New Zealand needs to improve the rights and conditions for tenants and landlords. Renting for decades may become the norm for people living in Auckland and for anyone with goals that don’t include owning their own home.
Tenancy agreements that offer greater security with longer tenures and other more equitable terms are offered in other countries and New Zealand could garner the best of what’s on offer and customise them to suit us.
Landlords agree our fixed term tenancies could come with added benefits and responsibilities. For example Tenants could redecorate but also be responsible for small maintenance jobs. This is currently offered in American tenancy agreements.
New Zealanders are very transient however with not only tenants moving around. Many home owners love to move house regularly too. The Government has just implemented the ‘bright line’ rule on properties sold within two years of purchase and it was revealed two thirds of the properties sold within the last two years were in fact owner occupied – not rental properties as most would expect.
Therefore flexibility with our tenancy agreements is also desired – but probably more so by the tenant. Landlords really do want reliable long term tenants. With flexibility in mind however the periodic tenancy arrangement could continue so our more transient tenants get what they want but more favourable conditions offered to the tenant and landlord with longer term fixed tenancy agreements.
A PropertyTalk member summed it up nicely by saying:
The problem with New Zealand’s rental system is that it assumes that the rules/rights/responsibilities are one size fits all.
This blog article was written for PropertyBlogs by Mobilize Mail.