Multiple Wellington landlords are encouraging bidding wars among potential tenants by exploiting the capital’s desperate rental crisis – and apparently there’s nothing in the law stopping them. Trade Me figures show average rents in Wellington grew from $440 a week in 2010 to $520 in 2017.
• Trade Me’s year-on-year figures from April show that the number of rentals on the market dropped 65 per cent while rent prices and viewings increased by 11 per cent.
• Wellington MP Grant Robertson knows of multiple cases of renting tenders in Wellington – from around the start of the year when students were returning to the capital. “I think it is barely legal,” he said. Labour has a package of measures to be released shortly to strengthen renters rights, he also said.
• Ministry of Business, Innovation and Employment national manager tenancy compliance and investigation Steve Watson said the practice was allowable under the Residential Tenancies Act.
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