The New Zealand rental landscape continues to change, with new rules coming into play around how we must manage our tenancies, as well as the quality of properties that are provided for rent.
These rules apply equally to both property managers and private landlords, so it’s important that everyone involved in renting property educates themselves and is up to date with the new requirements. With the implementation of the recent RTA Act 2020 and the many significant changes this has brought into effect, this education element is now more important than ever.
Managing a tenancy is heavily compliance based with significant penalties possible for those landlords who are not properly managing their tenants and properties. While many New Zealand landlords still choose to self-manage their investment properties, they often do so without fully understanding the risks involved with non-compliance, which can be significant and costly.
Residential Tenancies Amendments Act 2020
The latest change for New Zealand landlords comes in the form of the RTA Amendments Act 2020, which brings with it more than 100 unique changes and updates to the overarching Residential Tenancies Act.
There are now more layers of compliance in place than ever before, and landlords must ensure they’re up to speed with how this can impact their processes and legal obligations. These layers of compliance include, but are not limited to:
For more detailed information on your legislative requirements and what’s involved, we encourage you to request a free copy of our comprehensive Landlord Information Guide. Our information guides are designed as an education resource for all landlords and investors, whether you are currently a client of ours or not.
Please, request your free copy below and experience the Ray White difference for yourself.