The New Zealand Government is amending the Residential Tenancies Act to attract landlords back to the rental market by:
Re-introducing 90-day 'no cause' evictions for periodic tenancies.
Adjusting landlords' notice periods to 42-days under specific conditions and tenants' notice period to 21-days.
Allowing landlords to end fixed-term tenancies at term without a specific reason.
These changes aim to increase rental property supply, reduce rent pressure, and contribute to resolving the housing crisis.
Legislation will be introduced in May 2024, with effects starting early 2025.
For NZ residential investors seeking mortgage advice, take flight with Kea Mortgages.
info@keamortgages.co.nz
021 025 42780
