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New system saving time: Govt

More than 120 mediation days have been saved so far in a trial of Fasttrack, the new dispute resolution channel for Tenancy Tribunal applications.

Wednesday, July 2nd 2014, 12:00AM

by The Landlord

The trial started in February, for big property management firms and Housing New Zealand.

It is designed to reduce the time it takes to resolve rent arrears disputes, which make up more than three-quarters of Tenancy Tribunal applications.

Instead of needing a full mediation, landlords and tenants who have an agreement about repayment of debt can have it formalised by a confirmation conversation. A pilot scheme found it cut the time taken to resolve applications from an average of 12 days to 48 hours.

It will eventually be available to all landlords and tenants.

The Department of Building and Housing said the implementation plan was on track and more high-volume users were being added.

“Of 711 Fasttrack applications received in our trials to date, 89.4% were formalised within 48 hours. This translates into 124.7 scheduled mediation days saved. We will be communicating later in the year when development of this service is completed and available to all landlords and tenants.”

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AIA - Back My Build 3.34 - - -
AIA - Go Home Loans 5.89 4.59 5.09 5.39
ANZ 5.79 5.19 5.69 5.99
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BNZ - Rapid Repay 5.94 - - -
BNZ - Std 5.84 4.59 4.89 5.29
BNZ - TotalMoney 5.94 - - -
CFML 321 Loans 3.95 - - -
CFML Home Loans 6.05 - - -
CFML Prime Loans 6.25 - - -
CFML Standard Loans 6.95 - - -
China Construction Bank 6.44 4.85 4.95 4.95
China Construction Bank Special 6.44 5.85 5.95 5.95
Co-operative Bank - First Home Special - 4.49 - -
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Co-operative Bank - Owner Occ 4.99 4.59 5.15 5.39
Co-operative Bank - Standard 4.99 5.09 5.65 5.89
Credit Union Auckland 7.70 - - -
First Credit Union Special - 4.89 5.49 -
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Heartland Bank - Online 5.30 5.89 - -
Heartland Bank - Reverse Mortgage 7.99 - - -
Heretaunga Building Society 6.50 5.50 5.65 -
ICBC 5.39 4.49 4.89 5.15
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Kainga Ora - First Home Buyer Special - - - -
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Kiwibank 5.75 5.49 5.79 6.15
Kiwibank - Offset 5.65 - - -
Kiwibank Special 6.15 4.59 4.89 5.35
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SBS FirstHome Combo 3.29 3.99 - -
SBS FirstHome Combo - - - -
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TSB Bank 6.59 5.29 5.89 6.09
TSB Special 5.79 4.49 5.09 5.29
Unity First Home Buyer special - 3.95 - -
Unity Special 5.79 4.49 4.89 -
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Median 5.94 4.69 5.19 5.39

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