, so our brokers are working harder than ever to overcome any potential objection.
Short term accommodation has obvious advantages, I've seen astronomical returns and high occupancy rates. It does pay to bear in mind access when considering sale and I always advise my clients to take the hit and block out certain days to allow viewings.
Does your broker understand short term accommodation? Find one that does. Like me.
0211 500 484