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Property Management Legislation
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.
Some key legislation that has a direct relationship to property management and rental dwellings includes, but is not limited to:
- Residential Tenancies Amendments Act 2020
- Residential Tenancies Amendments Act 2019
- Healthy Homes Guarantee Act 2017
- Residential Tenancies (Smoke Alarms and Insulation) Regulations 2016
- Health and Safety at Work (Asbestos) Regulations 2016
- Building (Pools) Amendment Act 2016
- Health and Safety at Work Act 2015
- Building Act 2004
- Residential Tenancies Act 1986
- Health Act 1956
- Housing Improvement Regulations 1947
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:
- New allowances for tenants surrounding minor alterations to a rental property, tenancy assignment, security of lease tenure, fibre broadband and more.
- Minimum requirements for all rental properties in respect of heating, insulation, ventilation, draught stopping, moisture ingress and drainage.
- Requirements for landlords 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 can impact both claims made and the cover provided for landlords.
- Methamphetamine and the current risks that still exist, no matter what may be portrayed in the media or what you may already understand around the issue.
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.