Understanding and Updating Your RentEstimate

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Inaccurate estimates usually occur if council records or the underlying HomesEstimate data are outdated.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:

1. Verify Property Details: Check your property listing on homes.co.nz to ensure existing council and structural details are accurate.

2. Track the Property: Claim/track your home on homes.co.nz to edit basic property specifications.

3. 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.