As a trusted property management company serving Hamilton, Waikato, Te Awamutu, and Cambridge, we understand how important it is for landlords and tenants to stay updated on changes to tenancy laws. The Residential Tenancies Amendment Act 2024 brings significant updates that affect everyone involved in rental agreements. Here, we’ve summarized the key changes and how they may impact you.
Online Bond Lodgement (Effective 17 December 2024)
Property managers will now be required to lodge tenancy bonds exclusively online. This digital process eliminates the need for signatures and manual submissions, streamlining the process for all parties. As your property management company, we will ensure that all bonds are lodged correctly and on time, making compliance hassle-free for landlords.
Tenancy Terminations (Effective 30 January 2025)
The rules around ending tenancies are changing, with updates affecting both periodic and fixed-term agreements:
Periodic Tenancies:
Landlords can now end a tenancy without specifying a reason by giving 90 days' notice.
Specific situations allow for a shorter 42-day notice period, such as if the owner or a family member needs the property, the property is sold, or it is required for employees as per the agreement.
Tenants can end a periodic tenancy with 21 days' notice.
Fixed-Term Tenancies:
These agreements will automatically transition to periodic tenancies unless notice is given between 90 and 21 days before the term’s end.
Our experienced property managers can guide landlords and tenants through these changes, ensuring a smooth transition and compliance with the new rules.
Technical Updates (Effective 20 March 2025)
Several administrative and procedural updates aim to modernize tenancy practices:
Electronic Communication: Notices can now be served via email or mobile, provided a physical address is also included.
Smoking Restrictions: Landlords can enforce bans on indoor smoking, with exceptions for outbuildings.
Family Violence Provisions: Tenants experiencing family violence can exit a tenancy with just two days' notice, provided qualifying evidence is submitted.
Tenancy Tribunal Changes: The Tribunal can resolve certain disputes without a formal hearing, saving time and resources.
We’re here to help you navigate these updates, ensuring your property management remains efficient and compliant.
Pet Consent Rules and Pet Bonds (Effective Date TBD by local councils)
Pets are often a topic of contention in rental properties. The new amendments include:
Written consent is required for tenants to keep pets, and landlords can only refuse on reasonable grounds.
Landlords can now request a pet bond of up to two weeks’ rent to cover potential damages.
Tenants are responsible for pet-related damages beyond fair wear and tear.
These changes balance the needs of pet owners with landlords’ concerns. As your property management company, we can draft clear tenancy agreements to address these provisions.
What This Means for Landlords and Tenants
Staying informed is crucial for successful property management. Whether you’re a landlord looking to ensure compliance or a tenant seeking clarity on your rights, our team is here to help. From managing tenancy agreements to conducting a thorough rental appraisal, we’re committed to providing expert guidance every step of the way.
Need Support with Your Rental Property?
At Better Property Management, our property managers are well-versed in the latest tenancy laws and best practices. We’ll handle the complexities so you can enjoy peace of mind. Contact us today to learn more or request a free rental appraisal for your property.