Property Management Legislation
The rental landscape in New Zealand continues to change , with new rules coming into force around how we manage our tenancies and the quality of properties that are provided for rent . The rules in place apply equally to both property managers and private landlords , so it ’ s important that everyone involved in renting property stays up-to-date .
Managing a tenancy is now heavily compliance based and there can be significant penalties for those landlords not managing everything that is required .
While many New Zealand landlords 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 .
Although the legislative goal posts continue to move , there are many clear-cut areas in which every landlord should already know the facts . These relate to your pre-existing obligations and other non-legislative issues you should consider carefully . These issues can include , but are not limited to :
• Minimum insulation standards for all properties and specific details required on all tenancy agreements
• Minimum requirements for all rental properties in respect of heating , insulation , ventilation , draught stopping , moisture ingress and drainage
• Significant recent changes to the RTA affecting rent increases , termination notices , fixedterm tenancies , minor property alterations , assignment of tenancies , rental bidding , fibre broadband availability and more .
• Requirements for landlord insurance information to be provided to tenants and included within any tenancy agreement
• Smoke alarm requirements for every property where both landlords and tenants have their own responsibilities
• Insurance changes and requirements that could affect your claims and cover , even if you think you have a policy in place
• Methamphetamine and the current risks that still exist , no matter what may be published in the media or what you may already have understood around the issue
• Health and safety requirements for all landlords that relate to property hazard identification , vetting and qualification of tradespeople , asbestos identification and other issues of this type .
All information in this guide pertaining to your legislative requirements is correct at the time of printing ( June 2023 ). We recommend you speak to your Ray White property manager to find out more , as changes in our industry frequently occur .
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