2019 was a tumultuous year for landlords, and 2020 isn’t looking much better. Let’s take a look and where we’ve been and what’s next.
LOOKING BACK AT 2019
LOOKING FORWARD TO 2020
Pukeko Rental Managers will be joining with the Property Manager’s Institute of NZ (PROMINZ) to fight the two controversial proposed changes to the Residential Tenancies Act (RTA). They are:
Happy New Year everyone!
On 27 August 2019, new legislation will take effect which will affect tenants’ liability for damage.
If tenants or their guests cause careless damage in a rental property, they will liable for the cost of the damage up to four weeks’ rent or the landlord’s insurance excess, whichever is lower.
Tenants on income-related rents will be liable for careless damage up to four weeks’ market rent or the insurance excess, whichever is lower.
Landlords will need to provide insurance information in any new tenancy agreement, and tell tenants if this information changes within a reasonable time. Landlords will also need to include a statement informing tenants that the insurance policy for the property is available on request.
For more info, check out: