Landlords in the Dunedin student renting market are dropping their prices and waiving letting fees to fill empty flats.
Sunday, February 20th 2005, 7:06AM
by The Landlord
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.
Otago Property Investors Association North End representative Jim Casey said he suspected some landlords had too many dollar signs in their eyes.
Flat prices could range from $60-$100 a room, depending on location and quality.
