Rugby World Cup Jackpot ?

Or not ?  It seems that there a number of opportunistic landlords out there who are so focused on short term gains that all other considerations are excluded . . .  like the effect evictions may have on existing tenants.

Landlords need to be careful here, as what they are doing is opening up their houses (and in some cases their own private homes) to party people on holiday.  Male dominated, boozing rugby fanatics may not be the ideal tenants and could leave the property in a less than satisfactory condition with a bitter taste in the Landlords mouth.

However, property management companies and private Landlords should also be wary as existing tenants may also be grappling with their chances of a financial windfall by subletting their property during the world cup period.  In their haste to sublet, they may be even less cautious than landlords and property management companies with corresponding risk escalating markedly.

It’s easy to see why some are tempted given the $5,000 to $8,000  rents being asked for some of the properties in the Eden Park vicinity, but caution must prevail as being too greedy can invite more harm, financially and emotionally than one may have bargained for.

Also, consider once the World cup is over, overnight there will be a mass exodus from the Eden Park area leaving many homes vacant – factor in the length of time to place another tenant, cleaning, repairs and maintenance costs, will the final payoff really be worthwhile?

If you are considering tenanting to World cup enthusiasts, and decided to terminate your current tenants from the property, perhaps it would be prudent to be up front and honest with them and tell them exactly what your intention is – this may then encourage them to return to the property negating any lengthy downtime you may suffer.  Or perhaps you may even establish a joint venture with your tenants, sharing the spoils between the both of you.

Whatever, anyone decides, make sure you think about what you are doing and how you go about it to mitigate any loss you may incur.

At the end of it all – make sure you watch the games and ‘Go the All Blacks’ !