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Rules, Strategies And Tactics Of The Property Investing Game Revealed.

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26 March Press Conference: Tenancies Excerpt

Minister of Finance Grant Robertson provided more detail around tenancies. Key points were:

Rent Freezes: Rents are frozen. Increases in rent over the next 6 months are prohibited for any reason.

Tenancy Termination: Landlords will be unable to terminate existing tenancies unless limited and specific justified reasons apply. The reasons are:

  • Where the tenant is 60 days behind in rent. This is an increase from the normal period of 21 days.
  • Where the tenant substantially damages the property
  • Where the tenant assaults or threatens to assault the landlord or their neighbours.
  • Where the tenant engages in significant anti-social behaviour.

He also spoke directly to landlords of commercial property and urged them to speak to their tenants and encouraged them to work with them.

Watch the briefing here.

For more information about tenancies and downloadable forms follow this link.

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