Understanding and Updating Your RentEstimate
Updated: Aug 25
What is a RentEstimate?
A RentEstimate is an automated valuation range showing the estimated weekly rental rate for a property. It is generated using public data and current rental listings for similar properties.
A RentEstimate serves as a initial baseline for landlords and renters. Users should supplement this estimate with additional research:
Speak with a local Real Estate Agent or Property Manager.
Compare similar rental listings in the area on homes.co.nz.
Inspect the property in person when possible.
Why a RentEstimate May Be Unavailable
A RentEstimate will not display if there is insufficient local market data to generate an accurate estimate. This occurs most frequently for:
High-end or luxury properties with few comparable rentals.
Properties located in smaller towns or low-volume rental markets.
How to Update Your RentEstimate
Inaccurate estimates usually occur if council records or the underlying HomesEstimate data are outdated.
Follow these steps to submit updated information:
Verify Property Details: Check your property listing on homes.co.nz to ensure existing council and structural details are accurate.
Track the Property: Claim/track your home on homes.co.nz to edit basic property specifications.
Submit Verification Documents: If the estimate range remains inaccurate after updating details, submit one of the following proof documents to support a manual review:
Proof of Rental: A copy of a current Tenancy Agreement (with all personal tenant information removed).
Professional Appraisal: A formal rental appraisal from a local Real Estate Agent or Property Manager.