The Social Services and Community Select Committee has elected to progress the proposal to remove a landlord’s right to use “no cause” 90-day terminations to end a periodic tenancy agreement.
It has also given the green light to the proposal which requires that fixed-term tenancy agreements become periodic tenancy agreements upon expiry unless both parties agree otherwise.
These new regulations will significantly reduce the rights of rental property owners.
It’s not a major problem for landlords in some ways, as there is so much rental demand that they can wait for ‘perfect tenants’.
The problem is more about the increase in central government control and the loss of property owners rights. The saying “it’s a free country” has never been further from the truth.
Like many other central government’s misguided initiatives, it’s the tax payer who will be hit most, in this case to pay for more so called ’emergency housing’, which is really just housing for undesirable tenants.
The do-gooders in Wellington still haven’t been able to make the link between the decrease in landlords rights and the increase in ’emergency housing’. It’s actually very simple. Make it hard kick out bad tenants and landlords will look very closely at who they put into their property to start with. These new regulations mean that a whole new tier of tenants will now come under close scrutiny by landlords and many will end up in motels as opposed to good quality rental housing. The increasing rental crises is 100% on the central government politburo, not on landlords.
Rents will continue to increase and so will the number of people living in ’emergency housing’.
#assuredproperty #housing #rentals #propertyinvestment