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: Monday, July 13th, 10:13PM

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
  • [The Wrap] Dealer group land like a game of Risk
    “Excellent. I've said for a long time that Dealer Groups were a necessary evil. Especially to the new entrant into the...”
    15 hours ago by BayBroker
  • Harking back to the old days
    “Tactical move by CIGNA and looks like they have a lot of bench strength now in sales, underwriting and product / pricing...”
    3 days ago by hitting rock
  • Greens want ACC extended to cover sickness
    “Never happen. The Greens are such an aspirational bunch. Must all the weed. They 'want' all sorts of unlikely things...”
    3 days ago by All hat no cattle
  • Harking back to the old days
    “Really positive news. NZ has been blessed by many successful leaders and it is good that their skills can skill be utilised...”
    4 days ago by Francis L
  • Harking back to the old days
    “I dare say Cigna just got that extra grunt it's been looking for....”
    4 days ago by Matron
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 4.55 3.19 3.19 3.49
AIA Special - 2.69 2.69 2.99
ANZ 4.44 3.15 3.25 ▼3.39
ANZ Special - ▼2.55 ▼2.69 ▼2.79
ASB Bank 4.45 3.19 3.19 3.49
ASB Bank Special - 2.69 2.69 2.99
Bluestone ▼3.49 ▼3.49 ▼3.49 ▼3.49
BNZ - Classic - ▼2.55 2.69 2.99
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.25 3.29 3.59
Lender Flt 1yr 2yr 3yr
BNZ - TotalMoney 4.55 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 4.75 4.75 -
Credit Union South 5.65 4.75 4.75 -
First Credit Union Special 5.85 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 4.35 4.45 -
HSBC Premier 4.49 2.60 2.65 2.80
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 3.99 2.58 2.68 2.79
Kainga Ora 4.43 3.29 3.39 3.85
Kiwibank 3.40 3.40 3.54 4.00
Kiwibank - Capped - - - -
Kiwibank - Offset - - - -
Kiwibank Special 3.40 2.65 2.79 3.25
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Lender Flt 1yr 2yr 3yr
Resimac 3.49 3.45 3.39 3.69
SBS Bank 4.54 3.29 3.19 3.49
SBS Bank Special - 2.79 2.69 2.99
The Co-operative Bank - Owner Occ 4.40 ▼2.69 ▼2.75 ▼2.99
The Co-operative Bank - Standard 4.40 ▼3.19 ▼3.25 ▼3.49
TSB Bank 5.34 ▼3.35 3.49 3.79
TSB Special 4.54 ▼2.55 2.69 2.99
Wairarapa Building Society 4.99 3.75 3.99 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - ▼2.55 2.69 2.79
Median 4.55 3.19 3.22 3.39

Last updated: 13 July 2020 7:38am

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