Rugby World Cup

There has been much hype in the press surrounding opportunities for huge rental returns during the Rugby World Cup (RWC) next year.

The RWC official website has some good background. They believe that during the pool play, from September to early October most teams and supporters will be distributed around the country. Most people will not want to stay more than two or three weeks in one place, and many will choose to use campervans to house and transport themselves. In addition there are three cruise ships that will be in Auckland for the finals play adding another 5,500 beds.

The peak demand for accommodation in Auckland will come around the finals from early to mid October. It would not be wise to terminate an existing tenancy for a better return for such a short period, and run the risk of having the property vacant before, and/or after that time, while we find another tenant during the tradiitonally quiet end of year period.

There are also risks with a short stay tenancy as the Residential Tenancies Act does not apply to holiday accommodation, and there are additional costs associated with servicing and providing utilities such as power and gas that need to be considered.

There will be opportunities for owners whose properties happen to fall vacant around that time to maximise their returns for a short period. First Street Serviced Apartments are well positioned to advertise these properties and advise owners who are in a position to consider this as an option. So if your property becomes vacant closer to the World Cup we will be in touch with you.