Gold-plated rental pad
A Queenstown letting agent has listed a Lake Hayes mansion at what he reckons is the resort’s steepest rent – $3000 weekly.
Paradise costs: $3000 a week gets you this mansion in Lake Hayes, Queenstown, with mountain and lake panoramas
It’s certainly the Wakatipu’s most expensive rental property, Keith Hibbs of Executive Accommodation says.
The property – at 89 Sicilian Lane, high above the picture-postcard lake – has five bedrooms, five-and-a-half bathrooms, two lounges, a cinema room, four-car garaging and panoramic views.
Hibbs listed the property for long-term rental about a month ago – there were no nibbles so the rent’s now negotiable, he says.
Anyone signing up at $3000 a week would have to shell out $18,450 upfront – that’s one week’s rent in advance, another four weeks’ rent as bond, and a $3450 letting fee.
While Hibbs may have the resort’s most expensive rental on his books, his firm also rents out at least 20 other properties fetching $1000 or more per week, he says.
Rental shortage unlikely
A veteran letting agent doubts Queenstown will suffer a rental crisis this winter.
“It’s early days but I can’t see a major shortage this winter,” Resort Rentals’ Doug MacGillivray says.
MacGillivray calculates a total of about 140 properties are available for rent in the Wakatipu.
“The market’s reasonably well-
served at this point.”
Rents are about on par with last winter, MacGillivray says, and tenants could perhaps pay even less than last year.
“If a lot of those 140 properties aren’t rented in the next wee while, there may be the opportunity for tenants to negotiate a little bit,” he says.
Who rents these luxury residences?
“Movie crews have taken a couple,” Hibbs says, plus foreign businessfolk who base their families here while they commute to work elsewhere in NZ.
“I think we’re going to see a whole lot more of that,” Hibbs predicts.
Another segment is people who rent while they search for a place to buy.
“And they pay some good money,” Hibbs says.
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