Market rent is described (in the Residential Tenancies Act) as what a willing landlord might reasonably expect to receive, and a willing tenant might reasonably expect to pay for the tenancy, in comparison with rent levels for similar properties in similar areas.
Market rent is a useful guide when you are deciding what the rent will be. It needs to be comparable to the rent charged for other properties of a similar type, size and location. (If you are charging significantly higher rent than for other similar properties, the Tenancy Tribunal can order you to reduce it.)
We take information from bonds received within the last 6 months to provide an indication of the weekly rent charged in areas throughout New Zealand. (This information is updated every month.)
Information for immigrants on housing and rentals is available on Immigration New Zealand's website.
To find out what weekly rent is being charged in your area. Please go to the following website: http://www.dbh.govt.nz/market-rent
Source Department of Building & Housing
