New Zealand Rental Law Changes

New Zealand has recently passed significant amendments to its residential tenancy law. These changes aim to increase rental housing options, but they also introduce new rules that could impact both landlords and tenants.

Key Changes:

• Ending Tenancies: Landlords will have more flexibility to end periodic tenancies with a 90-day notice, while tenant notice periods will be shortened to 21 days.
• Pet Bonds: Landlords will be able to charge higher bonds for tenants with pets to cover potential damages.
• Act Clarifications: The law will clarify smoking prohibitions and streamline online bond lodgement.

Potential Implications:

Landlords:

• Increased flexibility to end tenancies
• Potential for higher rental income with pet bonds
• Reduced administrative burden with streamlined processes

Tenants:

• Easier to find pet-friendly rentals
• Shorter notice periods for moving
• Potential for higher bond costs for pet owners

While these changes aim to balance the interests of both parties, it's crucial for landlords and tenants to understand the new rules to ensure smooth rental arrangements.

Read the full article here: What will new changes to tenancy law mean for landlords and tenants?