9 Jul 2010

A week's free rent? Warning to check the fine print

9:43 pm on 9 July 2010

Offers of free rent in the Wellington rental apartment market have brought a warning that people shouldn't be blinded by offers that seem too good to be true.

A large new apartment block, the Soho, in the central city, which is currently listing more than 300 tenancies on Trade Me, offers incentives such as free internet use or a week's free rent.

Other reports include the waiving of letting fees by some landlords and the chance to win free carparking.

But the owner of the rental agency Personal Property Management, Aaron Graham, whose company isn't offering such incentives, told Radio New Zealand's Checkpoint that prospective tenants should check the fine print in these deals.

He warns that people could get into a situation whereby, after accepting a cheap introductory offer, the rent could rise substantially during their tenancy.