24 March 2020
The Government has announced a rent freeze in response to the Covid-19 virus. The rent freeze only applies to residential properties. Commercial landlords and tenants will be unaffected by the changes.
The government is also looking at extending the impact of “no cause” terminations.
There has been limited information about how this will affect both landlords and tenants.
There is also currently a dearth of information available about whether the rent freeze applies to rent increases given prior to the government’s announcement, but to take effect after the shutdown begins (for example, where notice was given on 12 March 2020 but the increase was to take effect on 12 April 2020).
The government says that it will release details about how it will give effect to the rent freeze “in the coming days”. We will be monitoring these announcements ready to advise clients about them.
If you are a tenant, or landlord, and want to discuss how these changes will affect you, contact Gibson Sheat.
from NZ Herald
from News Hub