Overview of the Residential Tenancies Act 2024 amendments

Jan 01, 1970
Article appears under: , Auckland, Christchurch, Hamilton, iSellProperty, National, Palmerston North, Queenstown, Rotorua, Tauranga, Testimonials, Tokoroa, Whanganui, Case Studies, iRentProperty,

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In December 2024, the Residential Tenancies Amendment Act 2024 was passed through Parliament, introducing significant changes for both landlords and tenants. While some amendments came into effect immediately, others will roll out in 2025. Here, we explore six key changes. 

1. Reinstating No-Cause Termination

From 30th January 2025, landlords will once again be able to terminate a periodic tenancy without providing a specific reason by giving 90 days' notice.

This amendment is somewhat controversial. At iRentProperty, we did not actively support this change but acknowledge its utility in dealing with problematic tenants. That said, we are proud to report that bad tenants are a rare occurrence in our portfolio!

2. Shorter Notice Periods for Tenants to End a Periodic Tenancy

From 30th January 2025, tenants will need to provide only 21 days' notice (reduced from 28 days) to terminate a periodic tenancy.

3. Shorter Notice Periods for Landlords to End a Periodic Tenancy

From 30th January 2025, landlords can terminate a periodic tenancy with 42 days' notice under specific conditions:

• The property is required as a principal residence for the landlord or a family member for at least 90 days.
  
• There is an unconditional agreement for the property’s sale that requires vacant possession.
  

These changes provide landlords with greater agility in managing their properties while balancing the interests of tenants.

4. Changes to Online Bond Lodgements

Implemented in late 2024, these changes were intended to streamline bond administration. However, our experience at iRentProperty tells a different story. The removal of bond transfers and the introduction of two-page forms (replacing the previous one-page version) have complicated processes without adding value.

Nonetheless, we are committed to guiding our tenants through these changes to ensure all landlord obligations are met efficiently.

5. Pet Consent and Pet Bonds

While the implementation date for these provisions remains undisclosed, they represent a significant shift in tenancy regulations:

• Tenants may only keep pets if the tenancy agreement allows it.
  
• Landlords can refuse requests on reasonable grounds only.
  
• Tenants will bear full responsibility for pet-related damage beyond fair wear and tear.
  
• A pet bond (up to two weeks' rent) may be required in addition to the general bond.
  

These changes aim to balance tenant rights and landlord protections while addressing the growing trend of pet-friendly tenancies.

6. Changes to the End of Fixed-Term Tenancies

For fixed-term tenancies expiring on or after 1 May 2025, landlords can end the tenancy with 90 days' notice without providing a cause.

For agreements that started on or after 11 February 2021 and expire on or before 30 April 2025, the fixed-term tenancy will automatically convert to periodic upon expiry, in line with prior regulations.

Navigating Legislative Changes

These six amendments represent only a fraction of the changes introduced by the Residential Tenancies Act 2024. Keeping up with evolving legislation requires ongoing training and professional development—something our team at iRentProperty takes seriously.

If you are a landlord struggling to understand how these changes might impact your properties, we’re here to help. Get in touch with us to discuss your property management needs—we’d love to make life easier for you.

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