R E N TA L A P P R A I S A L - S H O RT T E R M Address: 33 Rannoch Drive, Jack’s Point Created for: To whom it may concern
www.relaxaway.co.nz Top floor , 10 Athol Street | Queenstown | New Zealand T: +64 (0)3 442 7013 | F: +64 (0)3 441 8857 | E: queenstown@relaxaway.co.nz
Date: 12 Feb 2020
Thank you. Thank you for the opportunity to appraise your Queenstown property for holiday letting. Relaxaway holiday homes offers a premium service for owners and guests alike. 33 Rannoch Drive is a stunning property in a sought-after location, offering many attributes including:
• Three bedroom, two bathroom townhouse split over two levels
• Easy-care section
• Double garage
• Lovely mountain outlooks
• Walking distance to Jack’s Point Clubhouse
We’re pleased to be able to utilise our extensive market knowledge and suite of comparable properties to provide you with advice on the likely rental returns which may be generated by your property. The rental ranges shown here are reflective of the current market and cover an average of peak and off-peak rates. Renting your property as a holiday home is an attractive option, particularly to owners who seek flexibility of use combined with strong income potential. Taking holidays at times to suit you is a significant drawcard when comparing the advantages of holiday letting to the income security of long-term letting. Bear in mind, however, that we have a sister company offering long-term letting so are able to maximise your income through use of a combined letting strategy - please let me know if this is something which interests you. For owners living outside of the Queenstown area, the superior level of management, comprehensive communication and detailed attention to property maintenance ensure peace of mind wherever in the world you may be. The rental estimate provided overleaf takes into consideration every aspect of the property and its situation, including: • Property specification • Size of property • Number of people to be accommodated • Location • Views • Position within the market • Owner usage (and timing of this)
Occupancy Occupancy rates are the biggest variable in any holiday home, varying between 90 and 300+ nights per annum, with the majority achieving 150-250 nights per annum.
R E N TA L R A N G E Below are estimates of appropriate nightly rental and potential returns for your property. The estimated rental value provided is our opinion only and is relevant as at the date of this document and to market conditions and circumstances prevailing at this time. Relaxaway accept no responsibility for any person who relies on this appraisal for financial purposes.
E ST I M AT E D N I G H T LY R E N TA L
Low Season
High Season
Peak Season
$275 - $325
$325 - $375
$400 - $450
Average
$350
E ST I M AT E D N E T I N C O M E
Occupancy
30 days
50 days
70 days
90 days
Nightly rate*
$350
$350
$350
$350
Gross income
$10,500
$17,500
$24,500
$31,500
40% running costs
$4,200
$7,000
$9,800
$12,600
$6,300
$10,500
$14,700
$18,900
Net income
S E T T I N G R AT E S Whilst the rates outlined summarise our initial thoughts on the property, please be aware that these may require amendment following a more detailed viewing of the property and understanding of your expectations around income and occupancy. We have found that some owners wish to utilise the property for themselves, friends and family throughout the year, so it’s worth noting that the timing and volume of this can significantly impact the income potential of the home. To calculate accurate yields we will also require information on rates, insurance and body corporate fees.
W H E R E TO F RO M H E R E Thank you again for the opportunity to introduce the services which Relaxaway have to offer and to appraise the holiday letting potential of your beautiful property. I’ll leave you with what makes the difference when letting with Relaxaway:
• Operating since 2011, we’re a proven, long-
standing company with a wealth of very happy customers
• Our team of industry professionals offer 24/7 service to guests and owners alike • A focus on maximising owner income delivers outstanding results our property is marketed across all important • Y channels and portals
• Live online bookings provide peace of mind
• Professional marketers capture a concise and compelling vision of your property to entice guests • Full comprehensive financial reporting and organisation of maintenance are all part of the service
For any additional information, please get in touch on the details below. I look forward to speaking with you further.
JENNY PARKES BUSI N ESS M A N AGER M: 027 554 4023 | E: jenny@relaxaway.co.nz | T: +64 (0)3 442 7013
www.relaxaway.co.nz All care has been taken in preparing this appraisal, however Relaxaway holiday homes, its directors or employees accept no responsibility for the accuracy of the information at any time including liability in negligence to any other person. Whilst we believe this information is accurate, no liability can be accepted by Relaxaway holiday homes, its directors or employees for copy error or omission.