Countless successful agents stand by the fact that the best way to prospect for real estate in New Zealand involves understanding factors affecting the property market. Knowing how your potential clients (buyers and sellers) think right now can pretty much turn you into a mind reader & influencer when it comes to getting listings and closing sales.

And this is why the recent tenancy regulations proposed by the NZ Government should not be overlooked and should indeed be dissected.

The new regulations proposed for New Zealand rental properties are set to come into play by 2020.

Many landlords are either considering or actively looking to sell up their rental properties before the new regulations come into effect. This is good news for real estate agents with an opportunity to step up their game and get ahead irrespective of the market and the time of the year we are in.

buying instead of renting

What is this host of proposals that are raising the hackles of the landlords?

Here is a rundown:

  • Doubling the notice period served by landlords to 90 days, under all circumstances
  • Landlords have to provide a justification for terminating a lease
  • Tenants can apply for reduction of rent in the tenancy tribunal if they believe they are being charged above market rates
  • Landlords will have no say on tenants having pets
  • Minimum requirements for home heating to be set
  • Axing the letting fee

With many landlords thinking of selling up their rental investments, real estate agents who have positioned themselves well are going be quite busy with bringing on and closing multiple listings over the next couple of months.

property market

It is also worth noting that these regulations could also mean fewer homes available for rent comparatively, pushing renting costs higher On the flip side, this could prove to be an opportunity for agents to find those looking to either buy their first home as opposed to renting, especially with mortgage rates at a 70 year low.

Do you need help in being connected with people in your local area actively looking at buying or sell residential property or even would like to discuss other ways to prospect for real estate, click here to schedule a time for a no obligation discovery call.

Content sourced from NZ Herald

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