Kia ora, and welcome back to our blog series, where we delve again into the ever-evolving world of property investment and management. Today’s topic is significant for our landlord clients, as we will be diving into the changes announced by The National Party around the notice periods for periodic tenancies. 

Originally introduced in February 2021, changes affected how much notice landlords needed to give tenants when ending a periodic tenancy and vice versa. Landlords have to provide 90 days’ notice to sell the property, renovate, or redevelop it. For tenants wanting to move out, they have had to give 28 days’ notice to their landlords. 

Here’s the good news – the new regulations (once they are finalised) bring some flexibility for both landlords and tenants. For landlords, the notice period for selling, renovating, or redeveloping a property will be reduced to 42 days. Similarly, tenants will only be required to give 21 days’ notice if they plan to move out.  These adjustments aim to balance the rights of tenants and property owners.

Key Points for Landlords:

  • The 42-day notice period will only apply if you intend to sell, renovate, or redevelop your property.
  • The notice period for tenants wanting to give notice will be 21 days.
  • It will be crucial to provide your tenants with written information on the changes once the new regulations are introduced.

If you have any questions about these changes, don’t hesitate to contact our experienced property management team. We’re committed to supporting landlords in the Rodney, North Shore, Whangaparaoa, and Hibiscus Coast areas and ensuring a smooth and stress-free experience.