Photo: Getty ImagesTwo organisations representing 20,000 landlords and real estate professionals are uniting to challenge the government's proposed changes to rental rules. The Real Estate Institute and Property Investors' Federation said they were concerned about proposed changes to 90-day notice rules for ending tenancies, in the Residential Tenencies Act. "The proposals outlined by the government, particularly in relation to the 90-day notice, feel as if they're eroding the rights of the owner too much and we feel more balance is needed here. "We believe this change will cause investors to leave the market, pushing up rental prices even further for tenants who are already struggling to pay the rent." Both organisations said they were happy to support the proposals to limit rent rises to once every 12 months, banning landlords from rental bidding.

Source: Otago Daily Times February 16, 2020 03:45 UTC