In this newsletter

1. A Tenant Rating System which can be used by NZPIF members

2. myRent announces a new app.

3. Reminder - existing build-to-rent developments must apply by 1 July 2023 to register for the exclusion from the interest limitation rules

A Tenant Rating System for use by NZPIF members

As part of the tenant pre-selection process, it has been considered desirable to have access to a tenant rating system containing information from other landlords about their former tenants.  illion Tenancy is a business partner of NZPIF and offers this faciltiy to members who register with them

As step one, NZPIF members as well as Associate members need is go here to do their free registration with illion Tenancy.

In order to comply with the Privacy Act, as step two members must use the illion Tenancy application form here as it has the required comprehensive privacy statement.  The alternative is to cut and paste the privacy statement (see next section) on to your own application form.

Here are some new tutorial videos for lodging tenancy information on their national tenancy database:

Tenant Ratings: https://illiontenancy.wistia.com/medias/ghzltt906j

14 Day Notices: https://illiontenancy.wistia.com/medias/zcladr8q09

Tenancy Tribunal Orders: https://illiontenancy.wistia.com/medias/jqb8hpwrrr

Prefer to use your own tenancy application form?

If you prefer to use your own tenancy application form but would like to have the ability to consult the illion Tenancy tenant rating system or add information to it, you need to add this Privacy Statement to your own tenancy application form as well as do a free registration with illion Tenancy by going here.

The All-in-One Solution for Self-Managing Landlords. Now Available on Mobile.

myRent understands the unique challenges property investors face and are committed to providing exceptional value and support to their customers. With the recent launch of iOS and Android apps, landlords can now enjoy the flexibility of advertising properties, managing tenancies, and conducting tenant checks—all from the convenience of their mobile device.

If you are not already using myRent, join now * because as a valued member of the NZPIF, you will receive:

- a complimentary rental advertisement that includes realestate.co.nz and Trade Me exposure, maximising your chances of securing the perfect tenants,

- and a 15% discount on the management product.

Don't miss out on this exclusive offer available only to NZPIF members! Visit www.myrent.co.nz/nzpif today to access more information.

Discover the power of myRent.co.nz—the ultimate solution for self-managing landlords. Join the ranks of thousands of satisfied landlords. Start your myRent journey today!

*These offers are not currently available to Associate Members.

A reminder from HUD applying to existing build-to-rent developments

This is a reminder that existing build-to-rent developments must apply by 1 July 2023 to register for the exclusion from the interest limitation rules. Once approved, the exclusion for existing developments applies retrospectively from 1 October 2021.

From 1 July 2023, only new build-to-rent developments (built on or after 1 July 2023) will be eligible to register for the build-to-rent exclusion from the interest limitation rules. The exclusion will apply to new build-to-rent developments from the date of application for registration.

If you have already applied to register your existing build-to-rent development, you do not need to do anything further unless we have contacted you specifically about your application.

Applying for the exclusion

Build-to-rent providers must apply to Te Tuapapa Kura Kainga – Ministry of Housing and Urban Development to register build-to-rent land for exclusion from the interest limitation rules. Once approved, land will be recorded on a register of build-to-rent assets and relevant information will be shared with Inland Revenue.

The application form will ask you to provide evidence that demonstrates the development has met the requirements of the exclusion. We recommend that you compile your documentation prior to beginning the application form to ensure the best experience.

You can find more information, including guidance on completing the application form, on their website at Build-to-rent – Te Tuapapa Kura Kainga – Ministry of Housing and Urban Development (hud.govt.nz).