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Front-footing change

Tenancy laws are in line for an overhaul as the Government set out to make life better for tenants – but what do the proposed reforms mean for landlords?

Monday, October 8th 2018, 8:00AM

Tenancy law reform is on the way. This shouldn’t come as a surprise to anyone.

The Government has been talking about reforming tenancy law as part of its mission to address housing market problems since it took office last year.

And there has been increasing agitation from tenants and their advocates about the rental market.

While the Government has been open about the type of tenancy reform proposals it is keen on, many landlords have been worried about exactly what form they might take.

This uncertainty was exacerbated earlier this year with the release of tenant lobby group, Renters United’s manifesto to “fix renting” in New Zealand.

Now, the Government’s tenancy reform proposals are finally on the table in the form of a discussion document on reforming the Residential Tenancies Act (RTA).

So what do the proposed changes mean for landlords?

In this month’s issue of NZ Property Investor magazine, we take a close look at the proposals.

We find out how they could impact on the rental market, discuss how landlords might start preparing for the future, and also cast a spotlight on the issue of pets in rental properties.

But perhaps the biggest point to emerge is that while more New Zealanders are renting and that means there are issues that need to be addressed, it is critical for any reforms to have balance.

NZ Property Investors Federation executive officer Andrew King says the current system can’t be replaced with a system that is completely biased towards tenants.

“There are rights and obligations for both landlords and tenants and the law needs to recognise and work for both. If one or the other has preference the law won’t work, balance is needed.”

To read more about the proposed tenancy reforms and what they might mean for landlords click here to get the digital issue of NZ Property Investor magazine.

Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.

Tags: politics

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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

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