Front-footing change
Monday 8 October 2018
Tenancy laws are in line for an overhaul as the Government set out to make life better for tenants – but what do the proposed reforms mean for landlords?
Tenancy law reform is on the way. This shouldn’t come as a surprise to anyone.
The Government has been talking about reforming tenancy law as part of its mission to address housing market problems since it took office last year.
And there has been increasing agitation from tenants and their advocates about the rental market.
While the Government has been open about the type of tenancy reform proposals it is keen on, many landlords have been worried about exactly what form they might take.
This uncertainty was exacerbated earlier this year with the release of tenant lobby group, Renters United’s manifesto to “fix renting” in New Zealand.
Now, the Government’s tenancy reform proposals are finally on the table in the form of a discussion document on reforming the Residential Tenancies Act (RTA).
So what do the proposed changes mean for landlords?
In this month’s issue of NZ Property Investor magazine, we take a close look at the proposals.
We find out how they could impact on the rental market, discuss how landlords might start preparing for the future, and also cast a spotlight on the issue of pets in rental properties.
But perhaps the biggest point to emerge is that while more New Zealanders are renting and that means there are issues that need to be addressed, it is critical for any reforms to have balance.
NZ Property Investors Federation executive officer Andrew King says the current system can’t be replaced with a system that is completely biased towards tenants.
“There are rights and obligations for both landlords and tenants and the law needs to recognise and work for both. If one or the other has preference the law won’t work, balance is needed.”
To read more about the proposed tenancy reforms and what they might mean for landlords click here to get the digital issue of NZ Property Investor magazine.
Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.
Comments from our readers
No comments yet
Sign In / Register to add your comment
House Prices
Market rebound coming - Westpac
The cancellation of a capital gains tax combined with lower mortgage rates will be game changing for the housing market, believes Westpac’s chief economist.
Commercial
Transforming commercial investment
Many investors are switching from residential to commercial property and now a new platform aims to makes access to the sector easier.
Mortgages
Investor lending weak in March
The latest Reserve Bank lending data reveals investors borrowed more than $1 billion in March, the highest figure since November, but a 10% fall on the same period last year.
