Rent to buy information?
Question from Barry updated on 15th August 2012:
My tenant has expressed interest in puchasing the property they rent through a rent to buy scheme. Where can I find information on how these arrangements operate? My property is located in Kapiti but I now live permanently in Australia.
Our expert Megan Martin responded:
The Residential Tenancies Act 1986 only applies to the relationship between a landlord and tenant in respect of their residential tenancy. It does not apply to a sale and purchase arrangement. I suggest you seek independent legal advice from a solicitor or community law centre for information relating to a rent to buy arrangement.
The Ministry of Business, Innovation and Employment provides information and guidance on building law and compliance, services including weathertight homes, and advice for tenants and landlords.