The database will be made up of current Tenancy Tribunal decisions and orders. Landlords and tenants will be able to search a website containing all Tenancy Tribunal decisions, although these will be historic - the appeal period for each decision having passed.
Federation President Martin Evans said the information that is now available through the new Tenancy Services website has always been public information. The initiative, which the NZPIF has been seeking for many years, reduces the risk for both landlords and tenants by making the information accessible to both parties. The end result is that good landlords and tenants will be better protected, leading to a better industry overall.
“With over 300,000 landlords in New Zealand and over 464,000 residential rental properties worth around $150 billion, the database should prove to be an extremely useful tool for private landlords, who” he said. “are currently, and will continue to be, the largest providers of good rental accommodation in New Zealand. It is in the interests of our members, 87% of whom are long-term investors, to ensure the relationships between them and their tenants are positive and rewarding for both parties.”
The NZPIF has a long tradition of working closely with Department of Building and Housing to support landlords and increase the knowledge and experience of everyone operating in this industry. An example is the second series of Education Seminars for new landlords run by the Department in conjunction with NZPIF, ANZ and Westpac. These are designed to help these landlords come to grips with running their rental property effectively. The seminars provide a good start and are complemented by the many educational seminars and workshops offered to members by local Property Investors’ Associations. Many members also gain a great deal from the networking at monthly meetings, learning from more experienced landlords/investors and sharing ideas about strategies to deal with the situations most will meet at some stage or another. “Our members tell us that this support is invaluable,” says Martin Evans.
Visit www.nzpif.org.nz to find out more about local Property Investors’ Associations.