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New website a one stop shop or waste of time?

There is a new website aiming to be a one-stop shop for landlords and tenants wanting to do business.

Wednesday, July 30th 2008, 8:33AM

by The Landlord

The website – www.getleased.co.nz is touted as “the first website dedicated to providing a listing resource for private landlords, investors, property managers and real estate agencies looking for tenants”. It was launched by Christchurch businessman Terry Kearns this week and features a spattering of commercial and residential listings.

Kearns says Get Leased gives tenants an opportunity to view the whole rental market, with user-friendly browsing features providing up-to-date information.

“With a single listing priced from $30 and bulk listing packs at $100 a month, our fee levels should have strong appeal.”

But some of the major players in the property rentals market say they have not even been approached with the opportunity to add their properties to the site.

Bayleys rental manager Darryl Goode says he has about 90 residential properties on his books, so he is surprised nobody asked him to feature them. Asked to comment on if the site will work, he says it depends on the cost. Bayleys already successfully advertises many of its properties on TradeMe. “Our biggest form of enquiry comes off the TradeMe site.”

Goode adds the new site may be difficult to administer as many landlords give their listings to several agents at a time and they are often advertised at different prices.  “When the property is rented, our system automatically takes it off the website.”

Crockers’ Karen Coleman had never heard of the site and says they’re up against tough competition from well-established sites like TradeMe and Allrealestate. She says Crockers already advertises on TradeMe. “The fact TradeMe already has over a million people on it is a good reason to put your listings there.”

Richard Evans of Rotorua Rentals and chair of the Property Management group for the Real Estate Institute of New Zealand (REINZ) agrees. He believes the new website will find it hard to compete with well-established, powerful brands. “We need another website like a hole in the head. I would think they’re whistling in the dark. Nothing comes close to TradeMe in terms of results for landlords.”

Evans says to launch another website for landlords and tenants you need to have done a lot of work in terms of giving it the profile needed. “Who knows about this website? What tenants are aware of it? Unless there’s some heavy identification and marketing, I think you’re wasting your time.”

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.15 ▼4.04 4.49
ANZ Special - 3.65 ▼3.54 3.99
ASB Bank 5.20 4.15 4.09 4.39
ASB Bank Special - 3.65 3.59 3.89
BNZ - Classic - 3.65 ▼3.54 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 ▼4.15 ▼4.09 ▼4.39
HSBC Premier 5.24 3.35 3.35 3.35
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.30 4.34 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.59 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
Lender Flt 1yr 2yr 3yr
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.69 3.69 ▼3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.65 3.59 3.99
The Co-operative Bank - Standard 5.15 4.15 4.09 4.49
TSB Bank 6.09 4.65 4.59 4.85
TSB Special 5.29 3.85 3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.34 - - -
Westpac Special - 3.65 ▼3.54 3.99
Median 5.35 4.15 4.09 4.19

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