It is a good idea to consider the following factors when deciding how much rent you can charge:

• Where the property is – the region, town, suburb and even street will have an impact on the rent you can charge
• What condition it’s in
• What size it is.

To help you decide what rent to charge, below are several useful sources of information.

• Check the ‘for rent’ columns of local newspapers to see what’s being charged for similar properties in your area (you could also go and check some out).
• Look at websites such as Trademe or local real estate agents’ sites.
• Talk with agents or property management companies.  Ask for a rental appraisal.  There will be a small fee for this, but it will be well worth it in the long run and will indicate the market rent for the property.
• Look at Tenancy Services Market Rents, the Tenancy section of the Department of Building and Housing’s website.  This contains a breakdown of average market rents in your area, for different sized properties.

• Check out QV Insider – a website for property investors produced by Quotable Value that provides (amongst other things) data on rents in different areas. Subscription fees apply.

Remember, it’s important to review the rent regularly – see our Reviewing rent section for more information.

Next step | Working out the rental yield >>

This material is for information purposes only. You should seek professional advice related to your individual circumstances. While The National Bank has taken care to ensure that this information is from reliable sources, it cannot warrant its accuracy, completeness or suitability for your intended use. To the extent permitted by law, The National Bank does not accept any responsibility or liability arising from your use of this information. Our lending criteria, terms, conditions and fees apply.