The recently passed into law Residential Tenancies Amendment Bill will encourage more rental homes, provide greater clarity for landlords, and improve accessibility for tenants, REINZ says.
“This legislation strikes a fair balance," Jen Baird, REINZ chief executive says. “By creating clearer rules for landlords and improving opportunities for tenants, these changes will strengthen the rental market."
Key provisions of the bill include:
- Reintroducing 90-day ‘no cause’ terminations for periodic tenancies, allowing landlords to end agreements with clear notice;
- Adjusting notice periods for both landlords and tenants, providing flexibility; and
- Allowing landlords to require a pet bond, with new rules on pet consent and liability, making pet-friendly rentals more viable.
Baird says the reforms reflect a balanced approach to addressing market challenges.
“Measures such as the reintroduction of fixed-term tenancy termination rights and the introduction of pet bonds align with REINZ’s longstanding advocacy for practical solutions to support landlords while addressing the evolving needs of tenants.
REINZ has long advocated for stronger oversight of landlords’ property investments to ensure accountability and professionalism across the rental market, benefiting all stakeholders.
The previous Labour Government was on the verge of introducing a property managers’ bill to Parliament, but this was scuttled by the coalition government in favour of other reforms.
Baird says as the market adjusts to these reforms, REINZ hopes to see more landlords turn to professional property managers. “By working with qualified and experienced property managers, landlords can ensure they meet regulatory requirements while providing quality service to tenants.”
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