tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, March 29th, 10:40AM

News

rss
Latest Headlines

RTA amendments over first hurdle

Law changes on the tenant damage liability and meth contamination front are moving closer with the Residential Tenancies Amendment Bill (No 2) passing its first reading in Parliament.

Wednesday, July 5th 2017, 12:00AM 1 Comment

by The Landlord

The Bill is intended to ensure that tenancy laws better manage meth contamination, liability for careless damage and the tenancy of unsuitable properties.

Building and Construction Minister Nick Smith said the Bill recognises that meth contamination of properties has become a significant issue that needs clearer direction.

“We want homes to be safe but we also don’t want properties being vacated when the risks are low.”

If the Bill passes into law, landlords will have easier access to properties to test for meth while tenants will be able to terminate their tenancy if meth presents at unsafe levels.

It enables the contamination thresholds and competency requirements in the new meth testing and remediation standard, which was released last week, to be legally recognised and enforceable before the Tenancy Tribunal.

The Bill also addresses tenant liability for careless damage – which has become an issue in the wake of the controversial Court of Appeal Osaki decision last year.

It provides that tenants will be liable for the cost of their landlord’s insurance excess up to a maximum of four weeks’ rent for each incident of damage caused by carelessness.

A tenant will be fully liable where the damage is deliberate or a criminal act, while the landlord will be liable for fair wear and tear and damage beyond the control of the tenant, like a natural disaster.

Smith said it will ensure landlords are not left out of pocket for tenant damage to rental properties and that tenants have an incentive to take good care of rental properties, while encouraging cost effective insurance arrangements.

Additionally, the Bill strengthens the law for prosecuting landlords who tenant unsuitable properties to include those who rent out unlawfully converted garages, warehouses or industrial buildings as living spaces.

The RTA Bill (No 2), which builds on the tenancy law changes made last year, is now being considered by the Local Government and Environment Select Committee.

Read more:

Tenant damage law change 

New meth decontamination levels revealed 

Rental insulation requirements are now law 

« New meth decontamination levels revealedPolitical support for longer term leases »

Special Offers

Comments from our readers

On 13 July 2017 at 9:15 am Methuselah said:
This bill is a weak vandals which does not address the tenant damage issue at all well.
Firstly many claims exceed a limited cover eg Meth claims and claims deemed to be "gradual damage" caused by tenants flooding service areas and leaving waterlogged.
Getting your excess from the tenant in such cases doesn't deal with a major portion of loss.
Also, if the landlord has to file more ltieclas for amounts above excess for assorted carpet or wall or window damages because the tenant is ONLY responsible for repairs h excess, then the insurance company will either increase premiums through the roof or refuse future cove, wither of which will ruin the landlord's ability to continue his investing business

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Mortgage Rates Newsletter

Daily Weekly

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.79 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.79 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 ▼8.09 ▼7.59 ▼7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 ▼9.09 ▼8.59 ▼8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

Last updated: 28 March 2024 9:42am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com