Landlords reap benefits of Lodge property manager’s market knowledge

Hamilton property investors, John and Robyn, had a piece of land they wanted to develop near the University of Waikato. Land and property in the Hamilton suburb of Hillcrest has long been a profitable investment choice with a regular source of tenants in the form of students and academics.

However, during recent years, property development around Hamilton’s largest tertiary institution has changed, with high-density, multi-storey apartment living changing the landscape.

The background

Lodge City Rentals General Manager, David Kneebone, knows Hamilton East well. His family owned property on Cameron Road in Hillcrest since way back in 1937, so when John and Robyn wanted advice on what to build on their residential high property near the university, they knew who to turn too.

Happy to show his clients around his old neighbourhood, David met with John and Robyn to provide them with some options. “I took them on a tour of the area and further afield to show them the types of properties I would recommend,” explains David.

“In my position with Lodge, and as a landlord of rental properties myself, I was able to draw on my knowledge of the rental market to suggest the right development for John and Robyn to maximise their site.”

The challenge

David’s experience of developments in the area and his precise knowledge of expected realistic rental returns meant John and Robyn could plan the ideal rental investment for the site.

‘I sat down with them at a local café and literally went over the budget with them on a paper napkin!” David recalls.

Having recently assisted other clients with similar projects, David’s up-to-date knowledge meant the “napkin budget” was virtually exact. “The only sums I got wrong was my conservative assessment of when the 15 studio units would be fully tenanted,” he said. “The team at Lodge Rentals managed to exceed my budget by placing tenants in all units much earlier than I anticipated.”

The outcome

The result was a fantastic development which the market embraced fully. John and Robyn were looking for more than someone to find tenants and manage their investment; they required the benefit of David’s 30 plus years in the Hamilton residential market and their expectations have been well exceeded.

“Sharing my knowledge of the Hamilton rental market meant my clients could maximise returns on the development of their site.”

David Kneebone

P: 07 856 4500

M: 021 743 204

E: davidk@lodge.co.nz

www.lodgerentals.co.nz

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