Property knowledge series: New Tenancy Law Changes
The Housing Minister has proposed changes to the Residential Tenancies Act 1986 which
- remove the ability for landlords to end a periodic tenancy agreement with no cause. The legislation will instead provide for a range of justified reasons to end a periodic tenancy, including new provisions to respond to antisocial behaviour.
- require that fixed-term tenancy agreements must become periodic tenancy agreements upon expiry unless: both parties agree otherwise, the tenant is not meeting their obligations, or specified grounds for the tenancy to end apply.
- increase financial penalties and give the regulator (through the Tenancy Compliance and Investigations team) new tools to take direct action against parties who are not meeting their obligations.
- ensure that tenants can add minor fittings such as brackets to secure furniture and appliances against earthquake risk, baby proof the property, install visual fire alarms and doorbells, and hang pictures.
- prohibit the solicitation of rental bids by landlords and limit rent increases to once every twelve months.
So if you are not up to date with the current tenancy legislation, you are best advised to get in touch with a property manager or to visit the many seminars that the Tenancy Services hold every year.