Residential Tenancies Bill Promising Rental Housing Improvements

Mr. Bishop highlighted the proposed changes to the Residential Tenancies Act 1986, aimed at removing barriers to increasing private rental housing supply and introducing "pet bond" provisions.

Housing Minister Chris Bishop has announced the successful first reading of the Coalition Government’s Residential Tenancies Amendment Bill in Parliament, marking a significant step towards improving tenancy laws and bolstering the supply of rental properties.

Mr. Bishop highlighted the proposed changes to the Residential Tenancies Act 1986, aimed at removing barriers to increasing private rental housing supply and introducing "pet bond" provisions.

Key changes proposed in the Bill, as part of the National-ACT coalition agreement, include:

Reintroduction of landlords’ ability to terminate fixed-term tenancies at the end of the term without specific reason.

Reintroduction of 90-day ‘no cause’ terminations for periodic tenancies.

Introduction of pet bonds, set at a maximum of two weeks’ rent, for tenants with pets, alongside consent requirements from landlords.

Making tenants liable for all pet damage beyond fair wear and tear.

Mr. Bishop emphasized the Government’s aim to foster confidence among landlords to enter or re-enter the rental market, addressing concerns raised by the previous government's policies which led to rent increases and housing shortages.

He stressed the importance of easing restrictions for renters with pets, acknowledging the significance of pets in Kiwi families and the difficulties faced by pet owners in finding rental accommodation.

The Bill is expected to come into effect in early 2025, with the pet-related changes following once the bond system is updated, anticipated later in 2025. It has been referred to the Social Services and Community Committee for public feedback through the submission process.

Mr. Bishop encouraged individuals to participate in the submission process to ensure their voices are heard in shaping future tenancy laws and rental housing policies.