Private Property Issue #102 - New tenant tool

Many investors ask, “What sort of person will rent my property?”

If only there was a tool you could use to discover what tenants want …

So, we built one. It's called the Tenant Tool, and you can use it for free.

Case Study – What can I find out about my future tenants?

Let’s say you want to buy a rental property in Mount Albert.

The data shows you that Mount Albert is full of families. 60% of renters are single families, and many are couples with children.

So, how many bedrooms do these tenants want?

Surprisingly, 2-bedroom properties are the most popular.

43% of renter-households live in 2-bedroom homes. That’s followed by 3-bedroom properties.

How much parking do these tenants need? Over half of the renters in Mount Albert have either 1 car or none at all.

So tenants don’t need much parking in this suburb.

You then use this data to buy the right property for the suburb.

In Mount Albert, a property with 2 bedrooms and 1 car park would suit a lot of renters.

To get a feel for what these tenants might look like, you can also see the average incomes and ages for the area.

How does this compare to other suburbs in Auckland?

You can also pop in another suburb to compare stats. How does Mount Albert compare to Mount Eden?

As mentioned, Mount Albert has lots of couples with children.

But in Mount Eden, couples with no kids are the largest demographic.

Because of this, smaller 1-bedroom properties are popular.

So, if you invest in Mount Eden, you might buy a different property than in Mount Albert.